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Key Operation Data
Selected Unaudited Key Performance Indicators
Financial Data
  For the period from
1 Jan to 30 Sep 2004
For the period from
1 Jan to 30 Sep 2003
Increase
Operating Revenue (RMB) 137.787 billion
(equivalent to approx.
HK$129.988 billion)
116.853 billion
(equivalent to approx.
HK$110.239 billion)
17.9%
EBITDA (RMB) 78.036 billion
(equivalent to approx.
HK$73.619 billion)
68.986 billion
(equivalent to approx.
HK$65.081 billion)
13.1%
EBITDA margin 56.6% 59.0%  
Net Profit (RMB) 28.898 billion
(equivalent to approx.
HK$27.262 billion)
26.196 billion
(equivalent to approx.
HK$24.713 billion)
10.3%
Net Profit margin 21.0% 22.4%  

Note:
1. The above financial data is prepared in accordance with the generally accepted accounting principles in Hong Kong. In addition to the results of the Company and its original subsidiaries, including the 21 provincial mobile companies, the financial data of the Group for the first three quarters of 2004 also included the results of the provincial mobile companies in Inner Mongolia and nine other provinces starting from 1 July 2004, the date of completion of the acquisition, to 30 Sep 2004, while the financial data for the first three quarters of 2003 included the results of the Company and its original subsidiaries, including the 21 provincial mobile companies.

 

Operating Data
  As at 30 Sep 2004 /
For the period from
1 Jan to 30 Sep 2004
As at 30 Jun 2004 /
For the period from
1 Jan to 30 Jun 2004
Number of Subscribers 194.38 million 185.47 million
* Net increase in subscribers 28.27 million 19.36 million
* Average Revenue per User per Month (ARPU)(RMB/User/Month) 92 93
* Total Usage (Minutes) 472.64 billion 302.27 billion
* Average Usage per User per Month (MOU) (Minutes/User/Month) 291 287
* Average Revenue per Minute (RMB) 0.316 0.324
Number of Users of Mobile Data Services 147.09 million 139.73 million
* Short Message Services Usage Volume (Messages) 109.8 billion 69.8 billion
Network Capacity (Users) 226 million 217 million
Network Utilisation Rate 86.0% 85.4%
Number of Employees 85,621 84,061
Labour Productivity (Subscribers/Employee) 2,270 2,206

Notes:
* for the relevant reporting period

2. The above operational data for the first three quarters and the first half of 2004 included the data referable to all 31 provincial mobile companies starting from 1 January 2004.

By leveraging the advantages of scale that result from its being the market leader in Mainland China's mobile telecommunications industry, and by ceaselessly pursuing refined management techniques, the Group achieved favourable financial results for the first three quarters of 2004, notwithstanding the competitive market environment. The Group's operating revenue reached RMB 137.787 billion, representing an increase of 17.9 per cent. compared to the same period of last year. EBITDA reached RMB 78.036 billion, representing an increase of 13.1 per cent. compared to the same period of last year. EBITDA margin was maintained at a relatively high level of 56.6 per cent. Net profit reached RMB 28.898 billion, representing an increase of 10.3 per cent. compared to the same period of last year. Excluding the contribution from the provincial mobile companies operating in Inner Mongolia and other nine provinces that were acquired on 1 July 2004, the operating revenue, EBITDA and net profit of the Company and its original subsidiaries, including the 21 provincial mobile companies, for the first three quarters of 2004 was RMB 131.950 billion, RMB 75.021 billion and RMB 28.278 billion, respectively, representing an increase of 12.9%, 8.7% and 7.9%, respectively, over the comparable data of such companies for the same period last year.

By leveraging its premium and efficient network and significant brand advantages, refining its management methods, adopting effective marketing strategies, delivering personalised services, and focusing on innovation and developing new businesses, the Group continued to make encouraging progress in developing its business and recorded robust subscriber growth in a competitive environment during the first three quarters of 2004. as at 30 September 2004, the Group's subscribers (including all 31 provincial mobile companies) reached 194.38 million. Owing to the robust subscriber growth, which was primarily comprised of low-usage, low ARPU customers, the Group's ARPU for the first three quarters of 2004 continued to decline. However, total usage and operating revenue recorded sustained and favourable growth as a result of the robust growth in subscriber base and the flexible and effective marketing plans that stimulated increased voice usage volume. During the period, the decline in average revenue per minute of usage has been relatively better controlled.

The Group will continue to fully leverage its leading position in Mainland China's mobile telecommunications industry and its economies of scale, further integrate its brands catering to different target customer segments, and aggressively develop mobile data and other new businesses. The Group will unswervingly pursue business and service innovation, focusing on its mobile telecommunications business. The Group will strive to consolidate its leading market position and maintain its sound fundamentals and sustainable development, with a view to generating greater value for its shareholders. Within a competitive environment, the Group will continue to adhere to the principle of "win-win" co-opetition, promoting orderly and rational competition and striving to foster a healthy environment for further industry development. This will better serve the long-term interests of consumers, operating companies and investors.

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