Baidu, the No. 1 Chinese Internet search services provider
Baidu is the third ranked Chinese Internet company by capitalisation but its sales have stalled; results for 5 calendar years 2011 to 15 (RMB millions):
| 2011 | 2012 | 2013 | 2014 | 2015 | 2015 ($) | |
| Total revenue | 14501 | 22306 | 31944 | 49052 | 66,382 | 10248 |
| Cost of revenues | 3897 | 6449 | 11,472 | 18,885; | 27,458; | 4,239 |
| SG&A: | 1,693 | 2,501 | 5,174 | 10,382 | 17,076 | 2,636 |
| R&D: | 1334 | 2305 | 4107 | 6981 | 110176 | 1571 |
| Total costs: | 6,924 | 11,255 | 20,753 | 36,248 | 54,710 | 8,446 |
| Operating profit | 7577 | 11,051 | 11191 | 12,804 | 11672 | 1802 |
| Net income: | 6,620 | 10,391 | 10,388 | 12,253 | 32,432 | 5,007 |
Latest Baidu financial Q4 and calendar 2016 results
On February 23rd Nasdaq-quoted Baidu, the leading Chinese language Internet search provider, announced unaudited financial results for the fourth quarter and fiscal year ended December 31, 2016 as follows:
1.Total revenue in the fourth quarter of 2016 of RMB 18.212 billion ($2.623 billion), a 2.6% decrease from the corresponding period in 2015, and flat year-on-year, excluding Qunar in the fourth quarter of 2015.
2.Total revenue in fiscal year 2016 of RMB 70.549 billion ($10.161 billion), a 6.3% increase and 11.9% year-on-year increase, excluding Qunar from 2015.
(NB: in October 2015 Baidu exchanged a number of shares it owned in online travel company Qunar of the Cayman Islands for a number of shares in Ctrip, as a result of which Ctrip ended up with a 45% share of Qunar and Baidu ended up with a 25% share of Ctrip.)
Annual results for China’s three telcos with collective revenue of $200 billion
China Mobile
China Mobile lift-off in 4G data usage from 849 million 4G users drives 6% revenue growth; results for 5 years 2011 to 15 (RMB millions):
| 2011 | 2012 | 2013 | 2014 | 2015 | 2015 ($) | |
| Operating revenue: | 547,286 | 591,006 | 640,048 | 651,509 | 668,335 | 103,173 |
| Operating expenses: | 396,541 | 440,317 | 508,624 | 534,189 | 565,413 | 87,285 |
| Profit from operations: | 250,745 | 150,689 | 131,424 | 117,320 | 102,922 | 15,888 |
| Profit to shareholders: | 122,162 | 126,799 | 116,791 | 109,218 | 108,539 | 16,756 |
2011;2012;2013;2014;
2016 calendar year financial results reported March 23rd (Customers, millions; RMB millions or as shown):
| 2016 | 2015 | Change | |
| Total mobile customers: | 848.9 | 826.24 | 2.70% |
| 4G customers: | 535.04 | 312.28 | 71.30% |
| Operating revenue: | 708.421 | 668.335 | 6% |
| from telecom services: | 623.422 | 584.089 | 6.70% |
| EBITDA: | 256.677 | 240.028 | 6.90% |
| Profit to shareholders: | 108.741 | 108.539 | 0.20% |
| Basic EPS (RMB): | 5.31 | 5.3 | 0.20% |
Highlights for China Mobile in 2016
•4G penetration of customer base reached 63%
•Wireless data traffic increased by 43.5% and was 46.2% of revenue from telecom services.
•Excluding the one-off gain in 2015 due to the national consolidation of tower assets into one company the profit shown above increased by 10.5%.
•After adding 400,000 more 4G base stations in 2016 the company now operates 1.51 million of them that cover more than 1.3 billion people.
•Average wireless download speeds on urban roads reached 40Mbit/s.
•Commercial VoLTE services were introduced into more than 300 cities.
•In 2016 the company added 22.59 million wireline broadband customers for total 77.62 million, 76.9% of which subscribed to services with a bandwidth of 20 Mbit/s or above. HD VoD customers exceeded 22.80 million.
•In 2016 the company served 5.45 million corporate customers.
•Connections to the company’s national dedicated IoT core network reached 100 million.
•Traffic for its mobile payment services exceeded RMB 1 trillion.
After minimal growth 2013/14/15 China Telecom recovers momentum in 2016
China Telecom results for 5 years 2011 to 15 (RMB millions):
2011;2012;2013;2014;2015;2015 ($)
Operating revenue:245,149;283,176;321,584;324,394;331,202;51,129
Operating expenses:221,028;261,968;294,116;295,886;304,760;47,047
Operating income:24,121;21,208;27,468;28,508;26,442;4,082
Profit to shareholders:16,494;14,949;17,545;17,680;20,054;3,096
2016 year financial results reported March 21, 2017 (customers in millions; RMB millions or as shown):
2016;2015;Change
Operating revenues:352,285;331,202;6.4%
Service revenue:309,644;293,266;5.6%
Mobile:137,611;124,503;10.5%
Wireline:172,033;168,763;1.9%
EBITDA:95,139;94,106;1.1%
Net Profit:18,004;20,054; (10.2%)
EPS (RMB):0.222;0.248; (10.2%)
Adj net profit:18,004;16,117;11.7%
Adj EPS:0.222;0.199;11.7%
(NB: adj. net profit excludes one time gain in 2015 from national consolidation of tower assets.)
Subscribers (millions):
2016;2015;Net additions
Mobile subscribers:215.0;197.9;17.1
4G terminal users:121.87;58.46;63.41
Wireline b/band subscribers:123.12;113.06;10.06
FTTH:105.99;70.99;35.00
Highlights for China Telecom in 2016
•Capital expenditure was down 11.3% YoY to RMB 96.8 billions.
•800 MHz frequencies extensively refarmed in 2016 for 4G network.
•Declared 2016 dividend of HK 10.5 cents.
