DividendDividend hike to improve shareholder return, with a full-year dividend increase of 20.1% and a payout ratio of 60%.
Earnings1H24 earnings increased by 11.3% y/y to RMB13.8bn, 12% higher than market expectations on stable margin and lower-than-expected tax provision.
Service RevenueService revenue up by 3.2% y/y to RMB346.0bn, with Unicom Cloud and data centre revenue increasing by 17.1% and 7.4%, respectively.