China Tower Corp. Ltd. Class H · HKEX:788
China Tower Corp. Ltd. Class H — China Tower Corp Ltd H — H1 2025 Earnings Presentation
34 slides from China Tower Corp. Ltd. Class H's earnings presentation, Aug 5, 2025
Slide 1: 2025 Interim Results
2025 Interim Results 5 August 2025
Slide 2: Management
Management Mr. Zhang Zhiyong Executive Director and Chairman Mr. Chen Li Executive Director and General Manager Mr. Hu Shaofeng Chief Accountant 2
Slide 3: Contents
Contents 01 02 03 Overall Operational Financial Performance Performance Performance 3
Slide 4: Overall Performance
Overall 01 Performance Zhang Zhiyong Executive Director and Chairman 4
Slide 5: Sound operational performance, with net profit increasing by 8.0% year-on-year
01 Sound operational performance, with net profit increasing by 8.0% year-on-year Sustained revenue growth supported by multiple pillars, 02 revenue contribution from the Two Wings business increased to 14.0% Upgrades in digital towers accelerated, 03 revenue of Smart Tower business increased 18.7%
Slide 6: Key results: revenue, EBITDA, operating cash flow, profit
RMB49,601 million RMB34,227 million RMB28,679 million Operating Revenue EBITDA Operating Cash Flow 2.8% (3.1%*) 3.6% 12.6% RMB5,757 million 3.844 million 1.81 tenants/site Profit Attributable to Number of Tenants Tower Tenancy Ratio Owners of the Company 8.0% 3.0% 0.6% Note: * According to the “Reve
Slide 7: Continued to Deepen "One Core and Two Wings" Strategy
Continued to Deepen "One Core and Two Wings" Strategy Two Wings business revenue (RMB million) 6,935 Operating Revenue 15.5%（18.4%*） (RMB million) 6,005 2.8%（3.1%*） 48,247 49,601 1H 2024 1H 2025 Revenue structure 0.3% 0.4% 12.4% 14.0% 87.3% 85.6% 1H 2024 1H 2025 1H 2024 1H 2025 TSP business Two Wing
Slide 8: TSP Business Maintained Steady Growth
TSP Business Maintained Steady Growth TSP business revenue (RMB million) Continued to advance Expansion of DAS 42,461 construction of "5G new 42,121 business continued to 0.8% infrastructure" accelerate 2,974 2,759 90% 13.85 billion m in total 2 1.17 billion m2 Buildings 2024 1H 2025 Cumulative numb
Slide 9: Smart Tower Business Achieved Strong Growth
Smart Tower Business Achieved Strong Growth Identified customer demands Smart Tower business revenue • Focused on key industries such as emergency response, Refined products (RMB million) water conservation, forestry and grassland, strengthened • Advanced the construction and operations “head-to-hea
Slide 10: Energy Business Showed Positive Growth Trend
Energy Business Showed Positive Growth Trend Energy business revenue (RMB million) 9.2% (17.9%*）2,209 Strengthened Deepened platform support refined operations 2,023 • Promoted the update and • Strengthened the refined Consolidated iteration of the battery exchange management of the full asset Provi
Slide 11: Deepened Reforms to Stimulate Corporate Vitality
Deepened Reforms to Stimulate Corporate Vitality Continued to deepen and reinforce the reforms Reinforced and enhanced • Deepened regional areas targeted reform, Highlighted industrial management efficiency continued to drive resource decentralization, transformation and renewal strengthen support s
Slide 12: Effectiveness of Technological Innovation Improved Steadily
Effectiveness of Technological Innovation Improved Steadily Strengthened R&D Boosted commercialization Enhanced innovation in critical technologies of research outcomes efficiency and effectiveness Next-generation Mobile Artificial Released series of achievement lists +87% Intelligence Communication
Slide 13: Actively Rewarding Shareholders
Actively Rewarding Shareholders Strived to create value and actively enhance shareholder returns The board of directors has resolved to distribute an interim dividend of RMB 0.13250 per share（pre-tax） 21.6% 1 To better reward investors and enable all shareholders to share the results of our high-qua
Slide 14: Continued to Deepen ESG Concepts
Continued to Deepen ESG Concepts Protected eco-environment together and Shared responsibilities to Built a solid foundation for development safeguarded our green home enhance social well-being through integrity and governance and people’s livelihoods • “Co-share and co-build” policy, and • Emergency
Slide 15: Strategic Focus Drove the Company's High-quality Development
Strategic Focus Drove the Company’s High-quality Development Expansion of digital infrastructure Further deepened Green transformation continued to accelerate digital intelligence governance fully implemented Continued improvement in the 5G broadband coverage, Further promoted the strategic deployme
Slide 16: Operational Performance
Operational 02 Performance Chen Li Executive Director and General Manager 16
Slide 17: Key Operating Indicators
Key Operating Indicators Indicator 1H 2024 1H 2025 Change Operating revenue (RMB million) 48,247 49,601 2.8%（3.1%*） TSP Business 42,121 42,461 0.8% Smart Tower Business 3,982 4,726 18.7% Energy Business 2,023 2,209 9.2%（17.9%*） Number of Tower Tenants 3,731 3,844 3.0% (thousand) TSP Tenants 3,493 3,
Slide 18: Steady Revenue Growth Supported by Multiple Pillars
Steady Revenue Growth Supported by Multiple Pillars RMB million -0.3pp 1.0pp 1.5pp 0.7pp 0.2pp +3.1%* 84 49,601 48,098* 335 744 500 -160 1H 2024 Tower DAS Smart Tower Energy Others 1H 2025 business business business business Contribution to revenue growth: -10.7% 33.3% 49.5% 22.3% 5.6% 18
Slide 19: Tower Business Maintained Healthy Development
Tower Business Maintained Healthy Development Revenue from Tower Business TSP tenants TSP Tower tenancy ratio （RMB million） （thousand） (Tower Tenants/Tower Site) 2.5% 3,579 0.6% 37,957 -0.4% 37,797 3,493 1.72 1.71 1H 2024 1H 2025 1H 2024 1H 2025 1H 2024 1H 2025 Introduced embedded Actively conducted
Slide 20: DAS Business Showed Solid Growth Momentum
DAS Business Showed Solid Growth Momentum Revenue from DAS business （RMB million） Strengthened resource coordination in key locations Deepened “signal upgrade” initiative in key locations, kept pace with key project construction, and conducted network coverage testing; gave full play to the 4,664 ad
Slide 21: Smart Tower Business Empowers Digital Governance
Meticulous and Refined Operations Smart Tower Business Empowers Digital Governance 240,000“digital towers” empowered key industries Tower Monitoring Land Emergency response Business Revenue Using high-point resources to provide farmland protection Constructed early warning services for natural disas
Slide 22: Forged Capabilities to Lay a Solid Foundation for Smart Tower Business
Forged Capabilities to Lay a Solid Foundation for Development of Smart Tower Business Platform capability Algorithm capability Product capability Service capability Innovation capability • Strengthened the • 15 specialized industry • Strengthened “Major • Drove technological • 470+ specific algorith
Slide 23: Battery Exchange Business Maintained its Leading Position
Leveraging Strengths, Battery Exchange Business Maintained its Leading Position Revenue from Continued to Optimize User Base battery exchange business Continued to Grow Network Deployment (RMB million) • Actively capitalize on national’s new safe • Accelerated the deployment of 4.0 battery charging
Slide 24: Focused on Key Areas and Continued to Scale Power Backup Business
Focused on Key Areas and Continued to Scale Power Backup Business Promoted comprehensive solutions to build “energy butler” service brand Revenue from “Leveraging China Tower's 'Energy Butler' platform power backup business to deliver customized solutions for client” (RMB million) Green Power to Red
Slide 25: Financial Performance
Financial 03 Performance Hu Shaofeng Chief Accountant 25
Slide 26: Key Financial Indicators
Key Financial Indicators （RMB milion） 1H 2024 1H 2025 YoY Change Operating revenue 48,247 49,601 2.8% (3.1%*) Operating costs 40,101 40,972 2.2% Operating profit 8,146 8,629 5.9% EBITDA 33,045 34,227 3.6% Profit attributable to owners 5,330 5,757 8.0% of the Company Operating cash flow 32,830 28,679
Slide 27: Sound Cost Control
Sound Cost Control （RMB million） 1H 2024 1H 2025 YoY Change Description of main factors Operating expenses 40,101 40,972 2.2% Operating expenses to revenue ratio The increase in depreciation arising from new investment to meet Depreciation and amortization 24,899 25,598 2.8% customers’growing constr
Slide 28: Profitability Continued to Improve
Profitability Continued to Improve Operating profit and operating profit margin EBITDA and EBITDA margin （RMB million） （RMB million） 5.9% 3.6% 34,227 8,146 8,629 33,045 16.9% 17.4% 68.5% 69.0% 1H 2024 1H 2025 1H 2024 1H 2025 Profit Attributable to Owners of the Company Net profit margin （RMB million
Slide 29: Effective Allocation of CAPEX
Effective Allocation of CAPEX CAPEX Made effective investments according to business （RMB million） development and capacity building needs 13,729 -9.7% 608 12,392 1,880 With the change of construction needs of operators, together with 940 continuous optimization of construction plans and application
Slide 30: Overall Cash Flow Remained Healthy
Overall Cash Flow Remained Healthy Operating cash flow （RMB million） 32,830 28,679 16,638 RMB million 1H 2024 1H 2025 1H 2024 2H 2024 1H 2025 Operating 32,830 28,679 cash flow Free cash flow 19,101 （RMB million） 16,287 Free cash flow 19,101 16,287 -1,574 1H 2024 2H 2024 1H 2025 30
Slide 31: Capital Structure Remained Stable and Healthy
Capital Structure Remained Stable and Healthy Liabilities to assets ratio As at As at RMB million 31 December 2024 30 June 2025 39.9% 0.4pp 39.5% Total assets 332,834 331,127 Cash and cash 2,598 8,673 equivalents 2024.12.31 2025.06.30 Total liabilities 132,855 130,774 Gearing ratio Interest-bearing
Slide 32: Q&A / Contact us
Q&A Contact us: Tel/ +852 28114566 Email / ir@chinatowercom.cn www.china-tower.com
Slide 33: Appendix: Extracted from Unaudited Consolidated Statement of Financial Position
Appendix: Extracted from Unaudited Consolidated Statement of Financial Position as at 30 June 2025 (RMB million) 2024.12.31 2025.06.30 Total assets 332,834 331,127 Current assets 91,360 96,855 Non-current assets 241,474 234,272 Property, plant and equipment 192,770 184,832 Construction in progress 1
Slide 34: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by The information communicated in this presentation may contain reading the presentation materials, you agree to be bound by the certain statements that are or may be forward-looking. These following limitations: statements typ
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