China Unicom Reports 9% Decline In First-Half Net Profit

China Unicom (Hong Kong) Ltd CHU reported a 9% decline in its first-half net profit. China Unicom's net profit for period came in at CNY2.65 billion, versus a restated CNY2.92 billion, in the year-ago period. However, analysts were expecting a net profit of CNY1.28 billion. China Unicom's revenue climbed 23% to CNY101.40 billion, versus a restated CNY82.64 billion. Analysts were expecting revenue of CNY98.87 billion. China Unicom's shares gained 2.87% to close at $17.95 yesterday.