China Telecom ( (HK:0728) ) has shared an update.
China Telecom announced its annual results for 2024, reporting a 3.1% increase in operating revenues to RMB529.4 billion and an 8.4% rise in net profit to RMB33.0 billion. The company emphasized growth in strategic emerging businesses and industrial digitalization, with significant increases in revenue from mobile value-added services, smart family services, and cloud services. The Board recommended a cash distribution of 72% of the profit attributable to equity holders, with plans to increase this to above 75% within three years, enhancing shareholder value. The company is committed to advancing its Cloudification and Digital Transformation strategy, focusing on artificial intelligence and digital infrastructure to drive future growth.
More about China Telecom
China Telecom Corporation Limited is a leading telecommunications company in China, providing a wide range of services including mobile communications, wireline services, and digital solutions. The company is focused on strategic emerging businesses and industrial digitalization, aiming to advance in high-quality development and innovation.
Technical Sentiment Signal: Strong Sell
Current Market Cap: €85.1B
See more data about 0728 stock on TipRanks’ Stock Analysis page.