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Morgan Stanley: Raises CHINA TELECOM (00728) Target Price to HKD 6.50, rating "Shareholding".
The bank stated that CHINA TELECOM (00728) reported a 0.3% year-on-year growth in service revenue in the first quarter of 2025, on par with industry peer CHINA MOBILE (00941), but slower than China United Network Communications (00762).
Analysis of Zhitong Hong Kong Stock Connect Holdings | May 7
Analysis of Hong Kong Stock Connect holdings | May 6, 2025
Goldman Sachs: Maintains "Buy" rating for the three major telecom operators, expecting that the decline in cash flow in the first quarter will have a controllable impact.
Goldman Sachs released a Research Report stating that the revenue and net profit growth of Chinese telecommunications stocks in the first quarter has slowed compared to 2024, but this is within the bank's expectations. The performance shows a significant decline in operating cash flow, mainly impacted by a notable increase in accounts receivable, which is related to the shift in telecom companies' business models towards enterprise business (cloud/ICT projects). However, a reduction in capital expenditure and an increase in accounts payable are expected to offset this negative impact and stabilize free cash flow from 2025 to 2026. Moreover, cash flow exhibits a seasonal pattern, with cash recovery from accounts receivable primarily concentrated in the second half of the year. Overall, the bank believes that Chinese telecommunications companies still possess.
After ongoing fluctuations, the market may be nearing a directional choice, with the AI, Siasun Robot&Automation, and other Technology growth sectors likely to rebound.
Looking back at the market situation before the festival, the market has been in a state of fluctuating consolidation, and the atmosphere of market observation remains quite strong.
Special contributor Guo Jiayao: It is expected that the Capital Trend will be favorable for the market to further challenge the resistance at 23,000 points.
Jinwu Financial News | The US stock market declined on Monday, with continued concerns about the trade war. After opening lower, the market's losses initially widened, saw a brief recovery in the middle of the day, but then fell again towards the end, with all three major indices closing down. The US dollar weakened, and the yield on the ten-year US Treasury rose to 4.34%. Gold prices showed a positive performance, while oil prices remained under pressure. The Hong Kong stock market's pre-market securities showed mild improvement, and it is expected that the market will open higher in early trading. The mainland stock market showed mixed developments before the holiday, with the Shanghai Composite Index opening high but closing down by 0.2%, and trading volume in the Shanghai and Shenzhen markets showed a moderate increase. Last Friday, the Hong Kong stock market performed positively, with the index fluctuating in early trading, turning from a decline to a gain, peaking at 22,500 points.
Analysis of Zhitong Hong Kong Stock Connect Holdings | May 5th.
Analysis of Hong Kong Stock Connect holdings | May 2, 2025
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