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China Tower (788.HK) Announces 2022 Annual Results

China Tower Steadily Implements “One Core and Two Wings” Strategy, Net Profit Maintains Rapid Growth; Dividend Payout Ratio Rises Further to 72.0%.

HONG KONG SAR – Media OutReach – 2 March 2023 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its annual results for the year ended 31 December 2022.

Performance Highlights

RMB Million 2022 2021 Change
Operating revenue 92,170 86,585 6.5%
EBITDA 62,844 63,017 -0.3%
Profit attributable to owners of the Company 8,787 7,329 19.9%
Basic earnings per share (RMB yuan) 0.0503 0.0419 20.0%
Key operating data
Number of tower sites (thousand) 2,055 2,038 0.8%
Number of tower tenants (thousand) 3,583 3,459 3.6%
Tenancy ratio (tenants / tower site) 1.74 1.70 2.4%

Our operating revenue grew steadily by 6.5% year-on-year, reaching RMB92,170 million in 2022. EBITDA[1] reached RMB62,844 million, with an EBITDA margin[2] of 68.2%. Profit attributable to owners of the Company was RMB8,787 million, with a year-on-year growth of 19.9%. Our net profit margin was 9.5%, showing a continued improvement in profitability.

Our cash flow remained robust, with net cash generated from operating activities for 2022 reaching RMB65,134 million. Capital expenditures stood at RMB26,207 million, while free cash flow[3] reached RMB38,927 million, or growth of 10.2% year-on-year. Our financial position remained healthy. As of 31 December 2022, total assets reached RMB305,560 million, interest-bearing liabilities were RMB79,119 million and our gearing ratio[4] was 27.7%, a decrease of 5.7 percentage points from the year before.

Shareholder returns are one of our priorities. After considering our profitability, cash flow, and future development needs, the board of directors of the Company (the “Board”) has recommended a final dividend of RMB0.03232 per share (pre-tax) for the year ended 31 December 2022, equivalent to a payout ratio of 72% of our annual distributable net profit.

Driven by the “5G + DAS” dual growth engines, TSP business grew steadily

We capitalized on the increasing penetration of 5G network coverage by reinforcing our advantages in resource coordination and sharing and professional management to streamline our construction and service models. This has enabled us to address our customers’ network construction needs in an intensive and effective manner. Our TSP business revenue reached RMB83,031 million in 2022, an increase of 3.5% year-on-year.

Tower business. We advocated for the inclusion of 5G base-station sites in development planning and played an active role in setting the wireless communications specifications for buildings. Complying with these specifications, we have been included in the administrative approval process for new construction projects, further strengthening our ability to coordinate and share resources. We launched innovative low-cost construction solutions to sharpen our capability in providing integrated wireless communications coverage solutions. A higher level of resource sharing enabled us to comprehensively satisfy customer demand for 5G construction. We completed approximately 745,000 5G base-stations during the year, of which more than 96% were delivered through sharing existing resources. In addition, we focused our efforts on tackling difficult sites and continued to enhance our service quality. Alongside an improving capability in site maintenance, customer satisfaction grew. In 2022, our Tower business generated revenue of RMB77,204 million, or year-on-year growth of 1.8%. As of 31 December 2022, we managed 2.055 million tower sites, representing a net increase of 17,000 sites from the end of 2021. The number of TSP tenants reached 3.362 million, an increase of 102,000 from the end of 2021, and the TSP tenancy ratio also increased from 1.60 to 1.65 over the same period of last year, showing a continuous increase in the level of site co-location.

DAS business. We focused on providing 5G coverage for key scenarios and key sectors including education, cultural tourism, transportation and healthcare, with an integrated approach to coordinating resources and demands. Playing an important role in coordinating site entry and construction, we were able to take up all DAS construction demand for key venues, scenarios and sectors, providing customers with differentiated and diversified indoor coverage solutions. In addition, we stepped up innovation to develop sharable DAS products and solutions. We enhanced our professional capabilities to optimize our advantages in providing low-cost and green and low-carbon DAS solutions, complemented by our quality services, driving accelerated growth in the DAS business. This business has increasingly become the second growth engine of our development. In 2022, our DAS business recorded revenue of RMB5,827 million, representing a year-on-year increase of 34.3%. As of 31 December 2022, we had covered buildings with a cumulative area of 7,390 million square meters, representing a year-on-year increase of 48.1%. Our high-speed railway tunnels and subway coverage reached a cumulative length of 20,040.2 kilometers, a year-on-year increase of 18.5%.

Grasping strategic opportunities to boost strong growth in Two Wings business

By leveraging the opportunities brought forth by the growth of the “digital economy” and the “dual carbon” goals, we focused on product innovation and business optimization to fortify our competitive advantages. As a result, the Two Wings business sustained a robust growth trajectory with revenue in 2022 reaching RMB8,904 and accounting for 9.7% of our overall operating revenue, an increase of 2.6 percentage points from the same period in 2021. The business contributed 49.7% to our incremental operating revenue for the year, an increase of 9.7 percentage points year-on-year, further solidifying our multi-pillar business development structure.

With a focus on “Digital Tower”, Smart Tower business growth accelerated. Serving the national strategic goals. We stood at the forefront of the digital economy to seize opportunities arising from its development, playing a proactive role in building the national governance system. By upgrading over 200,000 “telecommunication towers” to “digital towers”, we helped enforce fishing prohibition along the Yangtze River, as well as taking part in ecological restoration, farmland protection, forestry fire prevention and other national initiatives. In doing so, we contributed to projects including alleviating pollution, conserving the ecology of the Yangtze River and safeguarding China’s 1.8 billion mu of farmland. This approach not only supported the development of Ecological China and Beautiful China, but also enhanced efficiency and value of the Company. Enhancing product capabilities. We increased investment in research and development (R&D) to speed up product upgrade and iteration. Our Tower Monitoring products continued to establish their leadership centered around five areas – platform, data, algorithm, application and operation. We launched seven industrial application of Tower Monitoring products covering the smart protection of forestry, farmland, wheats, blue skies, reservoirs, fishery, and villages, as well as the smart monitoring of straw burning. These products helped us address the diverse needs of our customers. Upgrading customer services. We have built out a one-on-one, face-to-face and round-the-clock “companion” service system that covers every procedure to offer our customers professional, systematic and personalized services. We put in place sound information security and data protection and are continuously improving our customer service quality. In 2022, our Smart Tower business achieved revenue of RMB5,704 million, a year-on-year increase of 40.5%, of which RMB3,694 or 64.8% was generated from Tower Monitoring business.

Stepping up business development provided strong growth momentum for Energy business. Aligning with the national “dual carbon” goals, we leveraged our abundant site resources to continuously strengthen core capabilities, supporting our overarching strategy of developing our expertise, strengthening our platform, optimizing our service, and building our brand in this space. In core business areas such as battery exchange and power backup, we focused on scaling up and specializing operations. For our battery exchange business, we accelerated network expansion in a cost-effective manner, taking a deep dive into the takeaway and delivery market and strengthening collaboration with business customers to maintain growth in our user base. As of 31 December 2022, we have approximately 902,000 battery exchange users, an increase of 290,000 from the end of 2021, further strengthening our leadership position in terms of user base. For the power backup business, we focused on key sectors such as telecommunications and finance, enriching our standardized power backup products and marketing the four-in-one solution covering power backup, power generation, monitoring and maintenance, which plays an important role in supporting the smooth running of infrastructure in our society. In 2022, our Energy business achieved revenue of RMB3,200 million, a year-on-year increase of 54.5%, of which the battery exchange business accounted for RMB1,800 million, with its contribution to the Energy business reaching 56.3%.

Mr. Zhang Zhiyong, Chairman of China Tower said, “Looking ahead, we will remain focused on grasping the opportunities brought by the development of 5G new infrastructure, the digital economy, and the green-oriented transition of energy. Anchored around our positioning as a world-class information and communications infrastructure service provider and a highly competitive information and new energy applications provider, we will further the implementation of the “One Core and Two Wings” strategy and continue to drive development centered around sharing, service, innovation, technology and value creation. In doing so, we will build upon an operating system that is professional, intensive, delicate, efficient, and digitalized, solidifying the new paradigm of high-quality development and creating greater value for shareholders, customers, and society.”


[1] EBITDA is calculated by operating profit plus depreciation and amortization.
[2] EBITDA margin is calculated by dividing EBITDA by operating revenue, and multiplying the resulting value by 100%.
[3] Free cash flow is the net cash generated from operating activities minus the capital expenditures.
[4] Gearing ratio is calculated as net debt divided by the sum of total equity and net debt, then multiplied by100%. Net debt is calculated as the amount of interest-bearing liabilities minus the amount of cash and cash equivalents.

Hashtag: #ChinaTower

The issuer is solely responsible for the content of this announcement.

About China Tower (Stock Code: 0788.HK)

China Tower is the world’s largest telecommunications tower infrastructure service provider, and the Company always adheres to the philosophy of shared development and implements the “One Core and Two Wings” strategy. The Company is principally engaged in the construction, maintenance and operation of base station ancillary facilities such as telecommunications towers, public network coverage in high-speed railways and subways, and large-scale indoor Distributed Antenna Systems (DAS). Meanwhile, relying on unique resources to provide energy application services such as information application and intelligent battery exchange and power backup to the society, the Company strives to build itself into a world-class information and communications infrastructure service provider, and a highly competitive information and new energy applications provider. As of the end of 2022, the Company’s total assets amounted to RMB305,560 million. China Tower operated and managed 2.055 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.583 million tenants with the tenancy ratio of 1.74.

Fatal Accident at Construction Site Claims Life of Vientiane Woman

Woman falls to death at construction site in Vientiane Capital.
Woman falls to death at construction site in Vientiane Capital.

A woman was killed on Wednesday after falling into a drain construction site in Vientiane’s Sikhottabong District.

Backbase again named leader in Omdia Digital Banking Platform Report

Backbase achieved highest overall ratings for solution capability and customer experience

SINGAPORE – Media OutReach – 2 March 2023 – Backbase, the Engagement Banking leader, was again ranked as a leader in the Omdia Universe: Digital Banking Platforms, 2023. The report recommends Backbase as a candidate in all digital banking vendor shortlists, particularly for financial institutions seeking a wide-ranging platform that can be co-innovated for specific business goals. Backbase has continued to receive strong recognition by the analyst community as the innovation partner to help banks win in the platform era.

Consumers in APAC have high expectations towards banking services rendered to them, with leading banks continuously upgrading their banking technology to offer advanced banking and beyond banking experience to retain their customers. Built as one unified platform to engage and orchestrate frictionless experiences across all touchpoints at every stage of the customer lifecycle across retail banking, business banking, digital lending, and wealth management, Backbase has helped 150+ banks around the globe and in APAC rearchitect banking around their customers.

Backbase scored consistently strongly across all areas of the evaluation and achieved the highest overall ratings for solution capability and customer experience, according to report authors, Philip Benton and Ouliana Smith. The report credits Backbase retaining its leadership status to its strong solution capabilities and breadth of out-of-the-box journeys, combined with the ability to further customize. The breadth of the Engagement Banking Platform has increased significantly through investment in its off-the-shelf capabilities and its partner ecosystem, they further noted.

“From analyst evaluations, it is clear that all digital banking platforms are not made equal. The Backbase Engagement Banking Platform has been instrumental in modernizing the customer experience for our banking customers in Asia Pacific, launching them into banks of the future. Techcombank for instance comes up often in discussions as a bank which is leading in digital banking transformation, and that, to us, is success, “Riddhi Dutta, Regional Vice President, Asia, Backbase said. “The value Backbase brings is to provide efficiencies and innovation beyond basic digitalization of banking products, in order for banks to differentiate their digital banking services whether deployed on-premise, hybrid or in the cloud. We offer banks the power to hyper-personalize and secure a 360-degree unified view of customers across all lines of business and channels for a truly digital-first experience.”

Omdia recognizes the uniqueness of the Backbase Engagement Banking Platform, as it has been “designed on a single omnichannel banking platform architecture, as opposed to being built through acquisitions. The platform was created specifically for digital banking and as a facilitator to enable strong customization.”

The report cited banks’ prioritization of enhancing platform functionality to aid self-service and integrating digital banking with other channels to improve sales productivity. For most financial institutions, the authors added, it is not just about choosing the best off-the-shelf product; it’s also necessary to consider a vendor’s ability to enable and drive innovation, offer strong user experience, and provide advice on how to launch new products and services quickly and effectively.

To read the Omdia Universe: Digital Banking Platforms, 2023 report, click here.Hashtag: #Backbase #digitalbanking #engagementbanking #apac

The issuer is solely responsible for the content of this announcement.

Backbase

is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, EastWest Bank, HDFC, IDFC First, JudoBank, Techcombank, TPBank, and UBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

“No Driving on Footpath” Sign Goes Viral in Thailand

No Riding on Footpath Traffic Sign Photo Goes Viral in Thailand
The viral photo featuring the new footpath traffic sign (photo: Pravit Rojanaphruk)

A photo of a new traffic sign noticed in Bangkok went viral this week after a social media user posted it online.

DHL Global Forwarding opens facility in Brisbane to meet surging demand for perishable goods export

  • DHL Global Forwarding is investing 17 million AUD (11 million EUR) over ten years for the new 4,880sqm facility
  • It houses the largest international cold chain services in Brisbane
  • A green facility to help customers achieve a greener supply chain

BRISBANE, AUSTRALIA – Media OutReach – 2 March 2023 – DHL Global Forwarding, the freight specialist arm of Deutsche Post DHL Group, opens its newest facility in Brisbane to meet the surging demand for Australian perishable goods export, with an investment of AU$17 million (11 million EUR) over ten years.

New facility in Brisbane to meet the surging demand for Australian perishable goods export
New facility in Brisbane to meet the surging demand for Australian perishable goods export

Queensland’s total agricultural and food exports hit AU$10.72 billion in 2022, a steep 25.5% increase from the previous year. To cater to this growing demand, the newly launched 4,880sqm facility houses the largest international cold chain services in Brisbane at 1,700sqm, offering complete cold chain services for goods such as high-quality meat, fresh produce and seafood. It is at Brisbane airport with airside access, the first and only freight forwarder to have such access, and is close to the Port of Brisbane.

George Lawson, Managing Director, DHL Global Forwarding Australia said, “We built the new Brisbane facility to meet the fast-growing demand for perishables. The agricultural and fisheries sector is a key foundation of Queensland’s economy, and it has remained robust despite the disruptions caused by the pandemic. Queensland’s total agricultural and food export has seen a 16% increase from the average of the past five years and is set to continue rising in the foreseeable future. Expanding our facilities will help cater to this rising demand and help our customers transport these time and temperature-sensitive perishable goods quickly and efficiently. The new facility will also support general cargo growth in Queensland.”

Lachlan Elliott, Station Manager – Queensland, DHL Global Forwarding Australia added, “Queensland’s agricultural produce is renowned for being high quality, safe and nutritious, which makes it very popular among global consumers. In fact, Queensland exports more than half of its agricultural output. The right supply chain solutions are critical to ensuring that these perishables can reach consumers in pristine condition. Our new facility in Brisbane will do exactly that, especially in our environmentally sustainable offerings, to help customers achieve a greener supply chain.”

The new facility is aligned with the principles of Green Building Council of Australia (GBCA) 5 star Greenstar. A combination of green practices will allow the facility to reduce yearly carbon emissions by 458 tonnes, equivalent to taking almost 100 passenger vehicles off the roads for a year. It features solar panels, which allow for 35% annual energy offset and batteries to store excess solar energy for night operations. The facility also utilizes energy-efficient lighting with motion sensors, rainwater harvesting and EV charging points.

In addition, the facility boasts an open design to facilitate collaboration and hybrid working, and large areas of natural light indoors with various green spaces for recreation, to create a more comfortable workplace for employees.

Note to Editor:

Read more about the soaring global popularity of Australia’s produce such as avocados and salmon on DHL’s Logistics of Things.

Hashtag: #DHL

The issuer is solely responsible for the content of this announcement.

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 66 billion euros in 2020. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve zero-emissions logistics by 2050.

Cambodia Removed From FATF Financial Crimes Gray List

Cambodia Taken Off Jurisdictions Under Increased Monitoring List
Picture of confiscated illegal money from drug cartel in Los Angeles. ( Photo : ice.gov )

Cambodia was taken off the Financial Action Task Force (FATF) “gray list” last week due to concentrated efforts by authorities to crack down on financial crimes, especially money laundering in the country.

Young people demand healthier food environments in East Asia and the Pacific

Young people co-create and launch a campaign to support UNICEF’s ‘Fix My Food’ initiative for healthier food environments for children in the region

BANGKOK, THAILAND – Media OutReach – 2 March 2023 – The food systems in East Asia and the Pacific, known for its diverse and vibrant food culture is changing rapidly. Traditional healthy fresh food diets are being replaced by an increasing consumption of highly processed ‘junk’ food and drink full of sugar, salt, and unhealthy fats.

7 Fix My Food Group Photo .jpg

Children across the region, are growing up in food environments that promote the sale and consumption of these ‘junk’ foods and drinks, rather than healthier alternatives. As a result, more than one in three adolescents are drinking at least one sugary drink a day; more than half consume a fast-food once or more a week; and less than half, are eating enough fruit and vegetables every day.

“Today, children and young people are surrounded by junk-food marketing wherever they go: online, on their way to school, college or university, on television, and even while standing in the checkout-line of the grocery store. The result is that too many children in East Asia and the Pacific have poor, unhealthy diets that are having a devastating impact on their health and well-being. It is about time that we change this.” shared Ms. Debora Comini, Regional Director, UNICEF East Asia and Pacific.

UNICEF has been working closely with governments and partners to introduce policies and legislation to curb the increase in marketing of unhealthy food and drink, such as bans on advertising and sale of unhealthy foods in and around schools, clear front-of-pack nutrition labelling, and taxes on sugar-sweetened beverages amongst others.

To further promote the need for healthier food environments, UNICEF is supporting the “Fix My Food” campaign led by young people to raise awareness of the need to create healthier food environments in China, Cambodia, Federated States of Micronesia, Fiji, Mongolia, Solomon Islands, Timor-Leste, and Vietnam.

Young people, together with celebrities and influencers from these eight countries were part of a two-day co-creation “Fix My Food” workshop in Bangkok – brainstorming ideas and identifying potential partners to help roll out the campaign in their respective countries.

Chef Nak, Ms. Ros Rotanak, Cambodia’s first female celebrity chef, and Miss World Vietnam 2019, Ms. Luong Thuy Linh were also part of the co-creation workshop and launch event.

Sharing her thoughts, Chef Nak said “I strongly believe in preserving, developing and promoting traditional Khmer cuisine as one of the world’s most remarkable culinary traditions. Food is much more than just what we eat. It is an essential part of our culture, our families and our communities. I am happy to support these young champions, to preserve, protect and ensure that our food environment is equally accessible to and benefits all.”

“I strongly believe in healthy eating and healthy lifestyles and have joined this campaign with the hope that together we will be able to change our failing food system. We need to ensure that people, especially children and young people, have the opportunity and the right to make healthy food choices, wherever they are, at home, in and around schools, and in their communities,” stated Ms. Linh, Miss World Vietnam 2019.

With the young people leading the Fix My Food” campaign and support from celebrities and influencers, UNICEF hopes to create awareness on the impact of the changing food environment in the lives of girls and boys and the urgent need for governments, the private sector and civil society to take collective action to build a healthier food environment across the region.

Speaking at the event, 24-year-old Mr. Ricardo Valente, from Timor-Leste said “This campaign is unique, it is designed and led by us and will be implemented by each of us, back in our own countries. We are excited about being part of this movement to make the food environment healthier and more accessible for every child and every young person in East Asia and the Pacific.”

As part of UNICEF’s work to mobilize and empower young people to take action, this initiative will be implemented in the eight participating countries and will be supported by UNICEF country offices and partners.

For more details and latest updates on the ‘Fix My Food’ initiative, please visit: Fix My Food UNICEF East Asia and Pacific

Hashtag: #UNICEFEAP #FixMyFood

The issuer is solely responsible for the content of this announcement.

About UNICEF

UNICEF works in some of the world’s toughest places, to reach the world’s most disadvantaged children. Across more than 190 countries and territories, we work for every child, everywhere, to build a better world for everyone. For more information about UNICEF East Asia & Pacific and its work for children, visit

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Swiss Food Conglomerate Nestle Halts Operations In Myanmar

Swiss Food Conglomerate Nestle Halts Operations In Myanmar
Nestle's factory at an industrial park in Yangon, Myanmar. ( Photo : Nikkei )

The Swiss food company Nestle has decided to halt all production in Myanmar’s commercial capital, Yangon, a spokesperson from the company said.