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CHINA UNICOM (HONG KONG) LIMITED

CHINA UNICOM (HONG KONG) LIMITED . 75th Floor, The Center, 99 Queen's Road Central, Hong Kong Tel : (852) 2126 2018 Fax : (852) 2126 2016. Design, Printing & Production : Solomon Financial Press LIMITED AGIL E VI B R. I N NOV A T I. RA NT NG. IVE ST R O. Contents 02. Company Profile 03. Shareholding Structure 04. Forward-looking statements Certain statements contained in this report may be viewed as forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Performance Highlights Such forward-looking statements are subject to known and unknown risks, uncertainties and other 06. factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements.

SHAREHOLDING STRUCTURE SHAREHOLDING STRUCTURE ANNUAL REPORT 201 7 3 (Updated on 31 December 2017) * The shares of China United Network Communications Limited held by strategic investors

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Transcription of CHINA UNICOM (HONG KONG) LIMITED

1 CHINA UNICOM (HONG KONG) LIMITED . 75th Floor, The Center, 99 Queen's Road Central, Hong Kong Tel : (852) 2126 2018 Fax : (852) 2126 2016. Design, Printing & Production : Solomon Financial Press LIMITED AGIL E VI B R. I N NOV A T I. RA NT NG. IVE ST R O. Contents 02. Company Profile 03. Shareholding Structure 04. Forward-looking statements Certain statements contained in this report may be viewed as forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Performance Highlights Such forward-looking statements are subject to known and unknown risks, uncertainties and other 06. factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements.

2 In addition, we do not intend to Major Events update these forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's 10. most recent Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Chairman's Statement 18. Business Overview 42. Corporate Governance Report 26. Financial Overview 67. Corporate Culture 90. Human Resources Development 32. Directors and Senior Management 70. Report of the Directors 92. Social Responsibility 98 Independent Auditor's Report 104 Consolidated Statement of Income 40. 105 Consolidated Statement of Comprehensive Income 106 Consolidated Statement of Financial Position 108 Consolidated Statement of Changes in Equity 109 Consolidated Statement of Cash Flows 111 Notes to the Consolidated Financial Statements 188 Financial Summary 190 Corporate Information Recognition & Awards Company Profile CHINA UNICOM (Hong Kong) LIMITED (the Company ) was incorporated in Hong Kong in February 2000 and was listed on the New York Stock Exchange and The Stock Exchange of Hong Kong LIMITED on 21 June 2000 and 22 June 2000 respectively.

3 On 1 June 2001, the Company was included as a constituent stock of the Hang Seng Index. The Company merged with CHINA Netcom Group Corporation (Hong Kong) LIMITED on 15 October 2008. The Company was one of the Fortune Global 500 companies for consecutive years, and ranked 241st in Fortune Global 500 for the year 2017 . It was also voted as Asia's Most Honored Telecom Company for second consecutive year by Institutional Investor. The Company is committed to being a creator of smart living trusted by customers, connecting the world to innovate and share a good smart living, improving the quality of products and services continuously to fulfill customer needs. Future products and services will be developed in a smart way. Internet of Things, cloud computing, Big Data and other technologies will be used for the smart processing on data and information.

4 The Company's telecommunication network covers CHINA and connects to the world. It provides full range and high quality information and telecommunication services, including mobile broadband (WCDMA, LTE FDD, TD-LTE), fixed-line broadband, GSM, fixed-line local access, ICT, data communications and other related value-added services. As at the end of 2017 , the Company had mobile billing subscribers of about 284 million, in which 4G. subscribers of about 175 million, fixed-line broadband subscribers of about 77 million, and fixed-line local access subscribers of about 60 million. As at 31 December 2017 , the ultimate parent company of the Company, CHINA United Network Communications Group Company LIMITED had an effective interest of of the shares in the Company through CHINA United Network Communications LIMITED ( A Share Company ), CHINA UNICOM (BVI) LIMITED and CHINA UNICOM Group Corporation (BVI) LIMITED ; the strategic investors and the public shareholders of A Share Company had an effective interest of of the shares in the Company through A Share Company's shareholding in CHINA UNICOM (BVI) LIMITED .

5 The remaining of the shares in the Company were beneficially owned by public shareholders. 2 COMPANY PROFILE CHINA UNICOM (HONG KONG) LIMITED . Shareholding Structure CHINA UNITED NETWORK Strategic Other Public COMMUNICATIONS GROUP Investors Shareholders COMPANY LIMITED . * 100% CHINA UNITED NETWORK. COMMUNICATIONS LIMITED . CHINA UNICOM Group Corporation CHINA UNICOM Public (BVI) LIMITED (BVI) LIMITED Shareholders ** CHINA UNICOM . ( HONG KONG ) LIMITED . * The shares of CHINA United Network Communications LIMITED held by strategic investors represented the shares acquired by the strategic investors introduced by the mixed ownership reform from non public share issuance and transfer of existing shares. ** Excluded the interest in 225,722,791 shares of the Company held by CHINA UNICOM Group Corporation (BVI) LIMITED as trustee on behalf of a PRC shareholder.

6 (Updated on 31 December 2017 ). ANNUAL REPORT 2017 SHAREHOLDING STRUCTURE 3. Performance SERVICE. REVENUE. Highlights GROWTH (YoY). r o u n a 2015 2016 2017 . Tur n o m M n FREE CASH. FLOW (RMB bil). S t r e 2015 2016 2017 . 4 PERFORMANCE HIGHLIGHTS CHINA UNICOM (HONG KONG) LIMITED . NET PROFIT. (RMB bil). d n tum d 2015 2016 2017 . n m t hen e e n g KEY FINANCIAL DATA. Operating Revenue (RMB billions). Of which: Service Revenue1. EBITDA2 (RMB billions). 2017 . 2016. Change YoY. EBITDA (Excluding net loss on asset disposal related to fibre network upgrade in 2017 ) (RMB billions) As % of Service Revenue Net Profit3 (RMB billions) Net Profit (Excluding net loss on asset disposal related to fibre network upgrade in 2017 ) (RMB billions) Basic EPS (RMB) Free Cash Flow (RMB billions) 1, Note 1: In order to better satisfy the internal operation and management requirements, revenue from sales of products associated with the ICT.

7 Business, which was previously recorded as part of the fixed-line service revenue, has been reclassified as part of the revenue from sales of telecommunications products. The related figures for 2016 have been restated. Note 2: EBITDA represents profit for the year before finance costs, interest income, shares of net profit of associates, share of net profit of joint ventures, other income-net, income tax, depreciation and amortisation. As the telecommunications business is a capital intensive industry, capital expenditure and finance costs may have a significant impact on the net profit of the companies with similar operating results. Therefore, the Company believes that EBITDA may be helpful in analysing the operating results of a telecommunications service operator like the Company. Note 3: Net profit represented profit attributable to equity shareholders of the Company.

8 Note 4: Excluded net loss on asset disposal related to fibre network upgrade. ANNUAL REPORT 2017 PERFORMANCE HIGHLIGHTS 5. Major Events January CHINA UNICOM launched the innovative ice-cream package , enabling unlimited Mixed- enjoyment of mobile data and voice nationwide REFORM. p m TO DRIVE. Ne w D e v e l o March CHINA UNICOM firmly committed to the implementation and deployment of Network Speed Upgrade & Tariff Reduction . 6 MAJOR EVENTS CHINA UNICOM (HONG KONG) LIMITED . June September November CHINA UNICOM put AAE-1 submarine cable in CHINA UNICOM removed mobile voice CHINA UNICOM and jointly-developed operation, creating the fastest and the most domestic long distance and roaming fees, smart living experience store debuted in secure information highway for One Belt, effective 1 September Guangzhou One Road initiative CHINA UNICOM 's 4G+ network achieved gigabit-level transmission capacity CHINA UNICOM built the first 5G high & low frequency outdoor experiment base and started officially running the first 5G NR.

9 Outdoor testing station October December t CHINA UNICOM , leveraging the mixed- CHINA UNICOM and Tmall collaborated in e n ownership reform, engaged in promoting New Retail, unveiling their first- m comprehensive in-depth cooperation with in- CHINA innovative smart living experience Tencent in Cloud, network services and store in Shanghai other areas CHINA UNICOM and Suning signed strategic CHINA UNICOM announced first business cooperation agreement to develop a cooperation with Alibaba post mixed- communications + payment/finance . ownership reform: mutual open-up of Cloud ecosystem resources CHINA UNICOM became the official telecommunication services partner of Beijing 2022 Olympic and Paralympic Winter Games August CHINA UNICOM announced mixed-ownership reform plan, the only pilot enterprise to adopt entire group-based mixed-ownership reform CHINA UNICOM rolled out in-depth cooperation with Baidu in Internet of Things, artificial intelligence, Big Data, telecommunication &.

10 Etc. ANNUAL REPORT 2017 MAJOR EVENTS 7. CRRC. Ali CHINA Life Jingdong Qianhai Kuangchi Didi Wangsu Baidu Tencent Yonyou Eastone CSRF. Suning Chairman's Statement An ICONIC. BREAKTHROUGH. TRANSFORM. WANG. XIAOCHU. REFORM CHAIRMAN AND CEO. 10 CHAIRMAN'S STATEMENT CHINA UNICOM (HONG KONG) LIMITED . DEAR SHAREHOLDERS, no impact on cash flow. Excluding the net loss In 2017 , the Company comprehensively deepened on asset disposal related to optical fibre network the implementation of Focus Strategy and upgrade, the Company's EBITDA reached emphasised on scale and profitable development, billion, representing of service revenue and as well as growth promotion, cost control and an increase of percentage point year-on-year mechanism reform, enabling the Company to while profit before income tax reached achieve outstanding results via business model billion and profit attributable to equity shareholders transformation.


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