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Key Operation Data
Selected Unaudited Key Performance Indicators
Financial Data
  For the period from
1 Jan to 31 Mar 2005
For the period from
1 Jan to 31 Mar 2004
Increase
Operating Revenue (RMB) 54.859 billion
(equivalent to approx.
HK$51.754 billion)
42.143 billion
(equivalent to approx.
HK$39.758 billion)
30.2%
EBITDA (RMB) 29.624 billion
(equivalent to approx.
HK$27.947 billion)
24.286 billion
(equivalent to approx.
HK$22.911 billion)
22.0%
EBITDA margin 54.0% 57.6%  
Net Profit (RMB) 11.246 billion
(equivalent to approx.
HK$10.609 billion)
9.389 billion
(equivalent to approx.
HK$8.858 billion)
19.8%
Net Profit margin 20.5% 22.3%  

Notes:
1. The above unaudited financial data is prepared in accordance with the generally accepted accounting principles in Hong Kong. The financial data of the Group for the first quarter of 2005 included the results of the Company and its subsidiaries, including the 31 provincial mobile companies, while the financial data for the first quarter of 2004 included the results of the Company and its original subsidiaries, including the 21 provincial mobile companies.

2. The Hong Kong Institute of Certified Public Accountants has issued a number of new and revised Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards ("New HKFRSs"), which are effective for accounting periods beginning on or after 1 Jan 2005. The above unaudited financial data has recognised the impact of New HKFRSs.

 

Operating Data
  As at 31 Mar 2005 /
For the period from
1 Jan to 31 Mar 2005
As at 31 Dec 2004 /
For the period from
1 Oct to 31 Dec 2004
As at 30 Sep 2004 /
For the period from
1 Jul to 30 Sep 2004
Number of Subscribers 213.87 million 204.29 million 194.38 million
* Net increase in subscribers 9.58 million 9.91 million 8.91 million
* Average Revenue per User per Month (ARPU)(RMB/User/Month) 89 91 90
* Total Usage (Minutes) 196.48 billion 188.27 billion 170.37 billion
* Average Usage per User per Month (MOU) (Minutes/User/Month) 318 313 297
* Average Revenue per Minute (RMB) 0.279 0.290 0.302
Number of Users of Mobile Data Services 174.00 million 156.83 million 147.09 million
* Short Message Services Usage Volume (Messages) 59.1 billion 62.8 billion 40.0 billion
Network Capacity (Users) 254 million 244 million 226 million
Network Utilisation Rate 84.2% 83.6% 86.0%
Number of Employees 90,771 88,127 85,621
Labour Productivity (Subscribers/Employee) 2,356 2,318 2,270

Notes:
* for the relevant reporting period

By leveraging the advantages of scale that result from the Group being the market leader in Mainland China's mobile telecommunications industry, by ceaselessly pursuing refined management techniques, and benefiting from the contribution from the 10 provincial mobile companies that were acquired on 1 July 2004, the Group achieved favourable financial results for the first quarter of 2005, notwithstanding the competitive market environment. The Group's operating revenue reached RMB54.859 billion, representing an increase of 30.2 per cent. compared to the same period of last year. EBITDA reached RMB29.624 billion, representing an increase of 22.0 per cent. compared to the same period of last year. EBITDA margin was maintained at a high level of 54.0 per cent. Net profit reached RMB11.246 billion, representing an increase of 19.8 per cent. compared to the same period of 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 favourable subscriber growth in a competitive environment during the first quarter of 2005. As at 31 March 2005, the Group's subscribers (including all 31 provincial mobile companies) reached 213.87 million. Owing to the robust subscriber growth, which was primarily comprised of low ARPU customers, the Group's ARPU for the first quarter of 2005 declined moderately. However, during the period, the decline in average revenue per minute of usage has been relatively better controlled. New businesses have sustained rapid and stable growth and the contribution of new businesses to operating revenue has further increased. Operating revenue continued to record favourable growth.

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, aggressively develop mobile data and other new businesses, and strengthen the classification of voice usage volume promotion. The Group will unswervingly pursue business and service innovation, 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 promote orderly and rational competition and strive 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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