China Telecom reports record double-digit growth in 2021

China Telecom’s “Cloudification and digital transformation” strategy has paid off. In 2021, China Telecom’s net profit reached RMB25,948 million, representing an increase of 24.5% year-on-year. Operating revenues amounted to RMB439.6 billion, growing by 11.7% over the preceding year.

In 2021, the company implemented its “Cloudification and digital transformation” strategy, developed integrated intelligent information services with a customer-oriented approach, and built core sci-tech innovation capabilities and the new information infrastructure. The company also established industrial and capital ecologies featuring strong alliances and open cooperation, while carrying out system and mechanism reforms, achieving new results in high-quality development.

China Telecom continued to enhance its 5G coverage and network quality, innovated e-surfing cloud handset device ecology, enriched the 5G application and privilege portfolio, and launched 5G cloud packages. The company optimized the service experience for users through ultimate convergence, facilitated the upgrade of individuals’ demands for emerging information consumption, continued to unleash the new round of data traffic benefits, and propelled the scale and value enhancement of its mobile subscribers.

In 2021, mobile communication service revenues reached RMB184.2 billion, representing an increase of 4.9% from the previous year. The total number of subscribers reached 372 million, with subscribers’ net addition maintaining the industry-leading position for four consecutive years. Meanwhile, the penetration rate of 5G package subscribers reached 50.4%, maintaining the industry-leading position.

Combining cloud, security, 5G, data, and intelligence, China Telecom developed scene-based integrated intelligent solutions and proactively empowered the transformation and upgrades of traditional industries. In 2021, revenue from industrial digitalization reached RMB98.9 billion, representing year-on-year growth of 19.4%.

On 20 August 2021, the company successfully listed on the Shanghai Stock Exchange, leveraging wider financing channels to expand ecological cooperation and implement more flexible incentive measures.

Chairman Ke noted that China Telecom has had a promising start under the “14th Five-Year Plan” in 2021. In 2022, the company will seize opportunities arising from the development of the digital economy, putting all efforts into promoting high-quality development and jointly creating a new pattern for the information and communications industry.