China Unicom Boosts Cash Flow and Dividends as It Shifts Capex Toward Computing Power

China Unicom (Hong Kong) ( (HK:0762) ) has provided an update.

China Unicom (Hong Kong) reported 2025 operating revenue of RMB392.2 billion and profit before income tax of RMB25.5 billion, with return on equity at 5.7% and free cash flow up 28.5% to RMB36.0 billion. The board proposed a final dividend that lifted full-year payout by 3.1% to RMB0.417 per share and raised the dividend payout ratio to 61.3%, underscoring a stronger cash profile and shareholder returns.

The group’s strategic emerging industries contributed over 86% of revenue, with computing power-related business exceeding 15% of the mix and AI revenue surging more than 140% year-on-year, while international business grew over 9% to RMB13.6 billion. Capital expenditure fell to RMB54.2 billion with the capex-to-service-revenue ratio reduced to 16%, and the company plans about RMB50 billion of capex in 2026, allocating more than 35% to computing power as it deepens co-build co-share arrangements to save operating costs and sharpen its competitive position in next-generation networks.

The most recent analyst rating on (HK:0762) stock is a Buy with a HK$10.14 price target. To see the full list of analyst forecasts on China Unicom (Hong Kong) stock, see the HK:0762 Stock Forecast page.

More about China Unicom (Hong Kong)

China Unicom (Hong Kong) is a major telecommunications operator providing mobile, broadband and related connectivity services, and is increasingly focused on strategic emerging areas such as computing power, artificial intelligence and industrial internet solutions. The company also operates international telecoms and digital infrastructure businesses, using co-build and co-share models to improve network efficiency and cost structure.

Average Trading Volume: 48,373,377

Technical Sentiment Signal: Hold

Current Market Cap: HK$231.6B

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