Number of employees 3,000 Founder Ricky Wong Headquarters Hong Kong | Industry Telecommunications Website www.ctigroup.com.hk Founded 1992 | |
 | ||
Traded as SEHK: 1137, NASDAQ: CTEL Key people Chairman: Ricky Wong Wai Kay Parent organization Hong Kong Television Network Subsidiaries Hong Kong Television Network | ||
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.
Contents
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.
Self-built next generation network
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.
For overseas, the Group invested part of submarine cables, including Japan-US Cable to connect the US and Japan across the Pacific Ocean, as well as Asia Pacific Cable Network 2, connecting to eight districts in Asia and allow direct link with the major fixed network operations in China.
Founders
Chairman – Wong Wai Kay, Ricky
Mr. WONG Wai Kay, Ricky, is the co-founder and Chairman of the Group. He is responsible for our overall strategic planning and management. Mr. Wong has over 20 years' experience in the telecommunications and computer industries. He had worked at a major US-listed computer company as a marketing representative and was responsible for marketing and distribution of computer products in Hong Kong from 1985 to 1989. He was also a co-founder and director of a company principally engaged in import and distribution of computer systems in Canada prior to co-founding of the Group. Mr. Wong holds a bachelor's degree in Science and a Master of Business Administration Degree (Executive MBA Programme) from The Chinese University of Hong Kong. He is a first cousin of Mr. Cheung Chi Kin, Paul, the Vice Chairman of the Group. Currently, Mr. Wong is a member of Commission on Youth, a member of Zhejiang Committee, Chinese People's Political Consultative Conference, an independent non-executive director of Bossini International Holdings Limited and a member of the Board of Trustees, United College, The Chinese University of Hong Kong.
Vice Chairman – CHEUNG Chi Kin, Paul
Mr. CHEUNG Chi Kin, Paul, is the co-founder and Vice Chairman of the Group. Mr. Cheung is responsible for overall strategic planning and management of the Group. Prior to that, Mr. Cheung was appointed as the Chief Executive Officer and was responsible for our day-to-day operations and technological research, development and support activities. Mr. Cheung has more than 27 years' experience in the telecommunications and computer industries. He had worked in companies engaged in application software development and computer consultancy prior to co-founding of the Group. Mr. Cheung graduated with a Diploma of Advanced Programming and System Concepts Design from Herzing Institute, Canada. Mr. Cheung is a first cousin of Mr. Wong Wai Kay, Ricky, the Chairman of the Group.
Milestones
1992
1993
1994
1997
1998
1999
2000
2001
2002
2003
2004
2005
2007
2008
2012