Gelonghui, April 19, 丨 China Tower (00788.HK) announced that in the first quarter of 2024, the company will adhere to the “shared” development concept, firmly based on the “three service providers” position, continue to deepen the “one, two wings” strategy, and the development of various businesses is progressing steadily. As of March 31, 2024, the number of tower sites reached 2,059 million, and the number of tower tenants reached 3.701 million, a net increase of 43,000 over the end of the previous year. The average number of tenants at tower stations was 1.80.

In the first quarter of 2024, the company's revenue reached RMB 23.974 billion, an increase of 3.3% over the previous year. Among them, operator business revenue reached RMB 20.984 billion, up 2.2% year on year; smart link business revenue reached RMB 1,974 billion, up 21.0% year on year; and energy business revenue reached RMB 957 million, up 0.8% year on year. The share of revenue from the two wings business increased to 12.2% from 11.1% in the same period last year. In the first quarter of 2024, EBITDA reached RMB 16.597 billion, with an EBITDA rate of 69.2%, and profit attributable to the company's shareholders of RMB 2,784 billion, an increase of 11.1% over the previous year.

In 2024, the company will continue to grasp the development opportunities brought by the “dual gigabit” network joint offensive project, the “signal upgrade”, “broadband frontier” special operation, digital China, and the “dual carbon” target strategy, further promote the implementation of the “one, two wings” strategy, continuously enhance core competitiveness and continuously enhance corporate value around high-quality management. In terms of operator business, the company will effectively play the role of the national information and communication infrastructure construction team and the main force in new 5G infrastructure, comprehensively strengthen resource coordination, meet customer needs intensively and efficiently through innovative service plans, improve service capabilities, focus on building a “three excellent and one low” tower reputation of “excellent comprehensive cost, excellent construction and delivery, excellent maintenance service, and low management risk”, and continue to promote steady business development. In terms of smart link business, we continue to give full play to the advantages of medium and high level resources, focus on digital intelligence transformation and upgrading of social governance, actively promote market leading development strategies in key industry segments, strive to achieve market leadership in key scenarios, strengthen innovation drivers, continuously improve core competency advantages such as platforms, algorithms, and application products, and conduct smart smart business through deep industry cultivation, deep research and innovation, deep integration, and deepening management. In terms of energy business, accelerate the cost-effective layout of power exchange networks, continuously improve service capabilities, further consolidate the leading position in the market, give full play to the core advantages of “power backup, power generation, monitoring and maintenance”, dig deep into “energy saving and carbon reduction” needs, actively promote comprehensive solutions for the “Power Backup +” industry, build the “Tower Energy Manager” brand, and promote high-quality development of the energy business.