China Telecom Announces Full-Year 2025 Performance

March 24, China Telecom released its full-year 2025 financial results. In 2025, the company’s operating revenue was 5,296 billion yuan, of which service revenue was 4,854 billion yuan, up 0.7%. EBITDA was 143.9 billion yuan, up 2.1%. Net profit was 33.2 billion yuan, up 0.5%, and basic net profit per share was 0.36 yuan. Capital expenditures were 80.4 billion yuan. Free cash flow was 44.7 billion yuan.

　Development driven by a dual-wheel model of fundamental and industrial digital businesses

　In 2025, China Telecom continued to promote a fusion development model driven by dual wheels—fundamental and industrial digital businesses—led by innovation. In 2025, China Telecom’s fundamental business revenue reached 330.5 billion yuan, up 0.7%; mobile subscribers reached 439 million, with 5G network penetration at 68.8%; broadband subscribers reached 201 million lines; and gigabit users penetration reached 31.6%. Industrial digitalization business revenue reached 147.3 billion yuan, up 0.5%, of which resource-based revenue reached 63.0 billion yuan, up 1.1%. The strategic emerging business segment continued to maintain relatively rapid growth. Tianyi Cloud revenue reached 120.7 billion yuan; its share in the public cloud IaaS market rose to second in China, and its share in the IaaS+PaaS market ranked among the top three in China; AIDC revenue reached 34.5 billion yuan; security revenue reached 16.6 billion yuan; and intelligent revenue reached 12.3 billion yuan. Vision network revenue grew 31.2% year over year, quantum revenue grew 65.4% year over year, and satellite revenue grew 30.7% year over year.

　The board of directors of China Telecom has decided to recommend to the annual general meeting of shareholders that the company pay a final dividend of 0.0908 yuan per share for 2025 (including tax). Together with the interim dividend already paid in 2025, the total dividend for the full year will be 0.2720 yuan per share (including tax).

　Fully embracing artificial intelligence

　Building a “three-type” enterprise in an all-out way

　China Telecom accurately grasps trends in technological innovation and industrial development. It fully embraces artificial intelligence and drives an upgrade of the company strategy from “cloud transformation, digitization transformation, and service transformation” to “cloud transformation, digitization transformation, and intelligence enabling and benefiting.” High-quality development takes a new, solid step forward. The company has completed and continued to deepen its “five-in-one” intelligent cloud system, making every effort to build a “three-type” enterprise—service-oriented, technology-oriented, and security-oriented. Accelerate progress toward high-level scientific and technological self-reliance and strength, concentrate resources to tackle the “Xirang” (first key technology), focus on four major foundational technologies, and continuously increase efforts to develop key core technologies. Research and development expenses reached 15.6 billion yuan, up 7.3%, with remarkable results in technological innovation.

　Promote the “AI+” initiative in a comprehensive and in-depth manner. China Telecom continues to integrate AI into core links of its own production and operations, building an AI application scenario map covering five major areas: intelligent customer service, intelligent marketing, intelligent operations, intelligent R&D, and intelligent management. Cumulatively, more than 250 applications have been deployed online. Use AI to transform business workflows and comprehensively improve operational efficiency. Build more than 110 industry large models and more than 350 industry intelligent agents, forming standardized AI application paradigm models covering 15 types of industries including industrial and government affairs. Serve more than 37,000 industry customers, and build an “AI+” initiative demonstration base for state-owned capital and central enterprises.

　Deepen efforts in quantum communications, quantum computing, and quantum precision measurement. China Telecom is accelerating the landing of end-to-end quantum products. The scale of quantum communications users has surpassed 6.8 million, serving more than 5,000 industry customers in areas such as government affairs, finance, and energy. It has realized productization of three main application scenario products: quantum computing real-machine deployment, cloud platform application, and quantum information education. It is accelerating the deployment and application of quantum precision measurement technologies in typical scenarios such as geological exploration.

　Take a forward-looking layout of the new low-altitude economy track. China Telecom has built a newly upgraded AI+ “1+1+4+N” capability system for the low-altitude economy, forming more than 1,000 application scenarios. It provides one-stop solutions for scenarios such as low-altitude infrastructure, operation and supervision, safety protection, and intelligent operations. Products have been deployed in more than 160 cities, comprehensively improving the digital, intelligent, and secure levels of low-altitude operations, helping the low-altitude economy “fly safely and fly efficiently.”

　Always integrate safe development into every link of the company’s production and operations. China Telecom continues to optimize service support and strengthen the defenses of network and information security; it released the industry’s first “AI Intelligent Agent Security Governance White Paper.” It has built a product matrix centered on products such as “Cloud Dike” against D (DikeShield), “Cloud Meridian” zero trust, “Security Brain,” and “Cloud Mirror” host security. It also launched the domestic first operator-grade intelligent agent security solution—Tianyi Zhian—helping users build OpenClaw-type intelligent agent security solutions.

　Accelerate the upgrade of digital information infrastructure to adapt to the AI era. China Telecom promotes the layout and upgrade of computing, storage, and networking, as well as AIDC and cloud-integrated electric solutions. Its in-house intelligent computing capability reaches 46 EFLOPS. Around the “Eastern Data to Western Computing” strategy, it optimizes the layout and moderately reserves resources such as data centers, power, and energy consumption at national hub nodes in advance. The rack power capacity is over 3.2 GW. The total power of high-power racks increases by more than 35% year over year. It actively carries out overseas AIDC layout. It deepens the coordinated development of compute-and-power, advances power-supply architecture upgrades, explores new power-supply models, and is the first to build 4 nationwide benchmark projects.

　Continuously advance the evolution and upgrade of information and communications network infrastructure that integrates space, air, and earth, as well as international and domestic integration. China Telecom builds a gigabit optical network with more than 10 million 10G PON ports; the coverage rate of gigabit residential users in towns and cities exceeds 97%. It advances the establishment and implementation of the next-generation high-orbit mobile communication satellites and high-orbit high-throughput satellites, opens and shares the Tiantong business, and launches Beidou short-message commercial trial operations. It builds an international network system of “one axis, two wings, three networks, and four centers.” It advances the construction of full-service gateways in Kunming and Haikou, takes the lead in building the Asia Direct (ADC) international submarine cable, and actively serves business expansion toward the Belt and Road Initiative. It builds a shared network with coordinated collaboration across high-, mid-, and low-frequency bands and a fusion of 5G and 4G, continuously contributing China’s wisdom and China’s solutions to the world.

　In 2026, China Telecom will fully implement the strategy of “cloud transformation, digitization transformation, and intelligence enabling and benefiting.” With the goal of building a leading AI service provider, and using Token services as the business operating main line, it will strengthen original innovation and tackle key core technologies, and accelerate efforts to build and upgrade intelligent, comprehensive digital information infrastructure.

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