Chinese tower operator China Tower has renewed multi-year framework agreements with compatriot operators China Telecom and China Unicom in a bid to pave the way for an expected demand for IoT data tracking and analytics know-how similar to its “Smart Towers” business. segment. .
In a filing with the Hong Kong Stock Exchange, China Tower said it recently signed agreements with China Telecom and China Unicom to lease transmission and cloud resources, adding telecom power cables, telecom equipment, personal lines and cloud equipment .
The corporate noted that the new framework agreements aim to assistance China Tower manage call for for “surveillance knowledge transmission and similar knowledge research for mid- and high-level IoT gadgets – adding video camerasArray weather sensors, radars and other sensors – in his “Two Wings Affair. ”
China Tower’s smart tower business segment is one of the “Two Wings” businesses and uses medium and high-rise “digital towers” provided with IoT devices to gather insights that allow government agencies to monitor critical areas, aggregating water resources, transportation, and environmental coverage. And emergencias. respuesta. La other “wing” is its strength business, which includes battery changes and power backup services.
China Tower noted that the two framework agreements, which are effective and will be in effect until the end of 2026, come with annual transaction limits. For China Telecom’s framework agreement, annual transactions are capped at CNY 150 million (USD 20. 9 million), CNY 190 million. and CNY 230 million for 2024, 2025 and 2026, respectively. For the agreement with China Unicom, the limits are set at CNY 120 million, CNY 150 million and CNY 180 million for the same 3 years.
In its first half 2024 monetary results released last week, China Tower said its tower profits rose 17. 6% year-on-year to CNY 3. 9 million. Of this amount, 63% came from its monitoring tower activity.
China Tower ended the first part of 2024 with a total of 2. 07 million towers under management, following an additional addition of 9,000 sites during the period.
The company said the total number of tower tenants increased from 84,000 to 3. 73 million, raising the average number per tower from 1. 77 at the end of the first part of 2023 to 1. 80 at the end of the first part of 2024.
China Tower’s net profit in the first half rose 10. 1% year-on-year to CNY5. 33 billion, while operating cash rose 3. 8% to CNY48. 24 billion.
China Tower was established in 2014, when Chinese cellular operators China Mobile, China Unicom, and China Telecom transferred their telecom towers to the new company. The 3 telecommunications corporations will create the new entity with the aim of eliminating the redundant structure of telecommunications infrastructure throughout the country. China Mobile, China Unicom, and China Telecom currently hold 38%, 28. 1%, and 27. 9% of the shares, respectively. State-owned asset manager China Reform Holding owns the remaining 6%.