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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)
Lyon: believes that the profit margin of Chinese telecommunication sector can be sustainably improved, maintaining the "outperform the market" rating of the three major Chinese telecommunication sector stocks.
Lyon is bullish on the highest dividend yield of China Mobile (00941) at 7%, followed by China Telecom (00728) at 6%.
China Tower (00788.HK) will lease transmission and cloud resources to China United Network Communications and China Telecom.
On August 7th, Guolonghui reported that China Tower (00788.HK) announced that the company has entered into a framework agreement with China United Network Communications Group Co., Ltd. on August 7, 2024. According to the framework agreement, the Group will lease transmission resources and cloud resources, including but not limited to communication circuits, communication equipment, cloud dedicated lines and cloud equipment, from China United Network Communications Group Co., Ltd., and the lease term will be from August 7, 2024 to December 31, 2026. The company also entered into a framework agreement with China Telecom Group Co., Ltd. on August 7, 2024, according to the China Telecom Group Co., Ltd. framework agreement.
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