Revenue of China Unicom Reaches 354.9 Billion in 2022

China Unicom recently released its 2022 Performance Report, indicating the achievement of four new highs. According to the report, the revenue in 2022 reached RMB 354.9 billion, up 8.3% year-on-year, with the highest growth rate in the last 9 years. Of this, the service revenue accounted for RMB 319.3 billion, up 7.8% year-on-year.

Industrial Internet business became a highlight as it contributed revenue of RMB 70.5 billion in 2022, up 28.6% year-on-year and accounting for more than 20% of the total revenue for the first time. Revenue from innovative services accounted for a record high.

The EBITDA reached RMB 99.2 billion, a new high since the listing. The net profit was RMB 16.7 billion, a year-on-year increase of 16.5%; the net profit excluding non-recurring profit and loss hit a record high since the listing.