《大行報告》花旗引述中移動(00941.HK)指去年派息比率指引維持70%或以上 料資本支出趨降
中移動(00941.HK)今早股價向上,半日股價上揚2.6%收65.7元。花旗發表報告表示,中移動管埋層參與了該行所舉行中國科技與電信企業日,引述中移動管理層維持2023年派息比率70%或以上指引,隨著5G網絡相關投資的減少,料資本支出將呈下降趨勢,至2025年資本支出與銷售比率會降至20%水平,預計5.5G網路會有一定的資本支出投資,但該領域資本支出投資總額可能相當有限。
中移動管理層維持雲端收入800億元人民幣指引,對雲端業務成長空間仍持樂觀態度,料可受益於中國數位化趨勢發展。
公司管理層指6G規劃方面,其實際商用仍需要更長的時間,因為歷史上3G到4G等技術的升級週期需要五年。管理層預計6G商業化可能會在2030年或更長時間開始。而花旗維持對中移動「買入」投資評級及目標價77元。(wl/k)
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