CHINA UNICOM RELEASES 2003 ANNUAL REPORT
AsiaInfo Services, March, 2004
AsiaInfo Services 03-29-2004 China Unicom Releases 2003 Annual Report BEIJING, Mar 29, 2004 (SinoCast via COMTEX) -- China Unicom Limited (SEHK: 0762)announced the 2003 annual report on March 25. The report reveals that the net profit reached CNY 4.22 billion (USD 1 = CNY 8.2771) in 2003, reducing by 8.3% from CNY 4.6 billion in 2002. The profit is lower than analysts expected CNY 4.95 billion.
This is the first slump of the profit since China Unicom was listed in Hong Kong in 2000. The earnings per share (EPS) of the company was CNY 0.336 in 2003, lower than CNY 0.366 in 2002. But its revenues increased to CNY 67.64 billion, growing by 67%, which is mainly because that it acquired the mobile business of nine provinces and cities from its parent company,...
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