ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter


Company Background

PCCW is a major telecommunications company in Hong Kong. It has a workforce of more than 23,000. The company also works in real estate development and investment, media and information technology solutions. Its does business in East Asia, Europe, the U.S. and the Middle East. PCCW has a majority stake in HKT, Hong Kong's largest cellphone carrier. HKT operates telecom services including broadband, equipment sales, outsourcing and consulting businesses as a core unit of PCCW.

PCCW has also been strengthening its presence in broadcasting. It owns now TV, Hong Kong's leading subscription broadcaster. The company plans to expand its video-on-demand business in emerging markets through U.S.-based subsidiary Vuclip. PCCW also received a free-to-air broadcasting license from the Hong Kong government in April 2015. Its subsidiary Hong Kong Television Entertainment will launch a 24-hour Cantonese channel in 2016 and an English-language channel by 2017. PCCW will invest 2.7 billion Hong Kong dollars ($348 million) in the new channels over their first 10 years.

Chairman Richard Li Tzar-kai is the second son of Li Ka-shing, one of Asia's richest men. Li Ka-shing leads Hong Kong conglomerate CK Hutchison Holdings. PCCW is around 25% owned by Singapore-based investment company Pacific Century Regional Developments, which is also led by Richard Li Tzar-kai.

Business Summary

PCCW Ltd. is an investment holding company, which engages in the provision of telecommunications and related services. It operates through the following segments: HKT, Media Business, Solutions Business, Pacific Century Premium Development Limited (PCPD), and Other Businesses. The HKT segment includes local telephony, local data and broadband, international telecommunications, mobile, and other telecommunications businesses such as customer premises equipment sales, outsourcing, consulting, and contact centers. The Media Business segment offers interactive pay-television services, internet portal digital media entertainment platform, and directories operations in Hong Kong, mainland China and other parts of the world. The Solutions Business segment provides information and communications technologies services and solutions in Hong Kong, and other parts of Greater China and Asia. The PCPD segment covers the group's development and management of premium-grade property and infrastructure projects as well as premium-grade property investments. The Other Businesses segment comprises of corporate support functions, and the group’s wireless broadband business in the United Kingdom. The company was founded on April 24, 1979 and is headquartered in Hong Kong.

Financial Highlights

Dec 2020 HKDUSD
Gross Profit9,685M1,248.71M
Operating income4,187M539.84M
Income before tax1,433M184.76M
Net income-1,020M-131.51M
Diluted EPS-0.13-0.01
Dividends Per Share0.320.04
Total Assets97,839M12,618.11M
Total liabilities84,285M10,870.08M
Total equity9,933M1,281.04M
Operating cash flow11,358M1,464.41M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 38,384M 36,832M 38,850M 37,521M 38,046M
Gross Profit 13,959M 11,702M 11,235M 11,409M 9,685M
Operating income 5,527M 6,286M 5,198M 4,790M 4,187M
Income before tax 4,227M 4,145M 4,184M 3,778M 1,433M
Net income 2,051M 895M 897M 681M -1,020M
EBITDA 12,209M 13,072M 12,171M 11,995M 12,052M
Diluted EPS 0.26 0.26 0.11 0.08 -0.13
Dividends Per Share 0.28 0.29 0.31 0.32 0.32
Total Assets 79,584M 92,524M 94,227M 98,895M 97,839M
Total liabilities 64,808M 70,632M 74,618M 80,923M 84,285M
Total equity 12,026M 19,190M 17,095M 15,538M 9,933M
Operating cash flow 8,963M 9,207M 5,331M 9,811M 11,358M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 4,944.82M 4,726.40M 4,956.90M 4,788.77M 4,905.36M
Gross Profit 1,798.27M 1,501.63M 1,433.48M 1,456.12M 1,248.71M
Operating income 712.01M 806.64M 663.21M 611.34M 539.84M
Income before tax 544.54M 531.90M 533.84M 482.18M 184.76M
Net income 264.22M 114.84M 114.44M 86.91M -131.51M
EBITDA 1,572.82M 1,677.44M 1,552.90M 1,530.91M 1,553.89M
Diluted EPS 0.03 0.03 0.01 0.01 -0.01
Dividends Per Share 0.03 0.03 0.03 0.04 0.04
Total Assets 10,264.73M 11,835.79M 12,035.09M 12,692.18M 12,618.11M
Total liabilities 8,358.92M 9,035.34M 9,530.54M 10,385.66M 10,870.08M
Total equity 1,551.11M 2,454.81M 2,183.45M 1,994.14M 1,281.04M
Operating cash flow 1,154.66M 1,181.47M 680.18M 1,252.16M 1,464.41M

Valuation Measures

Dec 2020
Operating margin11.00%
Profit margin-2.68%

Key executives

  • Group Managing Director & Executive Director: Srinivas Bangalore Gangaiah
  • Group Chief Financial Officer & Executive Director: Hon Hing Hui
  • Managing Director: Janice Lee
  • Head-Investor Relations: Marco Wong
  • Group Chief Human Resources Officer: Wai Ling Shum


  • Pacific Century Regional Developments Ltd. (22.6%)
  • China State-Owned Assets Supervision & Admn Commission (18.4%)
  • LI TZAR KAI (6.2%)
  • The Vanguard Group, Inc. (1.3%)
  • Norges Bank Investment Management (0.8%)
  • BlackRock Fund Advisors (0.8%)
  • Dimensional Fund Advisors LP (0.5%)
  • BlackRock Japan Co., Ltd. (0.3%)
  • APG Asset Management NV (0.3%)
  • JPMorgan Investment Management, Inc. (0.2%)

Contact Details

  • Website:
  • Address: PCCW Tower, TaiKoo Place, 979 King's Road, Hong Kong, Hong Kong
  • Phone: +852.2888.2888

Related Companies

  • PCCW Solutions Data Centers Malaysia Sdn. Bhd.
  • PCCW Ltd. /Data Center Business/
  • Cyberworks Ventures Ltd.
  • Nihon Harmony Resorts KK
  • Talent Master Investments Ltd.
  • PCCW Powerbase Data Center Services (HK) Ltd.
  • PCCW Solutions Singapore Pte Ltd..
  • Pacific Century Cyberworks Solutions (Macau) Ltd.
  • PCCW Solutions (Guangzhou) Ltd.
  • PCCW Productions Ltd.
  • PCCW Content Ltd.
  • Great Epoch Holdings Ltd.
  • PCCW Global (Germany) GmbH
  • PCCW Vuclip (Singapore) Pte Ltd.
  • PCCW Teleservices Operations (Hong Kong) Ltd.
  • Vuclip (India) Pvt Ltd.
  • Vuclip Digital Media Pvt Ltd.
  • Sino Pearl Ltd.
  • Seamless Industries Ltd.
  • Mandarin Communications Ltd.
  • PCCW Enterprises Ltd.
  • PCCW Global Europe Cooperatieve UA
  • PCPD Services Ltd.
  • PCCW Global Pte Ltd.
  • PCCW Finance Ltd.
  • PCCW Cascade (Thailand) Ltd.
  • PCCW IMS Ltd.
  • PCCW (Beijing) Ltd.
  • PCCW Business eSolutions Ltd.
  • Ripley Investments Ltd.


  • Sunevision Holdings Ltd.
  • China Unicom (Hong Kong) Limited
  • 21Vianet Group, Inc. Sponsored ADR Class A
  • Chunghwa Telecom Co., Ltd
  • BEC World Public Co., Ltd.
Last Updated on 15 Oct, 2021

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more