China Communications Services Corp Class H ( (CUCSF) ) has released its Q4 earnings. Here is a breakdown of the information China Communications Services Corp Class H presented to its investors.
China Communications Services Corporation Limited, a leading provider of integrated comprehensive smart solutions in the field of informatization and digitalization, has announced its annual results for the year ended December 31, 2024. The company reported a total revenue of RMB150,000 million, marking a 0.9% increase from the previous year, and a net profit of RMB3,607 million, up by 0.6%. The gross profit margin improved to 11.7%, and free cash flow saw a significant rise of 20.4% to RMB5,214 million. The company maintained stable revenue growth in the domestic telecommunications market and achieved rapid growth in its overseas market.
Key financial highlights include a steady increase in service revenue, which amounted to RMB146,212 million, and a gross profit of RMB17,596 million. The company also reported a dividend payout ratio of 42%, with a proposed final dividend of RMB0.2187 per share. Strategic initiatives focused on technological innovation and expansion into emerging industries such as digital infrastructure, smart cities, and green technologies contributed to the company’s growth.
The company continued to strengthen its software development capabilities and digital service standards, with applications, content, and other services driving revenue growth for the third consecutive year. Revenue from telecommunications infrastructure services saw a slight decline, while business process outsourcing services remained stable. The company’s strategic focus on key industry customers and emerging businesses resulted in a 30% increase in new contract values.
Looking ahead, China Communications Services aims to enhance its core functions and competitiveness by focusing on technological innovation and strategic emerging businesses. The company plans to optimize its product and service quality, promote intelligent and green transformations, and strengthen its capabilities in digital infrastructure, smart city services, and security. The management remains committed to ensuring steady growth and contributing to the advancement of Chinese modernization.