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研报掘金丨浙商证券：维持中国联通“买入”评级，新兴业务正成为公司第二增长曲线

Zheshang Securities: Maintains its “buy” rating on China United Network Communications, with emerging businesses becoming the second growth curve of the company.

Gelonghui Finance ·  Aug 8 03:52

According to the research report of Zheshang Securities, China United Network Communications (600050.SH) recently held a partner conference. The conference mainly focused on computing power networks, artificial intelligence, digital innovation, cybersecurity, and ecological cooperation. It fully demonstrated the company's strategic upgrade and determination to develop new opportunities, and strengthen the investment logic of computing and networking digital business becoming the company's second growth curve. Facing the "smart new era", as the national team for digital information operation services and the pioneer of digital technology integration and innovation, telecom operators are expected to benefit from the development of new productive forces in China. New emerging businesses represented by computing and networking intelligence are becoming the company's second growth curve, continuously contributing to new growth drivers. According to the company's financial report, in the first quarter of 2024, the revenue of computing and networking intelligence business has increased to 26.1% of the main revenue, and the role of the main income engine in increasing revenue continues to become prominent. The company's innovative transformation has achieved remarkable results. In addition, in the middle and late stages of 5G, the telecom operator industry has clear goals for high-quality development, and is expected to enter a long return cycle with good policy environment, assessment orientation, market competition, and capital expenditure. Against this background, the performance growth expectation of telecom operators is expected to remain stable. Maintaining a "buy" rating.

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