August 23, China Telecom released 2017 interim results, so far, China Telecom, China Mobile, China Unicom three major operators of the report disclosure completed, the performance of the three companies can be summarized as "robust", "strong" and "reverse"。In the case of increasing revenue and profits, the industry game is increasingly intensified。
Revenue and profit collective increase mobile leading pattern is difficult to change
Since entering the slide channel in 2013, the three major operators have collectively achieved double growth in revenue and profit for the first time。Whether in terms of revenue, profit or 4G users and other data, China Mobile is far ahead, in the field of fixed-line broadband, mobile catch-up effect is also very obvious。
China Telecom's performance grew steadily: operating income reached 1841.1.8 billion yuan, an increase of 4.1%;Service revenue amounted to 1658.4.7 billion yuan, an increase of 6.8%, higher than the industry average。EBITDA was 524.1.4 billion yuan, an increase of 3.7%。Net profit reached 125.3.7 billion yuan, an increase of 7.4%。The total number of mobile users reached 2.300 million households, a net increase of 14.85 million households;The number of 4G users reached 1.5.2 billion households, a penetration rate of 66%。The number of wired broadband users reached 1.2.8 billion households, a net increase of 4.98 million households, of which the number of fiber broadband (FTTH) users reached 1.1.7 billion households, the penetration rate reached 92%。
China Mobile's performance was strong: operating income was 388.9 billion yuan, an increase of 5.0%;Revenue from communications services was 348 billion yuan, up 6. 6 billion yuan year-on-year.9%;EBITDA was 140.7 billion yuan, an increase of 4.7%;Net profit was 62.7 billion yuan, an increase of 3.5%。The total number of mobile users reached 8.6.7 billion households, a net increase of 17.61 million;4G users reached 5.9.4 billion households, with a penetration rate of 69%。The number of wired broadband users grew rapidly, reaching 93.04 million, with a net increase of 15.42 million。
China Unicom achieved a reversal of performance, and the main performance indicators continued to improve: service revenue was 1241.100 million yuan, an increase of 3.2%;EBITDA is 435.600 million yuan, an increase of 5.At 5%, EBITDA accounted for 35% of service revenue.1%, an increase of 0.Eight percentage points;Net profit was up 68 percent year on year.9%，为24.2亿元。The total number of mobile users is 2.6.9 billion households, a net increase of 5.63 million;The total number of 4G users reached 1.3.9 billion households, a net increase of 34.26 million households, 4G penetration reached 51.5%。Fixed-line broadband access revenue was 215.600 million yuan, down 3 percent year-on-year。Fixed-line broadband users increased by 4% year-on-year to 76.92 million, with FTTH users accounting for 74%。
The explosion of mobile phone traffic has intensified competition from wireline broadband
The explosive growth of mobile phone traffic has become a common bright spot in the three major operators' mid-year financial results。The total mobile Internet traffic of China Telecom users increased by 126% year-on-year, and the number of 4G users reached 1.4G, a year-on-year increase of 56%, the growth rate further improved。In the case of China Mobile's mobile Internet unit price decreased by 36%, mobile Internet traffic increased by 107.5%;The number of 4G users has reached 1.4GB, which accounts for 95 percent of mobile Internet traffic.7%。The data of China Unicom is even more astonishing, the average monthly data traffic of 4G users reached 3330MB, and the data traffic of mobile Internet access increased by 325 year-on-year.7%，
The sharp increase in mobile traffic has led to an increase in revenue。China Telecom's mobile Internet revenue is already the company's largest revenue growth source, up 35 percent year on year.2%, accounting for 26% of revenue, an increase of 5.Five percentage points。China Mobile's wireless Internet revenue reached 187.7 billion yuan, accounting for the proportion of communication service revenue exceeding 50% for the first time, reaching 54%.Among them, mobile Internet traffic revenue reached 184.8 billion yuan, an increase of 33 percent year-on-year.7%, accounting for 53% of communications services revenue。China Unicom mobile Internet data traffic revenue reached 429.0 billion yuan, an increase of 22 percent.9%。
Operators continue to accelerate the development of 4G and traffic management, providing the strongest driving force for the development of the industry。
The development of cable broadband has also provided many bright spots for operators' financial reports。All three companies posted net increases in wireline broadband subscribers, with China Mobile seeing the strongest growth。More prominent is that the proportion of high broadband users increased rapidly, China Telecom 100 Mbit and above users accounted for 37%, China mobile 20Mbps and above bandwidth users accounted for 87.5%。The proportion of high-end users is large, and the rapid improvement of broadband network capabilities has brought opportunities for the development of home digital services, and effectively improved the revenue structure of operators。At the same time of the rapid development of wired broadband, it can be seen that the market game is intensifying。As the market for new subscribers becomes saturated, the situation of multiple broadband connections in one household begins to emerge。The focus of competition is not limited to price and speed, but also scalable digital services, which is why operators are vigorously developing broadband convergence products。(down to version 3)
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In order to consolidate growth points, operators continue to increase investment in 4G and broadband, while optimizing the product structure to meet the needs of market segments, accelerate the improvement of user value, and try to consolidate market share。
Build is the business ecosystem show is the partner industry chain
In the first half of this year, the "circle of friends" of the three major operators in each business ecosystem continued to expand, and the value brought by cooperation was concretely reflected in the financial report。For example, the total revenue of China Telecom's four major ecosystems, namely smart home, emerging ICT, Internet of Things and Internet finance, increased by 22 percent year-on-year.8%, accounting for 43% of the company's incremental service revenue.5%;China Unicom has actively deepened cooperation in various fields, especially win-win cooperation with Internet companies, and comprehensively promoted innovative business models such as 2I2C and 2B2C。
Like most Internet companies, operators began to learn to "play with friends" and "show partners", China Unicom in the information terminal Spring Fair and crowdfunding in mid-April.0 "Build a full ecological cooperation model" was proposed at the site.。China Telecom proposed the concept of building an "ecological Rubik's cube" at the Tianyi Intelligent Ecological Expo at the end of July, and the growth and maturity of the five business ecosystems were specifically elaborated in the half-year financial report。
Unlike previous models of strong cooperation such as resources and channels, ecosphere cooperation emphasizes endowments and capabilities in a certain segment, as Yang Jie, chairman of China Telecom, described: "The combination of different modules is flexible and varied, forming a unified organism.。Therefore, operators are no longer extensive cooperation posture, but the mode of cooperation fine to specific businesses, services and even a solution。
In the second half of the year, the competition between the three major operator ecosystems will continue, especially in industrial ecosystems such as NB-IoT and 5G。China Telecom will strengthen their respective longboards through network evolution, platform opening, deep cooperation, and supply upgrading, strengthen ecological synergy, and work with partners to build an "ecological Rubik's Cube".。"Building a win-win industrial ecology" is one of the four major tasks of China Mobile in the next step。The company will strengthen cooperation with all parties in the industry to jointly build a new industrial ecology that ADAPTS to digital innovation。In-depth cooperation with all parties in vertical field expansion, terminal marketing, and digital services to promote the maturity of the Internet of Things industry and achieve new growth in value。Because of the mixed reform, China Unicom will have a superior ecosystem environment, and the integration and development of the company has become an important task。The "circle of friends" of the three major operators in the future will have more breadth and depth。
Unicom mixed reform kicked off the comprehensive deepening of industry transformation
China Unicom disclosed the mixed reform plan at the same time as the release of the report, opening the prelude to the mixed reform。The 78 billion yuan raised will fill the network investment gap and improve service quality and user perception。The mixed reform has introduced 13 strategic investors who are "highly related and complementary to China Unicom's main business" and have synergies with the company, which is conducive to China Unicom's cross-border integration and makes up for the shortcomings of the past industry reform。
In fact, the business launched by China Unicom and Internet companies has become the biggest highlight of Unicom's report。The company gives full play to the advantages of big data and cBSS system platform, fully promotes innovative business models such as 2I2C and 2B2C, expands market segments, and achieves mobile service revenue 768 under the low user development cost and thin subsidy model.400 million yuan, an increase of 5.2%, the growth rate exceeds the industry average。2I2C and 2B2C innovative business is simply a completely Internet-based new marketing model through a high degree of integration with Internet companies。The introduction of the mixed reform will bring further benefits to the development of China Unicom's innovative business。
In addition, China Unicom plans to establish a sound corporate governance mechanism for mixed-ownership enterprises with coordinated operation and effective checks and balances, such as the establishment of employee stock ownership and professional manager systems, the establishment of long-term incentive and restraint mechanisms, the standardization of corporate governance structure, and the full play of the functions of the board of directors。Through the improvement of the internal system and mechanism and the loosening of the external administrative management, China Unicom will radiate new vitality。However, mixed reform is also full of challenges。One of the most difficult problems is the problem of people, the problem of people's hearts。
With transition 3.With the implementation of 0, China Telecom has started a comprehensive reconstruction of network, business, operation and management, and established a corresponding system mechanism and operation model as soon as possible。In the first half of the year, China Telecom promoted the reform of organizational system and operating mechanism with the core of marketization。Build a professional operation organization system, respond to the professional needs of the first line, and form a strong vertical support;Further promote the "three-dimensional linkage" of subcontracting, inverted triangle support and professional operation, so that front-line employees want to do, can do, and are easy to do;Subcontracting has become a model for state-owned enterprise reform。We will promote human resources reform, focusing on incentive and restraint mechanisms。Innovative "talent workstation" system, focusing on the training of enterprise transformation professionals;We will strengthen market-based employment mechanisms and stimulate the vitality of talented personnel。We will deepen the reform of resource allocation with value contribution as the core。
2017 marks the 20th anniversary of China Mobile's listing。The company said that it will comply with the new round of information technology revolution and industrial change sweeping the global trend, seize opportunities, actively meet challenges, in-depth implementation of the "big connection" strategy, and accelerate the horizontal expansion of connection scale, vertical extension of connection services and comprehensive breakthrough of connection applications。In the second half of the year, work will be carried out in four aspects: first, consolidating information and communication infrastructure;Second, deepen the integrated development of "four-wheel drive";Third, do a good job of supporting digital economy services;Fourth, build an industrial ecosystem for win-win cooperation。
China Unicom has opened the curtain of the mixed reform of state-owned enterprises, which will inevitably bring a huge butterfly effect on the industry。After the transformation, the new Unicom will definitely activate the emerging business of China's information and communication services, make China's telecom field truly introduce effective competition mechanism, and promote the transformation of telecom operators。