News Summary:
On July 1, 2026, PCCW Limited reported a steady performance for the year ended December 31, 2020, navigating the COVID-19 pandemic with revenue, excluding Mobile product sales, climbing 4% to HK$35,437 million, despite total EBITDA easing 3% to HK$11,978 million. The company's Solutions business revenue increased 12% to HK$4,736 million, driven by data center expansion and growth in Southeast Asia. Earlier the same day, PCCW also detailed its 2024 financial performance, noting a 3% increase in revenue to HK$37,557 million and an EBITDA of HK$12,849 million. Its OTT Business revenue reached HK$2,458 million, and Free TV & Related Business revenue grew 11% to HK$1,057 million, resulting in a dividend payment of 38.25 HK cents per ordinary share. Concurrently, PCCW announced a strategic partnership with Lenovo to form a joint venture in the IT solutions business. This partnership involves selling 80% of PCCW Lenovo Technology Solutions and 20% of PCCW Network Services to Lenovo for US$613.6 million, a transaction expected to complete by October 31, 2022, aimed at accelerating IT solutions expansion across Asia Pacific. Previously, on June 29, PCCW granted 124,126 share awards to employees under its 2024 Share Award Scheme, with a vesting period of one to two years and no performance targets or clawback mechanism. Following these grants, 762,305,388 shares remain available for future awards.
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