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Unicom Forecasts 100% Growth in Shareholder Profits

China Securities Journal, 1/31/08

China Unicom (NYSE: CHU; 0762.HK; 600050.SH) has forecast an equity shareholder net profit growth rate of 100% for 2007, based on new Hong Kong financial reporting standards.

Convertible bonds issued to Korea's SK Telecom in July 2006 were converted to shares in August 2007, meaning a significant decline in losses from the change in fair value. Also, Unicom is to benefit from a tax rebate on profits reinvested by subsidiaries.

Keywords: China Unicom CHU 0762.HK 600050.SH 2007 growth rate Korea profit SK Telecom tax wireless

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