China Telecom Corporation Limited
(A joint stock limited company incorporated in the People's Republic of China with limited liability)

[For Immediate Release]

China Telecom Fully Implements "Cloudification and Digital Transformation" Strategy, Promotes High-Quality Development and Propels Digital Economy

Currently, the integration and innovation of multiple technologies further drives industrial transformation, and the digital economy has become an important engine for the national economic development. China Telecom seizes strategic opportunities, fully implements its "Cloudification and Digital Transformation" strategy, steps up sci-tech innovations, deepens the cloud-network integration and accelerates its development as a service-oriented, technology-oriented and secured enterprise. Focusing on customers' demand for digital life, the Company insists on the individual informatisation upgrade led by 5G, continuously enriches 5G applications; accelerates the expansion of Gigabit products at scale, further promotes the integrated development of Smart Family, Smart Community and Digital Village; and pushes forward the digitalisation and intelligentisation upgrade of vertical industries.

The Company attaches great importance to shareholder returns and investor interests, with RMB 26,537,070,222.71 (including tax) full year dividend for 2021 and interim dividend for 2022 having been distributed in cash in the first three quarters of 2022, representing an increase of 214.5% over the same period of 2021, reaching 60% of net profit attributable to equity holders during respective reporting periods.

In the future, the Company will continue to fully implement "Cloudification and Digital Transformation" strategy, drive the continuous implementation of cloud-network integration 3.0, leverage the integration of cloud, security, AI and digital platform to expedite the nurturing and development of strategic emerging businesses such as cloud, security, Big Data and AI,deepen sci-tech innovations to enhance the core competitiveness of the company, and share its achievements from high-quality development with shareholders, customers and the society.

Source: China Telecom Corporation Limited
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