China Tower Corp. Ltd. Class H · HKEX:788
China Tower Corp. Ltd. Class H — China Tower Corp Ltd H — H1 2026 Earnings Presentation
33 slides from China Tower Corp. Ltd. Class H's earnings presentation, Aug 11, 2026
Slide 1: 2026 Interim Results
2026 Interim Results 11 August 2026
Slide 2: Management
Management Mr. Zhang Zhiyong Executive Director and Chairman Mr. Chen Li Executive Director and General Manager Mr. Yin Wenkai Executive Director Mr. Hu Shaofeng Chief Accountant
Slide 3: Content
Content 01 02 03 Overall Operational Financial Performance Performance Performance
Slide 4: Overall Performance
Overall Performance 01 Zhang Zhiyong Executive Director and Chairman
Slide 5: Operational performance remained robust, with net profit increasing 30.1% year-on-year
Operational performance remained robust, with net profit increasing 30.1% 01 year-on-year Synergistic development continued to deepen, with revenue contribution 02 from the Two Wings business increasing to 16.3% Innovation drove quality and efficiency improvements, with remarkable 03 progress in the
Slide 6: Key figures: revenue, profit, operating cash flow, sites, tenants
Profit Attributable to Operating Revenue Operating Cash Flow Owners of the Company 48,693 million 7,489 million 7,135 million 1.8 % 30.1 % 75.1 % Number of Sites Number of Tenants Tower Tenancy Ratio 2.172 million 3.871 million 1.78 tenants/site 2.5 % 0.7 % 1.7 % 6
Slide 7: Two Wings Business Revenue, Operating Revenue and Revenue Structure
Two Wings Business Revenue Operating Revenue (RMB million) (RMB million) 7,923 14.2 % 6,935 49,601 1.8 % 48,693 1H 2025 1H 2026 Revenue Structure 0.4% 0.8% 14.0% 16.3% 85.6% 82.9% 1H 2026 1H 2025 1H 2026 1H 2025 TSP Business Two Wings Others * Business Note: Other income mainly refers to revenue fro
Slide 8: Revenue from TSP Business
Revenue from Tower Business （RMB million） Revenue from TSP Business 37,797 6.7% （RMB million） 35,263 42,461 5.0% 40,357 1H 2025 1H 2026 Revenue from DAS Business （RMB million） 5,094 9.2% 4,664 1H 2025 1H 2026 1H 2025 1H 2026 8
Slide 9: Smart Tower Business Continued to Build Growth Momentum
Smart Tower Business Continued to Build Growth Momentum Smart Tower Business Revenue Deepening Digital Innovative Governance Business Models （RMB million） Leveraged competitive advantages in mid-to- Explored innovative growth avenues, high point resources, focused on key accelerated the development
Slide 10: Energy Business Continued to Improve Development Capabilities
Energy Business Continued to Improve Development Capabilities Accelerating Product Iteration Energy Business Revenue • Further accelerated the iteration and upgrading of （RMB million） the battery exchange and charging product series, improving product performance and strengthening market competitive
Slide 11: Reforms to Enhance Operational Efficiency
Reforms to Enhance Operational Efficiency Strengthened Frontline Regional Development • Strengthened Tiered Management: Continued to implement tiered management at the regional level, serving as the basis for resource allocation, e mplo ye e de v e lo pme nt , a nd pe rfo rma nce Focused on Optimizi
Slide 12: Significant Achievements in Technological Innovation
Significant Achievements in Technological Innovation Mid-to-High Regional Scientific New 5G Leaky Monitoring Point Video AI and Technological Digitalization Coaxial cables Platform Algorithm Innovation Centers Next-Generation Artificial Mobile of Shielded Intelligence Communications Spaces Key Joint
Slide 13: Actively Distributed Dividends to Deliver Favorable Returns to Shareholders
Actively Distributed Dividends to Deliver Favorable Returns to Shareholders Strived to create value and actively enhance shareholder returns T h e b o a r d of d i r e c t o r s h a s r e s o l v e d t o d i s t r i b u t e a n i n t e r i m d i v i d e n d of RMB 0.19122 per share (pre-tax) 44.3% T
Slide 14: Comprehensively Deepened ESG Concepts
Comprehensively Deepened ESG Concepts Implemented Green Strengthened Sense Improved Corporate Development of Responsibility Governance ENVIRONMENT SOCIAL GOVERNANCE • Co-Building and Co-Sharing to Advance • Inclusive Services to Support Rural • Optimized Governance and Clarified Rights Green Develop
Slide 15: Deepened the "One Core and Two Wings" Strategy
Deepened the "One Core and Two Wings" Strategy to Drive the Company’s High-quality Development Continued to Improve the Efficiency and Continuous Expansion of the Breadth Steady Progress in Implementing Quality of Digital Infrastructure and Depth of Digital Intelligence Comprehensive Green Transform
Slide 16: Operational Performance
Operational Performance 02 Chen Li Executive Director and General Manager
Slide 17: Key Operating Indicators
Key Operating Indicators Indicator 1H 2025 1H 2026 Change Operating Revenue (RMB million) 49,601 48,693 -1.8% TSP Business 42,461 40,357 -5.0% Smart Tower Business 4,726 5,332 12.8% Energy Business 2,209 2,591 17.3% Number of Tower Tenants (Thousand) 3,844 3,871 0.7% TSP Tenants 3,579 3,565 -0.4% Sm
Slide 18: Fundamentals of Tower Business Remained Solid
Fundamentals of Tower Business Remained Solid Revenue from Tower Business Cumulative number of TSP Tenants TSP Tower Tenancy Ratio 5G base stations built (Thousand) (Tower Tenants/Tower Site) (RMB million) (Thousand) 3,579 1.72 3,565 1.69 3,310 37,797 6.7% 3,123 35,263 2025 2026.6 1H 2025 1H 2026 1H
Slide 19: DAS Business Continued to Expand
DAS Business Continued to Expand Revenue from DAS Business (RMB million) Strengthened Resource Coordination in Key Locations 5,094 Deepened “signal upgrade” initiative in key locations, kept pace with key 4,664 9.2% project construction, and conducted network coverage testing; pushed forward the imp
Slide 20: "Digital Towers" Empowered Social Digital Intelligence Governance Broadly
"Digital Towers" Empowered Social Digital Intelligence Governance Broadly 265,000 “Digital Towers" Empowered Key Industries Cultural River and Fishing ban in Farmland Forest fire Disaster Straw Intelligent prevention alerts heritage lake the Yangtze transportation protection burning ban preservation
Slide 21: Smart Tower Business Continued to Strengthen Operational Capabilities
Smart Tower Business Continued to Strengthen Operational Capabilities 1 3 5 Platform Capability Product Capability Innovation Capability Enhanced the platform’s efficiency in nationwide sharing Leveraged “location + computing + power + security” core Deepened the "AI+" special initiative, promoted t
Slide 22: Battery Exchange Business Consolidated Market Leadership
Battery Exchange Business Consolidated Market Leadership Revenue from the battery Continued to Expand User exchange business Base Accelerated Network Construction (RMB million) • Strengthened presence in the • Optimized the battery scheduling 1,595 consumer food delivery market, algorithm and enhanc
Slide 23: Power Backup Business Maintained Sound Growth Trajectory
Power Backup Business Maintained Sound Growth Trajectory Focused on key industries, gained a deeper understanding of customer needs, and continuously enhanced capabilities in Series 1 Revenue from the providing integrated industry solutions power backup business (RMB million) Essential Need: Extende
Slide 24: Financial Performance
Financial Performance 03 Hu Shaofeng Chief Accountant
Slide 25: Key Financial Indicators
Key Financial Indicators (RMB million) 1H 2025 1H 2026 YoY Change Operating revenue 49,601 48,693 -1.8% Operating costs 40,972 37,582 -8.3% Operating profit 8,629 11,111 28.8% EBITDA 34,227 30,252 -11.6% Profit attributable to 5,757 7,489 30.1% owners of the company Operating cash flow 28,679 7,135
Slide 26: Sound Cost Control
Sound Cost Control (RMB million) 1H 2025 1H 2026 YoY Change Description of main factors Operating expenses 40,972 37,582 -8.3% Expiration of depreciation for acquired tower assets and adjustment of Depreciation and amortization 25,598 19,141 -25.2% the depreciation period for indoor distribution ass
Slide 27: Profitability Further Improved
Profitability Further Improved Operating profit and EBITDA and Net profit and operating profit margin EBITDA margin net profit margin (RMB million) (RMB million) (RMB million) 34,227 11,111 11.6% 30.1% 7,489 28.8% 30,252 5,757 8,629 10.4 10.4 17.4% 22.8% 69.0% 62.1% 11.6% 15.4% % % 1H 2025 1H 2026 1
Slide 28: Effective Allocation of CAPEX
Effective Allocation of CAPEX CAPEX (RMB million) Closely aligning with the network construction plans of telecommunication operators, the company continuously optimizes construction schemes and applies innovative products to 12,392 6.0% effectively save investments 940 11,650 449 Based on actual ph
Slide 29: Cash Flow Temporary under Pressure
Cash Flow Temporary under Pressure Operating Cash Flow Free Cash Flow (RMB million) (RMB million) RMB 21,544 million RMB 20,802 million 28,679 16,287 7,135 -4,515 1H 2025 1H 2026 1H 2025 1H 2026 29
Slide 30: Capital Structure Remained Stable and Healthy
Capital Structure Remained Stable and Healthy Liabilities to Assets Ratio As at As at RMB million 31 December 30 June 2.0PP 41.4% 39.4% 2025 2026 Total assets 336,579 351,237 Cash and cash 12,312 6,655 equivalents 2025.12.31 2026.06.30 Total liabilities 132,671 145,527 Gearing Ratio 3.8PP 27.7% 31.5
Slide 31: Q&A Contact Us
Q&A Contact Us: Tel / +852 28114566 Email / ir@chinatowercom.cn www.china-tower.com
Slide 32: Appendix: Extracted from Unaudited Consolidated Statement of Financial Position
Appendix: Extracted from Unaudited Consolidated Statement of Financial Position as at 30 June 2026 （RMB million） 2025.12.31 2026.6.30 Total assets 336,579 351,237 Current assets 104,069 120,262 Non-current assets 232,510 230,975 Property, plant and equipment 184,099 182,058 Construction in progress
Slide 33: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation The information communicated in this presentation may contain certain statements that materials, you agree to be bound by the following limitations: are or may be forward-looking. These statements typ
China Tower Corp Ltd H — H1 2026 Earnings Presentation on 6ix