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1、China Telecom Corporation Limited19 Mar 2014 | www.chinatelecom-Forward-Looking StatementsCertain statements contained in this document may be viewed as “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the U.S. Securiti
2、es Exchange Act of 1934 (as amended). Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of China Telecom Corporation Limited (the “Company”) to be materially di
3、fferent from any future performance, financial condition or results of operations implied by such forward-looking statements. In addition, we do not intend to update these forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Compan
4、ys most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Companys other filings with the SEC.2 | 2013 Annual ResultsPresented ByMr. Wang XiaochuChairman & CEOMr. Yang JiePresident & COOMadam Wu AndiEVP & CFO3 | 2013 Annual Results1.2.3.O
5、verviewBusiness ReviewFinancial Performance4 | 2013 Annual ResultsHighlights12345Robust business development optimized revenue structure & drove double-digit growth in revenue & net profitMobile scale expansion with enhanced customer value & scale benefitsCompleted intensive phase of fibre network u
6、pgrade in cities as planned, boosting broadband growth & long-term competitivenessTo deploy LTE network appropriately with regard to government policy & business development, building a nationwide integrated 4G/ 3G high-speed network to enhance operating returnTo deepen comprehensive reform for crea
7、ting a “New China Telecom”, capitalizing on external opportunities5 | 2013 Annual ResultsSolid Growth Momentum20122013ChangeOperating Revenue (RMB Mil)283,176321,58413.6%Operating Revenue (Excl. Mobile Terminal Sales) (RMB Mil)258,419284,14910.0%EBITDA (RMB Mil)70,87496,55136.2%EBITDA Margin27.4%34.
8、0%6.6ppNet Profit (RMB Mil)14,94917,54517.4%EPS (RMB)0.1850.21717.4%Both revenue & net profit achieved double-digit growthNotes: Unless otherwise stated in this presentation1. Net Profit represented profit attributable to equity holders of the Company.2. 2012 data were restated to include the retros
9、pective impact of the acquisition of China Telecom (Europe) Limited.3. EBITDA = Operating Revenue Operating Expenses + Depreciation & Amortization; 2012 EBITDA was arrived at after deducting the Mobile Network Leasing Fee of RMB25.5 bil paid to the parent company in the year. The Company completed t
10、he CDMA network acquisition from the parent company by end-2012, resulting in substantial saving of Mobile Network Leasing Fee starting from 2013, while the Company is required to bear the whole amount of mobile network maintenance fee. In 2012, the parent company bore its share of mobile network ma
11、intenance fee of approximately RMB7.1 bil.4. EBITDA Margin = EBITDA / Operating Revenue (Excl. Mobile Terminal Sales)6 | 2013 Annual ResultsDeepened Strategic Transformation to Strengthen Growth MomentumRevenue Structure24.2%17.4%43.1%15.3%2012 Wireline Voice Mobile Voice28.9%Growth18.1%businessesac
12、countedfor 88.0%(S 3.3ppvs 2012)41.0%12.0%2013 Wireline Data & Others Mobile Data & OthersRobust business performance with increasing mix from growth businessesOperating revenue (Excl. Mobile Terminal Sales) maintained double-digit growth (10.0%) surpassing industry average (8.7%) & GDP growth (7.7%
13、)Mobile as the key growth driver, contributed close to half of the operating revenue7 | 2013 Annual ResultsCompleted Intensive Fibre Network Upgrade & Set to Accelerate LTE Network DeploymentCAPEXRMB Mil79,99280,30029,359Mobile42,300Broadband,50,633Internet &Others38,00020132014ELeverage integrated
14、operation edges of two super-fast networks (LTE+FTTH) to enhance future competitiveness2013 AchievementCompleted intensive phase of fibre network upgrade in cities as planned to push general coverage in cities with 20Mbps & rural areas with 4Mbps customer access bandwidth; with 100Mbps coverage reac
15、hing 84 mil home passesOptimized 3G network & expanded capacity in high data traffic areas; commenced LTE network deployment in hotspot areas2014 Investment FocusTo deploy LTE network appropriately with regard to government policy & business development, building a nationwide integrated 4G/ 3G high-
16、speed network to enhance customers experience & operating returnCarrying networks; broadband access; capability enhancement of intelligent network & integrated information services8 | 2013 Annual Resultse-Surfing 4G to Drive Future Growth & ReturnOne hybrid LTE network of integrated resourcesto boos
17、t investment return & operating efficiencyOne LTE network incorporating both TD & FDD LTE accesses, with most of the LTE CAPEX supporting both TD & FDD LTE services (incl. infrastructure, towers & core network) & flexible deployment of more spectrum resources for enhanced returnLTE deployment starts
18、 from hotspots in densely populated areas of the citiesTo overlay on existing superior nationwide 3G & high-speed fibre broadband networks to provide customers with high-speed & seamless data service experience Launched LTE services in nearly 100 major cities in mid-Feb 2014, with the first batch of
19、 4G data devices all compatible with TD-LTE Currently applying for LTE-FDD trial licence while expanding width & depth of LTE network coverage in major cities to create superior network quality & accelerating e-Surfing 4G handset value chain development to assure superior 4G handset service experien
20、ce & investment return in future9 | 2013 Annual ResultsIncrease Dividend to Enhance Shareholders ReturnDividend Per ShareHKD0.0950.08520122013The Board of Directors recommends to the shareholders a final dividend of HKD0.095 per share for 2013, up 11.8%Recommend to increase dividend for 2013 with du
21、e regards to shareholders return, cash flow & capital requirement for future developmentMaintain appropriate funding position to answer the capital requirement of long-term sustainable growthStrive to enhance future profit while paving the way for future dividend increase10 | 2013 Annual ResultsTo D
22、eepen Comprehensive Reform to Enhance Efficiency & ReturnCreateLift staff vibrancyincremental value& corporate efficiencyShareholders & staff to sharesuccess & returnOptimizecompensationmechanismFundamental businessesCarry out market-oriented reform, bottom-up from the basic operating units to stimu
23、late vitalityEmerging businessesDevise fully market-driven mechanism & adopt segregated operating systems toenhance competitiveness Further implement “sub-dividing performance evaluation units” & promote bidding with performance contract Stream-line organization structure & strengthen authority dele
24、gation Enlarge open cooperation & capitalize on the complementary resources with partners Establish market-oriented management, incentive & control systems & promote shareholding by employeesExcel check & balance system,Strengthen centralized IT capabilities torisk prevention mechanismefficiently su
25、pport management systems11 | 2013 Annual ResultsStrive to Create a “New China Telecom”Blue OceanOpportunities:4G LTEBig DataInternetCloudof ThingsServicesMobileInformatizationInternetMobileInternetServicesFinancePayment201720131/2Growing service revenueEmerging Businesses:Data traffic operation,1/4m
26、ix from EmergingInternet applications,BusinessesInformatizationServices.Shareholders & Corporate ValueCustomers ValueCoreCompetence12 | 2013 Annual Results1. Overview2.3.Business ReviewFinancial Performance13 | 2013 Annual ResultsRevenue BreakdownRMB Mil20122013ChangeMobile117,826151,18628.3%Service
27、 Revenue92,803113,75122.6%Voice49,16658,21718.4%Data43,63755,53427.3%Others25,02337,43549.6%Wireline165,350170,3983.1%Voice43,36938,633-10.9%Data114,079122,9097.7%Internet Access67,78271,4325.4%Incl. Wireline broadband66,73870,8216.1%VAS & Integrated Information Services30,72034,27411.6%Lease of Tel
28、ecommunications Network Resources15,57717,20310.4%Others7,9028,85612.1%Total283,176321,58413.6%Notes:1. 2013 Wireline Voice Revenue included RMB22,920 mil from local voice, RMB8,702 mil from DLD, RMB1,217 mil from ILD and RMB5,794 mil from interconnections.2. Mobile Others mainly included revenue fr
29、om sales of terminals.3. 2012 data were restated to include the retrospective impact of the acquisition of China Telecom (Europe) Limited.14 | 2013 Annual ResultsMobile Scale Expansion with Industry-leading Mobile Revenue GrowthMobile Service Revenue113,751RMB Mil92,80355,53443,637S 27.3%49,166S 18.
30、4%58,21720122013Mobile VoiceMobile DataMobile Subs54.853.9Mil185.58160.62103.113G ARPU:69.05RMB71.52G ARPU:RMB38.22012.122013.122G Subs3G Subs Mobile ARPU (RMB)Fully leveraged superior strengths in 3G network& services to rapidly expand mobile scale with customer value enhancedFast mobile scale expa
31、nsion underpinned by superior 3G network, fast proliferating smartphones & rich offering of mobile Internet applications Scale development of 3G drove rapid mobile subs growth, achieving 3G net add of 34 mil, to 103 mil (3G subs as % of mobile subs: 56%) Mobile net add driven by industry application
32、s adoption: 13 milData services effectively enhanced customers experience & value, lifting mobile ARPU by 1.7% yoy 3G ARPU remained steady: RMB71.5 (vs 2012: RMB71.8)15 | 2013 Annual ResultsRapidly Growing Mobile Data Traffic & Revenue3G Handset Internet AccessRevenue22,908RMB Mil175.112,16372.32012
33、20133G Handset Data Traffic (kTB)3G Handset Subs Monthly Average Data TrafficMB19013421.423.7201220133G Handset Internet Access ARPU (RMB)2013 Key AchievementsTerminal-led Smartphone: 600 modelsRMB1,000-smartphones: 300 models Diversified supply of CDMA chipsetsApplication-driven Developed integrate
34、d platforms & strengthened open collaboration to drive fast growth of Internet applications Created mobile Internet portal & expedited smart-city applications & industry-applications development2014 Key InitiativesRural areas: Drive scale via strong promotion of low-end smartphones (e.g. RMB299) lev
35、eraging the superior 3G networkCity areas: Offer super-fast 4G/3G services with reasonable packages to increase data traffic & revenue, while alleviating customers usage concern16 | 2013 Annual ResultsResilient Wireline PerformanceWireline RevenueRMB Mil165,350170,398121,981S 8.0%131,76543,369T 10.9
36、%38,633Leveraged fibre network & ICT service strengths to accelerate development of growth businesses (wireline broadband, VAS & integrated information services, etc.) & effectively offset Wireline Voice revenue declineFurther strengthened integrated services & packages of wireline, mobile & ICT ser
37、vices to enhance mutual-promoting developmentDeclining revenue contribution from Wireline Voice effectively mitigated operating risks20122013Wireline VoiceWireline Data & Others17 | 2013 Annual ResultsSustained Solid Growth in Wireline Broadband Amid Mounting CompetitionWireline Broadband RevenueRMB
38、 Mil70,82166,73866.662.120122013Wireline Broadband ARPU (RMB)SubscribersMil100.1090.122012.122013.12Leveraging superior network & unmatched service quality to enhance customers satisfaction & mitigate competitive pressureMultiple competitive advantages Unlimited data usage package with high speed &
39、stable service without constraints from spectrum limitation Pioneered to introduce 100Mbps family broadband service Consistently ranked No.1 in MIITs wireline broadband service satisfaction assessmentEffectively enhanced customers experience & satisfaction, moderated ARPU decline & lowered impressio
40、n pricing via accelerating customer access bandwidth upgrade & enriching content & applicationsTo integrate with high-speed 4G/3G networks to offer customers superior broadband services18 | 2013 Annual ResultsComprehensive Development of Wireline VAS & Integrated Information ServicesRevenueRMB Mil34,27430,72020122013ICT, IDC & iTV RevenuesRMB Mil10,5618,8397,8015,9231,7282,782ICTIDCiTV20122013Expand VAS & Integrated Information Services to nurture new growth engines & pull fundamental services growthRiding on the fast development of Internet to expedite developmen