China Unicom (Hong Kong) Ltd

00762: XHKG (HKG)

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China Unicom Earnings: Underlying Industry Declines, Labor Expense Shuffling Exacerbated by VAT Hike

Dan Baker

Aug 25, 2026

China Unicom's second-quarter service revenue rose 0.5%, but value-added tax increases and a 19% lift in employee expenses due to spending timing changes drove down EBITDA by 18% and net profit by 46%. Management said "the full-year contraction in profit is expected to narrow significantly."

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China Unicom (Hong Kong) Ltd

China Unicom Earnings: Underlying Industry Declines, Labor Expense Shuffling Exacerbated by VAT Hike

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