According to the Zhitong Finance App, China New Telecom (08167) announced results for the six months ended June 30, 2023, with earnings of HK$234 million, down 10% from the previous year; company owners should account for a loss of HK$124 million, a profit of HK$39.9979 million for the same period last year; a basic loss of HK$1.30 cents per share.
The decrease in earnings during the period was mainly due to the negative impact of the COVID-19 pandemic on the business environment, which led to a decline in the average rate charged to Group customers per server cabinet and the usage rate of the Group's self-built data centers.