China Credit Brief
Auto-generated brief — free tier. This page was rendered mechanically from the company’s official filings; no analyst and no LLM wrote any part of it. Narrative commentary is premium-tier content and is not included in this build, and the page states explicitly wherever a data source is absent instead of implying a clean result. Every figure is traceable to its source page (§9). Not investment advice. Not a credit rating.

Credit Brief — China Telecom Corporation Limited (中国电信)

601728.SH · Shanghai Main Board · Data window: 2022–2026 H1 · Sources: official periodic reports filed via cninfo (巨潮资讯网)

All figures are extracted mechanically from official filings and are traceable to source page (see §9). Narrative sections are analyst commentary; mechanical sections are produced without any LLM. Not investment advice. Not a credit rating.

1. Identity & legitimacy

Source: identity fields above are mechanically extracted from the issuer's own filed annual reports. - Registration data via corporate registry is not included in this build

Compliance screens (dishonest debtor / enforcement / penalties / business exceptions) require a registry data source not included in this build

3. Business profile

Top customer/supplier tables not generated for this issuer.

4. Financial dashboard (CNY mn)

Assets

2022 2023 2024 2025 2026 H1
Cash and bank balances 76,299.8 91,850.8 102,008.9 99,806.5 64,895.1
Trading financial assets — — 0.0 11,709.3 33,372.3
Accounts receivable 24,019.0 30,754.6 39,648.3 50,165.3 70,684.6
Other receivables 4,943.3 6,724.0 9,687.9 8,918.5 9,008.8
Inventories 3,513.1 3,417.0 3,267.0 3,431.2 4,118.7
Long-term equity investments 42,219.5 43,157.9 44,177.0 45,279.9 47,093.9
Fixed assets 413,405.5 409,455.3 426,647.4 415,710.2 392,959.9
Construction in progress 58,442.5 72,238.3 58,800.6 56,481.1 69,540.9
Intangible assets 42,238.9 45,358.3 47,678.4 49,710.2 47,179.7
Total assets 807,698.2 835,813.9 866,625.2 870,643.6 884,719.5

Liabilities

2022 2023 2024 2025 2026 H1
Short-term borrowings 2,839.6 2,866.5 2,834.7 2,448.4 1,677.0
Notes payable 2,704.3 7,593.8 15,206.3 9,525.0 14,344.9
Accounts payable 124,556.0 138,278.3 145,343.8 140,179.2 142,111.4
Contract liabilities 67,840.7 65,416.6 65,185.4 67,112.8 60,205.3
Other payables 40,509.4 48,224.5 46,663.1 51,043.9 45,463.3
Current portion of non-current liabilities 17,665.1 14,547.8 15,737.6 16,067.8 21,902.0
Long-term borrowings 4,484.2 5,141.7 7,458.7 6,109.2 5,557.1
Total liabilities 371,270.6 388,647.1 410,073.4 402,384.3 405,315.8

Equity

2022 2023 2024 2025 2026 H1
Paid-in capital 91,507.1 91,507.1 91,507.1 91,507.1 91,507.1
Capital reserve 69,394.0 69,406.3 69,592.1 69,997.4 70,449.6
Retained earnings 186,400.3 193,720.5 199,769.5 204,651.9 215,930.8
Equity attributable to owners of the parent 432,089.3 442,926.2 452,389.7 460,827.7 471,882.6
Minority interests 4,338.3 4,240.6 4,162.1 7,431.6 7,521.1
Total equity 436,427.5 447,166.8 456,551.8 468,259.3 479,403.6

Income statement

2022 2023 2024 2025 2026 H1
Revenue 474,967.2 507,842.7 523,568.9 523,924.7 259,010.3
Cost of sales 339,939.7 361,422.2 373,498.4 371,561.6 181,921.5
Selling expenses 53,803.3 56,116.8 55,481.8 53,896.8 25,279.4
Administrative expenses 33,578.0 35,715.2 37,126.5 36,412.7 17,522.0
Finance costs 7.3 332.4 227.9 388.5 93.3
Investment income 2,264.5 2,374.5 2,625.6 2,982.7 2,009.0
Operating profit 41,303.8 42,569.1 42,597.2 45,855.3 25,892.8
Profit before tax 35,714.2 39,204.5 42,172.3 42,680.2 25,763.2
Net profit 27,676.4 30,428.4 32,975.0 33,222.8 19,484.9

5. Ratios

Ratio 2022 2023 2024 2025 2026 H1
Current ratio 0.51x 0.56x 0.58x 0.64x 0.66x
Quick ratio 0.50x 0.55x 0.57x 0.63x 0.65x
Debt-to-asset ratio 46.0% 46.5% 47.3% 46.2% 45.8%
Total debt / EBITDA 0.36x 0.31x 0.34x 0.32x 0.52x
EBITDA interest coverage 36.49x 28.55x 32.13x 37.16x 66.38x
Gross margin 28.4% 28.8% 28.7% 29.1% 29.8%
Net margin 5.8% 6.0% 6.3% 6.3% 7.5%
Return on equity (ROE) 6.3% 6.8% 7.2% 7.1% 4.1%
Revenue growth — 6.9% 3.1% 0.1% -50.6%
Net profit growth — 9.9% 8.4% 0.8% -41.4%
Receivable days 18 22 28 35 100
Operating CF / net profit 4.96x 4.56x 4.41x 3.75x 3.10x
Free cash flow 137,219.0 138,623.1 145,268.1 124,518.9 60,375.2

Mechanical risk flags

6. Cross-check flags (mechanical reconciliation)

5 check(s) not run for missing inputs: 前五大应收 vs BS 应收账款; 前五大其他应收 vs BS 其他应收款; 前五大预付 vs BS 预付款项; 现金及现金等价物净增加额 vs 货币资金变动; 授信表内总合计 vs Σ机构行.

Premium tier. The analyst red-flag review and the industry-context commentary (sections 7–8 of the full brief) are not included in this free build. Join the waitlist for early access.

9. Method & provenance

All financial figures above were extracted mechanically from the company's official periodic reports (unit-normalized to CNY). Each key figure carries cell-level provenance — source file, page and original line item. Samples (latest annual period):

Item Period Value (CNY mn) Source file Page Raw line item Raw value (as filed)
Cash and bank balances 2025 99,806.5 2025年年度报告.pdf 85 货币资金 99806451207.12 (元)
Total assets 2025 870,643.6 2025年年度报告.pdf 85 资产总计 870643642518.74 (元)
Accounts receivable 2025 50,165.3 2025年年度报告.pdf 85 应收账款 50165259624.83 (元)
Fixed assets 2025 415,710.2 2025年年度报告.pdf 85 固定资产 415710175632.7 (元)
Short-term borrowings 2025 2,448.4 2025年年度报告.pdf 86 短期借款 2448392283.09 (元)

This brief is built solely on officially filed public disclosures. It is not investment advice, not a credit rating, and not an offer of any service. Figures may contain extraction or caliber effects; verify against the original filings before relying on them.