The revenue from computing power services accounted for over 15%. China Unicom (600050.SH. In 2025, the net profit attributable to the parent company was 9.13 billion yuan, an increase of 1.1%.

China Unicom (600050.SH) announced its 2025 annual report, with operating revenue reaching 392.22 billion yuan, a year-on-year increase of 0.7%. Of this, main business revenue was 347.74 billion yuan, up 0.5% year-on-year. Total profit was 25.30 billion yuan, with net profit attributable to the parent company of 9.13 billion yuan, an increase of 1.1%. In 2025, the company’s net cash flow from operating activities was 91.41 billion yuan, capital expenditures totaled 54.15 billion yuan, and free cash flow was 37.26 billion yuan, up 24.7% year-on-year. As of the end of 2025, the company’s asset-liability ratio was 43.9%.

The announcement shows that revenue from strategic emerging industries accounted for over 86%, with computing power business revenue exceeding 15%, an increase of 1.1 percentage points compared to the previous year. Artificial intelligence revenue grew over 140% year-on-year. International business revenue was 13.6 billion yuan, up more than 9%. The company’s annual capital expenditure was 54.2 billion yuan, with capital expenditure as a percentage of main business revenue decreasing to 16%. Through deepening co-construction and sharing, building a simplified network, and achieving annualized OPEX savings of 1.35 billion yuan, investment efficiency was improved. Capital expenditure in 2026 is expected to be around 50 billion yuan, with over 35% allocated to computing power investments.

The company’s total users surpassed 1.2 billion, an increase of 110 million from the previous year. Maintaining the integrated development of broadband and mobile networks, net user growth exceeded 20 million. The penetration rate of integrated services exceeded 78%, and ARPU of bundled packages remained above 100 yuan. Accelerating scenario-based transformation, the Internet of Things (IoT) scale exceeded 700 million, and the connected vehicle market maintained a leading position. 5G private network revenue was 12.3 billion yuan, an increase of over 50%. The company is seizing opportunities in the low-altitude economy, developing integrated low-altitude intelligent networks that combine communication, sensing, and computing. It obtained a satellite mobile communication business license to promote large-scale direct satellite connections for mobile phones.

Additionally, the board of directors proposed a final dividend of 0.0523 yuan per share (tax included).