Key Financial Data
Year ended 31 December (RMB Million)
  2018 2019 2020
Operating Revenue 377,124 375,734 393,561
Service Revenue 350,434 357,610 373,798
Operating Profit 28,714 29,070 28,640
EBITDA 104,207 117,215 118,880
EBITDA Margin 29.7% 32.8% 31.8%
Net Profit 21,210 20,517 20,850

Please refer to the notes of the audited financial statements included in the Company's annual report for the related accounting policy.

Service Revenue = Operating Revenue - Sales of Mobile Terminals - Sales of Wireline Equipment - Other Non-Service Revenue

EBITDA Margin = EBITDA / Service Revenue

In accordance with the requirements of International Financial Reporting Standards (“IFRSs”), the Company has implemented IFRS 16, “Leases” (“Lease Standard”) since 1 January 2019. The Company has selected the modified retrospective approach for the application of the Lease Standard and recognised the cumulative effect of initial application to opening reserves without restating comparative information

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