You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
富瑞:中移動(0941.HK)上季業績符預期,削目標至64.67港元

富瑞發研報指,中國移動(0941.HK)去年第四季收入及純利均符合預期,而EBITDA達8%的增速勝預期外,更是內地三大電訊商中最高。此外,管理層表示將繼續進行股票回購,但沒有承諾金額。但它近年來缺乏進取的資產註銷意味着在雙位數的D&A(折舊與攤銷)增長下,每股盈利增長可能較中電信(0728.HK)有所放緩。該行將其目標價由70.47港元下調8.2%至64.港元,評級“買入”,排名仍依次爲中電信、中移動、中聯通(0762.HK)。

報告指,中移動宣佈去年全年派息4.06港元,按年增長23.4%,不僅與中電信去年60%的派息率相當,而且承諾在3年內將其提高到70%,令市場感到驚喜。報告最新預測,未來3年中移動的收益率將分別爲7.7%、9.7%及10.7%;認爲中移動可能會爲中電信帶來壓力,令其在今年下半年回購H股。

報告又提到,中移動今年的資本支出指引爲1852億元人民幣,按年僅增長0.9%,較該行及市場預期高約2%,增幅不如中電信和聯通進取。但其資本支出結構與中電信相似,將下降5G資本支出,但提升傳輸及基礎設施的開支。其數據中心的資本支出計劃達58億人幣,以增加4萬個IDC機架的容量,而落實國家“東數西算”工程部署。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account