South-to-north Water Diversion Project | Net selling of over 7.1 billion yuan in South Water's A shares, selling 0.374 billion yuan of Moutai; North Water increased China Mobile's position.
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Northbound trading activity | Net sold 1.041 billion shares by northbound investors. Tencent (00700) released its performance report after the closing, and was sold off by more than 0.1 billion Hong Kong dollars before its results.
On August 14th, the Hong Kong stock market had a net sell of 1.041 billion Hong Kong dollars by Northbound investors, of which the Hong Kong stock connect (Shanghai) had a net sell of 0.895 billion Hong Kong dollars and the Hong Kong stock connect (Shenzhen) had a net sell of 0.146 billion Hong Kong dollars.
Research report golden ⎼ China Securities Co., Ltd.: China Mobile's performance is steadily growing, maintaining a "buy" rating.
According to the CITIC Construction Investment Securities Research Report, China Mobile (600941.SH)'s performance has been growing steadily, and dividend returns are still attractive. Revenue for the first half of the year reached 546.7 billion yuan, up 3.0% year on year, and net profit to mother was 80.2 billion yuan, up 5.3% year on year. The company's overall operations have remained steady. In terms of the individual market, against the backdrop of slowing traffic growth, the company is strengthening the integrated operation of applications, rights, and terminals to maintain a stable individual market; in the household market, while promoting the continuous penetration of gigabit broadband, it strengthens the “smart home+ content” drive to enhance the comprehensive ARPU of the home market; in the government and enterprise market, it continues to deepen
[Brokerage Focus] Galaxy Securities: National integrated computing power system infrastructure expected to be strengthened.
Galaxy Securities said that the supply and demand of the algorithm network industry chain are both increasing, and high-quality symbols in sub-industries with improved prospects should be preferred. In the context of the digital economy's continuous pursuit of AI+ action and the empowerment of new applications on the industry, the new national integrated computing power system infrastructure is expected to be consolidated. The communication+AI new infrastructure industry chain is expected to have a higher expected growth rate, the ICT cornerstone optical network industry chain has double increase in supply and demand, the new technology of liquid cooling empowers the construction of data centers, and the operating performance of sub-industries is expected to marginally improve: there are great opportunities for submarine cables to go offshore, leading companies are expected to benefit first; operators improve quality and efficiency, high dividend payments bring out the value, and the reform of central governm
Northbound capital movement: Net buying of 1.918 billion yuan; China Mobile (00941) received buying from domestic investors; Hong Kong stock ETF was sold off again.
On August 13th, the Hong Kong stock market saw a net buying of 1.918 billion Hong Kong dollars by the northbound funds, in which the Shanghai-Hong Kong Stock Connect had a net buying of 1.262 billion and the Shenzhen-Hong Kong Stock Connect had a net buying of 0.656 billion.
China Mobile Shares Look Undervalued -- Market Talk
HKEX Moves | Three major telecom operators rebound collectively, industry profit margin is expected to continue to improve, and factors such as shareholder returns are still attractive.
The three major mobile operators have rebounded. As of press time, China United Network Communications (00762) rose by 3.52%, to HKD 6.18; China Telecom (00728) rose by 2.38%, to HKD 4.3; and China Mobile (00941) rose by 1.9%, to HKD 72.25.
Northbound funds are active|Net buying of 4.346 billion by Northbound funds. Domestic investors increased their holdings in Hong Kong stocks ETF and there is a significant divergence of telecommunication sector.
On August 12, in the Hong Kong stock market, the net buying volume of Beishui amounted to 4.346 billion Hong Kong dollars, of which the net buying volume of Hong Kong stock (Shanghai) was 2.691 billion Hong Kong dollars, and the net buying volume of Hong Kong stock (Shenzhen) was 1.655 billion Hong Kong dollars.
[Brokerage Focus] Citic Sec points out that Lumen has received a large order driven by AI for long distance transmission demand.
According to CITIC Securities, Lumen Technologies (LUMN US) significantly raised its free cash flow forecast for FY 2024 in the latest financial report in June. It also stated that it has received $5 billion in orders, mainly from technology giants' demand for AI datacenter interconnectivity. The bank believes that this is mainly because individual data centers are no longer able to cope with the expanding computing power cluster. Currently, mainland cloud providers' AI capital expenditures are also in a high-growth phase, with growing cluster size and data volumes also driving demand for DCI and other long-distance fiber optic transmission.
HK stocks fluctuate | China United Network Communications (00762) fell more than 5%, leading the decline in telecommunication sector. Institutions said that the performance of Chinese telecommunication stocks will be relatively weak in the first half of t
Telecommunication sector continued to decline early this morning. As of press time, China United Network Communications (00762) fell 5.05% to HKD 6.02; China Telecom (00728) fell 2.84% to HKD 4.11; China Mobile (00941) fell 0.35% to HKD 71.05.
[Special Guest] Deng Shengxing: It's difficult for Hong Kong stocks to reverse their weakness and they are hovering around 17,000 points.
The Hang Seng Index closed at 17090 on Friday (9th), up 198 points or 1.17%. The total daily turnover of the market was 88 billion yuan. The China Enterprises Index rose 76 points or 1.29% to 6017. The Hang Seng Tech Index rose 70 points or 2.1% to 3436. Tencent (00700) rose 0.5% to 370 yuan, with a leading turnover of 6.077 billion yuan. China Mobile (00941), the second largest turnover after releasing its results, fell 1.3% to 71.3 yuan. China Unicom (00762) fell 3.8%, the worst performing blue chip. Li Auto Inc (02015) rose 5.4%, the best performing blue chip.
South-to-North Water Transfer reduced holdings of multiple technology stocks, while North-to-South Water Transfer has been net buying Tencent for 12 consecutive days and selling China Mobile and China Telecom.
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Northbound capital trend | Northbound capital's net buy of 2.278 billion, double winners of wafer foundry performance, received additional buying. Telecommunication sector stocks collectively experienced sell-offs by domestic institutional investors.
On August 9th, the Hong Kong stock market had a net buy of 2.278 billion Hong Kong dollars in Northbound trading. Among them, the net buy of Hong Kong Connect (Shanghai) was 1.329 billion Hong Kong dollars, and the net buy of Hong Kong Connect (Shenzhen) was 0.949 billion Hong Kong dollars.
Jefferies Adjusts China Mobile's Price Target to HK$101.39 From HK$101.69, Keeps at Buy
Research Reports | CICC: China Mobile's net income in the first half of the year has grown well, maintaining the "outperform industry" rating for A and H shares.
According to research reports from China International Capital Corporation, China Mobile's revenue in the first half of the year was slightly lower than expected, mainly due to a decline in personal market revenue compared to the previous year; due to better-than-expected control of network operating costs, net income increased significantly in the first half of the year. It is believed that mobile ARPU is expected to recover from the 1H performance for the whole year. The company actively creates new growth points for smart home applications, and believes that household market revenue is expected to continue to achieve good growth. In addition, mobile cloud revenue maintains a fast growth rate, with a 1H24 political and enterprise market revenue of 112 billion yuan, a year-on-year increase of 7.3%. The company's management expects accounts receivable to improve in the second half of the year, and believes that the improvement in accounts receivable for the whole year is expected to promote the company's grow
BOCI Securities: Reiterates "buy" rating for China Mobile, target price lowered to HKD 82.
BOCI Research has released a report reiterating a 'buy' rating on China Mobile (00941). Although traditional telecommunication services may continue to slow down, it maintains a positive view on the development of AI and cloud-driven business for government and enterprise. The target price has been lowered to HKD 82. The report states that the company has achieved excellent performance in a difficult market. Despite the slowdown in the traditional telecommunications service market, its performance in the first half of the year was still good, with a mid-term profit growth of 5.3% YoY, an increase of 7% in dividends per share compared to the same period last year, and a 21% reduction in capital expenditure during the period, while achieving large-scale construction of 5G networks and AI computing power layout.
Credit Suisse: Maintains a "buy" rating on China Mobile, with a target price of HKD 101.39.
Fitch Ratings released a research report stating that it maintains a 'buy' rating on China Mobile (00941) with a target price lowered from HKD 101.69 to HKD 101.39. The company has announced a mid-year dividend of HKD 2.6 per share, a 7% YoY increase, equivalent to a dividend yield of 63.3%, up from 62.5% YoY. Management has committed to paying a higher dividend this year compared to the previous year's 71%. The bank expects a dividend payout ratio of 72% this year, while the company announced last year that it will strive to achieve a 75% dividend payout ratio within three years. The bank believes that the company's second-quarter profit outperformed expectations and expects revenue growth to slow down in the second quarter, but will be offset by operating expenses and non-operating items.
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.
Furui: Maintains a "buy" rating for China Mobile (00941), with a target price of HKD 101.39.
Furui material china mobile (00941) dividend payout ratio can reach 72% this year.
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.
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