(Yicai Global) Oct. 20 -- China United Network Communications Ltd. [SHA:600050] (China Unicom) issued an earnings growth forecast yesterday, saying it expects to record a net profit of USD600 million (CNY3.96 billion) for the first three quarters, marking a 168.4-percent annual increase, with CNY1.3 billion of it attributable to its parent company.

China Unicom said that net profit growth benefitted from an increase in main business income and a decline in sales expenses and consumer incentives.

The company expects to report main business revenue of about CNY117 billion in the first three quarters, up 6.7 percent over the same period last year, and first-half business revenue increased 5.2 percent annually. The company's anticipated overall main business income of CNY187.9 billion for the first three quarters represents a 4.1-percent rise over the same period last year. First-half business income rose 3.2 percent.

China's three major domestic operators stopped charging domestic mobile roaming and long-distance fees Sept. 1. China Unicom said that it predicts its financial performance will face greater pressure in the fourth quarter because of this halt as well as intensified competition.

China Unicom introduced a mixed-ownership reform scheme in August to bring on external investors such as Tencent Holdings Ltd. [HK:0700] and Alibaba Group Holding Ltd. [NYSE:BABA]. The China Securities Regulatory Commission has approved the plan. Relevant funds are expected to be in place within the year, Wang Xiaochu, chairman of China Unicom's board, said earlier.