Language

Key Operation Data
Selected Unaudited Key Performance Indicators
Financial Data
** Selected Unaudited Key Pro-forma Combined Operational Data Of CMHK and its subsidiaries or the "Group" As at 30 Sep 2002 /
For the period from
1 Jan to 30 Sep 2002
As at 30 Jun 2002 /
For the period from
1 Jan to 30 Jun 2002
Number of Subscribers 111.45 million 105.44 million
* Total Revenue (RMB) 107.107 billion
(equivalent to approx.
HK$101.044 billion)
70.368 billion
(equivalent to approx.
HK$66.385 billion)
*Average Revenue per User per Month (ARPU) (RMB/User/Month) 118
(equivalent to approx.
HK$111)
121
(equivalent to approx.
HK$114)
* Total Usage (Minutes) 189.394 billion 121.488 billion
*Average Usage per User per Month (MOU) (Minutes/User/Month) 208 209
* Average Revenue per Minute (RMB) 0.566 0.579
Number of Users of Mobile Data Services 52.49 million 51.87 million
* Short Message Services Usage Volume (Messages) 27.110 billion 16.687 billion
Network Capacity (Users) 136.74 million 128.11 million
Network Utilisation Rate 81.5% 82.3%
Number of Employees 59,307 58,913
Labour Productivity (Subscribers/Employee) 1,879 1,790
EBITDA (RMB) 63.193 billion 41.468 billion
EBITDA margin 59.0% 58.9%
Net Profit (RMB) 25.165 billion 16.590 billion

Notes:
* For the relevant reporting period.

** The pro-forma combined operational data have been prepared as if the current structure of the Group (including 21 mobile communications operating subsidiaries) were in existence since 1 January 2002.

The business of the Group continued to grow steadily during the first three quarters of 2002. as at 30 September 2002, the Group had 111.4 million subscribers, representing a net increase of 20.88 million subscribers in 9 months from the pro-forma combined subscriber base as at 31 December 2001. The Group's perseverance in pursuing business strategies with an objective of corporate value maximisation and service quality oriented competitive strategies has enhanced the favourable development of its business and its financial performance.

In response to increasing competition and to enhance the loyalty of mid-to high-end subscribers, the Group augmented its promotion of certain loyalty measures to some of these subscribers in the third quarter of 2002. However, the Group has always been cautious about promotion plans involving handset subsidies and similar practices. As a result, the Group reported no material communications revenues for the relevant period gained at the costs of handset subsidies and similar promotional practices. Moreover, as most new subscribers are low usage subscribers, the Group's pro-forma combined ARPU and pro-forma combined average revenue per minute during the first three quarters of this year continued to decline. Nonetheless, the rate of such decline has moderated noticeably as compared to the previous year. The pro-forma combined ARPU for the first three quarters of 2002 was RMB118, representing a decrease of RMB3 from RMB121 for the first half of 2002. As the total number of subscribers and total usage grew rapidly, despite the decline in the pro-forma combined ARPU and the pro-forma combined average revenue per minute, total revenue continued to grow favourably.

The Group's short message services usage volume continued to grow rapidly during the first three quarters, indicating the enormous development potential for the Group's mobile data services.

With robust business growth, effective cost controls and the further realisation of the benefits of economies of scale, the Group realised sustained favourable growth in its pro-forma combined EBITDA and net profit during the first three quarters. EBITDA margin was sustained at a high 59%.

The Group has the world's largest mobile subscriber base and the world's largest unified contiguous all-digital network. The Group will continue to leverage these strengths to provide customised services and high quality products to subscribers, to achieve high operating efficiency, and to ensure the full realisation of the benefits of economies of scale and synergies as well as competitive advantages.

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