China Telecom Eyes a Return to the A-share Market

Technology Author: 石伟 Mar 10, 2021 12:54 PM (GMT+8)

The company plans to land on Shanghai Stock Exchange with the issuance of no more than 12.09 billion shares.

China Telecom

According to an announcement made by China Telecom on March 9, the move has been made that in order to grasp the digital development opportunity, improve corporate governance, broaden financing channels, accelerate reform and development, promote the implementation of strategy and achieve high-quality development.

The funds raised will be mainly used for 5G industrial Internet construction projects, cloud network integration new information infrastructure projects, scientific and technological innovation and R&D projects.

As of December 31, 2020, China Telecom has 86.5 million 5G package users, with a penetration rate of 24.6%. The total number of 5G featured application users is about 150 million and the decline of ARPU of mobile users has narrowed. The number of mobile users reached 351 million, with a net increase of 15.45 million, and the market share of users increased to 22.0%.

According to the firm's 2020 financial report, the operating revenue reached CNY 393.6 billion, an increase of 4.7% year-on-year. The net profit was CNY 20.85 billion, up 1.6% year-on-year and the basic net profit per share was CNY 0.26. Capital expenditure was CNY 84.8 billion and free cash flow was CNY 14.3 billion.