China Telecom Announces 2024 First Quarter Results

　　China Telecom recently announced its financial results for the first quarter of 2024. During the reporting period, the Company’s operating revenues amounted to RMB134.5 billion, representing an increase of 3.7% year-on-year. Service revenues amounted to RMB124.3 billion, representing an increase of 5.0% year-on-year. Net profit amounted to RMB8.6 billion, representing an increase of 7.7% year-on-year, and the basic earnings per share were RMB0.09, representing an increase of 7.7% year-on-year.

　　Mobile communications service revenues amounted to RMB52.2 billion, representing an increase of 3.2% year-on-year. As of March 31 2024, mobile customers totaled 412 million, including 329 million 5G package customers. Mobile ARPU was RMB 45.8, representing an increase of 0.9% year-on-year.

　　Wireline and Smart Family service revenues amounted to RMB31.8 billion, representing an increase of 2.2% year-on-year. The number of broadband subscribers reached 192 million. Broadband blended ARPU reached RMB48.6, representing an increase of 2.1% year-on-year.

　　Industrial Digitalisation business maintained rapid growth, with its revenue reaching RMB38.7 billion, representing an increase of 10.6% year-on-year.

　　In the future, China Telecom will actively grasp the new round of scientific and technological revolution and industrial transformation and development trend, constantly enhance core functions, improve core competitiveness, and accelerate the construction of a world-class enterprise.