China Tower achieved operating revenue of 23.974 billion yuan in the first quarter, a year-on-year increase of 3.3%

According to the news from Zhitong Finance APP, China Tower (00788) announced that in the first quarter of 2024, the company adhered to the development concept of "sharing", firmly based on the positioning of "three service providers", continued to deepen the "one core, two wings" strategy, and made steady progress in various business developments. As of March 31, 2024, the number of tower sites reached 2.059 million, the number of tower tenants reached 3.701 million households, with a net increase of 43,000 households compared to the end of the previous year. The average number of tenants per tower site is 1.80 households.

In the first quarter of 2024, the company's operating income reached RMB 23.974 billion, an increase of 3.3% year-on-year. Among them, the revenue from operator business reached RMB 20.984 billion, an increase of 2.2% year-on-year; the revenue from smart connection business reached RMB 1.974 billion, an increase of 21.0% year-on-year; the revenue from energy business reached RMB 0.957 billion, an increase of 0.8% year-on-year. The proportion of revenue from the two wings business in operating income increased from 11.1% in the same period last year to 12.2%. In the first quarter of 2024, EBITDA reached RMB 16.597 billion, with an EBITDA margin of 69.2%. The profit attributable to the company's shareholders was RMB 2.784 billion, an increase of 11.1% year-on-year.

In 2024, the company will continue to seize the development opportunities brought by the "dual gigabit" network joint attack project, "signal upgrade", "broadband frontier" special action, digital China, and the "dual carbon" target strategy. It will deepen the implementation of the "one core, two wings" strategy, focus on high-quality operation, continuously enhance core competitiveness, and continuously increase the company's value. In terms of operator business, the company will effectively play the role of the national team for information and communication infrastructure construction and the main force of 5G new infrastructure, comprehensively strengthen resource coordination, meet customer needs intensively and efficiently through innovative service solutions and improved service capabilities, and strive to create a "three excellence and one low" tower reputation of "optimal comprehensive cost, optimal construction delivery, optimal maintenance service, and low risk management", and continuously promote the stable development of the business. In terms of smart connection business, it will continue to leverage the advantages of high and medium point resources, focus on the digital transformation and upgrading of social governance, actively promote leading development strategies in key industry segmented markets, strive to achieve leading positions in key scenario markets, strengthen innovation drive, continuously enhance core capabilities such as platforms, algorithms, and application products, and refine smart connection business through in-depth industry cultivation, innovative research, demand excavation, deep integration, and deep management. In terms of energy business, it will accelerate the efficient layout of the electric network economy, continuously improve service capabilities, further consolidate its leading position in the market, give full play to the core advantages of "backup power, power generation, monitoring, and maintenance", tap into the demand for "energy saving and carbon reduction", actively promote the comprehensive solution of "backup power +" in the industry, build the brand of "Tower Energy Manager", and promote the high-quality development of the energy business