China United Network Communications (600050) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached RMB 103.35 billion, up 3.9% year-over-year; net profit attributable to shareholders was RMB 2.61 billion, up 6.5% year-over-year.

• Mobile users grew to 349 million, with a net increase of 4.78 million; fixed broadband users reached 124 million, up by 1.92 million.

• Unicom Cloud revenue was RMB 19.72 billion; data center revenue rose 8.8% year-over-year to RMB 7.22 billion.

• R&D expenses increased 6.7% year-over-year, supporting innovation in AI and digital services.

• Data services revenue grew 11.3% to RMB 1.84 billion; intelligent services revenue rose 14% to RMB 2.1 billion.

Financial highlights

• Operating income: RMB 103.35 billion, up 3.9% year-over-year.

• Net profit attributable to shareholders: RMB 2.61 billion, up 6.5% year-over-year.

• Basic and diluted EPS: RMB 0.083, up 6.4% year-over-year.

• Operating cash flow: RMB 7.85 billion, down 27.8% year-over-year.

• Total assets at quarter-end: RMB 667.65 billion, down 0.8% from year-end 2024.

Outlook and guidance

• Focus remains on high-quality growth through network, technology, and service innovation.

• 2025 targets include robust growth in revenue, profit, and ROE, with continued investment in AI and digital transformation.