China Tower Officially Listed! Speech by Chairman of China Tower: Listing Is a New Milestone

At 9 a.m. on August 8, China Tower will be officially listed and traded on the main board of the Hong Kong Stock Exchange (stock code 0788), becoming the world's largest IPO this year.

The H shares of China Tower are priced at HK $1.26 per share, issuing a total of 43.115 billion shares (before exercising the over allotment option), accounting for 25.0% of the total share capital of the company after the issuance, raising about HK $54.3 billion, equivalent to about US $6.92 billion, becoming the world's largest IPO (initial public offering) this year.

At present, China Tower has introduced cornerstone investors including Taobao China and PetroChina, who have subscribed for 622 million shares respectively; In addition, it also includes cornerstone investors such as Hillhouse fund, oz fund, Darsana master Fund LP, invus public equities, L.P., Beijing Haidian state owned assets, ICBC wealth management, Hualong (Hong Kong) and SAIC Hong Kong, all of which have subscribed for about US $1423.5 billion in shares.

At present, China's iron towers manage about 1.9 million iron towers in the country, accounting for more than 96% of the market share. They have become the No. 1 in the global iron tower industry, and their dominant position in the industry can not be shaken.

Statistics show that China Tower was established in 2014, which is the product of the implementation of telecom reform by the state following the experience of foreign communication facilities co construction and sharing. It was initiated and established by the joint injection of stock tower related assets by the three operators of China Mobile, China Unicom and China Telecom. In 2015, a new shareholder, China new, was introduced. At present, China Mobile holds 38%, China Unicom 28.1%, China Telecom 27.9% and China Guoxin 6%.

According to the Sullivan report, as of 2017, the market share of China's Tower in China's communication tower infrastructure market was 96.3%. In terms of revenue, the market share is 97.3%. The prospectus also shows that at present, tower business is still the main source of income for China's iron towers, with an income of 67 billion yuan in 2017, accounting for 97.69% of the total revenue.

The three major shareholders of China Tower are also its main customers. Among them, China Mobile is currently its largest customer, with revenue accounting for 53.6%, China Unicom 23.7%, China Telecom 22.5% and other customers only 0.2% in 2017.

Xiang Ligang, a senior analyst in the telecommunications industry, said that the original national integration of the three operators' tower business to achieve sharing was to reduce investment in tower construction and reduce costs. For the tower company, the basic business is very stable. There are three operators behind it. The income is guaranteed, the return is relatively stable, the risk is relatively low, but there will be no explosive growth. For the next 5g development, it is expected that there will be a relatively large-scale base station construction in 2019, which has a certain industrial development opportunity for China's iron tower.

Tong Jilu, chairman of China iron tower, said in his speech that China iron tower is both a growth and value creation company. Listing is a new milestone. We are looking forward to the future. The focus of shareholders is our focus, and the expectation of shareholders is our responsibility and goal.

Speech by Chairman of China Tower: listing is a new milestone

Attached is an open letter from Tong Jilu, chairman of the iron tower, to all employees

Dear colleagues

On August 8, 0788, history overlaps this group of similar lucky numbers by great coincidence. Tomorrow, we will witness another exciting moment in the development of the company - the company will be officially listed and traded on the main board of the Hong Kong stock exchange, becoming the world's largest IPO this year. As a young enterprise that has just been established for four years and has been officially operating for less than three years, we have created a miracle of global IPO by realizing such a large-scale listing in such a short time and such a special market environment.

In one's life, I would like to have some unforgettable stories that are worth cherishing and remembering. Looking back on the company's four-year history, we went through hardships and helped each other. Along the way, we personally wrote this entrepreneurial growth story of China's iron tower. I believe that we will bear it in mind and become an unforgettable memory in the course of life.

Four years. Four years are vivid. In front of my eyes, I often see unforgettable pictures: it was everyone in the early stage of entrepreneurship, working attentively around the simple canteen table and table tennis table; It was everyone who checked the assets, trudging hard in the snow; It was everyone who reached the "three sex standards". They were busy with their children in front of the computer at 4 a.m; That's everyone in disaster relief and rescue, walking in the torrent without chest

Four years of beacon like song, four years of forge ahead, China Tower, wonderful because of you! It is you who have made today's China Tower with sweat, wisdom and dedication!

Here, on behalf of the board of directors and management of the company, I would like to pay high tribute to all employees and express my heartfelt thanks to your families through you!

I would also like to express my heartfelt thanks to Chairman Liu Aili, director Sun Kangmin, director Shao Guanglu, director Mo Dewang and other members of the first session of the board of directors and Chairman Zhang Jiping, chairman Ke Ruiwen and other members of the first session of the board of supervisors. All directors and supervisors from different units have made selfless contributions to the development of the company over the past three years. In particular, chairman Aili has made great efforts and outstanding contributions to the development of the company.

"The mighty pass is like iron, and now we are starting from scratch." listing is a new starting point for the company and opens a new stage and journey for the company's development. For the young Chinese iron tower, in a sense, it is more like a "adult ceremony" of walking steadily and reaching maturity.

Listing means that the company has stepped into the fast lane of the capital market, climbed high and looked far, connected with international standards, learned from excellence, the company's strategic objectives and development ideas are clearer, the development power is more sufficient, and the corporate image and status have been unprecedentedly improved.

Listing makes the company a global public enterprise, expands the shareholder base, effectively improves the governance structure and makes the system and mechanism more dynamic.

But we also know that a higher starting point also means more responsibility and dedication. We still have to never slacken and struggle; We still need to be realistic and strive for self-improvement.

We should continue to strive to maximize shareholder value, based on being a growth and value creation enterprise, accelerate the pace of development, continuously improve value, and repay shareholders' recognition and expectations with better performance.

We should continue to strive to benefit customers, comprehensively deepen transformation and upgrading, win customer recognition with low cost, high efficiency and excellent service, fulfill social responsibilities and establish a good image.

We should continue to make efforts to rely on employees, trust employees and achieve employees, strive to protect employees' entrepreneurial passion, strengthen employees' sense of ownership and responsibility, let employees grow together with the development of the enterprise, share the achievements of reform and the dividends of development.

Facing the future and building a dream tower, we should realize new development from a new starting point, create new achievements in the new stage, and reflect new responsibilities in the new journey. Let's continue our efforts, carry forward the past and forge ahead into the future, and strive to create a better tomorrow for China's iron tower!

Tong Jilu

August 7, 2018

China Tower Officially Listed! Speech by Chairman of China Tower: Listing Is a New Milestone 1

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