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2026-10-26 15:13:28 JPMorgan released a research report stating that CHINA TELECOM (00728.HK)'s net profit for 3Q fell 14.7% YoY to RMB6.6 billion, while service revenue declined 1.5% YoY to RMB115.2 billion, broadly in line with market expectations. The YoY declines in service revenue and operating profit narrowed from 2Q's 2.6% and 16.7%, respectively, to 1.5% and 14.1% in 3Q. The broker noted that, excluding the impact of VAT item adjustments, CHINA TELECOM (00728.HK)'s operating revenue was broadly stable on a comparable basis, while net profit maintained solid growth, reflecting resilience in its core business with no deterioration in fundamentals seen. JPMorgan continued to believe the company's earnings could resume growth next year. JPMorgan added that CHINA TELECOM (00728.HK) maintained good spending discipline during the first nine months of this year, while healthy operating cash flow helped enhance capital capacity and support future dividends. The broker maintained its Overweight rating with a TP of HKD5.2, believing the expected dividend yield could reach around 6.2% in 2026, which it considered attractive. The broker preferred CHINA MOBILE (00941.HK), citing more resilient earnings this year and a higher dividend yield of 7%. (gc/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |