China Tower Corporation Limited (China Tower) reported steady top-line growth and a sharp jump in profitability for the three months ended 31 March 2026, underpinned by rapid expansion of its Smart Tower and Energy segments (collectively the “Two Wings” business).

Operating performance • Operating revenue edged up 1.5% year on year (YoY) to RMB 25.15 billion, despite a modest 0.6% slip in Telecom Service Provider (TSP) revenue to RMB 21.09 billion. • Within TSP, Tower revenue declined 1.7% to RMB 18.56 billion, while indoor distributed antenna system (DAS) revenue increased 7.8% to RMB 2.53 billion. • Two-Wing businesses continued to outpace the core tower segment: – Smart Tower revenue rose 14.3% YoY to RMB 2.64 billion. – Energy revenue grew 14.1% YoY to RMB 1.31 billion. The Two Wings contributed 15.7% of total revenue, up from 14.0% a year earlier.

Earnings and margins • EBITDA amounted to RMB 15.37 billion, translating into an EBITDA margin of 61.1%; however, EBITDA contracted 11.2% YoY, reflecting cost dynamics after last year’s one-off gains. • Profit before tax climbed 32.2% to RMB 5.30 billion. • Profit attributable to owners of the Company surged 31.8% to RMB 3.99 billion, driven by improved cost efficiency and higher-margin Two Wing contributions.

Balance-sheet snapshot As at 31 March 2026, total assets stood at RMB 343.61 billion, up from RMB 336.58 billion at end-2025. Total liabilities increased to RMB 135.72 billion, while total equity reached RMB 207.90 billion.

Operational metrics • Tower sites numbered 2.160 million, adding 11,000 sites since end-2025. • Tower tenants rose by 16,000 to 3.872 million, maintaining an average tenancy ratio of 1.79 tenants per site.

Strategic focus Management reiterated commitment to the “One Core and Two Wings” strategy. Key 2026 priorities include leveraging 5G-A rollout, expanding low-altitude economy and edge-computing solutions, and scaling green energy storage services to sustain high-quality growth across both core TSP and emerging business lines.