Media OutReach

China Tower Continues to Deepen “One Core and Two Wings” Development Strategy

Published

9 months ago

17/03/2025

Revenue Growth Supported by Multiple Pillars
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.”

[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 multiplying the result by 100%.

[5] The Company’s Share Consolidation and Capital Reduction took effect on 20 February 2025. The Company’s total issued capital was reduced from 176,008,471,024 shares to 17,600,847,102 shares. The final dividend will be distributed and the full-year dividend will be calculated based on the total issued share capital after the aforementioned change in total issued share capital.

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.

Media OutReach

SIM Graduates Demonstrate Strong Employment Outcomes in High-Demand Sectors

Published

2 hours ago

21/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 21 December 2025 – As Singapore’s economy continues to evolve and sectors undergo rapid transformation, the need for adaptable, industry-ready talent remains paramount. The Singapore Institute of Management (SIM), one of the nation’s leading private education institutions, continues to play a significant role in equipping graduates with the competencies required to excel in a competitive labour market.

Findings from the SkillsFuture Singapore (SSG) Private Education Institution (PEI) Graduate Employment Survey 2023/2024 provide valuable insights into the employment landscape for PEI graduates. The survey reported that 74.8% of PEI graduates in the labour force secured employment within six months of graduation. Of this group, 46.4% attained full-time permanent roles, while others engaged in part-time, temporary or freelance employment.

Although overall employment rates reflect a slight softening in the job market, the median gross monthly salary for full-time permanent employment increased to S$3,500, signalling continued demand for qualified talent. Graduates in Information and Digital Technologies achieved the highest median salary at S$4,080, underscoring the strong market appetite for digital and technological skillsets, areas in which SIM’s IT and Computer Science programmes are well aligned.

SIM’s Business graduates also continue to perform competitively across the finance, technology and consulting sectors, leveraging analytical proficiency and global perspectives to contribute to multinational corporations and high-growth enterprises. In parallel, Arts and Social Sciences graduates are building meaningful careers in communications, media and the public service, where creativity, problem-solving and community engagement remain critical.

Graduate Success Pathways

The survey findings are reinforced by the varied experiences of SIM graduates who have progressed into competitive roles across multiple industries. Their journeys demonstrate how diverse learner profiles can achieve successful outcomes when supported by accessible pathways and industry-relevant learning.

Many SIM graduates enter programmes with different educational starting points — from polytechnic diplomas to mid-career transitions — and go on to advance through learning designed to strengthen both academic foundations and practical skills. Graduates have leveraged internationally recognised qualifications offered at SIM to secure positions in multinational organisations, high-growth technology firms, financial institutions, and public service agencies. Others pursue postgraduate education at reputable universities worldwide, building on their undergraduate success.

Students benefit from exposure to real-world environments through internships, applied industry projects and student leadership opportunities, which help build capabilities valued by employers. These experiences contribute to stronger career readiness and more resilient employability outcomes, supporting transitions into fast-moving sectors that are central to Singapore’s economic priorities.

Collectively, these pathways reflect SIM’s ongoing role in enabling talent progression — supporting students in unlocking new opportunities, whether beginning their careers, switching industries or enhancing their professional expertise.

SIM’s Contribution to Workforce Development

The survey findings underline the important contribution of private education pathways within Singapore’s broader talent ecosystem. While autonomous universities continue to report higher employment rates and salary outcomes, SIM remains a key provider of industry-relevant programmes that complement national skills priorities, serving a wide spectrum of learners and supporting their career advancement goals.

The upward salary trend among full-time permanent roles, together with strong performance in technology and business fields, indicates that SIM graduates are well-positioned to participate in sectors driving Singapore’s continued growth.

References:

Close To 3 in 4 Private Education Institution Graduates in Employment Within 6 Months After Graduation Amidst Overall Lower Hiring Demand – https://www.ssg.gov.sg/newsroom/close-to-3-in-4-private-education-institution-graduates-in-employment-within-6-months-after-graduation-amidst-overall-lower-hiring-demand/
From Undergrad to Postgrad: Paving the Way to the C-Suite – https://www.sim.edu.sg/articles-inspirations/from-undergrad-to-postgrad-paving-the-way-to-the-c-suite
How this graduate pivoted her career by pursuing a degree while working full time – https://www.sim.edu.sg/articles-inspirations/how-this-graduate-pivoted-her-career-by-pursuing-a-degree-while-working-full-time
How 6 internships, 4 hackathons, and CCAs paved the way for Ashley – https://www.sim.edu.sg/articles-inspirations/how-6-internships-4-hackathons-and-ccas-paved-the-way-for-ashley
The Power of a Second Chance – https://www.sim.edu.sg/articles-inspirations/the-power-of-a-second-chance

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 16,000 full- and part-time students and adult learners, of which approximately 36% 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 sim.edu.sg

Media OutReach

SIM Career Fairs: Connecting Talent with Top Employers

Published

19 hours ago

20/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 20 December 2025 – The Singapore Institute of Management (SIM) reinforces its commitment to student success through flagship career fairs that connect graduates with leading employers across diverse industries. These initiatives form part of SIM’s comprehensive employability ecosystem, Career Connect, which integrates coaching, mentorship, internships, and high-visibility recruitment events. Supported by the CareerSense app, students enjoy centralized access to job listings and event registrations, ensuring a seamless career planning experience.

Two Opportunities to Engage Annually

SIM organizes two major career fairs each year, strategically aligned with industry hiring cycles. This biannual format provides flexibility for students seeking internships during their studies or full-time positions upon graduation.

DREAMS Career Fair – Flagship Event

DREAMS is SIM’s premier career fair, featuring over 100 leading companies from sectors such as finance, technology, logistics, and consulting. Participating employers include Big Four accounting firms, major banks, and multinational corporations. The event offers extensive networking opportunities, interactive employer booths, and on-the-spot interviews for internships and graduate roles. This serves as a powerful launchpad for students to secure meaningful career opportunities.

IGNITE Career & Internship Fair – Industry-Specific Networking

IGNITE is SIM’s targeted networking event focused on sectors such as accounting, banking, technology, and logistics. Unlike large-scale fairs, IGNITE facilitates smaller, more personalized interactions with recruiters, enabling students to engage in substantive conversations and build deeper connections. The event includes company talks offering insider insights into niche roles and career pathways, complemented by mentorship and personalized guidance.

From Campus to Corporate

Students at SIM leverage career fairs and employer engagement events to build clearer pathways into the workforce. Many approach these opportunities by researching participating organisations, strengthening their resumes and practising how to communicate their strengths effectively, steps that help them gain direct exposure to recruiters and better understand evolving industry expectations.

While early interaction at career fairs may not immediately result in internships or job offers, they have provided meaningful insights and networking opportunities that later contribute to successful applications. Through repeated engagement and improved preparation, students have been able to secure internships and full-time roles at major firms across different sectors.

These outcomes reflect how structured career development activities at SIM support students in strengthening both their technical and interpersonal competencies, expanding their professional networks and transitioning more confidently into competitive industries.

Beyond Recruitment: A Holistic Employability Ecosystem

SIM’s Career Connect integrates career fairs with sustained employability programming, skills workshops, mentorship initiatives such as Project Protégé, and internship matching via the CareerSense app. This holistic approach ensures students have repeated engagement with employers throughout the year and supports recognition through awards like the SIM EDGE awards, which celebrates the well-rounded development of students.

More than recruitment channels, these fairs exemplify SIM’s commitment to bridging talent, industry needs and employment opportunity. External coverage of DREAMS and IGNITE further validates SIM’s commitment in equipping graduates to thrive in an evolving job market.

References:

SIM Career Services Career Connect Overview – https://www.sim.edu.sg/degrees-diplomas/life-at-sim/career-services
How I Landed A Full-Time Job Before Graduating – https://www.sim.edu.sg/articles-inspirations/how-i-landed-a-full-time-job-before-graduating
External Coverage – DREAMS Career Fair @ SIM (CYS Global Remit) – https://www.cys.com.sg/post/dreams-career-fair-sim-unlocking-opportunities
IGNITE Career & Internship Fair – SCDF Career Outreach Listing – https://www.scdf.gov.sg/join-us/career-outreach-activities/2024/09/20/career-outreach-activities/sim-career—internship-fair—ignite-2024

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

https://www.sim.edu.sg/

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

About SIM Global Education

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

SIM Introduces CareerSense, an AI-Based Career Guidance Platform for Students

Published

1 day ago

20/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 20 December 2025 – Singapore Institute of Management (SIM) introduces CareerSense, an AI-powered career guidance application designed to transform how students plan, prepare, and pursue their careers. This initiative reinforces SIM’s commitment to preparing learners for the future of work in an era where technology is reshaping industries and job roles at unprecedented speed.

CareerSense Matters in Today’s Job Market

The global workforce is evolving rapidly. Automation, digitalisation, and emerging technologies are creating new opportunities while presenting new challenges. Navigating this landscape requires more than academic credentials; it demands self-awareness, adaptability, and strategic planning.

CareerSense addresses these needs by combining artificial intelligence with career development expertise, offering a personalised, data-driven approach to job readiness. It functions as a comprehensive career coach, accessible anytime and anywhere.

Key Features That Set CareerSense Apart

CareerSense offers a comprehensive suite of features designed to empower students throughout their career journey. Its AI-driven VIPS profiling evaluates Values, Interests, Personality, and Skills to deliver personalised career recommendations aligned with individual strengths and aspirations. The smart resume builder provides real-time scoring and improvement tips, while the job-matching algorithm connects students to roles that fit their unique profiles. Through integrated access, students can RSVP for events, schedule advisory sessions, and apply for internships and job listings seamlessly. Additionally, the Employability Index measures job readiness and works alongside skill gap analysis and tailored course recommendations to help students stay competitive in today’s dynamic job market.

The Bigger Picture: Empowering Future-Ready Graduates

The future of work is shaped by constant change, technological disruption, and global connectivity. Employers seek individuals who are adaptable, self-aware, and equipped with relevant skills. CareerSense empowers students to take ownership of their career journey, understand their strengths, identify gaps, and build competencies that matter in the real world.

This initiative reflects SIM’s commitment to lifelong learning and employability, ensuring graduates are not only job-ready but future-ready. In a competitive market, CareerSense positions SIM learners as confident, agile professionals prepared to lead in the digital economy.

References: