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China Tower Owed CNY 150 Billion

Updated:2016/8/12 17:12

China Mobile released the earnings in 1H16 on August 11.

In the first half of the year, China Tower (Tower Company) owed CNY 150 billion with a negative profit margin of 4.6%, Liu Aili, deputy general manager of China Mobile Group and chairman of China Tower said at the results briefing. He expected China Tower to be listed as soon as possible which can bring it profitability, and the company will promote the plan for listing.

Liu pointed out that the fee discounts are raised while the base station sharing rate is between 25% and 30%, according to the latest lease agreement China Mobile signed with Tower Company. However, it is possible for the rent to further decline for the sharing rate of newly-built base stations is higher than the average level.

The rent for towers is CNY 15.1 billion in 1H16 and that of the whole year is estimated to reach CNY 32 billion with towers rent hitting 1.08 million by the end of 2016, Xue Taohai, deputy general manager and financial director of China Mobile said.

 Source:C114
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