Tue, Mar. 3, 1:45 PM
- China Unicom (NYSE:CHU) is down 5.5% as it posted Q4 income that fell 26% and missed expectations, pointing to VAT reform and playing from behind on high-speed data as headwinds.
- Q4 revenue of 69.3B yuan (down 7%) beat expectations by 2.1B yuan. EBITDA of 20.77B yuan missed expectations by 1B yuan.
- For the full year, net profit was up 15.8% to 12.06B yuan. Net profit was 4.9% of service revenue, up from 4.4% in 2013. Full-year revenue of 244.88B yuan was up 2.6%.
- Full-year revenue breakouts: Mobile, 155.1B yuan (up 2.6%); fixed-line, 88.5B yuan (up 2.3%).
- The company warned that a slowdown in user growth may persist through 2015 or even reverse into a decline, and Chairman Lu Yimin again batted down speculation about a merger with China Telecom (NYSE:CHA) to keep up with clear market leader China Mobile (NYSE:CHL).
- China Unicom has been running behind on 4G implementation, having just received its 4G LTE FDD license and playing catch-up with China Mobile (CHL), which features 100M users.
- Previously: Merger rumors lift U.S. shares of Chinese telecoms (Feb. 12 2015)
- Previously: Chinese telecoms jump in Hong Kong on merger rumor (Feb. 11 2015)
Aug. 7, 2014, 10:57 AM
Aug. 8, 2013, 2:58 PM
- China Unicom (CHU +6.5%), China's second-largest mobile carrier, is trading up after releasing H1 results.
- The carrier's H1 numbers impressed, with revenue of 144.31B yuan up 19% Y/Y and earnings of 5.32B yuan (3.43B yuan a year ago) surpassing a consensus of 4.89B yuan.
- Profitability continues to rise as the first carrier to adopt the iPhone in China reaps the rewards of out-sized subscription and data revenue growth.
- 3G ARPU fell to 77.6 yuan (from 91.8 yuan a year ago), as CHU reeled in less wealthy 3G subs via low-cost smartphones.
- Shares were temporarily halted in afternoon Hong Kong trading after results were accidentally pre-released on a government website.
- Rivals China Mobile (CHL +1.5%) and China Telecom (CHA +2.1%) are up in sympathy.
Apr. 25, 2013, 5:57 AM
Mar. 22, 2013, 3:00 AMChina Unicom Hong Kong (CHU): Q4 net profit jumps to 1.64B yuan ($264M) from 14M yuan a year earlier and beats consensus of 1.41B yuan. Revenue +20% to 63.7B yuan vs estimates of 65.5B yuan. Had 76.5M 3G subscribers at the end of December and total mobile customers of 239.3M. Shares +4.6% in Hong Kong. (PR) | Comment!
Aug. 23, 2012, 10:36 AMChina Unicom (CHU +7.1%) jumps after reporting a Q2 net profit of CNY2.42B ($381M), slightly better than analyst estimates. China's #2 carrier also reported 1H mobile service revenue rose 23.4% Y/Y, and that it ended June with 219.2M total subscribers and 57.5M 3G subscribers. ARPU rose 2.8% Y/Y to CNY48.1 ($7.57). (CHA results) | Comment!
Jun. 20, 2012, 3:55 AMChina Unicom (CHU) -3.7% in Hong Kong trading after announcing it added a net 2.73M 3G subscribers in May, a 6.6% decrease in subscriber growth from April. Analysts attributed the results to weaker consumer spending. The news prompted BofA to cut the company’s 2012 net income forecast by 18%. | 1 Comment
Mar. 22, 2012, 2:15 PMChina Unicom (CHU -2.6%) heads lower after reporting a 2011 profit that missed expectations, as 3G and broadband subscriber growth fails to offset declining 2G subs and growing handset subsidy costs. Unicom, which plans to spend CNY100B ($15.9B) in 2012 capex, now also has to contend with a loss of Chinese iPhone exclusivity, as rival China Telecom (CHA) begins selling the 4S. (earlier) | Comment!
Oct. 27, 2011, 10:56 AM
Aug. 24, 2011, 5:57 AMChina Unicom (CHU): H1 net profit of 2.65B yuan ($415M), more than double consensus of 1.28B. Revenue of 101B (+23% Y/Y) beats by 2B. ARPU rose 9% to 46.8 yen on 3G growth; CHU - the only China operator to offer the iPhone (AAPL) - added 9.9M 3G users in H1 to 25.8M, vs. CHL's 37.6M and CHA's 23.6M. (PR) | Comment!
CHU vs. ETF Alternatives
China Unicom (Hong Kong) Ltd though its subsidiaries, provides cellular and fixed-line voice and related value-added services, broadband and other Internet-related services, ICT services, and business and data communications services in the PRC.
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