China Unicom

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% [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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. [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]

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 [ … ]