China Unicom’s quarterly report: The epidemic poses a challenge to operations, and net profit drops by 13.8%

China Unicom’s quarterly report: The epidemic poses a challenge to operations, and net profit drops by 13.8%
After the market on April 22, China Unicom’s A-share listed company released the first quarter of 2020 financial report. The financial report shows that this year, the new coronavirus epidemic has caused certain challenges to the company’s operations, especially in business expansion and new user development., 5G network construction and bad debt risk.The company’s first-level operating income is 73.8 billion, with an annual increase of 0.9%; net profit 36.700 million, down 13 every year.8%; net profit attributable to shareholders of listed companies fell by 14.1%.The financial report shows that in the first quarter of 2020, China Unicom’s mobile billing users decreased by 7.47 million net users to 3.1.1 billion households, of which 4G users reached 2.5.5 billion households.The ARPU (average monthly tariff) of mobile billing users is RMB 40.0 yuan.Facing challenges such as market saturation, fierce market competition, and the new coronavirus epidemic, the company deepened transformation and innovation, strengthened differentiation and Internet-based operations, accelerated the cultivation and scale expansion of industrial Internet services, strengthened integrated operations, and strictly controlled user developmentCost, maintain company value, and strive to promote development.In terms of mobile business, China Unicom stated that since the second half of last year, it has adjusted its business strategy in a timely manner, strengthened self-discipline, insisted on rational and standardized competition, and switched from focusing on the number of user growth to focusing on the quality and value of user development and deepening transformation and innovation, Strictly control marketing expenses, invalid and inefficient products and channels. Although the development of mobile business will be affected in the short term, it is believed to be beneficial to the company’s long-term development and maximum value.The good news is that in the first quarter of 2020, China Unicom ‘s industrial Internet business revenue was RMB 114.4.8 billion, an increase of 32 from the same period last year.2%.Benefiting from the rapid growth of innovative business, the fixed-line main business income reached RMB 298.9.4 billion, an increase of 11 from the same period last year.1%.The overall main business income was RMB 683.07 billion, an increase of 2 from the same period last year.3%.China Unicom said in its financial report that the epidemic also accelerated the need for economic and social digitalization, networking, and intelligent transformation, bringing new business opportunities to the company.The company makes full use of new technologies such as big data, AI and 5G to provide strong support for the precise prevention and control of epidemics, smart government affairs and corporate resumption of production, while accelerating the transformation of Internet-based operations, innovating communication supply, and actively promoting new information application productsTurn crisis into opportunity.Sauna, Yewang promised to edit Li Weijia proofread Li Ming