Rich way information news, after the Hong Kong stock market on August 12, China Unicom issued the 2020 second quarter results announcement. China Unicom's revenue in the first half of 2020 was 138.3 billion yuan, up 4.0% from a year earlier and 3.1% higher than analysts' estimates, while net profit was 7.6 billion yuan, up 10.1% from a year earlier, according to the financial report.

China Unicom's business is divided into two parts: service income and sales of communications products, and service income contributes about 90% of the total revenue. The service revenue section mainly includes two parts: mobile services and fixed network services, of which mobile services account for 60%. Both service revenue and revenue from the sale of communications products are up year-on-year in the quarter.

Specific to the products, all products have rebounded. In the first half of the year, Internet revenue and services in China Unicom's industry increased by 36% over the same period last year to 22.7 billion yuan, and the overall proportion of services increased to 16%. Of this total, the revenue from ICT business was 7.5 billion yuan, up 39% from the same period last year. The revenue from IDC and cloud computing business was 12.1 billion yuan, an increase of 29% over the same period last year. Fixed service income was 60.6 billion yuan, an increase of 14% over the same period last year.

In terms of user data, China Unicom's total number of users rebounded in the second quarter. In the first half of the year, the total traffic of mobile Internet access increased by 23%, and the average monthly traffic of mobile phone users reached 9.4GB.

In the financial report, China Unicom also announced the latest developments in 5G.In the first half of 2020, about 150000 new 5G base stations were built and shared with China Telecom Corporation. Up to now, the company has accumulated about 210000 available 5G base stations, of which the company has built more than 100000 stations.

Looking to the future, China Unicom will focus on entrepreneurial cooperation, give full play to the advantages of differentiation, and promote the improvement of channel, network, IT support and resource allocation ability.

Guoxin Securities pointed out that the follow-up improvement in the number of Unicom 5G users and the corresponding ARPU value is expected to bring strong performance flexibility. It is estimated that the net profit of China Unicom's A-share shareholders from 2020 to 2022 is 6688 / 9.5 billion yuan, corresponding to 24-18-17 times PE, maintaining the "buy" rating.

As of press time, the China Union reported HK $5.49, up 20.13%.