Form 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Month of November 2010
Commission File Number 1-15028
China Unicom (Hong Kong) Limited
(Exact Name of Registrant as Specified in Its Charter)
75/F, The Center,
99 Queens Road Central, Hong Kong
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover
of Form 20-F or Form 40-F.)
Form 20-F þ Form 40-F o
(Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by
Regulation S-T Rule 101(b)(1): .)
(Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by
Regulation S-T Rule 101(b)(7): .)
(Indicate by check mark whether the registrant by furnishing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.)
Yes o No þ
(If Yes is marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b):82- .)
EXHIBITS
FORWARD-LOOKING STATEMENTS
This announcement contains certain forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements may include, without limitation, statements relating to
the Companys competitive position; the Companys business strategies and plans, including those
relating to the Companys networks, services and products, as well as sales and marketing, in
particular, such networks, services, products, sales and marketing in respect of the Companys 3G
business; the Companys future business condition, future financial results, cash flows, financing
plans and dividends; the future growth of market demand of, and opportunities for, the Companys
new and existing products and services, in particular, 3G services; and future regulatory and other
developments in the PRC telecommunications industry.
The words anticipate, believe, could, estimate, intend, may, seek, will and similar
expressions, as they relate to us, are intended to identify certain of these forward-looking
statements. The Company does not intend to update any of these forward-looking statements.
The forward-looking statements contained in this announcement are, by their nature, subject to
significant risks and uncertainties. In addition, these forward-looking statements reflect the
Companys current views with respect to future events and are not a guarantee of the Companys
future performance. Actual results may differ materially from those expressed or implied in the
forward-looking statements as a result of a number of factors, including, without limitation:
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changes in the regulatory regime and policies for the PRC telecommunications industry,
including changes in the regulatory policies of the Ministry of Industry and Information
Technology, the State-owned Assets Supervision and Administration Commission, and other
relevant government authorities of the PRC; |
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changes in the PRC telecommunications industry resulting from the issuance of 3G licenses
by the central government of the PRC; |
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effects of tariff reduction and other policy initiatives from the relevant PRC government
authorities; |
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changes in telecommunications and related technologies and applications based on such
technologies; |
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the level of demand for telecommunications services, in particular, 3G services; |
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competitive forces from more liberalized markets and the Companys ability to retain market
share in the face of competition from existing telecommunications companies and potential new
market entrants; |
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effects of competition on the demand and price of the Companys telecommunications
services; |
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the availability, terms and deployment of capital and the impact of regulatory and
competitive developments on capital outlays; |
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effects of the Companys restructuring and integration following the completion of the
Companys merger with China Netcom Group Corporation (Hong Kong) Limited; |
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effects of the Companys adjustments in its business strategies relating to the personal
handyphone system, or PHS, business; |
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effects of the Companys acquisition from its parent companies of certain
telecommunications business and assets, including the fixed-line business in 21 provinces in
southern China, in January 2009; |
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changes in the assumptions upon which the Company have prepared its projected financial
information and capital expenditure plans; |
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changes in the political, economic, legal and social conditions in the PRC, including the
PRC Governments policies and initiatives with respect to economic development in light of the
recent global economic downturn, foreign exchange policies, foreign investment activities and
policies, entry by foreign companies into the PRC telecommunications market and structural
changes in the PRC telecommunications industry; and |
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the recovery from the recent global economic downturn inside and outside the PRC. |
Please also see the Risk Factors section of the Companys latest Annual Report on Form 20-F, as
filed with the U.S. Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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CHINA UNICOM (HONG KONG) LIMITED
(Registrant)
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Date: November 1, 2010
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By: |
/s/ Chang Xiaobing
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Name: |
Chang Xiaobing |
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Title: |
Chairman and Chief Executive Officer |
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Exhibit 1
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no
responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or
in reliance upon the whole or any part of the contents of this announcement.
ANNOUNCEMENT
The Board of the Company is pleased to announce the unaudited condensed
consolidated results of the Group for the nine months ended 30 September 2010.
GROUP RESULTS
China Unicom (Hong Kong) Limited (the Company) is pleased to announce the unaudited condensed
consolidated results of the Company and its subsidiaries (the Group) for the nine months ended 30
September 2010.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2010
(All amounts in Renminbi (RMB) millions)
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30 September |
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31 December |
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2010 |
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2009 |
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ASSETS |
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Non-current assets |
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Property, plant and equipment |
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355,106 |
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351,157 |
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Lease prepayments |
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7,470 |
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7,729 |
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Goodwill |
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2,771 |
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2,771 |
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Deferred income tax assets |
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5,432 |
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5,202 |
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Available-for-sale financial assets |
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6,893 |
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7,977 |
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Other assets |
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11,541 |
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11,596 |
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389,213 |
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386,432 |
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Current assets |
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Inventories and consumables |
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2,016 |
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2,412 |
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Accounts receivable, net |
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9,412 |
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8,825 |
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Prepayments and other current assets |
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5,687 |
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4,252 |
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Amounts due from related parties |
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47 |
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53 |
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Amounts due from domestic carriers |
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1,264 |
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1,134 |
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Proceeds receivable for disposal of the CDMA business |
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5,121 |
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Short-term bank deposits |
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758 |
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996 |
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Cash and cash equivalents |
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10,591 |
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7,820 |
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29,775 |
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30,613 |
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Total assets |
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418,988 |
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417,045 |
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EQUITY |
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Capital and reserves attributable to equity holders of the Company |
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Share capital |
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2,310 |
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2,310 |
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Share premium |
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173,436 |
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173,435 |
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Reserves |
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(18,766 |
) |
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(18,088 |
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Retained profits |
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- Proposed 2009 final dividend |
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3,770 |
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- Others |
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48,178 |
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45,038 |
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205,158 |
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206,465 |
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Non-controlling interest in equity |
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2 |
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2 |
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Total equity |
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205,160 |
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206,467 |
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30 September |
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31 December |
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2010 |
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2009 |
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LIABILITIES |
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Non-current liabilities |
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Long-term bank loans |
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1,493 |
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759 |
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Corporate bonds |
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7,000 |
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7,000 |
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Promissory note |
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15,000 |
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Deferred income tax liabilities |
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19 |
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245 |
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Deferred revenue |
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2,354 |
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2,562 |
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Other obligations |
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183 |
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187 |
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26,049 |
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10,753 |
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Current liabilities |
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Accounts payables and accrued liabilities |
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98,088 |
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104,072 |
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Taxes payable |
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1,258 |
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912 |
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Amounts due to ultimate holding company |
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256 |
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308 |
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Amounts due to related parties |
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4,492 |
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5,438 |
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Amounts due to domestic carriers |
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928 |
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1,136 |
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Payables in relation to disposal of the CDMA business |
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7 |
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Dividend payable |
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1,430 |
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331 |
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Commercial paper |
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23,000 |
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Short-term bank loans |
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28,885 |
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63,909 |
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Current portion of long-term bank loans |
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57 |
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62 |
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Current portion of deferred revenue |
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1,100 |
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1,397 |
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Current portion of other obligations |
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2,532 |
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2,534 |
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Advances from customers |
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25,753 |
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19,719 |
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187,779 |
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199,825 |
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Total liabilities |
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213,828 |
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210,578 |
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Total equity and liabilities |
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418,988 |
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417,045 |
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Net current liabilities |
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(158,004 |
) |
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(169,212 |
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Total assets less current liabilities |
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231,209 |
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217,220 |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF INCOME
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2010
(All amounts in RMB millions, except per share data)
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Nine months ended |
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30 September |
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Note |
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2010 |
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2009 |
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Revenue |
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125,109 |
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114,928 |
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Interconnection charges |
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(10,151 |
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(9,520 |
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Depreciation and amortisation |
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(40,543 |
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(35,173 |
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Networks, operations and support expenses |
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(19,342 |
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(17,155 |
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Employee benefit expenses |
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(17,195 |
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(16,020 |
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Other operating expenses |
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(32,887 |
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(25,617 |
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Finance costs |
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(1,307 |
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(589 |
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Interest income |
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62 |
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65 |
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Other income net |
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504 |
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368 |
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Unrealised gain on changes in fair value
of derivative financial instrument |
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3 |
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962 |
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Profit before income tax |
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4,250 |
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12,249 |
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Income tax expenses |
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(982 |
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(2,911 |
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Profit for the period |
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3,268 |
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9,338 |
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Attributable to: |
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Equity holders of the Company |
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3,268 |
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9,338 |
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Non-controlling interest |
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3,268 |
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9,338 |
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Basic earnings per share (in RMB) |
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4 |
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0.14 |
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0.39 |
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Diluted earnings per share (in RMB) |
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4 |
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0.14 |
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0.39 |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2010
(All amounts in RMB millions)
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Nine months ended |
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30 September |
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2010 |
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2009 |
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Profit for the period |
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3,268 |
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9,338 |
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Other comprehensive (loss)/ income |
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Fair value (losses)/gains on available-for-sale financial assets |
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(1,098 |
) |
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72 |
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Tax effect on fair value losses/(gains) on available-for-sale financial assets |
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268 |
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(5 |
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Fair value (losses)/gains on available-for-sale financial assets, net of tax |
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(830 |
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67 |
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Currency translation differences |
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(32 |
) |
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4 |
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Other comprehensive (loss)/ income for the period, net of tax |
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(862 |
) |
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71 |
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Total comprehensive income for the period |
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2,406 |
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9,409 |
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Total comprehensive income attributable to: |
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Equity holders of the Company |
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2,406 |
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9,409 |
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Non-controlling interest |
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2,406 |
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9,409 |
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UNAUDITED
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2010
(All amounts in RMB millions)
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Nine months ended |
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30 September |
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Note |
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2010 |
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|
2009 |
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Net cash inflow from operating activities |
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58,653 |
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46,475 |
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Net cash outflow from investing activities |
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(a |
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(56,924 |
) |
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(60,810 |
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Net cash inflow from financing activities |
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1,042 |
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15,281 |
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Net increase in cash and cash equivalents |
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2,771 |
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|
946 |
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Cash and cash equivalents, beginning of period |
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|
7,820 |
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|
10,237 |
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|
|
|
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|
|
|
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|
|
|
|
|
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|
Cash and cash equivalents, end of period |
|
|
|
|
|
|
10,591 |
|
|
|
11,183 |
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Analysis of the balances of cash and cash equivalents: |
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Cash balances |
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7 |
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8 |
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Bank balances |
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10,584 |
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11,175 |
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10,591 |
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11,183 |
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(a) |
|
The net cash outflow from investing activities for the nine months ended 30 September 2010
included the proceeds of approximately RMB5,121 million received in relation to disposal of
the CDMA business in 2008, whereas the net cash outflow from investing activities for the nine
months ended 30 September 2009 included the income tax paid on the gain on disposal of the
CDMA business in 2008 and related professional service fees paid totaling RMB9,329 million,
offset by proceeds received of approximately RMB4,290 million from the disposal of the CDMA
business. |
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2010
China Unicom (Hong Kong) Limited (the Company) was incorporated as a limited liability
company in the Hong Kong Special Administrative Region (Hong Kong), the Peoples Republic of
China (the PRC) on 8 February 2000. The principal activities of the Company are investment
holding and the Companys subsidiaries are principally engaged in the provision of cellular
and fixed-line voice and related value-added services, broadband and other Internet-related
services, information communications technology services, and business and data communications
services in the PRC. The Company and its subsidiaries are hereinafter referred to as the
Group.
The basis of preparation and the significant accounting policies and estimates adopted in the
preparation of the unaudited condensed consolidated financial information for the nine months
ended 30 September 2010 are consistent with those used in preparing the annual financial
statements for the year ended 31 December 2009.
Going Concern Assumption
As at 30 September 2010, current liabilities of the Group exceeded current assets by
approximately RMB158.0 billion (31 December 2009: approximately RMB169.2 billion). Given the
current global economic conditions and the Groups expected capital expenditures in the
foreseeable future, management has comprehensively considered the Groups available sources of
funds as follows:
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The Groups continuous net cash inflow from operating activities; |
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Revolving banking facilities of approximately RMB105.0 billion, of which
approximately RMB86.5 billion was unutilised as at 30 September 2010; and |
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Other available sources of financing from domestic banks and other financial
institutions given the Groups credit history. |
In addition, the Group will continue to optimise its fund raising strategy from the short,
medium and long-term perspectives and will consider the opportunities in the current capital
market to take advantage of low interest rates by issuing medium to long-term debts with low
financing cost.
Based on the above considerations, the Board of Directors is of the opinion that the Group has
sufficient funds to meet its working capital requirements and debt obligations. As a result,
the unaudited condensed consolidated financial information of the Group for the nine months
ended 30 September 2010 has been prepared under the going concern basis.
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3. |
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MUTUAL INVESTMENT OF USD1 BILLION BY THE COMPANY AND TELEFÓNICA S.A. IN EACH OTHER |
On 6 September 2009, the Company entered into a subscription agreement (Subscription
Agreement) with Telefónica S.A. (Telefónica), pursuant to which each party conditionally
agreed to invest an equivalent of USD1 billion in each other through an acquisition of each
others shares. On 21 October 2009 (Completion Date), the Company and Telefónica completed
the mutual investment of the equivalent of USD1 billion in each other, which was implemented
by way of the subscription by Telefónica for 693,912,264 new shares of the Company at a price
of HKD11.17 each, satisfied by the contribution by Telefónica of 40,730,735 Telefónica
treasury shares at a price of EUR17.24 each to the Company.
At the inception of the Subscription Agreement on 6 September 2009, the Companys agreement to
undertake the mutual investment with Telefónica was treated as a derivative financial
instrument in accordance with IAS/HKAS 39 Financial instruments: Recognition and Measurement
as it represented a forward contract for the purchase of shares by the Company and Telefónica
in each other at predetermined fixed prices and different foreign currencies. The changes in
the fair value of the derivative financial instrument during the period from 6 September 2009
to 30 September 2009 resulted in a fair value gain of approximately RMB962 million, which has
been recorded as Unrealised gain on changes in fair value of derivative financial instrument
in the unaudited condensed consolidated statement of income for the nine months ended 30
September 2009.
Upon settlement of the derivative financial instrument on completion of the mutual investment
by the Company and Telefònica in each other at the Completion Date, 21 October 2009, the
derivative financial instrument was derecognised and an available-for-sale financial asset,
representing the investment in the Telefònica shares, was recognised at the then fair value of
the Telefònica shares. As at 30 September 2010 and 31 December 2009, the related
available-for-sale financial asset amounted to approximately RMB6,759 million and RMB7,789
million, respectively. For the nine months ended 30 September 2010, loss on changes in fair
value of available-for-sale financial asset amounted to approximately RMB1,030 million. The
loss, net of tax impact of approximately RMB258 million, was recorded in the unaudited
condensed consolidated statement of comprehensive income.
Basic earnings per share for the nine months ended 30 September 2010 and 2009 were computed by
dividing the profit attributable to equity holders by the weighted average number of ordinary shares outstanding during the periods.
Diluted earnings per share for the nine months ended 30 September 2010 and 2009 were computed
by dividing the profit attributable to equity holders by the weighted average number of
ordinary shares outstanding during the periods, after adjusting for the effects of dilutive
potential ordinary shares. All potential ordinary shares for the nine months ended 30
September 2010 arose from (i) share options granted under the amended Share Option Scheme; and
(ii) share options granted under the amended Special Purpose Share Option Scheme, while all
potential ordinary shares for the nine months ended 30 September 2009 arose from (i) share
options granted under the amended Pre-Global Offering Share Option Scheme, (ii) share options
granted under the amended Share Option Scheme; (iii) share options granted under the amended
Special Purpose Share Option Scheme, and (iv) shares to be issued to Telefónica under the
Subscription Agreement.
The potential ordinary shares which are not dilutive for the nine months ended 30 September
2010 arose from share options with exercise price of HKD15.42 granted under the amended Share
Option Scheme, while the potential ordinary shares which are not dilutive for the nine months
ended 30 September 2009 arose from (i) share options with exercise price of HKD15.42 granted
under the amended Pre-Global Offering Share Option Scheme and amended Share Option Scheme, and
(ii) shares to be issued to Telefónica under the Subscription Agreement, which were excluded
from the weighted average number of ordinary shares for the purpose of computation of diluted
earnings per share.
The following table sets forth the computation of basic and diluted earnings per share:
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Nine months ended |
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30 September |
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2010 |
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2009 |
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Numerator (in RMB millions): |
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Profit attributable to equity holders of the Company |
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3,268 |
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9,338 |
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Denominator (in millions): |
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Weighted average number of ordinary shares
outstanding used in computing basic earnings per
share |
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23,562 |
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23,768 |
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Dilutive equivalent shares arising from share options |
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134 |
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120 |
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Shares used in computing diluted earnings per share |
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23,696 |
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23,888 |
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Basic earnings per share (in RMB) |
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0.14 |
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0.39 |
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Diluted earnings per share (in RMB) |
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0.14 |
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0.39 |
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5. |
|
EVENTS AFTER BALANCE SHEET DATE |
Issue of USD1,838,800,000 0.75% guaranteed convertible bonds due 2015
On 28 September 2010, the Company (as guarantor) entered into a subscription agreement (the
Subscription Agreement), pursuant to which 0.75 per cent guaranteed convertible bonds due
2015 (the Convertible Bonds) will be issued by bond issuer exchangeable into ordinary shares
of the Company for an aggregate principal amount of USD1,838,800,000. Upon fulfillment of all
conditions precedent under the Subscription Agreement, the issue of the Convertible Bonds was
completed on 18 October 2010. For details, please refer to the section headed ISSUE OF
CONVERTIBLE BONDS in this announcement.
FINANCIAL OUTLINE
For the first three quarters of 2010, the Company demonstrated a steady growth in its overall
revenue by further accelerating its business development, and enhancing its network services
and network support capability continuously, achieving a sustainable faster growth in mobile
business and a rapid growth in broadband business and better controlling the decline in
fixed-line business.
Revenue
For the first three quarters of 2010, total revenue reached RMB125.11 billion, of which,
telecommunications service revenue was RMB120.65 billion. Excluding the effects of deferred
fixed-line upfront connection fees, total revenue and telecommunications service revenue would
increase by 9.1% and 7.7%, respectively, as compared to the same period of last year.
Revenue from mobile business (Note 1) was RMB63.59 billion, up by 20.0% from the same period
of last year, of which, telecommunications service revenue from mobile business was RMB60.52
billion, up by 16.8% from the same period of last year. Monthly average minutes of usage
(MOU) per subscriber was 276.0 minutes, and monthly average revenue per user (ARPU) was
RMB43.5. Of which, telecommunications service revenue from 3G business was RMB7.34 billion,
MOU per subscriber was 641.6 minutes and ARPU was RMB129.8.
Revenue from the fixed-line business (Note 1) was RMB60.14 billion, of which,
telecommunications service revenue from the fixed-line business was RMB59.42 billion.
Excluding the effects of deferred fixed-line upfront connection fees, revenue and
telecommunications services revenue from the fixed-line business would decrease by 1.9% and
1.0%, respectively, from the same period of last year. Telecommunications service revenue from
broadband business was RMB22.09 billion, up by 22.3% from the same period of last year. ARPU
of broadband business was RMB57.8.
Costs and Expenses and Others
For the first three quarters of 2010, total costs and expenses and others, including finance
costs, interest income, the unrealised gain on the changes in fair value of derivative
financial instrument, and other income-net, were RMB120.86 billion, up by 17.7% from the same
period of last year. With the further expansion of network capacity and rapid development of
core businesses such as 3G and broadband businesses, depreciation and amortization, networks,
operations and support expenses, selling expenses and 3G handset subsidies increased faster.
Depreciation and amortisation was RMB40.54 billion, increased by RMB5.37 billion or 15.3% from
the same period of last year. Networks, operations and support expenses were RMB19.34 billion,
increased by RMB2.19 billion or 12.7% from the same period of last year. Selling expenses were
RMB17.11 billion, increased by RMB2.23 billion or 15.0% from the same period of last year.
Handset subsidies relating to 3G business amounted to RMB2.99 billion, of which, the subsidies
for the third quarter was RMB1.82 billion, has been recorded in the consolidated statement of
income for the first three quarters of 2010.
Earnings
For the first three quarters of 2010, profit before income tax was RMB4.25 billion and profit
for the period was RMB3.27 billion. Basic earnings per share was RMB0.139. Adjusted profit for
the period (Note 2) would be RMB3.10 billion, down by 62.3% as compared to the same period of
last year. Adjusted EBITDA (Note 3) would be RMB45.37 billion, down by 1.8% as compared to the
same period of last year. Adjusted EBITDA margin (adjusted EBITDA as a percentage of the total
revenue) would be 36.3%.
Additional Information
Although revenue from the 3G business and fixed-line broadband business of the Company have
been growing fast, the Company ´s earnings for 2010 may be substantially different from the
earnings for 2009 due to the fast-increasing of depreciation and amortisation, networks,
operations and support expenses, as well as selling expenses, particularly the 3G handset
subsidies.
This announcement is also made pursuant to Rule 13.09 of the Listing Rules.
Note 1: |
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Revenue from mobile business and the fixed-line business represents revenues
from external customers, excluding intersegment revenue. |
|
Note 2: |
|
Adjusted profit for the period represents profit for the period excluding the
effects of deferred fixed-line upfront connection fees of RMB0.17 billion and RMB0.4
billion for the first three quarters of 2010 and 2009, respectively, and the unrealised
gain on the changes in fair value of derivative financial instrument of RMB0.96 billion
for the first three quarters of 2009. |
|
Note 3: |
|
Adjusted EBITDA represents profit for the period (excluding the effects of
deferred fixed-line upfront connection fees of RMB0.17 billion and RMB0.4 billion for the
first three quarters of 2010 and 2009, respectively, and the unrealised gain on the
changes in fair value of derivative financial instrument of RMB0.96 billion for the first
three quarters of 2009) before interest income, finance costs, other income-net, income
tax, depreciation and amortisation. As the telecommunications business is a capital
intensive industry, capital expenditures and finance costs may have a significant impact
on the net profit of the companies with similar operating results. Therefore, the Company
believes that EBITDA may be helpful in analyzing the operating results of a
telecommunications service operator like our Group. |
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Although EBITDA has been widely applied in the global telecommunications industry
as an indicator to reflect operating performance, financial capability and
liquidity, it should be considered in addition to, and is not substitute for or
superior to, the measure of financial performance prepared under generally accepted
accounting principles (GAAP) as it does not have any standardised meaning under
GAAP. In addition, it may not be comparable to similar indicators provided by other
companies. |
ISSUE OF CONVERTIBLE BONDS
On 28 September 2010, the Company (as guarantor) entered into a subscription agreement (the
Subscription Agreement) with Billion Express Investments Limited, a subsidiary of the Company
(the Bond Issuer), and with China International Capital Corporation Hong Kong Securities Limited,
Goldman Sachs (Asia) L.L.C. and Nomura International (Hong Kong) Limited (the Joint Lead
Managers). Pursuant to the Subscription Agreement, the Joint Lead Managers have agreed to
subscribe and pay for or to procure subscribers to subscribe and pay for 0.75 per cent guaranteed
convertible bonds due 2015 issued by the Bond Issuer exchangeable into ordinary shares of the
Company for an aggregate principal amount of USD1,838,800,000 (the Convertible Bonds).
The transactions under the Subscription Agreement and the issue of the Convertible Bonds will
provide strong capital support for the development of the Companys key business, such as 3G and
broadband business, enhance the Companys market presence and competitiveness, and strengthen the
Companys capital basis effectively after full conversion of the Convertible Bonds.
Completion of the issue of the Convertible Bonds took place on 18 October 2010 and the Convertible
Bonds in registered form in the aggregate principal amount of USD1,838,800,000 have been created
and issued in favour of the purchasers of the Convertible Bonds in accordance with the terms of the
Subscription Agreement. Approval has been granted by The Stock Exchange of Hong Kong Limited for
the listing of and permission to deal in the Convertible Bonds with effect from 19 October 2010.
CAUTION STATEMENT
The Board wishes to remind investors that the unaudited financial information and the financial
outline for the nine months ended 30 September 2010 are based on the Groups internal records and
management accounts and have not been reviewed or audited by the auditors. The financial
information for the nine months ended 30 September 2009 are extracted from the unaudited financial
information of the Group and the financial information for the year ended 31 December 2009 are
extracted from the audited financial statements as contained in the 2009 Annual Report.
Investors are cautioned not to unduly rely on financial data, statistics and comparison for the
nine months ended 30 September 2010. In the meantime, investors are advised to exercise caution in
dealing in the shares of the Company.
As at the date of this announcement, the board of directors of the Company comprises:
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|
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Executive directors:
|
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Chang Xiaobing, Lu Yimin, Zuo Xunsheng and Tong Jilu |
Non-executive director:
|
|
Cesareo Alierta Izuel |
Independent non-executive directors:
|
|
Cheung Wing Lam Linus, Wong Wai Ming,
John Lawson Thornton, Timpson Chung Shui
Ming and Cai Hongbin |
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By Order of the Board of
China Unicom (Hong Kong) Limited
Chu Ka Yee
Company Secretary
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Hong Kong, 29 October 2010