Bank of China International released a research report stating that it reaffirmed China Mobile's (00941) “buy” rating. Although traditional telecommunications services may continue to slow down, they maintain a positive view on the development of AI and cloud-driven government and enterprise services, and the target price was lowered to HK$82.
According to the report, the company achieved excellent results in a tough market. Despite the slowdown in the traditional telecommunications service market, its performance in the first half of the year was still positive. Mid-term profit increased 5.3% year-on-year, dividend per share increased 7% compared to the same period last year, capital expenditure decreased by 21% during the period, and large-scale construction of 5G networks and AI computing power layouts was achieved.