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A-share listing of China Unicom, one of China's three state telecom operators, providing mobile, broadband and enterprise services.
A-share listing of China Unicom, one of China's three state telecom operators, providing mobile, broadband and enterprise services.
Earns recurring monthly fees from mobile and broadband subscribers, with enterprise cloud, data and connected-device contracts the second line. It shares its 5G radio network with China Telecom to split the build-out cost. This is the Shanghai listing, closely tied to the Hong Kong-listed China Unicom, and the state owns the group.
In one line: A Chinese Verizon/AT&T.
Moat: narrow (regulatory licence, scale, installed base). One of only three licensed national telecom operators, with a large existing network.
Headquarters: Beijing, China · Founded: 2009 · Employees: 237,251
Size China United Network Communications (600050.SS) is a China Communication Services company (Major Telecommunications) with a market value of $20.4B, the 106th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.47 on 6 Nov 2026.
Performance Over six months the shares fell 1.1%, against -7.8% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 16 in its peer set.
Growth Revenue grew 0.4% over the last twelve months (peer median +1.7%); the operating margin is 1.8% (peer median 17.2%).
Valuation It trades at 17.9× forward earnings against a peer median of 15.5× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.6 points above its cost of capital (5.2% WACC).
Next results Next results expected around 5 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥394B | CN¥392B | CN¥389B | CN¥372B | CN¥355B |
| Revenue growth | — | +1% | +5% | +5% | — |
| Gross profit | CN¥140B | CN¥85.7B | CN¥85.1B | CN¥86.1B | CN¥81.3B |
| EBITDA | n/a | CN¥96.5B | CN¥96.6B | CN¥102B | CN¥103B |
| Net income | CN¥6.16B | CN¥8.99B | CN¥8.89B | CN¥7.96B | CN¥7.11B |
| Free cash flow | CN¥28.6B | CN¥26.3B | CN¥18.0B | CN¥27.0B | CN¥30.9B |
| Capital expenditure | CN¥66.9B | CN¥67.6B | CN¥75.7B | CN¥79.4B | CN¥72.5B |
| Total debt | CN¥42.1B | CN¥48.9B | CN¥57.9B | CN¥66.8B | CN¥71.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| China United Network Communications 600050.SS | $20.4B | -1% | 0% | 2% | 17.9× | -14.9% |
| China Mobile 0941.HK | $227B | -2% | +4% | 19% | 11.3× | -16.3% |
| China Telecom 0728.HK | $89.4B | -14% | +1% | 6% | 12.3× | -17.0% |
| China Unicom 0762.HK | $21.3B | -26% | +4% | 2% | 8.2× | -8.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 600050.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.7% | +6.7% | 7th lowest of 16 |
| 6-month return | -1.1% | -7.8% | 6th highest of 16 |
| Distance from 52-week high | -19.2% | -15.7% | 7th lowest of 16 |
| Revenue growth (TTM) | +0.4% | +1.7% | 6th lowest of 16 |
| Operating margin | 1.8% | 17.2% | lowest of 16 |
| Forward P/E | 17.9× | 15.5× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -14.9% | -0.9% | 2nd least demanding of 16 |
| Growth delivered (Del g) | +5.2% | +2.6% | 4th highest of 16 |
| Hurdle (Req g minus delivered) | -20.2 pp | -2.6 pp | 2nd least demanding of 16 |
| ROIC minus cost of capital | +6.6 pp | +1.7 pp | 2nd highest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China United Network Communications 600050.SS | China | $20.4B | -1% | 0% | 2% | 17.9× | -14.9% | +5.2% |
| BCE BCE.TO | Canada | $20.3B | -9% | +2% | 22% | 12.3× | -0.9% | +1.3% |
| Telenor TEL.OL | Norway | $19.8B | -14% | -7% | 24% | 13.5× | -7.7% | -8.0% |
| China Unicom 0762.HK | Hong Kong | $21.3B | -26% | +4% | 2% | 8.2× | -8.3% | +4.5% |
| Royal KPN KPN.AS | Netherlands | $18.6B | -4% | +2% | 24% | 18.2× | -2.5% | +1.9% |
| BT Group plc BT.A.L | United Kingdom | $28.8B | -8% | -4% | 17% | 12.2× | 4.3% | -1.7% |
| Quebecor QBR-B.TO | Canada | $12.3B | +36% | +3% | 27% | 16.8× | 0.4% | +5.6% |
| HKT Trust and HKT 6823.HK | Hong Kong | $11.9B | -2% | +7% | 22% | 16.8× | -3.1% | +2.4% |
| Tele2 TEL2-A.ST | Sweden | $11.2B | -14% | +2% | 24% | 10.7× | -2.4% | +2.4% |
| Chunghwa Telecom 2412.TW | Taiwan | $38.4B | +20% | -10% | 20% | 30.1× | 7.4% | +2.6% |
| KT 030200.KS | South Korea | $9.46B | -12% | +9% | 7% | 9.0× | -4.1% | +3.4% |
| Swisscom SCMN.SW | Switzerland | $45.7B | +7% | +14% | 16% | 26.1× | 3.7% | +6.3% |
| Singapore Telecommunications Z74.SI | Singapore | $52.2B | -14% | +1% | 8% | 21.7× | 21.5% | -1.8% |
| United Internet UTDI.DE | Germany | $5.17B | -9% | -8% | 9% | 15.5× | 1.4% | +2.7% |
| LG Uplus 032640.KS | South Korea | $5.17B | +6% | 0% | 7% | 9.8× | -17.5% | +2.9% |
| Tata Communications TATACOMM.NS | India | $5.15B | +7% | +9% | 8% | 30.9× | 34.1% | +7.7% |