Gelonghui, April 16 | According to the Shanxi Securities Research Report, China Unicom (600050.SH) achieved net profit of 8.17 billion yuan in 23 years, +12.0% year-on-year, and ROE of 5.1%, a record high in the past five years. Regarding the 2024 business performance outlook, the company strives to achieve steady revenue growth and double-digit growth in total profit. Capital expenditure will be controlled at about 65 billion yuan, down 12% from the forecast for 2023, and continue to promote joint construction and sharing with Telecom to increase 5G coverage capabilities. At the same time, the company will seize the rapid development opportunities of the big model industry, and the computing network business will adhere to a moderately advanced investment layout. Against the backdrop of shrinking capital expenditure and steady elite performance, it is believed that the company will continue to increase its dividend ratio in the future. In 2023, the company's dividend per share will be 0.132 yuan, and the dividend rate will be 30.5%. Compared with mobile and telecom, there is still room for improvement. The company's performance growth is expected to remain at a high level in the industry, and the ROE and dividend ratio are expected to continue to increase in the future, maintaining a “buy-A” rating.