China Mobile Jan-Sep Net Profit Surged

China Unicom (Hong Kong) Ltd. (SEHK: 0762 and NYSE: CHU) reported a net profit of CNY 9.34 billion for the first three quarters of 2009, exceeding that in entire 2008 by 19.3%.

China Unicom achieved a total revenue of CNY 114.93 billion in the first nine months this year, including CNY 112.22 billion from the telecoms business, and its basic earnings per share reached CNY 0.393. Meanwhile, the Chinese telecoms operator drew CNY 35.17 billion on depreciation and amortization as well as spent CNY 14.88 billion on marketing.

The company agreed with its Spanish peer Telefonica SA (NYSE: TEF and MCE: TEF) on September 6, 2009 to purchase USD 1 billion worth of shares from each other. After the transactions, China Unicom owns 0.88% of Telefonica, and Telefonica has increased its stake in the Chinese telecoms operator from 5.38% to about 8%.

In addition, the biggest Chinese mobile operator China Mobile Ltd. (NYSE: CHL and SEHK: 0941) gained a net profit of CNY 83.935 billion from January to September 2009.

Source: www.beijingtimes.com.cn (November 02, 2009)

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