Form 6-K
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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the Month of March 2018

Commission File Number 1-15028

 

 

China Unicom (Hong Kong) Limited

(Exact Name of Registrant as Specified in Its Charter)

 

 

75/F, The Center,

99 Queen’s Road Central, Hong Kong

(Address of principal executive offices)

 

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F  ☒            Form 40-F  ☐

(Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1):  ☐.)

(Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7):  ☐.)

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes  ☐            No  ☒

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82-             .)

 

 

 

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EXHIBITS

 

Exhibit

Number

     
1    Announcement dated March 1, 2018 in respect of Profit Alert.

FORWARD-LOOKING STATEMENTS

This announcement contains certain 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. Such forward-looking statements may include, without limitation, statements relating to (i) the Company’s plans and strategies and the ability to successfully execute these plans and strategies, including those in connection with mergers and acquisitions and capital expenditures; (ii) the Company’s plans for network expansion, including those in connection with the build-out of mobile services and network infrastructure; (iii) the Company’s competitive position, including the ability to upgrade and expand existing networks and increase network efficiency, to improve existing services and offer new services, to develop new technological applications and to leverage the Company’s position as an integrated telecommunications operator and expand into new services and markets; (iv) the Company’s future business condition, including future financial results, cash flows, financing plans and dividends; (v) the future growth of market demand of, and opportunities for, the Company’s new and existing products and services; and (vi) future regulatory and other developments in the PRC telecommunications industry.

The words “anticipate”, “believe”, “could”, “estimate”, “intend”, “may”, “seek”, “will” and similar expressions, as they relate to the Company, are intended to identify certain of these forward-looking statements. The Company does not intend to update any of these forward-looking statements and are under no obligation to do so.

The forward-looking statements contained in this announcement are, by their nature, subject to significant risks and uncertainties. In addition, these forward-looking statements reflect the Company’s current views with respect to future events and are not a guarantee of the Company’s future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including, without limitation:

 

  •   the Company’s ability to effectively sustain its growth and to achieve or enhance profitability;

 

  •   changes in the regulatory regime and policies for the PRC telecommunications industry, including without limitation, changes in the regulatory policies of the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission, and other relevant government authorities of the PRC;

 

  •   changes in the PRC telecommunications industry resulting from the issuance of licenses for telecommunications services by the central government of the PRC;

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  •   changes in telecommunications and related technologies and applications based on such technologies;

 

  •   the level of demand for telecommunications services, in particular, the fourth generation mobile telecommunications services;

 

  •   competitive forces from more liberalized markets and the Company’s ability to retain market share in the face of competition from existing telecommunications companies and potential new market entrants;

 

  •   effects of restructuring and integration (if any) in the PRC telecommunications industry and any cooperation among the PRC telecommunications operators;

 

  •   the availability, terms and deployment of capital and the impact of regulatory and competitive developments on capital outlays;

 

  •   changes in the assumptions upon which the Company has prepared its projected financial information and capital expenditure plans;

 

  •   costs and benefits from the Company’s investment in and arrangements with China Tower Corporation Limited;

 

  •   results and effects of any investigation by the relevant PRC regulatory authorities overseeing State-owned enterprises and their directors, officers and employees; and

 

  •   changes in the political, economic, legal, tax and social conditions in China, including the PRC Government’s policies and initiatives with respect to foreign exchange policies, foreign investment activities and policies, entry by foreign companies into the Chinese telecommunications market and structural changes in the PRC telecommunications industry.

Please also see the “Risk Factors” section of the Company’s latest Annual Report on Form 20-F, as filed with the U.S. Securities and Exchange Commission.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  CHINA UNICOM (HONG KONG) LIMITED
                          (Registrant)
Date: March 2, 2018      
    By:  

/s/ Yung Shun Loy Jacky

    Name:   Yung Shun Loy Jacky
    Title:   Company Secretary

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Exhibit 1

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

 

 

LOGO

CHINA UNICOM (HONG KONG) LIMITED

LOGO

(Incorporated in Hong Kong with limited liability)

(Stock Code: 0762)

Profit Alert

This announcement is made by China Unicom (Hong Kong) Limited (the “Company”, together with its subsidiaries, the “Group”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

In 2017, the Group comprehensively deepened the implementation of Focus Strategy and centred on scale and profitable development through growth promotion, cost control and mechanism reform. Overall development momentum remained robust. Innovation in business model delivered significant benefits, and underpinned healthy business growth. The Group transformed the development model of its mobile service by stepping up online sales efforts via 2I2C, 2B2C, etc. to enhance the quality of new subscribers. With a low-cost and subsidy-light customer acquisition model, the Group achieved faster development of mobile service. In 2017, the Group’s mobile billing subscribers registered a net addition of 20.34 million, reaching a total of 284 million. Within that, 4G subscribers registered a net addition of 70.33 million, reaching a total of 175 million. Overall service revenue is expected to be approximately RMB 249.0 billion1, up by about 4.6% versus 2016.

In 2017, the Group’s profit before income tax is expected to be approximately RMB 2.59 billion, up by about 231% versus 2016. The profit attributable to the equity shareholders of the Company is expected to be approximately RMB 1.83 billion, up by about 193% versus 2016. Net loss on asset disposal of approximately RMB 2.9 billion related to optical fibre network upgrade projects has been charged in both the profit before income tax and profit attributable to the equity shareholders of the Company in 2017. The net loss on asset disposal has no impact on the Group’s cash flows. If the net loss on asset disposal related to optical fibre network upgrade projects in 2017 was excluded, the Group’s profit before income tax would be expected to be approximately RMB 5.49 billion in 2017, up significantly by about 601% versus 2016 while the profit attributable to the equity shareholders of the Company would be expected to be approximately RMB 4.0 billion, up significantly by about 541% versus 2016 mainly benefitting from robust service revenue growth and lower selling and marketing expenses and handset subsidies.

 

 

1  In order to better satisfy the internal operation and management requirements, revenue from sales of products associated with the ICT 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 also been restated.

 

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Going forward, the Group will continue to deepen the strategy of Focus, Innovation and Cooperation, fully accelerate Internet-oriented operation and forcefully push ahead in-depth synergetic business cooperation with strategic investors to speed up the improvement of innovative capability and upgrade of development power. At the same time, the Group will enhance corporate governance and incentive systems on a market-oriented basis to lift vibrancy, efficiency and returns.

Caution Statement

The Board wishes to remind shareholders and investors in the Company that the above estimated financial data are based on the preliminary assessment made by the management of the Company with reference to the information currently available and the unaudited management accounts of the Group, and have not been reviewed or audited by the auditors of the Company. Information to be disclosed in the announcement of the Company’s 2017 annual results in March 2018 shall prevail. The Company’s shareholders and investors are cautioned not to unduly rely on the above data. In the meantime, the Company’s shareholders and investors are advised to exercise caution in dealing in the securities of the Company.

 

By order of the Board
China Unicom (Hong Kong) Limited
Yung Shun Loy Jacky
Company Secretary

Hong Kong, 1 March 2018

Certain statements contained in this announcement may be viewed as “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the U.S. Securities Exchange Act of 1934 (as amended). Such forward-looking statements are subject to known and unknown risks, uncertainties and other 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. In addition, we do not intend to update these forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC.

As at the date of this announcement, the board of directors of the Company comprises:

 

Executive directors:    Wang Xiaochu, Lu Yimin, Li Fushen and Shao Guanglu
Non-executive director:    Cesareo Alierta Izuel
Independent non-executive directors:    Cheung Wing Lam Linus, Wong Wai Ming, Chung Shui Ming Timpson, and Law Fan Chiu Fun Fanny

 

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