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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 2019 HKDUSD
Gross Profit11,409M1,456.12M
Operating income4,790M611.34M
Income before tax3,778M482.18M
Net income681M86.91M
Diluted EPS0.080.01
Dividends Per Share0.320.04
Total Assets98,895M12,692.18M
Total liabilities80,923M10,385.66M
Total equity15,538M1,994.14M
Operating cash flow9,811M1,252.16M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 39,314M 38,384M 36,832M 38,850M 37,521M
Gross Profit 14,311M 13,959M 11,702M 11,235M 11,409M
Operating income 5,835M 5,527M 6,286M 5,198M 4,790M
Income before tax 4,440M 4,227M 4,145M 4,184M 3,778M
Net income 2,295M 2,051M 895M 897M 681M
EBITDA 11,873M 12,209M 13,072M 12,171M 11,995M
Diluted EPS 0.30 0.26 0.26 0.11 0.08
Dividends Per Share 0.25 0.28 0.29 0.31 0.32
Total Assets 74,758M 79,584M 92,524M 94,227M 98,895M
Total liabilities 61,416M 64,808M 70,632M 74,618M 80,923M
Total equity 11,024M 12,026M 19,190M 17,095M 15,538M
Operating cash flow 10,460M 8,963M 9,207M 5,331M 9,811M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 5,071.09M 4,944.82M 4,726.40M 4,956.90M 4,788.77M
Gross Profit 1,845.96M 1,798.27M 1,501.63M 1,433.48M 1,456.12M
Operating income 752.65M 712.01M 806.64M 663.21M 611.34M
Income before tax 572.71M 544.54M 531.90M 533.84M 482.18M
Net income 296.03M 264.22M 114.84M 114.44M 86.91M
EBITDA 1,531.49M 1,572.82M 1,677.44M 1,552.90M 1,530.91M
Diluted EPS 0.03 0.03 0.03 0.01 0.01
Dividends Per Share 0.03 0.03 0.03 0.03 0.04
Total Assets 9,646.00M 10,264.73M 11,835.79M 12,035.09M 12,692.18M
Total liabilities 7,924.49M 8,358.92M 9,035.34M 9,530.54M 10,385.66M
Total equity 1,422.42M 1,551.11M 2,454.81M 2,183.45M 1,994.14M
Operating cash flow 1,349.22M 1,154.66M 1,181.47M 680.18M 1,252.16M

Valuation Measures

Dec 2019
Operating margin12.76%
Profit margin1.81%

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
  • Head-Group Human Resources: Lai Sim Chow


  • Pacific Century Regional Developments Ltd. (22.6%)
  • China State-Owned Assets Supervision & Admn Commission (18.4%)
  • BlackRock Fund Advisors (1.9%)
  • The Vanguard Group, Inc. (1.6%)
  • Norges Bank Investment Management (0.8%)
  • BlackRock Investment Management (UK) Ltd. (0.6%)
  • BlackRock Asset Management Deutschland AG (0.5%)
  • BNP Paribas Asset Management France SAS (0.5%)
  • Dimensional Fund Advisors LP (0.5%)

Contact Details

  • Website:
  • Address: 41st Floor, PCCW Tower, TaiKoo Place, 979 King's Road, Hong Kong, Hong Kong
  • Phone: +852.2888.2888

Related Companies

  • 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
  • PCCW Customer Management Technology & Services (Guangzhou)
  • 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.
  • PCCW Capital No. 5 Ltd.
  • Unihub China Information Technology Co., Ltd.
  • HKT Ltd.
  • PCCW Capital No. 4 Ltd.
  • UK Broadband Ltd.
  • Pccw Media Group
  • Cas Holding No 1 Ltd.
  • HKT Trust & HKT Ltd.
  • PCCW-HKT Partners Ltd.
  • PCCW Global (Japan) K.K.
  • PCCW Ltd. /CDMA Business/


  • Singapore Telecommunications Limited
  • Advanced Info Service Public Co., Ltd.
  • AT&T Inc.
  • Alphabet Inc. Class A
  •, Inc.
  • Sony Corporation
  • LINE Corp.
  • iQIYI, Inc. Sponsored ADR Class A
  • Netflix, Inc.
  • True Corp. Public Co., Ltd.
  • NAVER Corp.
  • AMC Networks Inc. Class A
  • ABS-CBN Corporation
  • Walt Disney Company
  • Digi International Inc.
  • China Unicom (Hong Kong) Limited
  • 21Vianet Group, Inc. Sponsored ADR Class A
  • Chunghwa Telecom Co., Ltd
  • BEC World Public Co., Ltd.
  • Television Broadcasts Limited
Last Updated on 12 Aug, 2020

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