China Unicom (600050.SH): VAT Category Adjustment for Telecom Services to Impact Company Revenue and Profit

Stock News02-01 17:06

China United Network Communications Limited (600050.SH) has issued an announcement stating that recently, the Ministry of Finance and the State Taxation Administration of the People's Republic of China released Announcement No. 9 [2026] concerning specific value-added tax (VAT) application scopes. Effective January 1, 2026, within China, business activities utilizing fixed networks, mobile networks, satellites, and the internet to provide mobile data services, SMS and MMS services, and internet broadband access services will see their applicable VAT category shifted from value-added telecom services to basic telecom services. The corresponding VAT rate will be adjusted from 6% to 9%. This adjustment in the applicable scope of the tax categories is expected to have an impact on the company's revenue and profit. The company stated it will adhere to integrity and innovation, focus on its primary responsibilities and core businesses, and concentrate on its key strategic areas of "Connectivity," "Computing Power," "Services," and "Security." It aims to build differentiated advantages fully, further enhance operational efficiency, and promote the company's high-quality and sustainable development.

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