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Hong Kong stocks fluctuate | Telecommunication sector under pressure, China Mobile (00941) revenue growth slows down in the first half of the year, Lyon expects weak midterm performance of the industry.
The telecommunication sector is under pressure. As of press time, China Telecom (00728) fell 3.18% to HKD 4.26; China United Network Communications (00762) fell 2.88% to HKD 6.4; China Mobile (00941) fell 1.8% to HKD 70.95.
China Telecom (00728) fell 3.18% as the three major telecom operators came under pressure. Institutions predict that the industry's performance in the first half of the year may be relatively weak.
Jinwu Finance News | The three major telecommunications operators are collectively under pressure, with China Telecom (00728) falling by 3.18%, China Unicom (00762) falling by 2.88%, and China Mobile (00941) falling by 2.56%. On the news side, Citic Lyon issued a performance outlook for the telecommunications industry in the first half of 2024: growth is expected to slow down. The bank pointed out that Chinese telecom operators have benefited from potential dividend and tax reductions, and their performance has been remarkable so far this year. However, the bank believes that in the current economic downturn, governments and companies have postponed their information technology spending, so it is expected that the performance in the first half of 2024 may be weak.
China Telecom to Review Interim Results and Dividend
China Telecom (00728.HK) held a board of directors meeting on August 20 to approve the interim performance.
China Telecom (00728.HK) announced that the company's board of directors meeting will be held on August 20, 2024 (Tuesday) to approve the mid-year performance of the company and its subsidiaries up to June 30, 2024, including consideration of the distribution of mid-year dividends (if any).
CHINA TELECOM: DATE OF BOARD MEETING
[Brokerage Focus] CITIC Securities: Expects the growth of the telecommunications industry to slow down in the first half of 2024.
Jingu Financial Information | CITIC Lyon releases performance outlook on the telecommunications industry for the first half of 2024: growth will slow down. The bank pointed out that Chinese telecom operators have benefited from potential dividend tax reductions and have achieved considerable performance so far this year. However, the bank believes that in the current economic downturn, governments and enterprises have postponed spending on information technology, so it is expected that the performance of the first half of 2024 will be weak, and the growth of total service revenue will slow down to 3-4%. The revenue growth of China Mobile (00941) in industrial internet (cloud computing, IDC and big data) will slow down to double digits, while that of China Telecom (00728)
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