China Unicom Net Profit Rises 21.2% in Q1

Signs of China Telecom, China Mobile and China Unicom are seen during the China International Import Expo (CIIE) at the National Exhibition and Convention Center in Shanghai, on Nov 5, 2018. [Photo/Agencies]

China Unicom, one of the country's leading telecom giants, reported a 21.2-percent surge in net profit in the first quarter amid efforts to push digital transformation and high-quality growth.

Net profit attributable to the parent company exceeded 1.69 billion yuan (about $260.7 million), it said in a statement filed with the Shanghai Stock Exchange.

Business revenues rose 8.2 percent to 73.92 billion yuan in the reporting period, it said.

The company's 5G users increased by 21.02 million in Q1, bringing the total number to 91.85 million.

The company has put in place 5G network coverage in all Chinese cities, said the statement.