Company code: China United Network Communications Limited(600050) company abbreviation: China United Network Communications Limited(600050) China United Network Communications Limited(600050)
Annual report for 2021
Important tips
1、 The board of directors, board of supervisors, directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and integrity of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 2、 All directors of the company attended the board meeting. 3、 Deloitte Touche Tohmatsu (special general partnership) has issued a standard unqualified audit report for the company. 4、 Liu Liehong, the person in charge of the company, Li Yuzhuo, the person in charge of accounting, and Wang Fang, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in the annual report. 5、 The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
The profit distribution plan for the reporting period considered by the board of directors of the company is as follows: the company holds the equity of China United Network Communications (Hong Kong) Co., Ltd. (hereinafter referred to as “Unicom red chip company”) through China United Network Communications Limited(600050) (BVI) Co., Ltd. according to the articles of association, the cash from dividends from Unicom red chip company shall be deducted from the daily cash expenses of the company After taxes and various accumulation funds that should be withdrawn according to laws and regulations, they shall be fully distributed to shareholders in cash.
On March 11, 2022, the board of directors of China Unicom red chip company proposed to pay the final dividend of 2021, with a dividend of 0.096 yuan per share. If approved by the annual general meeting of shareholders of China Unicom red chip company, the company is expected to receive a dividend of about RMB 1.291 billion calculated according to the shareholding ratio. According to the articles of association, after receiving such dividends, after deducting the company’s daily expenses and taxes of about 25 million yuan, deducting the statutory reserve of about 127 million yuan in 2022, and adding the company’s profit available for distribution to shareholders of 60 million yuan at the end of 2021, the profit available for distribution to shareholders is about 1.199 billion yuan.
According to the detailed rules for the implementation of share repurchase by listed companies of Shanghai Stock Exchange and other relevant provisions, the company’s shares in the company’s special securities account for repurchase will not participate in this dividend distribution.
Accordingly, the board of directors suggests that the company plans to distribute a cash dividend of RMB 0.391 (tax included) for every 10 shares after the closing of the equity registration date determined in the announcement of equity distribution, and the remaining profits available for distribution to shareholders will be used for profit distribution in subsequent years.
Before the equity registration date of equity distribution, if the total share capital of the company that can participate in profit distribution changes, it is proposed to maintain the total distribution unchanged and adjust the dividend proportion per share accordingly.
The profit distribution plan needs to be submitted to the general meeting of shareholders of the company for deliberation. 6、 Risk of forward-looking statements
The development strategy, future business plan and other forward-looking statements involved in the company’s 2021 annual report do not constitute the company’s substantive commitment to investors. Please pay attention to investment risks.
7、 Is there any non operating occupation of funds by the controlling shareholders and their related parties
VIII. Whether there is any external guarantee in violation of the specified decision-making procedures
IX. whether more than half of the directors cannot guarantee the authenticity, accuracy and completeness of the annual report disclosed by the company
X. major risk warning
In this report, the company has described in detail the existing market competition continuous risk, industry regulatory policy risk, network and information security risk, business transformation and development risk and technology iterative development risk. Please refer to the possible risk factors in the company’s discussion and Analysis on the company’s future development in Section III Management Discussion and analysis.
catalogue
Section 1 interpretation Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section 4 corporate governance Section V environmental and social responsibility 49 section VI important matters Section VII changes in shares and shareholders 57 Section VIII preferred shares Section 9 information about bonds Section x financial report sixty-eight
Accounting statements containing the signatures and seals of the legal representative, the person in charge of accounting and the person in charge of accounting institutions
The original of the audit report with the seal of the accounting firm and the signature and seal of the certified public accountant
Originals of all company documents and announcements publicly disclosed in newspapers designated by the CSRC during the reporting period
2021 annual performance announcement of China United Network Communications (Hong Kong) Co., Ltd
Section I interpretation
1、 In this report, unless the context otherwise requires, the following words have the following meanings:
Interpretation of common words
The company / company refers to China United Network Communications Limited(600050)
The group refers to the company and all its subsidiaries
MIIT refers to the Ministry of industry and information technology of the people’s Republic of China
SASAC refers to the state owned assets supervision and Administration Commission of the State Council
Unicom BVI means China United Network Communications Limited(600050) (BVI) Limited, a limited company incorporated under the laws of the British Virgin Islands.
Unicom red chip refers to China United Network Communications (Hong Kong) Co., Ltd., an indirect holding subsidiary of the company, a limited company incorporated in Hong Kong, whose shares are listed on the Hong Kong and New York stock exchanges.
China Unicom Group refers to China United Network Communication Group Co., Ltd
Unicom operation company refers to China United Network Communication Co., Ltd., a wholly-owned subsidiary of China Unicom red chip company, an indirect holding subsidiary of the company.
Shanghai stock exchange refers to Shanghai Stock Exchange
Iron tower company / China iron tower Co., Ltd
National iron tower
CSRC refers to the China Securities Regulatory Commission
2b2c refers to the business model of the group through cooperation with various enterprises with rich customer contacts, focusing on improving the customer service ability of cooperative enterprises, extending business coverage and realizing precision marketing customers with the help of the advantages of wide coverage of various enterprise users.
2b2h refers to an innovative marketing model to expand family business with the help of industry channels and contacts.
2G and GSM refer to the global system for mobile communications, that is, the global mobile communication system, which is based on digital transmission and cellular mobile network structure and adopts time-division access technology, which is called 2g wireless standard. It is mainly deployed on frequencies such as 900MHz, 1800MHz and 1900MHz, and has realized roaming all over the world.
Based on the advantages of I2C business model, the company extends the scope of business cooperation with customers through accurate Internet marketing and I2C business model.
2i2h refers to an innovative marketing model for developing family business with the help of Internet channels and contacts.
3G and WCDMA refer to wideband code division multiple access, that is, wideband code division multiple access technology, which transmits voice and data on the 5MHz bandwidth spectrum. It is a 3G wireless standard parallel to EV-DO / TD-SCDMA. Different 3GPP versions can reach peak rates of 14.4mbps, 21mbps or even higher. It is mainly deployed at 2.1GHz frequency.
4G refers to the abbreviation of the fourth generation mobile communication technology, also known as IMT advanced. In 2010, ITU designated LTE advanced and IEEE 802.16m as 4G wireless access technologies.
4G + means to further expand the network spectrum, optimize the network quality and greatly improve the network rate on the basis of the original 4G network through carrier aggregation and other technologies.
4K video refers to the video whose output image resolution reaches 4K (3840 2160). 4K video has higher image quality and definition.
5g refers to the fifth generation mobile communication technology, which is an extension of 4G.
ARPU refers to the average monthly business income contributed by each user.
CBSs refers to the central business support system.
Dou refers to the average monthly Internet traffic used by each user.
EBITDA refers to the net profit that reflects the depreciation and amortization added back to financial expenses, income tax, operating costs, administrative expenses and R & D expenses, and minus investment income, net income from changes in fair value, other income and net non operating income. As the telecommunications industry is capital intensive, capital expenditure and financial expenses may have similar impact on the industry
Similar operating results have a significant impact on the company’s profits. Therefore, the company believes that for telecom companies similar to the company, EBITDA is helpful to analyze the company’s operating results, but it is not a financial indicator of generally accepted accounting principles and has no unified definition, so it may not be compared with similar indicators of other companies.
FTTH refers to the broadband access mode of optical fiber to the home.
FTTx refers to a new generation of optical fiber user access network, which is used to connect telecom operators and end users. According to the distance from optical fiber to users, FTTx can be divided into service forms such as fttcab (optical fiber to switching box), FTTC (optical fiber to roadside), FTTB (optical fiber to building) and FTTH (optical fiber to home).
ICT refers to information communications technology, which is a new concept and new technical field formed by the integration of information technology and communication technology. At present, ICT is more regarded as a service provided to customers. This service is the combination and integration of it (Information Industry) and CT (communication industry). Communication industry, electronic information industry, Internet and media industry will be integrated within the scope of ICT.
IDC refers to the Internet data center, which is a facility base based on the Internet network to provide operation and maintenance and relevant services for the equipment that centrally collects, stores, processes and sends data.
LTE refers to long term evolution, which is a 3G Evolution technology led by the international organization for standardization 3GPP. It is a wireless access technology in the 4G era. It adopts technologies such as OFDM and MIMO and more flexible spectrum bandwidth than 3G to achieve a peak rate of 100 ~ 150Mbps (under 20MHz bandwidth).
LTE FDD refers to the LTE standard of FDD version. LTE is a 4G technical standard formulated by 3GPP organization. Based on OFDM technology, FDD represents frequency division duplex.
NB IOT refers to narrow band Internet of things, which is a low-power cellular connection technology based on authorized spectrum.
Nfv refers to network function virtualization, that is, network function virtualization, which refers to a network architecture that uses virtualization technology to provide various network element functions.
NPs refers to Net Promoter Score, referred to as net recommendation value, which measures “customer to customer”
