The results are out! Check out the three operators' 2018 first half report cards

In August, the three telecom operators successively released their financial reports for the first half of the year. There were many happy aspects, but there were also many regrets, such as congratulating someone for being admitted to a teachers' college in a certain place more than 900 kilometers away from Tsinghua University.

A look at revenue and profit

China Telecom's operating revenue in the first half of the year reached RMB 193.029 billion, up 4.7% from the same period last year. The profit attributable to the company's shareholders reached RMB 13.570 billion, up 8.1% from the same period last year. The basic net profit per share was RMB 0.168.

China Unicom achieved operating revenue of RMB 149.105 billion in the first half of 2018, a year-on-year increase of 7.9%; net profit of RMB 2.583 billion, a year-on-year increase of 231.8%. Earnings per share was RMB 0.08, of which the main business revenue grew rapidly, with a total of RMB 134.42 billion, a year-on-year increase of 8.3%.

China Mobile's operating revenue in the first half of 2018 was 391.8 billion yuan, a year-on-year increase of 2.9%; communication service revenue was 356.1 billion yuan, a year-on-year increase of 5.5%; EBITDA was 145.9 billion yuan, a year-on-year increase of 3.7%; and net profit was 65.6 billion yuan, a year-on-year increase of 4.7%.

Evaluation: China Mobile grew the slowest, lower than last year. China Unicom worked hard and grew the most. China Telecom grew steadily. Even so, China Unicom's revenue and profit were still too small. How can it survive 5G without money?

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Second, the number of mobile users

China Telecom's mobile users reached 282 million, with a net increase of 31.66 million, more than double the same period last year, a record high, with a net increase of 46.5% of the market share and an overall market share of 18.9%. Among them, 4G users reached 217 million, with a net increase of 35.27 million, and a penetration rate of 77%. The total mobile Internet traffic increased nearly fourfold.

In the first half of 2018, China Unicom's 4G users increased by 28.23 million, reaching a total of 203 million, and the market share of 4G users increased by nearly 3% year-on-year. 4G users accounted for more than 67% of mobile bill users, an increase of 16% year-on-year.

China Mobile added 18.61 million net mobile customers in the first half of the year, and the total number of customers exceeded the 900 million milestone. Among them, there were 680 million 4G customers, a net increase of 27.32 million, and the 4G customer penetration rate reached 74.7%.

Evaluation: China Mobile, like Tencent, was the first to reach its industry ceiling. Future growth can only rely on tapping potential. Of course, retaining users is not a big problem, and other companies can only compete for a limited number of users.

Third, look at the number of wired broadband users

China Telecom's wired broadband users reached 141 million, with a net increase of 7.09 million, also a record high. Among them, 100-megabit broadband users accounted for 56%, an increase of 19 percentage points year-on-year.

China Unicom's fixed-line broadband users increased by 2.38 million, reaching 78.92 million. The penetration rate of video services among fixed-line broadband users exceeded 43%, an increase of about 10 percentage points year-on-year.

In the first half of 2018, China Mobile's home broadband customers increased by 18.8 million, accounting for 57% of the industry's net increase in customers, and the total number of customers reached 128 million. The proportion of high-bandwidth customers continued to increase, with customers with bandwidth of 100Mbps and above accounting for 42.5%, an increase of 20.5 percentage points from the end of last year. Home broadband revenue reached 21 billion yuan, an increase of 49.1% year-on-year, becoming an important source of revenue growth. At the same time, the comprehensive ARPU of home broadband reached 34.8 yuan, an increase of 7.3%.

Evaluation: China Unicom is still picking up sesame seeds while throwing away watermelons. The growth of mobile users depends on Wang Card, and it doesn't want the broadband market. China Mobile's growth in half a year is twice the sum of the other two. If it continues to develop like this, it will become the largest by the end of the year. Having money means being willful, but you also have to spend it in the right place. Knowing how to spend money is more important than having money.

Fourth, look at traffic and ARPU

According to the financial report data, in the first half of 2018, the ARPU value of China Unicom's 4G users was 56.6 yuan, a year-on-year decrease of 15%; the ARPU value of China Mobile's 4G users was 64.4 yuan, a year-on-year decrease of 10%. In the first half of the year, the DOU value of China Unicom's 4G users was 7.6GB, a year-on-year increase of 138%; the DOU value of China Mobile was 3139MB, a year-on-year increase of 122%. In the first half of the year, the DOU of China Mobile's 4G customers exceeded 3GB, a year-on-year increase of 122.2%, and the mobile Internet traffic increased by 153%, and the traffic revenue continued to maintain double-digit growth.

China Unicom's financial report data shows that data traffic revenue in mobile service revenue increased by 23.8%, driving mobile service revenue growth by 9.7%. China Unicom's mobile Internet traffic unit price dropped significantly year-on-year; mobile Internet traffic maintained a strong growth momentum, with the average monthly data traffic of mobile users increasing by 2.2 times year-on-year; mobile Internet revenue increased by 25% year-on-year to 53.4 billion yuan.

China Telecom's data traffic revenue increased by 21.2% year-on-year; China Telecom's 4G users accounted for 77% of mobile users, and total mobile Internet traffic increased nearly fourfold.

In the first half of 2018, China Mobile's personal mobile market revenue reached 268.173 billion yuan, a year-on-year increase of 1.1%, accounting for 75.3% of its revenue, and it is still the market with the largest revenue share.

In addition, in the broadband market, except for China Mobile, whose ARPU value slightly increased from 34.9 yuan in the same period last year to 35 yuan, China Telecom's ARPU value dropped from 52 yuan in the same period last year to 47.2 yuan, and China Unicom's ARPU value dropped from 47 yuan to 46.1 yuan.

Comment: Traffic has increased significantly, and revenue has increased slowly, which is good because wages have not increased accordingly.

5. Look at other future businesses

China Mobile vigorously develops mobile payment business, and the transaction volume of "Hebao" has exceeded RMB 1.36 trillion. The average monthly active users of China Telecom Internet Finance (Yingpay) exceeded 37.7 million, a year-on-year increase of 34%, and the transaction volume of personal accounts increased by nearly 90% year-on-year.

China Telecom's IoT business has accelerated its breakthrough, with revenue growth of nearly 90%, and a net increase of nearly 30 million connections, doubling year-on-year to 74.19 million. China Mobile's IoT business has developed rapidly, with a net increase of 155 million IoT smart connections, reaching 384 million, and IoT revenue increasing by 47.6% year-on-year. In some regions, the number of connections between things has exceeded the number of connections between people. China Unicom's innovative business maintained rapid growth in scale in the first half of the year. The revenue scale of industrial Internet business reached 11.7 billion yuan, a year-on-year increase of 39%, of which cloud computing revenue increased by 39% year-on-year.

Evaluation: China Mobile and China Telecom competed in financial management, but it is clear that China Telecom's WingPay is doing better. The three companies competed in the Internet of Things, and China Telecom also developed well. Why doesn't China Unicom publish the absolute value?

***, there should be an item in China Unicom’s financial report that would be enough to make the employees of the other two operators envious: China Unicom successfully implemented the Unicom A-share company restricted stock incentive plan in the first half of 2018, and granted 794 million Unicom A-share company stocks to 7,752 management backbones and core talents in the first phase. By scientifically setting unlocking targets, it promotes the common improvement of shareholder interests, company development and employee interests.

About the author: Ma Jihua, public account: Northland Knight (Nknight), 2008 Sohu Excellent Blogger; 2009 Mobile Internet Influential Person; 2010 LBS Most Influential Blogger; 2010 Communications Industry Top Ten Bloggers; 2010 Communications Network Top Ten Figures; 2013 Internet Most Influential Self-media; 2015 Tencent Technology Most Influential Self-media; 2015 Communications Circle Self-media God; Sina Finance Opinion Boss, Baidu Baike Top Author, Weibo Signed Self-media.