33 slides from China Telecom Corp. Ltd. Class A's earnings presentation, Mar 24, 2026
Slide 1: 2025 Annual Results
2025 Annual Results China Telecom Corporation Limited 24 March 2026 www.chinatelecom-h.com
Slide 2: Forward-looking Statements
Forward-looking Statements The development strategies, future business plans, prospects and other forward-looking statements in this document do not constitute commitment by China Telecom Corporation Limited (the “Company”) to investors. Such forward- looking statements are subject to known and unkn
Slide 3: Overview
Overview Mr. Ke Ruiwen, Executive Director, Chairman & CEO Business Review & Financial Performance
Slide 4: Summary of Highlights
Summary of Highlights 1 Business development progressed steadily 2 Proactively promote strategy upgrade 3 Comprehensively and deeply promote “AI+” action Comprehensively deepen reform and opening up to 4 enhance corporate governance capabilities Seize opportunities and strive for a solid start to th
Slide 5: Key Operating Results
Key Operating Results RMB Mil 2024 2025 Change Service Revenues 482,033 485,424 0.7% EBITDA 140,847 143,872 2.1% Net Profit 33,012 33,185 0.5% Net Profit Attributable to Equity Holders of the Company excluding 30,742 31,329 1.9% Extraordinary Gains and Losses (CASs) Net Profit Margin 6.8% 6.8% 0.0p.
Slide 6: Steady Progress in Operations with High-quality Development Reached a New Level
Steady Progress in Operations with High-quality Development Reached a New Level Service revenues Fundamental businesses Industrial Digitalisation RMB Bil RMB Bil RMB Bil 0.7% 485.4 328.2 0.7% 330.5 146.6 0.5% 147.3 482.0 62.3 63.0 202.5 204.5 30.4% 84.3 84.3 125.7 126.0 2024 2025 2024 2025 2024 2025
Slide 7: Proactively Promote Strategy Upgrade and Continue to Deepen Intelligent Cloud System
Proactively Promote Strategy Upgrade and Continue to Deepen Intelligent Cloud System Intelligent cloud system based on the No.1 technology “Xirang” TaaS (Terminal-as-a-Service) Comprehensively deepen the promotion of “AI+” action SaaS Proprietary Third-party Internal: Reduce cost and enhance efficie
Slide 8: Accelerate the Building of a Leading Sci-tech Enterprise
Accelerate the Building of a Leading Sci-tech Enterprise Accelerate breakthroughs in key core technologies and promote deep integration of sci-tech and industrial innovations to create superior products Cloud & Cloud-network Integration Self-developed CTyunOS First intelligent cloud Cloud computing
Slide 9: Comprehensively Deepen the “AI+” Action
Comprehensively Deepen the “AI+” Action Extensive Empowerment Quality and Efficiency Enhancement Intelligent revenue RMB 12.3Bil 38.2% Internal AI Cost reduction and 2C/2H application >250 efficiency enhancement >RMB Bil 2 2B Reshape e-Surfing smart ringtone, smart panel, >110 Industry LLMs >350 In
Slide 10: Accelerate Compute Investment to Solidify Strategic Foundation
Accelerate Compute Investment to Solidify Strategic Foundation Continuous trend in capex optimisation Continuous upgrade of computing infrastructure Computing power Storage power Transmission power AIDC Electric power 2025: RMB80.4Bil 2026E:RMB73.0Bil 9.2% Proprietary intelligent compute Cold-ice s
Slide 11: Building a New Generation AIDC Infrastructure for Intelligent Computing
Building a New Generation AIDC Infrastructure for Intelligent Computing The PRC’s largest, most numerous, most extensive, highly-efficient in delivery and technologically advanced AIDC service provider AIDC revenue RMB 34.5Bil 100MW-scale AIDC Hub Park High-power project no. >20 Total capacity 1.2GW
Slide 12: Strengthen Intelligent Cloud Security Services
Strengthen Intelligent Cloud Security Services Scale development of security services Full stack AI security products and solution system Government Enterprise General public SaaS Gov’t admin, public security, healthcare… Internet, finance, industrial, publicity… Household / individual Security reve
Slide 13: Innovation Drives Quantum Technology and Industry Development
Innovation Drives Quantum Technology and Industry Development Completed systematic deployment in three core areas, integrating into people’s lives and empowering industrial development Quantum Communication Quantum Computing Quantum Precision Measurement World’s leading quantum communication subs ba
Slide 14: Further Comprehensively Deepening Reform and Opening Up to Enhance Corporate Governance Capabilities
Further Comprehensively Deepening Reform and Opening Up to Enhance Corporate Governance Capabilities Promote in-depth reforms, increase “investment in people”, expand high-level opening up, strengthen AI service capabilities Promoting in-depth reforms to unleash Strengthening talent development to b
Slide 15: Deepen Green and Low-carbon Development and Proactively Fulfill Social Responsibility
Deepen Green and Low-carbon Development and Proactively Fulfill Social Responsibility Green Development Social Responsibility Continued decline in greenhouse gas emissions per Accredited with “Asia’s Best CSR” by unit of total volume of telecommunications services Corporate Governance Asia for 6 con
Slide 16: Strong Commitment to Shareholder Return
Strong Commitment to Shareholder Return DPS and Payout Ratio RMB FY25 Payout Ratio FY25 DPS 4.7% 0.2720 0.2598 75.0% 3.0p.p. RMB 0.2720 4.7% 0.2332 75.0% 72.0% The Company attaches great importance to 70.1% shareholder returns; taking the overall shareholders’ interest, the Company’s profitability
Slide 17: Seizing Opportunities for the Future and Striving for a Solid Start to the “15th Five-Year Plan”
Seizing Opportunities for the Future and Striving for a Solid Start to the “15th Five-Year Plan” Vast potential for future development Optimise and upgrade traditional Cultivate and strengthen emerging and Create a new form of smart economy industries future industries “AI+”, open-source community,
Slide 18: Business Review & Financial Performance
Overview Business Review & Financial Performance Mr. Liu Guiqing, President & COO
Slide 19: Summary of Operating Revenues
Summary of Operating Revenues RMB Mil 2024 2025 Change Operating Revenues 529,417 529,559 0.0% Service Revenues 482,033 485,424 0.7% Mobile Communications Service 202,524 204,528 1.0% Wireline and Smart Family Service 125,680 125,979 0.2% Broadband Access 88,618 88,778 0.2% Smart Family 22,133 23,82
Slide 20: Fundamental Businesses Remained Stable
Fundamental Businesses Remained Stable Revenue and subs continued to grow Mobile communications service revenues Wireline and Smart Family revenues RMB Bil Mobile Subs Broadband subs Integrated ARPU RMB Bil 202.5 1.0% 204.5 439Mil 0.2% 126.0 201Mil RMB 130.5 125.7 Mobile ARPU Broadband blended ARPU
Slide 21: Industrial Digitalisation Promotes Digital and Intelligent Transformation of Thousands of Industries
Industrial Digitalisation Promotes Digital and Intelligent Transformation of Thousands of Industries AI+ Digital Platform Project contract No. of segmented industry AI upgrade of self-developed No. of informatisation project amount AI+ solution industry digital platform for customers 11.9% >350 >80
Slide 22: Accelerating the Transformation and Upgrading to Token-Based Operations
Accelerating the Transformation and Upgrading to Token-Based Operations “Five-in-One” Intelligent Cloud System: Token Operations Framework Power-compute Xirang Edge Compute-network Localised Cross-border Advantages Coordination platform computing integration services services No. of edge compute nod
Slide 23: Deepening Quantum / Security Service Capabilities
Deepening Quantum / Security Service Capabilities Robust business growth maintained Cloud Dam revenue RMB3.87Bil 20.9% Security connection ports 1.032Mil 69% >50 quantum+ scene solutions Security Quantum No. of industry customer >5,000 Cloud Dam Anti-DDOS / “Terminal-edge-network- Security Brain /
Slide 24: Rapid Development of Emerging Platform-based Businesses
Rapid Development of Emerging Platform-based Businesses IoVT IoT Revenue RMB 7.8Bil 31.2% e-Surfing IoT platform World’s first largest and most extensive billion-grade cross-cluster scheduling No. of terminals 16.15Mil No. of AI calls >5.6Bil per day Ranks leader quadrant of PRC’s AIoT platform Co
Slide 25: Rapid Growth of International Business
Rapid Growth of International Business International business grew rapidly Continuous breakthroughs in strategic emerging businesses International business revenue Cloud AI IoVT IoT RMB Bil 14.1% 19.3 Revenue 36 % IoVT platform No. of SIM 50% 16.9 Leader in global overseas launched overseas Worldw
Slide 26: Precise Cost Allocation to Enhance Efficiency
Precise Cost Allocation to Enhance Efficiency RMB Mil 2025 Change Operating Expenses 489,885 0.1% • Persist in profitable investment and accelerated the upgrade of digital Incl. Depreciation & Amortisation 104,198 3.1% information infrastructure • Continued to enhance network quality and capability,
Slide 27: Solid Financial Strength Maintained
Solid Financial Strength Maintained EBITDA Debt-to-asset ratio EBITDA 2.1% RMB Bil Debt-to-asset ratio 1.1p.p. 2.1% 1.1p.p. 143.9 47.3% Supports healthy corporate 140.8 development 46.2% Corporate credit rating ranked the highest AAA 2024 2025 2024 2025 27
Slide 28: Thank You!
Thank You! For further information & enquiries, please contact our Asia’s Best CSR Corporate Sustainability Leadership Awards Investor Relations Department at ir@chinatelecom-h.com or visit www.chinatelecom-h.com Best Listed Company in Best Telecommunication Investment Value Services Company in Chin
Slide 29: Appendices
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Slide 30: Appendix 1: Extracted from Audited Consolidated Statement of Comprehensive Income
Appendix 1: Extracted from Audited Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025 (IFRS Accounting Standards) RMB Mil 2024 2025 Change Operating Revenues 529,417 529,559 0.0% Service Revenues 482,033 485,424 0.7% Operating Expenses (489,614) (489,885) 0.1% Net Fin
Slide 31: Appendix 2: Extracted from Audited Consolidated Income Statement (CASs)
Appendix 2: Extracted from Audited Consolidated Income Statement for the Year Ended 31 December 2025 (CASs) RMB Mil 2024 2025 Change Operating Revenues 523,569 523,925 0.1% Operating Costs 373,498 371,562 (0.5%) Taxes and Surcharges 2,184 2,349 7.6% Selling Expenses 55,482 53,897 (2.9%) General and
Slide 32: Appendix 3: Extracted from Audited Consolidated Statement of Financial Position
Appendix 3: Extracted from Audited Consolidated Statement of Financial Position as at 31 December 2025 (IFRS Accounting Standards) RMB Mil 2024.12.31 2025.12.31 Current Assets 188,125 206,135 Non-current Assets 678,500 664,509 Total Assets 866,625 870,644 Current Liabilities 325,377 323,713 Non-curr
Slide 33: Appendix 4: Operating Figures
Appendix 4: Operating Figures Selected Operating Metrics for the Year Ended 31 December 2025 Subscriber (Mil) 2024.12 2025.12 Change Mobile 425 439 14.13 5G network 251 302 51.08 Wireline Broadband 197 201 3.68 IPTV 128 128 0 IoT Connected Devices 628 746 118.39 2024 2025 Change Mobile ARPU (RMB) 45