China Tower Achieves CNY 81 Bn in 2020

Technology Author: Fuller Wang Mar 11, 2021 06:27 PM (GMT+8)

The large communication tower company’s net profit hits historical again to CNY 6.43 billion.

China Tower

On March 8, 2021, China Tower released its 2020 performance result. The total revenue of the company reaches CNY 81.1 billion, up 6.1% year on year. The company's net profit reached CNY 6.43 billion, up 23.1% year-on-year, and gets a net profit margin of 7.9%. Its cash flow from operating activities reaches CNY 57.55 billion and free cash flow reached CNY 20.43 billion. 

According to the data the company leased, in 2020, the company has experienced two battles: the covid-19 epidemic and the large-scale construction of the 5G network. China Tower has been sticking on a market-oriented and customer-oriented development mode and makes full use of existing resources to accelerate the construction of the 5G network. By the end of 2020, China Tower receives more than 760,000 5G base station construction orders, and more than 97% of them are expected to complete with existing site resources. The total number of station sites owned by the three telecommunication enterprises has increased by 1.3 times compared with last year. Now, there are 2.02 million tower base stations in China, with a cumulative net increase of 29,000 compared with the end of 2019. Moreover, the average number of single tower tenants increases to 1.57. Under the bullish news, we expected investors will add to positions in couple of days