大行評級丨瑞銀:看好內地三大中資電訊股H股 仍首選中國電信
瑞銀髮表報吿,看好內地三大中資電訊股H股,因為美國及中國利率環境已見頂或下降,相信電訊行業10%以上的總回報率看來仍具吸引力,包括今年6%至7%的股息率加上3%至10%的盈利增長。瑞銀預計今年內地電訊產業服務營收按年增長2%,低於去年的2.5%,原因在於宏觀利空因素以及電信業者專注於盈利能力。對於中國移動、中國電信、中國聯通,預計服務收入分別按年增長1.9%、2.2%及2.3%,純利分別按年增長3.3%、6.6%及12%。派息率將增加至74.5%、73%及60%,相較於去年的73%、71.5%及58%,意味着今年股息率分別為7%、6.1%及6.7%。在內地三大中資電訊股中,瑞銀首選仍然是中國電信,原因是固定或流動捆綁服務產品令流動市場佔有率上升,加上消費者及企業業務的收入貢獻均衡,令利潤率穩定,因此盈利壓力相對較小。
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.