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To: Ibexx who wrote (104546)	9/12/2001 11:47:34 PM
From: S100	Respond to of 152472

China Unicom misses earnings forecasts By China Online News (12 September 2001) China Unicom Ltd. Reported this week that while its first-half profit missed market expectations and its per-user mobile revenue shrank, its first-half earnings surged to 2.19 billion yuan (US$264 million). Analysts had expected China Unicom to report earnings of 2.25 billion yuan. The company’s year ago profit was 171 million yuan, cut down by a 1.19 billion yuan. China Unicom posted an overall 30 percent increase in revenue to 13.62 billion. In addition to its mobile operations, the company also has fixed-line and paging units. The company reported that its average revenue per mobile user plunged to 92.5 yuan per month (US$11.17), or a drop of nearly 33 percent. Analysts had predicted the drop because of the broad penetration of the cellular market and because of heightened competition from China Mobile Ltd. Shares in China Unicom fell 9.89 percent in Hong Kong on Monday following the terror attacks in the United States. China Unicom claims a market share of 26 percent. It says it has 21 million cellular customers. Its rival, China Mobile, says it has more than 60 million mobile users. Analysts have expressed concern that both firms might sacrifice profits to achieve the government’s high goals for user growth. chinaonline.com