Summary: In a statement to the Shanghai Stock Exchange, China Unicom (CHU.NYSE/600050.SS) has said it expects its net profit for the first nine months of 2017 to increase 168.4% to RMB 1.31 billion compared with the same [ … ]
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China Unicom Launches Big Data Arm to Facilitate Coordination with Newly-Introduced Internet Giant Investors
Summary: China Unicom (CHU.NYSE) has recently announced the launch of China Unicom Big Data Co., Ltd., as reported by Sohu Tech. In addition, China Unicom has formed a strategic partnership with China’s leading bank-card network operator, China Unionpay, in [ … ]
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UPDATE: CSRC to Apply Special Treatment to China Unicom’s Non-Public Shares Issuance
Summary: The China Securities Regulatory Commission (CSRC) has said it will apply special treatment to China Unicom’s (CHU.NYSE) non-public shares issuance, as reported by jrj.com. The China Unicom fund raising has finally been formalized. Why It Matters: The giant Chinese [ … ]
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China Unicom Plans to Raise RMB 78 Bln and Tencent, Baidu, Alibaba, JD Will Invest
Summary: China Unicom (CHU.NYSE) has recently announced plans to raise RMB 78 billion by issuing new A-shares, as reported by Tencent Finance. Through the fundraising, China Unicom plans to introduce multiple non-state-owned strategic investors. New strategic investors [ … ]
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China Unicom Expects 74.3% Increase in Net Profit for 1H 2017 to RMB 778 Mln
Summary: In a statement to the Shanghai Stock Exchange, China Unicom (CHU.NYSE/600050.SS) has said it expects its net profit for the first half of 2017 to increase 74.3% compared with the same period of 2016 to RMB [ … ]
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Chinese Telecom Operators to End Domestic Roaming Fees and Domestic Long Distance Call Surcharges, Starting Sep 1
Summary: China’s three major telecom operators, namely, China Mobile (CHL.NYSE), China Telecom (CHA.NYSE) and China Unicom (CHU.NYSE), recently announced that they would end domestic roaming fees and the domestic long-distance call surcharges, effective from September 1, as [ … ]
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China Unicom Significantly Cuts International Roaming Fees Again
Summary: China Unicom (CHU.NYSE/0762.HK/600050.SS) recently said that the company has been reducing international roaming charges since May 31, as reported by Tencent Finance. In addition to offering more flexible plans, China Unicom plans to reduce voice roaming [ … ]
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China Unicom Posts 88.3% Increase in Net Profit for Q1 2017
Summary: In a statement to the Shanghai Stock Exchange, China Unicom (CHU.NYSE/600050.SS/0762.HK) has posted a RMB 274.26 million net profit for the first quarter of 2017, up 88.3% from the same period of 2016. Revenue decreased 1.9% [ … ]
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China Unicom to Reportedly Raise RMB 30 Bln in Mixed-Ownership Reform
Summary: Rumors have surfaced in the Chinese market recently concerning the mixed-ownership reform of China Unicom (CHU.NYSE/600050.SS/0762.HK), as reported by Tencent Finance. According to the report, China Unicom will issue new shares to newly-introduced investors to raise [ … ]
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China Unicom’s Reform Plan Awaiting Government Approval
Summary: Lu Yimin, the General Manager of China Unicom (600050.SS/0762.HK/CHU.NYSE), has said the company’s reform plan is awaiting government approval, as reported by yicai.com. Why It Matters: The reform plan includes attracting several private companies to become involved in the operations [ … ]
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China Unicom Expects 81% Decrease in Net Profit for First Nine Months
Summary: China Unicom (CHU) expects to post a 81% decrease in net profit to RMB 490 million for the first nine months, according to Chinanews.com. For the first nine months of last year, the company posted a [ … ]
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China Unicom Expects 86% Decrease in Net Profit for 1Q
Summary: China Unicom (CHU) expects to post a 86% decrease in net profit for the first quarter to RMB 146 million, reports Chinanews.com. The company posted a RMB 1.049 billion net profit for the same period in [ … ]
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China Unicom (CHU) 4G Users Reached 49.42 Mln in January
Summary: China Unicom (CHU) has disclosed that its number of 4G users increased 5.26 million to 49.42 million in January, according to Sina. The total number of wireless service users increased 5.1 million to 257 million. Why [ … ]
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China Unicom & China Telecom Reportedly Exchange CEOs; Merger Anticipated
Summary: China Unicom (CHU) and China Telecom (CHA) have reportedly exchanged their Presidents, and the markets are expecting a merger between the two companies, according to Sina. China Telecom’s President, Wang Xiaochu, has denied a merger and [ … ]
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China Unicom and Telefónica to Form Big Data Joint Venture
Summary: China Unicom (CHU) has reached an agreement with Spanish telecom firm Telefónica (TEF) to form a joint venture (JV) on big data, according to sources cited by 10jqka.com. Initial investment in the JV has totalled RMB [ … ]
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China Unicom Posts Net Profit of RMB 12.06 Bln in 2014; Increase of 15.8% YoY
Summary: China Unicom (CHU) has posted RMB 12.06 billion in net profit for 2014, up 15.8% compared with 2013. Revenue decreased 3.5% to RMB 384.7 billion. The company also announced a dividend of RMB 0.2 per share. [ … ]
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UPDATE: China Unicom Dismisses Another Senior Manager
Summary: China Unicom (CHU) has dismissed Xinhua Zong, the manager of the company’s e-commerce unit, as a result of corruption allegations, according to Sina.com. China Unicom has yet to comment. Why It Matters: On Monday, the company [ … ]
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China Unicom Dismisses Zhijiang Zhang
Summary: China Unicom (CHU) has dismissed Zhijiang Zhang, head of the company’s network construction unit, due to alleged corruption, as reported by yicai.com. China Unicom has yet to comment. Why It Matters: In November, the Chinese government launched [ … ]
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China to Launch Anti-Corruption Probes into Sinopec, China Unicom, Eleven Others
Summary: The Chinese government plans to launch anti-corruption inspections into 13 institutions, according to government newspaper People’s Daily. The 13 institutions include several large state-owned companies, such as Sinopec (SNP), China Unicom (CHU), as well as ministries [ … ]
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China Unicom Spending RMB 6 Bln to Subsidize 4G Devices in 2015
Summary: China Unicom (CHU) President Xiaobing Chang says that the company plans to spend RMB 6 billion next year on subsidies for the manufacture and distribution of 4G devices, according to Donews. The company also plans to subsidize 4G [ … ]
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Apple Receives Licence to Sell iPhone 6 in China
Summary: Apple (AAPL) has received licences from the Ministry of Industry and Information Technology (MIIT) to sell the iPhone 6 in China, according to NetEase The company has yet to set a release date or pricing for [ … ]
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Chinese Telecom Firms Will Not Launch Contract iPhones
Summary: China’s three state-owned telecom service providers, China Unicom (CHU), China Telecom (CHA) and China Mobile (CHL), will not provide low cost contract iPhones for consumers, reports Chinanews.com. The companies plan to provide other subsidies, including data [ … ]
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China Mobile $CHL Plans to Lay Off a Significant Number of Non-Contract Workers
Summary: China Mobile (US: CHL/ HK: 0941) plans to lay off a significant number of non-contract workers, as reported by 21cbh.com. China Mobile’s branches in Shandong, Fujian, and Shanxi provinces will reportedly start the layoffs first. Why It [ … ]
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Chinese Government Requires China Unicom (CHU), China Telecom (CHA) and China Mobile (CHL) to Reduce Marketing Expense
Summary: The state-owned Assets Supervision and Administration Commission of the State Council (SASAC) requires China’s three state-owned telecom service providers, namely, China Unicom (US: CHU), China Telecom (US: CHA) and China Mobile (US: CHL), to reduce marketing [ … ]
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China Unicom (CHU), China Telecom (CHA), China Mobile (CHL) Reportedly to Establish Communication Tower Joint Venture
Summary: China’s three telecom service providers, namely, China Unicom (US: CHU), China Telecom (US: CHA) and China Mobile (US: CHL), will reportedly establish a communication tower joint venture, as reported by Sina. The joint venture will establish the [ … ]
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GOME Group to Start Trial of Communication Resale Business
Summary: Gome Group, the controlling shareholder of GOME Electrical Appliances (HK: 0493), says the company will start a trial of their communication resale business on May 17. The trial communication resale business will be based on the network of [ … ]
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China Unicom (CHU),China Telecom (CHA),China Mobile (CHL) Talks to Establish Base Station Joint Venture
Summary: China’s telecom service provider China Unicom (US: CHU) says it is talking with China Telecom (US: CHA) and China Mobile (US: CHL) to establish a base station joint venture. China Unicom says the talk is still [ … ]
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