Investor Relations

Financial Highlights

Full Year    |    Half Year Full Year The chart above is based on adjusted results. Year ended 31 December (RMB million) Adjusted Results (Excluding Upfront Connection Fees) 2006 2007* 2008# Operating Revenue 170,645 175,362 184,779 Operating Profit 33,565 33,717 30,505 EBITDA Δ 84,866 85,974 85,889 EBITDA Margin 49.7% 49.0% 46.5% Net Profit 22,270 22,517 20,066 IFRS-based Results (Including Upfront Connection Fees) 2006 2007 2008 Operating Revenue 175,616 178,656 186,801 Operating Profit 38,536 37,011 5,145 EBITDA Δ 89,837 89,268 84,696 EBITDA Margin 51.2% 50.0% 45.3% Net Profit 27,241 23,702 884 * Net profit for 2007 was arrived at excluding deficit on revaluation of property, plant and equipment (RMB 2,755 million) and related tax impact arising from across-the-board revaluation which was conducted every 3 years. # Operating Profit, EBITDA and Net Profit for 2008 was arrived at excluding the impact of one-off exceptional items of natural disasters (pre-tax: RMB 3,428 million; after-tax: RMB 2,838 million) and PAS asset impairment loss (pre-tax: RMB 23,954 million; after-tax: RMB 18,366 million) Δ EBITDA was calculated before CDMA Network Leasing Fees to enhance comparability. Please refer to the corresponding notes of the audited financial statements within the Company's respective annual reports for the related accounting policy and result of the revaluation.