China Tower Corp Limited/ADR (CHWRF)
China Tower Corporation Limited operates as a prominent provider of telecommunications infrastructure services within the People's Republic of China. The company is primarily responsible for the construction, maintenance, and operation of critical base station facilities, encompassing telecommunications towers, public network coverage for high-speed railways, subways, and extensive indoor distributed antenna systems. It supplies telecommunication service providers with essential infrastructure such as towers, shelters, cabinets, and supporting equipment required for their installations. Beyond core infrastructure, China Tower delivers a broad spectrum of services, including comprehensive maintenance (covering monitoring, inspections, breakdown resolution, and operational analysis), power solutions (providing access, batteries, and backup generation for customer equipment), and advanced indoor distributed antenna systems to facilitate mobile network signals within buildings, large venues, and tunnels. The company further extends its offerings to include backup power for corporate clients, battery exchange and recharge services for both corporate and individual customers, and integrated services spanning information, power generation, and energy storage. Additionally, it provides trans-sector site application and information services. Incorporated in 2014 under the name China Communications Facilities Services Corporation Limited, the company rebranded to China Tower Corporation Limited in September 2014 and maintains its headquarters in Beijing, China.
Industry: Telecommunications Services
China Tower Corporation Limited
OTC:CHWRFCommunication Services · Telecommunications Services
Mkt Cap-
Float4.55B
O/S-
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$14.67B
Net Income$1.7B
Total Assets$50.5B
Free Cash Flow$3.84B
Debt & Equity
Debt 31%
Equity 69%
Total Debt$13.57B
Total Equity$30.59B
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:10
Nasdaq bars a compliance period at 1:250
- 1:10Reverse splitFeb 20, 202510 shares → 1
Balance Sheet Details
Assets$50.5B
Liabilities$19.85B
Accounts Receivable$13.28B
Accounts Payable$5.18B
Inventory$0
PP&E (Net)$34.16B
Goodwill$0
Intangible Assets$146.22M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $14.67B | $14.66B | $14.1B | $13.82B | $12.98B | $12.16B | $11.46B | $10.77B | $10.3B | $8.4B | $1.32B |
| YoY Growth | 0.0% | 4.0% | 2.0% | 6.5% | 6.8% | 6.1% | 6.4% | 4.6% | 22.6% | 536.2% | - |
| Cost of Revenue | $10.48B | $825.42M | $808.77M | $878.36M | $773.98M | $1.79B | $95.83M | $1.83B | $1.7B | $1.37B | $278.34M |
| Gross Profit | $4.19B | $13.84B | $13.29B | $12.94B | $12.21B | $10.37B | $11.37B | $8.94B | $8.6B | $7.03B | $1.04B |
| Gross Margin | 28.6% | 94.4% | 94.3% | 93.6% | 94.0% | 85.3% | 99.2% | 83.0% | 83.5% | 83.7% | 78.9% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $127.92M | $118.47M | $117.27M | $91.63M | $70.18M | $52.19M | $30.29M | $1.2M | $1.7B | $352.67M | $334.96M |
| Other | $1.55B | $11.27B | $11B | $9.41B | $9.06B | $8.52B | $9.49B | $8.25B | $22.35M | $7.2M | $2.7M |
| Total Operating Expenses | $1.68B | $11.39B | $11.11B | $9.5B | $9.13B | $8.57B | $9.52B | $7.44B | $7.44B | $6.27B | $1.67B |
| Operating Income (EBIT) | $2.51B | $2.45B | $2.17B | $2B | $1.95B | $1.8B | $1.69B | $1.36B | $1.16B | $760.33M | -$624.01M |
| Operating Margin | 17.1% | 16.7% | 15.4% | 14.4% | 15.1% | 14.8% | 14.8% | 12.6% | 11.2% | 9.1% | -47.3% |
| Interest Expense | $357.35M | $395.76M | $423.96M | $450.35M | $561.63M | $593.72M | $699M | $900.85M | $792.28M | $761.38M | $112.03M |
| Interest Income | $5.26M | $9.45M | $6.45M | $18.6M | $3.3M | $5.4M | $9.45M | $37.19M | $15.6M | $9.75M | $21.6M |
| Other Income (Expense) | -$265.02M | -$331.58M | -$250.45M | -$267.54M | -$512.89M | -$540.63M | -$666.45M | -$967.14M | -$754.33M | -$744.44M | -$87.73M |
| Income Before Tax (EBT) | $2.24B | $2.12B | $1.92B | $1.73B | $1.44B | $1.26B | $1.03B | $521.14M | $402.66M | $15.9M | -$711.74M |
| Income Tax Expense | $545.53M | $508.24M | $462.2M | $411.06M | $342.97M | $296.93M | $242.35M | $123.72M | $111.28M | $4.5M | -$172.46M |
| Net Income | $1.7B | $1.61B | $1.46B | $1.32B | $1.1B | $963.99M | $783.13M | $397.41M | $291.39M | $11.4M | -$539.28M |
| Net Income Margin | 11.6% | 11.0% | 10.4% | 9.5% | 8.5% | 7.9% | 6.8% | 3.7% | 2.8% | 0.1% | -40.9% |
| Supplementary Data | |||||||||||
| EPS | 0.65 | 0.61 | 0.56 | 0.50 | 0.42 | 0.37 | 0.30 | 0.18 | 0.15 | 0.01 | -1.20 |
| Diluted EPS | 0.65 | 0.61 | 0.56 | 0.50 | 0.42 | 0.37 | 0.30 | 0.18 | 0.15 | 0.01 | -1.20 |
| Weighted Average OS | 17.48B | 17.48B | 17.48B | 17.48B | 17.48B | 17.49B | 17.56B | 14.85B | 12.93B | 12.93B | 2.99B |
| EBITDA | $9.76B | $10.05B | $9.7B | $9.61B | $9.5B | $8.98B | $8.54B | $6.32B | $6.09B | $4.91B | $170.81M |
| EBITDA Margin | 66.6% | 68.5% | 68.8% | 69.5% | 73.2% | 73.8% | 74.5% | 58.7% | 59.1% | 58.5% | 12.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $1.85B | $389.61M | $593.12M | $767.38M | $970.44M | $756.13M | $933.25M | $725.24M | $1.18B | $2.59B | $2.05B |
| Short-Term Investments | $0 | $0 | $184.16M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.85B | $389.61M | $777.28M | $767.38M | $970.44M | $756.13M | $933.25M | $725.24M | $1.18B | $2.59B | $2.05B |
| Accounts Receivable | $13.28B | $12.6B | $9.74B | $5.48B | $4.35B | $3.69B | $3.82B | $2.77B | $2.19B | $1.63B | $3.06B |
| Inventory | $0 | $0 | $1.39B | $1.21B | $1.93B | $2.03B | $2.08B | -$2.03B | $4.2M | $450K | $750K |
| Other Current Assets | $487.19M | $141.42M | -$198.26M | -$416.01M | -$424.41M | $600K | -$1.27B | $3.57B | $2.91B | $2.97B | $142.77M |
| Total Current Assets | $15.61B | $13.7B | $11.71B | $7.45B | $7.25B | $6.48B | $6.15B | $4.77B | $4.58B | $5.93B | $5.57B |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $34.16B | $35.5B | $36.57B | $37.84B | $40.17B | $42.78B | $43.09B | $39.18B | $40.35B | $38.9B | $33.55B |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $146.22M | $152.22M | $158.97M | $164.51M | $175.61M | $172.46M | $149.07M | $0 | $0 | $116.08M | $99.74M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $528.03M | $882.11M | $1.08B | $0 | $0 | -$116.08M | -$99.74M |
| Deferred Tax Assets | $457.93M | $392.61M | $331.13M | $289.44M | $283.74M | $218.5M | $179.81M | $105.88M | $103.33M | $181.16M | $185.66M |
| Other Long-Term Assets | $125.36M | $168.11M | $116.67M | $79.93M | $74.53M | $62.24M | $56.24M | $3.24B | $3.35B | $1.73B | $1.06B |
| Total Long-Term Assets | $34.89B | $36.21B | $37.18B | $38.37B | $41.23B | $44.12B | $44.55B | $42.53B | $43.81B | $40.81B | $34.8B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $50.5B | $49.91B | $48.89B | $45.82B | $48.48B | $50.6B | $50.7B | $47.29B | $48.39B | $46.74B | $40.36B |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $5.18B | $4.99B | $4.24B | $4B | $3.79B | $4.72B | $4.4B | $4.59B | $4.78B | $5.97B | $3.24B |
| Short-Term Debt | $4.71B | $4.28B | $3.57B | $3.84B | $5.57B | $9.3B | $13.05B | $11.99B | $14.29B | $5.59B | $1.93B |
| Current Income Tax Payable | $0 | $113.08M | $77.98M | $75.43M | $112.33M | $81.28M | $74.23M | $103.33M | $53.99M | $27.29M | $21.6M |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $103.33M | $686.55M | $474.65M | $199.76M |
| Other Current Liabilities | $1.03B | $664.65M | $271.89M | $455.45M | $371.17M | $263.64M | $200.51M | $141.12M | $2.66B | $13.62B | $1.66B |
| Total Current Liabilities | $12.09B | $11.37B | $9.59B | $9.77B | $11.42B | $15.99B | $19.25B | $17.21B | $22.5B | $25.73B | $7.07B |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $5.41B | $6.16B | $7.4B | $4.72B | $6.23B | $4.07B | $1.27B | $2.86B | $6.57B | $1.84B | $1.65B |
| Long-Term Unearned Revenue | $0 | $56.54M | $55.19M | $56.39M | $65.39M | $0 | $119.97M | $155.82M | $197.06M | $340.13M | $332.63M |
| Long-Term Deferred Tax Liabilities | $0 | $0 | -$55.19M | $0 | -$65.39M | $0 | -$119.97M | -$155.82M | -$197.06M | -$7.25M | $0 |
| Other Long-Term Liabilities | $5.4M | $5.55M | $60.44M | $6M | $71.08M | $94.93M | $119.97M | $0 | $0 | $0 | $12.5B |
| Total Long-Term Liabilities | $7.76B | $8.56B | $9.65B | $7.02B | $8.66B | $6.67B | $4.07B | $3.01B | $6.76B | $2.18B | $14.48B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $19.85B | $19.92B | $19.24B | $16.79B | $20.08B | $22.67B | $23.32B | $20.22B | $29.27B | $27.91B | $21.54B |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $556.68M | $293.19M | $293.19M | $250.3M | $223.15M | $0 | $0 | $0 | $0 |
| Common Stock | $2.64B | $26.4B | $26.4B | $26.4B | $26.4B | $26.4B | $26.4B | $26.4B | $19.4B | $19.4B | $19.4B |
| Retained Earnings | $3.03B | $2.62B | $2.43B | $1.97B | $1.46B | $1.06B | $580.37M | $107.98M | -$277.44M | -$568.83M | -$580.22M |
| Comprehensive Income & Other | $597.77M | $58M | -$293.19M | -$293.19M | -$293.19M | -$250.3M | -$223.15M | -$14.25B | -$9.56B | -$4.83B | -$770.08M |
| Other Stockholders' Equity | $24.92B | $977.49M | $817.47M | $670.95M | $538.08M | $471.35M | $402.06M | $565.98M | $0 | $0 | $0 |
| Total Equity | $30.59B | $29.99B | $29.65B | $29.03B | $28.4B | $27.93B | $27.38B | $27.07B | $19.12B | $18.83B | $18.82B |
| Minority Interest | $300K | $150K | $0 | $0 | $0 | $150K | $300K | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $50.44B | $49.91B | $48.89B | $45.82B | $48.48B | $50.6B | $50.7B | $47.29B | $48.39B | $46.74B | $40.36B |
| Supplementary Data | |||||||||||
| Total Debt | $13.57B | $13.88B | $14.19B | $11.87B | $15.19B | $16.93B | $18.05B | $14.85B | $20.85B | $7.43B | $3.58B |
| Net Debt | $11.73B | $13.49B | $13.6B | $11.1B | $14.22B | $16.17B | $17.12B | $14.12B | $19.68B | $4.84B | $1.53B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | |||||||||||
| Net Income | $2.3B | $2.12B | $1.92B | $1.73B | $1.44B | $1.26B | $1.03B | $521.14M | $402.66M | $15.9M | -$711.74M |
| Depreciation & Amortization | $7.27B | $7.53B | $7.36B | $7.43B | $7.5B | $7.13B | $6.81B | $4.9B | $4.9B | $4.14B | $770.53M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$190.91M | -$104.23M | -$100.18M | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | -$42.74M | $5.7M | $37.04M | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$1.41B | -$2.61B | -$4.54B | -$1.21B | -$530.28M | -$659.86M | -$1.06B | -$584.27M | $79.03M | -$927.5M | -$1.59B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3.75M | $300K | -$600K |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $224.5M | $381.82M | $77.38M | $1.47B | $341.48M | $431.01M | $95.83M | $716.84M | -$1.05B | -$871.01M | -$1.18B |
| Total Working Capital Change | -$1.18B | -$2.22B | -$4.47B | $260.19M | -$188.81M | -$228.85M | -$968.94M | $447.95M | -$1.05B | -$870.71M | -$1.18B |
| Other Non-Cash Items | $25.64M | -$7.35M | $110.38M | $350.77M | $558.33M | $571.22M | $684.6M | $957.69M | $991.73M | $856.16M | $112.78M |
| Net Cash from Operating | $8.42B | $7.42B | $4.92B | $9.77B | $9.07B | $8.63B | $7.49B | $6.83B | $5.24B | $4.14B | -$1.01B |
| Investing Activities | |||||||||||
| Capital Expenditures | -$4.58B | -$4.47B | -$5.02B | -$4.3B | -$4.9B | -$5.7B | -$4.23B | -$4.95B | -$7.8B | -$6.91B | -$2.28B |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.2M | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $181.76M | $271.44M | $235.9M | $150.72M | $173.96M | $15.15M | $14.85M | $12M | $12.9M | $9.3M | $0 |
| Net Cash from Investing | -$4.4B | -$4.2B | -$4.78B | -$4.15B | -$4.73B | -$5.68B | -$4.22B | -$4.94B | -$7.79B | -$6.9B | -$2.28B |
| Financing Activities | |||||||||||
| Debt Repaid | -$384.07M | $285.69M | -$2.4B | $3.28B | -$71.83M | $89.08M | $3.14B | $6.05B | -$14.02B | -$3.12B | -$3.91B |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $3.6M | $0 | $7.67B | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | -$53.69M | -$55.34M | -$74.23M | $0 | -$260.19M | $0 | $0 | $0 | $0 |
| Dividends Paid | -$1.15B | -$1.27B | -$847.76M | -$692.55M | -$589.97M | -$384.07M | -$59.39M | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$1.79B | -$1.87B | -$1.81B | -$1.79B | -$1.89B | -$1.76B | -$2.3B | -$3.97B | -$12.14B | -$554.88M | -$10.2M |
| Net Cash from Financing | -$2.56B | -$3.43B | -$314.33M | -$5.82B | -$4.13B | -$3.12B | -$3.06B | -$2.34B | $1.14B | $3.3B | $3.9B |
| Forex Effect | -$750K | -$150K | -$150K | -$900K | $150K | $750K | $0 | $150K | $0 | $0 | $0 |
| Net Change in Cash | $1.46B | -$203.51M | -$174.26M | -$203.06M | $214.3M | -$177.11M | $208M | -$452.3M | -$1.41B | $539.28M | $609.02M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | $8.42B | $7.42B | $4.92B | $9.77B | $9.07B | $8.63B | $7.49B | $6.83B | $5.24B | $4.14B | -$1.01B |
| Capital Expenditure | -$4.58B | -$4.47B | -$5.02B | -$4.3B | -$4.9B | -$5.7B | -$4.23B | -$4.95B | -$7.8B | -$6.91B | -$2.28B |
| Free Cash Flow | $3.84B | $2.95B | -$95.68M | $5.47B | $4.17B | $2.93B | $3.25B | $1.88B | -$2.56B | -$2.77B | -$3.29B |
| Cash at Beginning | $389.61M | $593.12M | $767.38M | $970.44M | $756.13M | $933.25M | $725.24M | $1.18B | $2.59B | $2.05B | $1.44B |
| Cash at End | $1.85B | $389.61M | $593.12M | $767.38M | $970.44M | $756.13M | $933.25M | $725.24M | $1.18B | $2.59B | $2.05B |