In response to the country's call for reform of state-owned enterprises, China Unicom is the leader of the enterprise. After undergoing the mixed reform in 2017, China Unicom announced that the mixed improvement and finalization stage will inevitably change what China Unicom has changed.
If the communication circle is likened to the entertainment circle, the "flow star" in this year's circle is undoubtedly non-China Unicom.
From the beginning of the year to the end of the year, the “mixed reform†(the reform of state-owned enterprise mixed ownership) runs through China Unicom’s 2017. From the capital level, business level to management level reform, "BATJ" four major Internet giants tens of billions of shares, Tencent Wangka / Wangka broadband, 850 million equity incentives, "slimming fitness", pieces are captivating Eyeball news. These incidents occurred in a large telecom central enterprise, which means that China Unicom needs China's Unicom to overcome the danger of the rapids and reach the heights of the cold.
Industry media reported the entire process of China Unicom's mixed reform from rumors to implementation, step by step. Looking back on 2017, we can say that China Unicom's mixed reform has achieved initial success. Looking forward to 2018, the mixed reform will continue to advance, and at the same time face greater external competitive pressures, China Unicom hopes to coexist with challenges.
The whole process of China Unicom's mixed reform is briefly described. In 2015 and 2016, the industry has been rumored to reorganize Telecom Unicom. Until October 2016, China Unicom Group was included in the first batch of pilot projects in the national mixed reform; in March 2017, Wang Unichu, the chairman of China Unicom, and Lu Yimin, the general manager of the company, expressed their views. The mixed reform program is being approved by the relevant state departments; April 5, 2017: China Unicom has clearly defined the A-share company as a mixed-reform platform; in July 2017, the mixed-reform pilot was approved by the National Development and Reform Commission; in August 2017, the non-public was released. The issuance of the A share stock plan and the restricted stock incentive plan (draft) and other proposals, mixed change was announced.
There are more than 3,000 listed companies in China's A-shares, and there are thousands of cases of capital restructuring every year. Shareholders are used to it. However, the mixed reform of state-owned enterprises is far from the capital reorganization in the general sense. It also carries the important tasks of improving the management system of state-owned enterprises, optimizing the allocation of capital and operating efficiency, and maintaining and increasing the value of state-owned capital. For China Unicom, a large central enterprise with more than 200,000 employees in the core information infrastructure of the country, there are too many things to be coordinated.
Let's try a few examples. First, Wang Xiaochu mentioned that China Unicom has a lot of departments involved in the mixed reforms. It needs to communicate with 10 ministries and commissions. Many of the ministries communicated by himself. The difficulty is still not small. "The ministries and commissions have different regulations. Reform is to break through many unreasonable rules in the past. It takes time to communicate in all aspects. We have communicated with 10 ministries and commissions. China Unicom also hopes to deepen reforms for the country through this reform. Do a good job."
It is reflected in the Unicom A-share company. After four clarifications and eight suspensions, the relevant proposals were officially released. The progress was actually delayed.
Second, the oolong incident. On August 21, 2017, after the announcement of the mixed-reform plan by the Shanghai Stock Exchange, China Unicom A-share company cancelled all the announcements overnight, which made the industry stunned. The reason is that China Unicom's mixed-reform plan has sold shares to private capital, which is contrary to the new rules of the CSRC. In the end, Unicom's mixed reform was adopted in the form of “special approvalâ€, which also reflected the great significance of Unicom's mixed reforms in deepening the reform of central enterprises.
Third, employee equity incentives. 850 million restricted stocks, the incentive price is only 3.79 yuan per share, for 3% of employees. This news has refreshed the single page views of the C114 media platform this year. It can be seen that China Unicom employees, two other operators and industry insiders are concerned about equity incentives. Combining the “slimming body†promoted by the back, who inspires and “slimming†needs great wisdom and determination at the management level.
The process can be described as twists and turns, but the advancement of China Unicom's mixed reforms is still quite smooth. Wang Xiaochu recently publicly stated that as of now, the entire workload of China Unicom has been completed 92%. This includes completing the employee shareholding plan rules, completing the slimming and fitness work, establishing Unicom Online, and signing cooperation agreements with various strategic investors to start business-level cooperation.
"Mixed" is basically over, and the next big thing is to "change." Wang Xiaochu is an evaluation.
Visible hopeWith the advancing of the mixed reform, China Unicom has launched many innovative initiatives at the business level. For example, Tencent jointly launched "Tencent King Card", and Ali launched "Ant Baoka", and launched with various other Internet giants, vertical industry giants such as Baidu, Xiaomi, Meizu, Zhihu, ICBC, China Merchants Bank, etc. The category of custom cards, among which Tencent Wangka, which has the best momentum, has developed 50 million users.
In addition, there is the first "unlimited traffic" ice cream package, and the big move on the fixed network side - Wangka Broadband, "reject the monthly fee, refuse the box fee, refuse the TV fee, only 1 yuan per day, no need The Internet gameplay, which does not cost money, has revolutionized the fixed-line broadband year and half-year business model. You can imagine the powerful lethality brought about by the nationwide promotion. And with the deepening of China Unicom's "Internetization", more innovative business operations models are expected in 2018.
China Unicom’s hesitation in the 4G era has made its performance in 2015 and 2016 a trough. In 2015, China Unicom's mobile subscribers fell for 11 consecutive months, excluding the loss of the tower sales after the loss of 3.36 billion; 2016 net profit is only 630 million yuan, fixed-line broadband users were overtaken by China Mobile, and was widened ... ... a word is difficult. In 2017, although it has not been greatly reversed due to inertia, it has been on the track of healthy development. In November 2017, China Unicom's net increase of 4G users was 5.05 million, with a total of 170 million; fixed-line broadband subscribers increased by 37,000, with a total of 77.503 million. In the first three quarters of 2017, the net profit attributable to the parent company was 1.312 billion yuan, a year-on-year increase of 168%.
50 million Tencent Wangka users, the help of various Internet custom cards, the big move on the fixed-line broadband side, and more cooperation, this is the hope that China Unicom can see next year. Of course, there are also "painful pains". Compared with traditional user packages, Internet packages have strong customization, ARPU values ​​are generally lower, and there must be a certain impact on China Unicom's performance. The data shows that China Unicom's ARPU value for 4G users in the first half of 2017 was 66.5 yuan, compared with 81.3 yuan in the same period last year.
With the end of October 2017, China Unicom's old users can apply for Internet packages. This impact will be more obvious in 2018, including Wangka broadband. If China Unicom is promoted nationwide, it will face the same troubles. For China Unicom, the mixed reform requires both a determination to go forward and a courage to break the wrist. A veteran central enterprise that has undergone many reorganizations will inevitably encounter various troubles and embrace various short-term gains and losses. Only by firmly developing the general direction can we get rid of all kinds of interests and become the innovation leader of the communications industry. Development brings value.
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