中国电信China Telecom Corp Ltd (CHA) 2006年年度报告「NYSE」.pdf

1、Annual Report 2006China Telecom Corporation LimitedHKEx Stock code:728NYSE Stock code:CHAReady for next MOVES 蓄勢待發 開拓未來Our MindWe strive to understand what ourcustomers want and innovate services todelight them,making their life easier,simpler,richer and more productive.We aimto provide our services

2、 in an efficient wayleveraging our unique rich resources andinfrastructure.We firmly believe that whenwe continue to progress our way to fullservices convergence offering,our customersvalue will be further enhanced,with oursuccess and shareholder value to follow.CONTENTSFinancial HighlightsCorporate

3、 InformationChairmans StatementBusiness ReviewManagements Discussion and Analysis ofFinancial Conditions and Results of OperationsDirectors,Supervisors and Senior ManagementReport of the DirectorsReport of the Supervisory CommitteeCorporate Governance ReportHuman Resources DevelopmentCorporate Socia

4、l ResponsibilityNotice of Annual General MeetingReport of the Independent International AuditorConsolidated Balance SheetBalance SheetConsolidated Income StatementConsolidated Statement of Changes in EquityConsolidated Cash Flow StatementNotes to the Financial StatementsSupplementary Information for

5、American Depositary ShareholdersFinancial SummaryShareholder Information24612223040515468747783858788899092140144146ANNUAL REPORT 2006 CHINA TELECOM CORPORATION LIMITED002Financial HighlightsExcluding amortisation of upfront connection fees200420052006Rate of change(2006 over 2005)Operating revenue(

6、RMB millions)152,754162,529170,1224.7%EBITDA (RMB millions)78,54281,82584,9113.8%EBITDA margin51.4%50.3%49.9%-0.4p.p.Net profit1(RMB millions)19,56521,13122,1714.9%Capital expenditure(RMB millions)56,30753,86449,085-8.9%Free cash flow(RMB millions)17,04821,80129,07233.4%Total debt/Total equity294.5%