Half Year 2024 China Tower Corp Ltd Earnings Call Transcript
Key Points
- China Tower Corp Ltd (CHWRF) reported a healthy operating performance with double-digit net profit growth and significant improvement in cash flow.
- The company's 'One Core and Two Wings' strategy showed steady progress, supporting business development with multiple pillars.
- The Digital Tower business continued to grow rapidly, empowering various industries with smart tower solutions.
- China Tower Corp Ltd (CHWRF) strengthened its technological innovation capabilities, focusing on key technologies and improving R&D efforts.
- The company announced its first interim dividend, reflecting a commitment to sharing development gains with shareholders.
- The energy business experienced slower growth compared to previous years, attributed to one-off events affecting performance.
- Revenue from the power backup business decreased by 12.9% year on year, impacted by a major event in Chengdu last year.
- Operating expenses increased by 2.7% year on year, although the operating expense to revenue ratio showed a slight improvement.
- The company's capital expenditure increased by 7.1% year on year, driven by the demand for 5G tower base station construction.
- Despite improvements, the liability to asset ratio remained at 38%, indicating a need for further financial optimization.
(interpreted) Present at today's presentation, we have the Chairman of the company, Mr. Zhang Zhiyong; Mr. Chen Li, Executive Director and General Manager; Mr. Gao Chunlei, Executive Director; Mr. Hu Shaofeng, Our Chief Accountant. The results presentation will be divided into three parts. First, the Chairman will report the overall performance of the company's 2024 interim results. And then we're going to have the Q&A session.
Now I'm going to give the floor to Chairman, Mr. Zhang Zhiyong to talk to you about the company's overall performance in the first half of the year.
Ladies and gentlemen, good afternoon. Welcome to our interim results announcement of China Tower. Taking advantage of this opportunity, I'd like to thank you for your long-term support and interest in our company. Present at today's presentation are several management members, including Mr. Chen Li, our General Manager; Mr. Gao Chunlei, Executive Director; Mr. Hu Shaofeng, and our
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