CHINA UNICOM (00762) announced its financial results for the 2025 fiscal year. The company reported operating revenue of RMB 392.223 billion, representing a year-on-year increase of 0.68%. Profit attributable to equity holders amounted to RMB 20.816 billion, up 0.98% compared to the previous year. Earnings per share were RMB 0.68, and the board has proposed a final dividend of RMB 0.1329 per share. Net cash inflow from operating activities was RMB 90.17 billion, while capital expenditures totaled RMB 54.15 billion. As of December 31, 2025, the company's asset-liability ratio stood at 44.6%.
The connectivity business demonstrated steady growth. The company focused on stabilizing operations and promoting development, achieving positive progress in balancing quality improvements with reasonable quantitative growth. The subscriber base continued to expand, with mobile and broadband users reaching record highs. Mobile billing subscribers exceeded 357 million, with a net addition of 13.32 million for the year. Fixed-line broadband subscribers surpassed 129 million, with a net increase of 7.61 million.
By leveraging broadband breakthroughs to drive integrated development, the company strengthened its foundation for sustainable growth. Through targeted strategies and the implementation path of "expanding broadband scale, adding elements to integration, promoting development through integration, and enhancing value via integration," user quality and structure continued to improve. The integrated service penetration rate rose to 78.3%, and the value of new mobile and broadband subscribers surpassed last year's levels.
Product innovation in the home integration segment is creating a second growth curve. Seizing opportunities in artificial intelligence, the company deepened "AI+ product innovation," enhanced multi-application integration and multi-scenario convergence, and accelerated the cloudification and intelligent iteration of smart home products. Focusing on core smart home entry points and control hubs, it launched customized terminals like "Zhijia Tongtong." Cloud-intelligent products, including Unicom Cloud Disk, Unicom Ultra HD, Unicom Home Viewing, and cloud-intelligent phones/computers, developed rapidly, serving over 300 million users and gradually forming a new growth driver.
Integration of "devices, networks, cloud, intelligence, and security" accelerated, with the Internet of Things (IoT) business achieving further breakthroughs. The number of IoT connections reached 720 million, adding 98.33 million during the year. Significant progress was made in the new energy vehicle market, with the company capturing over 65% of new connected vehicle shares.
The computing power business experienced scaled growth. The company established intelligent computing clusters, strengthening resource allocation in national computing hub nodes and green computing demonstration provinces. The scale of standard racks exceeded 1.1 million, with seven 100-megawatt-level AIDC parks completed. Intelligent computing capacity reached 45 EFLOPS. Construction of the new "Eight Vertical and Eight Horizontal" backbone optical cable network advanced, adding over 9,000 kilometers to enhance interconnectivity between computing hubs and support regional coordinated development.
Unicom Cloud was upgraded, evolving towards an AI cloud. The company deepened its practice of hyper-scale native intelligent cloud, improved unified orchestration and scheduling capabilities, and established a new computing power operation model integrating "applications, models, and resources." It supported the development of over 180 provincial and municipal government clouds and empowered nearly 400,000 enterprise customers in their digital and intelligent transformation, building the "AI Zhi Xuan Unicom Cloud" brand.
The company opened its digital-intelligent platforms, establishing a national AI application pilot base and launching platforms such as Yuanjing Wanxiang Data Engineering Platform, Yuanjing MaaS Platform, and Yuanjing Wanwu Agent Platform. It accumulated over 400 TB of high-quality datasets, provided more than 140 mainstream industry models, and attracted over ten thousand developers to help customers quickly build intelligent agent applications.
Customer service levels were further enhanced. The company deepened convenient services to convey "Unicom's Warmth," implementing ten practical service initiatives and activities like "Easy to Handle, Assured to Use." The 10010 hotline optimized processes for precise service, provided dedicated support for major events, and offered exclusive services for elderly and military families. Service outlets underwent comprehensive transformation to improve efficiency, reduce wait times, and build a new smart service ecosystem, including elderly-appropriate and anti-fraud services. The China Unicom APP expanded its service scenarios, strengthened tariff transparency and service guidance, and reached over 110 million monthly active users.
For enterprise clients, the company empowered digital transformation, serving new industrialization with over 9,000 5G-enabled factories. Revenue from 5G private network projects reached RMB 12.3 billion, up 51% year-on-year. It supported digital government initiatives by iterating economic operation platforms, aiding more than 20 national ministries and over 20 provinces in macroeconomic decision-making.
Innovative intelligent services showcased "Unicom's Intelligence." The company launched the Tongtong customer service agent, offering 177 multi-modal interactive service scenarios, shifting from standardized responses to personalized dialogues for more intuitive information queries, convenient service handling, and faster issue resolution.
Security capabilities were consistently strengthened. An AI full-stack security protection system was established, making Unicom the first company in China to achieve the highest level rating in the National Data Security Capability Maturity Model (DSMM). Data security management capabilities reached leading domestic levels. Through the "Mogong" security operation service platform, over 200 security projects were implemented. The "Security Hui" platform, China's first cybersecurity industry chain supply-demand对接 platform, served more than 27,000 customers.
Network connectivity capabilities continued to improve. Deepening co-construction and sharing, the number of 5G mid-band base stations exceeded 1.54 million, and low-band available base stations surpassed 1 million, significantly enhancing coverage in key scenarios. Broadband coverage was continuously optimized, with broadband ports exceeding 280 million and overall urban residential coverage surpassing 96%. The proportion of 10G PON increased by 4.5 percentage points to 86%. Preliminary deployment of the broadband core network (BNC) was completed in 20 cities across 14 provinces, resulting in an advanced network architecture and significantly enhanced service integration and innovation capabilities.
An integrated layout for intelligent computing new infrastructure began to take shape. AIDC facilities were upgraded for intelligence, with standard racks exceeding 1.1 million. Large-scale parks covered national hub nodes, and resources were deployed across 31 provincial capitals and key cities. Intelligent computing capacity of 45 EFLOPS effectively supported business development, with backbone cloud pools covering 252 cities.
Resource supply effectively supported market development. The company enabled 5G-Advanced capability upgrades, deploying 5G-A carrier aggregation in all prefecture-level cities and launching RedCap commercially in over 300 cities. It supported the restructuring of the southern broadband convergence system and coverage of segmented markets, achieving a 95.8% resource reach rate in newly delivered residential areas. Cloud-intelligent products met the "Four 10 Million" development target, completing a national resource layout to satisfy rapidly growing business demand.
The foundation of network security was further solidified. The new "Eight Vertical and Eight Horizontal" backbone optical cable network added over 9,000 kilometers of lit fiber, and 400G backbone transmission network coverage was continuously enhanced. The company completed tasks for building a simplified network, largely finalizing the northern aggregation area and achieving 75% progress in the south, resulting in annualized OPEX savings of RMB 1.35 billion and enhanced network security and stability.