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Public company info - SmarTone Telecommunications Holdings Ltd. , 00315.HK

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SmarTone Telecommunications Holdings Ltd., 00315.HK - Company Profile
Chairman Raymond Kwok Ping-luen
Share Issued (share) 1,121,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Telecomm. Services
Corporate Profile Business Summary: SmarTone Telecommunications Holdings Limited (the “Company”) and its subsidiaries (together, the “Group”) is principally engaged in the provision of telecommunications services and the sale of handsets and accessories in Hong Kong and Macau. Performance for the year: The Group’s service revenue fell by $311 million or 6% to $5,160 million (2015/16: $5,471 million). Net profit declined 16% to $672 million. Business Review: Group service revenue was $5,160 million, a drop of 6% over the previous year, due to increased migration from handset-bundled plans to SIM Only plans, weakness in the prepaid segment and a decline in voice roaming revenues. However, net of handset subsidy amortisation, the underlying postpaid service revenue has shown resilience and remained unchanged from the prior year. Local mobile postpaid service revenue net of handset subsidy amortisation has increased by 2%, reflecting the strength of the core local mobile business. SmarTone increased its Hong Kong customer number by 4% to 2.06 million. This was driven by a number of measures, including a focus on customer acquisition through segmented offerings and retention through loyalty initiatives. The Company has continued to invest in branding and marketing to grow its customer base. During the reporting period, churn rate was 1.0% and mobile postpaid ARPU was $285. The Company has continued to focus on operational efficiency and OPEX remained stable while CAPEX fell by 14%. During the year under review, SmarTone reinforced its network superiority and technological leadership with the aim of providing the best customer experience in Hong Kong. At the same time, the Company has remained agile to changing customer needs and has developed platforms to enhance customer engagement across a number of digital touchpoints. These include the company website, 24/7 Live Chat, online store and the SmarTone CARE app. SmarTone strengthened its position as a technology leader through the well-received “Powerful Network” campaign to highlight superior network performance, particularly along the MTR lines. SmarTone continued to invest in expanding capacity and delivering superior network performance to support the growing customer demand for data services. As part of its ongoing investment in 4.5G / 5G technologies, the Company has made substantial progress in the implementation of quad-band Carrier Aggregation, 256QAM and 4X4 MIMO. These upgrades will further enhance overall network performance and customer experience. In addition, SmarTone became the first mobile operator in Hong Kong to successfully complete the LAA trial, an innovative technology combining licensed and unlicensed spectrum to uplift LTE data speed. The Company is also in the process of modernising its core network, an important step to support the network evolution from 4.5G to 5G. Prospects: The challenging operating environment is expected to continue. A number of factors, including higher spectrum costs, declining voice roaming revenues, lower handset profits and severe competitive pressure will weigh on profitability. SmarTone is taking proactive steps to mitigate the impact of these factors. The Company’s priority is to improve productivity throughout the business while maintaining investments to deliver the best network experience. The Company also aims to accelerate growth of new revenue sources, such as the ICT (Information, Communications & Technology) business, internet of things (IoT), artificial intelligence (AI) and machine-to-machine (M2M) applications. As part of its customer-centric strategy, SmarTone will continue to deepen its segmented offerings and invest in a number of new digital platforms and services that better suit customers’ increasingly digital lifestyle. SmarTone welcomes the Government’s move to clarify the spectrum supply roadmap. It is critical for the industry to have sufficient supply of spectrum at a reasonable price to spur innovation and the adoption of services enabled by new technologies & 5G. This is essential to Hong Kong’s position as a competitive and global economy. The Board is confident that the Company is taking the necessary steps to navigate the current industry environment, while also building the revenue streams that will deliver growth and long-term value to shareholders.

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