Operating

China Tower Urges to Go Public

Updated:2017/8/11 17:19

China Tower (the Tower Company) approached its third anniversary in July. Living up to expectations, the company has created a sharing & competing tower mode widely recognized during the three-year period.

Liu Aili, chairman of China Tower, stated that its tower sharing rate has come to 73 percent from 14.3 percent, that of China Mobile to 48.6 percent from 3.6 percent, that of China Telecom to 90.1 percent from 36.6 percent, and that of China Unicom to 92.4 percent from 20.9 percent.

In addition, the Tower Company has raised the value of assets. The stock assets market trading has generated a 19.5 percent premium, bringing asset value-added income of CNY41.8 billion.

China Tower aims at being listed to further the enlargement of the state capital, which will help it with the excessive debt and financial cost problems which can weaken the intensity of operating cost reduction for the three major operators and directly damage their interests, Mr. Liu noted, thus it is contrary to the original intention of reform if the company can't make itself listed.

The Tower Company initially achieved breakeven last year but maintains a weak profitability today with the fixed asset net value equivalent to 51 percent of China Unicom, 60 percent of China Telecom and 37 percent of China Mobile.

It had an income profit rate of 0.2 percent, a return on assets of 0.03 percent last year while those are 3.7 percent and 0.8 percent respectively for the first half of this year.

 Source:C114
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