Media OutReach
China Tower Continues to Deepen “One Core and Two Wings” Development Strategy
Steadily Enhancing Shareholder Returns
HONG KONG SAR – Media OutReach Neswire – 17 March 2025 – 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 2024.
Performance Highlights
| RMB Million | 2024 | 2023 | Change |
| Operating revenue | 97,772 | 94,009 | 4.0% |
| EBITDA | 66,559 | 63,551 | 4.7% |
| Profit attributable to owners of the Company | 10,729 | 9,750 | 10.0% |
| Basic earnings per share (RMB yuan) | 0.6138 | 0.5578 (Restated) | 10.0% |
| Full-year dividend per share (RMB yuan) | 0.41696 | 0.37390 (Restated) | 11.5% |
| Key operating data | |||
| Number of tower sites (thousand) | 2,094 | 2,046 | 2.3% |
| Number of tower tenants (thousand) | 3,791 | 3,658 | 3.6% |
| Tenancy ratio (tenants / tower site) | 1.81 | 1.79 | 1.1% |
In 2024, the Company’s operating revenue maintained steady growth, reaching RMB97,772 million, an increase of 4.0% year-on-year. EBITDA[1] reached RMB66,559 million, an increase of 4.7% year-on-year, with an EBITDA margin[2] of 68.1%. Profit attributable to the owners of the Company reached RMB10,729 million, an increase of 10.0% year-on-year, with a net profit margin of 11.0%, demonstrating a continuous improvement in profitability.
Net cash generated from operating activities amounted to RMB49,468 million, an increase of RMB16,628 million year-on-year. Capital expenditures stood at RMB31,941 million, with free cash flow[3] reaching RMB17,527 million, up by RMB16,402 million year-on-year. As at 31 December 2024, our total assets amounted to RMB332,834 million, with interest-bearing liabilities of RMB92,542 million and a gearing ratio[4] of 31.0%, representing a decrease of 0.4 percentage point from the end of 2023. Our financial position remains healthy and stable.
The Company attaches great importance to shareholder returns. After considering our profitability, cash flow and future development needs, the board of directors of the Company has recommended a final dividend of RMB0.30796 per share (pre-tax)[5] for the year ended 31 December 2024. Together with the interim dividend distributed, the total full-year dividend amounted to RMB0.41696 per share (pre-tax) 5, representing an increase of 11.5% compared to 2023 and equivalent to a payout ratio of 76% of our annual distributable net profit.
Solid foundation enabled stable growth in TSP Business
The Company fully delivered the its role as part of a nationwide consortium of telecommunication infrastructure developers and as the leading force in new 5G infrastructure construction. We further overcame challenges in the Dual-Gigabit network joint-entry implementation, as well as in special projects such as upgrading signal strength and extending broadband coverage to all border areas. We were able to capture opportunities presented by the continuous expansion of 5G network penetration and coverage in China. By working continuously to improve resource coordination and sharing, and enhancing our professional operations, we were able to fully satisfy customer network construction needs and maintain stable growth in the TSP business. In 2024, our TSP business recorded a revenue of RMB84,119 million, an increase of 2.4% year-on-year.
Tower business. We focused on high-traffic and high-value scenarios that are of keen interest to our customers, as well as other key scenarios such as high-speed railways, highways, borders and rural areas. We conducted targeted and purposive scenario-based coverage analysis and site planning, strengthened efforts to tackle difficult sites, and supported customers in building 5G premium networks in an intensive and effective manner. We developed and deployed a 3D indoor and outdoor simulation support system to visualize the coverage of planned sites and construction solutions, helping TSPs accurately implement their network coverages. By adhering to a customer-oriented philosophy, we constantly optimized our business processes, standardized business management, and improved the efficiency of order acquisition and delivery, billing and payment collection, enhancing service capabilities and customer satisfaction. In 2024, our revenue from the Tower business amounted to RMB75,689 million, an increase of 0.9% from the previous year. As at 31 December 2024, the Company managed a total of 2.094 million tower sites, an increase of 48,000 year-on-year. We have gained 120,000 new TSP tenants since the end of 2023, bringing the total number of TSP tenants to 3.544 million. Our TSP tenancy ratio increased from 1.68 at the end of 2023 to 1.72, further improving the level of co-location.
DAS business. We continued to strengthen our coordination and sharing capabilities for key scenarios such as large transportation hubs, landmark buildings, subways, large venues, Grade 3A hospitals and tertiary institutions. We collaborated with customers to carry out 5G upgrades on high-speed railways and unleashed more demand for high-value scenarios. Leveraging our advantages of coordinated site entry and construction, and our co-building and co-sharing policies, we actively implemented special projects for covering elevators and underground parking lots and expanded the deployment of shared low-power repeaters to help TSPs quickly and efficiently improve network coverage to elevate people’s livelihoods. We continued to enhance product and solution design capabilities and innovation in DAS shared products, which enabled us to provide customers with differentiated active and passive DAS sharing solutions, meeting the demand for upgrading of existing DAS to 5G network. In 2024, our revenue from the DAS business reached RMB8,430 million, an increase of 18.1% year-on-year. As at 31 December 2024, we had covered buildings with a cumulative area of 12.68 billion square meters, up by 24.9% year-on-year, while high-speed railway tunnels and subway coverage reached a cumulative length of 29,315 kilometers, up by 21.8% year-on-year.
Forged strengths to achieve healthy growth of Two Wings business
During the year, in view of the opportunities brought about by the development of the digital economy and the “Dual Carbon” goals, we worked continuously to strengthen product innovation, optimized business planning, further improved our core competencies, and promoted the healthy development of our Two Wings business. In 2024, the revenue of the Two Wings business reached RMB13,388 million and accounted for 13.7% of our overall operating revenue, an increase of 1.5 percentage points over the same period last year.
Smart Tower business. We fully leveraged our core capabilities and advantages in spatial digital intelligence governance to serve the national development strategies of “Digital China” and “Beautiful China”, continuously refining our Smart Tower business. We expanded our Smart Tower business across vertical sectors to consolidate our leading position. This was achieved by deepening strategic cooperation with key customers, creating premium projects across various industry segments. As a result, we secured leadership in incremental domestic market share in a number of key scenarios such as disaster alert and farmland protection. We enhanced research and innovation to foster core capabilities. In these areas, we fortified the distributed deployment on our platform and strengthened algorithm development for mid-to-high point scenarios, building a strong platform foundation, focusing on key service scenarios. We identified additional customer demands to promote service upgrades. This saw us enhancing our localized technical support teams and improving our “companion” service capabilities to meet customers’ iterative development needs in a timely manner and achieved high-quality project delivery. Relying on the large-scale operation and maintenance system, we built a professional network management platform, equipped with the ability to accurately diagnose incidents occurring in the terminal devices, dispatch tasks in real time and handle incidents in a timely manner. We deepened service integration and strengthened industry collaboration. By expanding our partner base, signing strategic cooperation agreements with tertiary institutions and leading enterprises, we achieved coordinated development. In 2024, the Smart Tower business generated revenue of RMB8,911 million, up by 22.4% year-on-year, among which, revenue from our Tower Monitoring business reached RMB5,539 million, accounting for 62.2% of our revenue from the Smart Tower business.
Energy business. We focused on key business segments such as battery exchange and power backup, refining operations and solidifying product, service and platform competitiveness in order to turn Energy business into a specialized business stream. For the battery exchange business, we continued to engage users more effectively in the delivery and courier markets, enhancing service capabilities and achieving stable user growth. As at 31 December 2024, the number of battery exchange users reached 1.304 million, an addition of 159,000 since the end of 2023, further maintaining our leading position in the market for battery exchange for low-speed electric vehicles. We leveraged the opportunities brought about by national policies on safe charging, giving full play to our own capabilities and advantages in laying out economic and efficient community charging infrastructure and providing safe and convenient battery charging services for low-speed electric vehicles to the community. These efforts helped expand our customer base of our battery exchange business. For the power backup business, we focused on pivotal industries such as telecommunications and finance, along with key scenarios, to expand our premium customer base. We used our reliable power backup service as an entry point to explore the demand for monitoring, energy consumption management and maintenance services, providing a comprehensive “power backup +” industry solution and forging the “energy butler” brand. In 2024, our Energy business achieved revenue of RMB4,477 million, a year-on-year increase of 6.2%, of which the revenue from battery exchange business accounted for RMB2,500 million, with its contribution to the Energy business reaching 55.8%.
Mr. Zhang Zhiyong, Chairman of China Tower said, “Looking ahead, under the guidance of our established strategy, we will seek to further deepen our ‘One Core and Two Wings’ strategy, enhance our core competitiveness to ensure a robust foundation for our solid and high-quality development, and achieve increased growth in our enterprise value, while creating greater returns for our shareholders, customers and society.”
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 December 2024, the Company’s total assets amounted to RMB332,834 million. China Tower operated and managed 2.094 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.791 million tenants with the tenancy ratio of 1.81.
In Singapore today, employability is no longer defined by academic achievement alone. Employers are looking for graduates who can apply knowledge in real workplace settings, work across cultures, adapt to new technologies and continue learning as industries evolve. This is especially relevant as Singapore’s labour market continues to move towards growth areas such as digitalisation, technology, sustainability, healthcare, business transformation and professional services.
Against this backdrop, Singapore Institute of Management Global Education, or SIM GE, continues to strengthen its role as a private education institution that prepares learners for the demands of today’s workplace and the opportunities of tomorrow’s economy.
Employability begins with industry relevance
For prospective students, one of the biggest considerations when choosing a higher education pathway is whether their studies will remain relevant by the time they graduate. This is particularly important in a job market where roles are changing quickly and where employers increasingly value both technical capability and transferable workplace skills.
SIM GE addresses this by offering a broad range of academic programmes through partnerships with reputable universities from Australia, Europe, the United Kingdom and the United States. These programmes span disciplines such as business, computing, social sciences, aviation, nursing and other applied fields, giving students access to international curricula while studying in Singapore.
This global education model is particularly relevant for Singapore’s open economy. Graduates entering the workforce are expected to understand local business realities while being able to operate in regional and international contexts. By learning from local and international faculty, and studying alongside peers from diverse backgrounds, SIM students are exposed to global perspectives that can support their workplace readiness.
Career support that connects learning to work
Employability also depends on how students translate classroom learning into career action. At SIM GE, career preparation is supported through Career Connect, which provides career workshops, career guidance, résumé reviews, mock interviews, profiling support, internship and job opportunities, as well as career events such as company visits, networking sessions, career talks and fairs.
This structured support is important because many students do not only need a qualification, they also need guidance in understanding industries, articulating their strengths, preparing for interviews and building professional networks. These practical areas can influence how confidently graduates enter the job market.
Through CareerSense, SIM students can also access an integrated online platform to browse and apply for internships, jobs and career events. This helps students take a more proactive approach to career planning while creating a clearer bridge between academic life and employment opportunities.
Real world exposure through internships and traineeships
One of the strongest contributors to graduate employability is exposure to work before graduation. Internships allow students to understand workplace expectations, test their skills in real business scenarios and build confidence before entering full time employment. SIM GE supports this through internships with a range of employers, from SMEs to multinational corporations. Its Work Integrated Learning for Life initiatives and internship related awards further encourage students to gain practical experience and develop holistically across cognitive, interpersonal and applied skills.
For fresh graduates, SIM’s Graduate Traineeship Programme provides structured traineeship opportunities across industries, typically lasting three to six months. The programme is designed to help graduates gain hands on experience, build workplace confidence and develop industry relevant capabilities as they transition into full time employment. This emphasis on work exposure responds directly to a key concern among prospective students, which is whether they will be ready for employment after graduation. By combining academic learning with career guidance, internships and traineeships, SIM GE helps students build not only credentials but also workplace familiarity.
The value of practical exposure is reflected in the experience of Keisha Shevila, a SIM-University of Wollongong Computer Science graduate who secured a Software Engineer role before completing her degree. In sharing her journey, she credited Career Connect with helping her better understand the job search process and preparing her “more confidently for entering the workforce”.
Building future ready graduates through skills and adaptability
The future of work is increasingly shaped by AI, automation, sustainability and cross functional collaboration. In this environment, students need more than role specific knowledge. They need adaptability, communication skills, critical thinking, creativity, cultural awareness and the confidence to keep learning.
SIM GE’s broader student experience supports this development. Beyond academic programmes, students can participate in more than 70 student clubs and co-curricular activities that build leadership, communication and teamwork skills. The EDGE Award, developed in partnership with employers, recognises students’ cumulative achievements across their learning journey and encourages a more holistic approach to personal and professional growth.
SIM GE’s diverse learning environment also plays an important role. With students from more than 50 nationalities, the campus experience provides opportunities for cultural exchange, collaboration and global awareness. These are qualities that are increasingly valuable in multinational and regional workplaces.
Aligning with Singapore’s skills first economy
Singapore’s workforce strategy continues to place strong emphasis on skills, lifelong learning and adaptability. National reports and government agencies have highlighted rising demand in areas linked to the digital, green and care economies, as well as the importance of AI literacy and transferable skills. This makes higher education choices more consequential. Prospective students are not simply choosing a programme. They are choosing a platform for long term career resilience.
SIM GE’s approach aligns with this direction by combining academic pathways, global university partnerships, employability support, industry exposure and continuous skills development. Its graduate outcomes also reflect this emphasis, with SIM reporting a secured employment rate of 81 per cent based on the Private Education Institution Graduate Employment Survey 2024/2025.
Preparing graduates for Singapore today and tomorrow
Employability in Singapore today is shaped by industry relevance, practical exposure and future ready skills. SIM GE’s proposition sits at the intersection of these priorities. For students, this means access to internationally recognised academic pathways, career services, internships, traineeships, employer engagement, student development opportunities and a diverse campus environment. For employers, it means a pool of graduates who have been encouraged to build both knowledge and workplace ready capabilities.
As prospective students consider their higher learning options, the question is no longer only what they can study. It is also how that education will prepare them for the future of work. For SIM GE graduates, the answer lies in an education experience designed not only to support academic achievement but also to develop employable, adaptable and globally minded individuals ready to contribute to Singapore’s evolving economy.
References
- The SIM Advantage – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/sim-advantage
- SIM Career Services – https://www.sim.edu.sg/degrees-diplomas/life-at-sim/career-services
- Achieving the three “Beyond” at individual, industry and institutional levels: Minister Chan Chun Sing at the inaugural SIM Future of Work Series – https://www.sim.edu.sg/news-events/achieving-the-three-beyonds-at-individual-industry-and-institutional-levels
- How One International Student Graduated Career-Ready: Keisha Shevila’s Journey at SIM – https://www.sim.edu.sg/articles-inspirations/how-one-international-student-graduated-career-ready-keisha-shevila-journey-at-sim
- Job Vacancies 2025: Labour demand gradually shifting to growth areas as firms adjust hiring plans – https://www.mom.gov.sg/newsroom/press-releases/2026/0320-job-vacancies-report-2025
- Opening Address by Ms Gan Siow Huang, Minister of State, Ministry of Education for the Launch of the Skills Demand for the Future Economy Report 2025, Marina Bay Sands Expo and Convention Centre – https://www.moe.gov.sg/news/speeches/20250122-opening-address-by-ms-gan-siow-huang-minister-of-state-ministry-of-education-for-the-launch-of-the-skills-demand-for-the-future-economy-report-2025-marina-bay-sands-expo-and-convention-centre
- SDFE 2025 report – https://jobsandskills.skillsfuture.gov.sg/sdfe-2025
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 17,000 full- and part-time students and adult learners, of which approximately 41% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
The launch ceremony was held in Almaty with the attendance of Mr. Nguyen Thanh Le, Appointed Ambassador of Viet Nam to Kazakhstan; Mr. Berikbol Shatabayevich Mandibayev, Head of the Department of Entrepreneurship and Investment of Almaty; along with representatives of the Government of Kazakhstan, the Embassy of Vietnam in Kazakhstan, and strategic partners, businesses and organizations across the transportation, energy, technology, finance, infrastructure and service sectors.
In its initial phase, Green SM will operate in Almaty with a fleet of VinFast VF 6 Eco vehicles, an all-electric SUV designed to meet the needs of everyday urban travel. Combining quiet operation, a comfortable cabin, and modern safety features, the VinFast VF 6 Eco is expected to provide residents and visitors in Almaty with a more convenient, reliable, and enjoyable mobility experience.
Alongside its electric vehicle fleet, Green SM continues to invest in the development of its Green Drivers through comprehensive training programs covering operations, safety, and customer service. This forms part of the company’s ongoing efforts to maintain consistent service standards and deliver safe and dependable transportation experiences for users in Kazakhstan.
To celebrate the launch, Green SM is offering a promotion of 26%, up to KZT 2,626 for customers booking rides through the Green SM application. Users in Kazakhstan can now access Green SM services via the Green SM app, available on both the App Store and Google Play.
In parallel with the service launch, Green SM has established partnerships with five strategic partners across the transportation, tourism, technology, and service sectors through the Green Alliance Frontier initiative. The initiative serves as a platform connecting organizations that share a commitment to sustainable development and creating positive impacts for local communities across multiple markets.
Mr. Nguyen Quoc Tuan, Global Chief Executive Officer of GSM, said: “Kazakhstan is a market with strong potential, dynamic growth, and rising expectations for modern services. We come to Kazakhstan with respect for the market, a long-term commitment to investment, and a desire to work alongside local partners in developing high-quality mobility solutions that meet the everyday needs of the community. At Green SM, we believe sustainable growth must be built on trust and meaningful value for society. That is the foundation we hope to build together with our customers, partners, and the people of Kazakhstan in the years ahead.”
Kazakhstan is experiencing the rapid development of modern urban centers alongside rising expectations for quality of life and better services. Green SM’s presence in Kazakhstan reflects the company’s long-term vision of bringing all-electric mobility solutions closer to users in more regions around the world. Green SM enters Kazakhstan with the aspiration of contributing to better mobility experiences for local communities: quieter journeys along busy city streets, more comfortable travel in everyday life, and greater reliability through service standards that are consistently maintained across every trip.
Founded in Vietnam in 2023, Green SM currently operates a green mobility ecosystem across Vietnam, Laos, Indonesia, the Philippines, India, and Kazakhstan. With an all-electric fleet, a technology-driven platform, and consistently applied operational standards, Green SM is steadily expanding its green mobility ecosystem across international markets, with the goal of providing modern, safe, and sustainable transportation solutions for communities around the world.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
Media OutReach
Citi Commercial Bank Drives Dialogue on the Future of Business at Annual Executive Summit in Hong Kong
Over 120 business leaders gathered at the summit under the theme “Empowering Growth Through Capital Convergence and Digital Innovation”
HONG KONG SAR – Media OutReach Newswire – 23 June 2026 – The Citi Commercial Bank Hong Kong Executive Summit 2026 concluded on June 16 under the theme “Empowering Growth Through Capital Convergence and Digital Innovation”, bringing together over 120 company founders and C-suite leaders to examine the future of business amid a rapidly evolving global landscape.
The annual flagship forum featured a series of discussions centered on how companies can strategically leverage Hong Kong’s unique strengths to achieve sustainable growth and international expansion.
Gunjan Kalra, Head of Citi Commercial Bank for Japan, Asia North and Australia, and Asia South, said, “Companies today are going global at an unprecedented pace. We are also witnessing the rising global prominence of Asian companies, which are making rapid advances and emerging as industry leaders in areas including AI, technology and innovation, healthcare, advanced manufacturing and clean energy.”
Citi Commercial Bank provides global banking solutions to mid-sized companies that are looking to grow rapidly and expand internationally. “Citi is uniquely positioned to support their growth ambitions, offering integrated treasury and capital solutions in over 90 countries through our integrated global platform, as well as advisory and financing capabilities from our investment banking franchise,” she continued.
According to InvestHK, more than 310 companies had established or expanded operations in Hong Kong as of May 2026, with mainland firms accounting for over half of the total.
Joy Cheng, Head of Citi Commercial Bank for Hong Kong,said, “Hong Kong serves a critical dual role as both the launchpad for Chinese companies pursuing international expansion and a strategic gateway for multinationals deepening their presence in mainland China and the region. We are committed to being the banking partner of choice for fast-growing companies as they scale and grow across borders. Our value proposition lies in our ability to simplify complexity and connect visionary companies to opportunities worldwide through our unparalleled global network.”
Key themes explored at the Hong Kong Executive Summit 2026 included:
- Investing for future growth
- Leveraging Hong Kong’ssuper-connector role for outbound success
- Bridging Hong Kong’s AI and tech landscape with global market opportunities
The summit featured a distinguished line-up of speakers, including:
- Clara Chan, Chief Executive Officer, Hong Kong Investment Corporation Limited
- Evan Chen, Managing Director, FountainVest
- Shang Chuang, Chief Financial Officer, Klook
- CY Guan, Founder & Chief Executive Officer, MOZA Racing
- Jerry Hu,Managing Director, Full Vision Capital
- Wesley Ng, CEO and Co-Founder, CASETiFY
- Jonathan Song, Chief Commercial Officer, Plaza Premium Group
- Andy Wong, Head of Innovation & Technology and Life & Health Sciences, Invest Hong Kong
- Dennis Wong, Co-Founder and Chief Executive Officer, Master Concept
- Queenie Wong, Managing Director, EQT Asia Growth
- Danny Yeung, CEO, Chairman and Co-Founder, Prenetics
- Ethan Yuan,Vice President, International Business, Regional General Manager, APAC North, Alibaba Cloud Intelligence Group
Citi Commercial Bank offers a comprehensive suite of products and solutions, including trade and working capital, treasury and liquidity management, global markets capabilities, capital markets solutions, and advisory services. Citi Commercial Bank serves clients in 12 markets in Asia including Australia, mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Hashtag: #Citi
The issuer is solely responsible for the content of this announcement.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found atwww.citigroup.com | X: 
@Citi | LinkedIn: 
www.linkedin.com/company/citi | YouTube: 
www.youtube.com/citi | Facebook: 
www.facebook.com/citi
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