City Telecom (Hong Kong)

City Telecom (H.K.) Limited

Type	Public company
Traded as	: 1137, NASDAQ: CTEL
Industry	Telecommunications
Founded	1992
Headquarters	Hong Kong
Key people	Chairman: Ricky Wong Wai Kay
Number of employees	3,000
Website	www.ctigroup.com.hk

City Telecom (H.K.) Limited (CTI, Chinese: 城市電訊(香港)有限公司; pinyin: chéngshì diàn xìn) was established in 1992. It is a provider of residential and corporate fixed network and international telecommunications services in Hong Kong, currently the second largest provider of broadband internet in the country. CTI played a significant role in liberalizing the international telecommunications market monopoly in Hong Kong since their launch of services.

CTI’s wholly owned subsidiary, Hong Kong Broadband Network Limited ("HKBN"), is a major fixed telecom network services operator, providing the world's fastest residential 1 Gbit/s, 200Mbit/s, 100Mbit/s, 50Mbit/s and 25Mbit/s broadband Internet access, telephony, IP-TV and corporate data services with their self-built Metro Ethernet IP network, which is the largest alternative end-to-end network in Hong Kong. Since their establishment, the Group has aggressively marketed itself and its services to capitalize on the growth and deregulation of the Hong Kong telecommunications market. HKBN is the first ISP to deploy Fibre-To-The-Home (FTTH) in the local residential market in September 2007 while the other competitors still predominately use copper wires for their last mile.

City Telecom was listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1137) in August 1997 with an ADR Listing on the Nasdaq National Market (Ticker Symbol: CTEL) in the US in November 1999. In addition to the operations in Hong Kong, the Group also has branch offices in Canada and Guangzhou.

The Group had the strongest turnover growth since FY2000, with the consolidated turnover grew by 14.2% year-on-year to HK$1,303.0 million for the year ended 31 August 2008. This solid growth was primarily contributed by their increase in Fixed Telecommunications Network Service business (FTNS) of 23.8% to HK$1,011.0 million. Besides, the Group’s profits attributable to their shareholders increased by 333.2% to HK$125.2 million with basic earnings per share reaching HK$19.7 cents.

HKBN’s network currently covers 1.5 million Hong Kong households and will continue to expand towards the 2.0 million target by 2010, reaching over 90% of all homes in Hong Kong. HKBN is the first ISP to deploy Fibre-To-The-Home (FTTH) in the local residential market in September 2007 while the other competitors still predominately use copper wires for their last mile. The 100% self-built IP network (Metro-Ethernet) with cumulative investment of HK$2.6 billion, is independent from the incumbent operator, which empowers HKBN to offer superior service and value to their customers. Their symmetrical bandwidth ensures unbeatable speed for both uploading and downloading.