中国联通发布关于2026年日常关联交易的补充公告

2026年3月20日，中国联合网络通信股份有限公司（以下简称“中国联通”）发布了《关于日常关联交易的补充公告》，对2026年度与主要关联方中国铁塔和腾讯科技的日常关联交易情况进行详细说明。此次公告补充了前期已披露关联交易的执行情况，并对2026年预计的交易金额进行了详细披露，显示公司相关交易规模预计将显著提升。

一、前次日常关联交易执行情况回顾

• 中国联通与中国铁塔、腾讯科技的日常关联交易主要包括：向关联方销售商品/提供劳务及租赁，以及从关联方购买商品/劳务及租赁两大类。
• 2025年，向中国铁塔销售商品/提供劳务及租赁预计金额为10亿元，实际发生6.23亿元；向腾讯科技销售预计30亿元，实际19.87亿元。合计销售实际金额为26.10亿元，低于预计的40亿元，主要由于实际经营需求低于预期。
• 在从关联方购买商品/劳务及租赁方面，向中国铁塔采购预计180亿元，实际139.56亿元；向腾讯科技采购预计20亿元，实际10.36亿元。合计采购实际金额为149.92亿元，同样低于预计的200亿元。
• 公司解释实际金额与预计金额差异较大的原因，主要是由于关联交易额度是根据双方可能发生的业务上限确定，实际执行根据业务需求进行调整。

二、2026年度日常关联交易预计情况

• 向中国铁塔销售商品/提供劳务及租赁预计12亿元，同比增长92.6%，占同类业务比0.35%；向腾讯科技销售预计32亿元，同比增长61%，占比0.92%。合计销售预计金额44亿元，较上年实际增加17.9亿元，增幅达68.6%。
• 从中国铁塔采购商品/劳务及租赁预计180亿元，与上年基本持平，占同类业务比6.11%；向腾讯科技采购预计18亿元，同比减少2亿元，占比0.61%。合计采购预计金额198亿元，较上年实际增加32.08亿元，增幅21.4%。
• 截至2026年2月28日，公司与上述关联方累计已发生的销售金额为3.31亿元，采购金额为18.23亿元。
• 上述交易占比均不高，对公司主营业务不会构成重大依赖。

三、对投资者和股东的影响及需关注事项

• 交易规模大幅提升：2026年度公司预计与中国铁塔、腾讯科技的关联交易规模较2025年实际水平均有大幅提升，显示公司业务扩展和与核心合作伙伴关系进一步深化，可能带来收入和业务规模的同步增长。
• 交易金额与主营业务占比小：虽然交易规模提升，但占公司同类业务比例较低，短期内不会对公司财务独立性和经营状况造成重大影响。
• 实际执行金额可能波动：公司强调，预计金额为双方可能发生的业务上限，实际执行会根据实际需求调整，投资者需关注后续实际完成金额。
• 公告内容真实、准确、完整，未作重大更改，公司将继续严格履行信息披露义务。

四、潜在股价影响因素

• 交易规模扩张预示公司业务增长预期增强，若后续实际执行金额能够达到或超越预期，有望提升公司收入和盈利能力，成为股价催化剂。
• 但若实际交易低于预计，或与关联方合作关系出现变动，亦可能对市场情绪产生负面影响。

股东和投资者应持续关注公司定期报告及后续关联交易实际进展情况，以把握业务发展动向及潜在投资机会。

免责声明： 本文内容仅供参考，不构成投资建议。投资者据此操作，风险自负，请注意投资风险。

English Version

China Unicom Releases Supplementary Disclosure on 2026 Related-Party Transactions

On March 20, 2026, China United Network Communications Limited (China Unicom) issued a supplementary announcement regarding its annual related-party transactions, providing further details on deals with major related parties, China Tower and Tencent Technology. The disclosure supplements prior announcements, reviewing 2025 execution and outlining 2026 estimates, indicating a significant increase in transaction scale for the new year.

1. Review of Previous Related-Party Transaction Execution

• China Unicom’s related-party transactions mainly involve the sale of goods/provision of services and leases to related parties (China Tower, Tencent Technology), and purchases from these parties.
• In 2025, sales of goods/services to China Tower were budgeted at RMB 1 billion, with actual transactions at RMB 623 million. Sales to Tencent Technology were estimated at RMB 3 billion, with actuals at RMB 1.987 billion. Total actual sales amounted to RMB 2.61 billion, below the forecast of RMB 4 billion, mainly due to lower-than-expected business demand.
• For purchases from related parties, procurement from China Tower was budgeted at RMB 18 billion, with actuals at RMB 13.956 billion. Procurement from Tencent Technology was estimated at RMB 2 billion, actuals at RMB 1.036 billion. Total purchases reached RMB 14.992 billion, below the forecasted RMB 20 billion.
• The company notes that the gap between forecast and actual amounts is due to the upper limit mechanism in budgeting, with actual execution adjusted for business needs.

2. Estimates for 2026 Related-Party Transactions

• Sales to China Tower are expected to reach RMB 1.2 billion in 2026, up 92.6% year-over-year, representing 0.35% of similar business revenue. Sales to Tencent Technology are forecast at RMB 3.2 billion, up 61%, at 0.92% of similar business. Combined, sales are projected at RMB 4.4 billion, a 68.6% increase from previous actuals.
• Purchases from China Tower are anticipated to be RMB 18 billion (6.11% of cost & sales expenses), roughly flat year-over-year. Purchases from Tencent Technology are forecast at RMB 1.8 billion, a slight decrease. Combined purchases are expected at RMB 19.8 billion, up 21.4% from prior actuals.
• By February 28, 2026, already incurred sales to related parties amounted to RMB 331 million, with purchases at RMB 1.823 billion.
• The proportion of these transactions to total business remains low, indicating no significant dependency on related parties.

3. Key Considerations for Investors & Shareholders

• Significant Transaction Growth: The projected 2026 transaction scale with China Tower and Tencent Technology is set for substantial growth, reflecting business expansion and deepening partnerships. This could drive revenue and business growth.
• Low Proportion of Total Business: Despite the rise in transaction scale, the share of total business remains low, posing minimal risk to financial independence.
• Potential Volatility in Actual Execution: The company notes that estimates are upper limits; actual figures may differ based on real business needs.
• The company reaffirms the validity and accuracy of disclosures and will continue meeting its information disclosure obligations.

4. Potential Share Price Drivers

• Transaction expansion signals positive business outlook; if actual figures meet or exceed forecasts, this could enhance revenue, profit, and potentially drive share price higher.
• Conversely, underperformance or changes in related-party relationships could negatively impact market sentiment.

Investors are advised to closely monitor subsequent reports and progress on the actual execution of related-party transactions to assess business developments and investment opportunities.

Disclaimer: The content herein is for reference only and does not constitute investment advice. Investors should operate based on their own judgment and assume investment risks.

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