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里昂料内地电讯股上半年业绩不理想
格隆汇 07-24 11:50

里昂发表研究报告指,料内地电讯股上半年业绩不理想,第二季成绩较首季差。三大电讯商次季的综合服务收入料按年跌1%,受累4G市场成熟、无限数据计划、以及数据漫游收费取消政策。

报告指,料中移动(00941.HK)上半年业绩将会是最差,总服务收入及盈利分别按年跌1.7%及7.6%,达到3,500亿元人民币及607亿元人民币。中电信(00728.HK)第二季业绩将会跑赢,但盈利或按年仅增3.5%至81.5亿元人民币;联通(00762.HK)第二季业绩料亦疲弱,总服务收入按年跌1.5%至668亿元人民币及盈利升26%至37亿元人民币。

该行指,5G发牌及流动增长疲弱下,中移动已加快5G部署目标,其5G网络目标是覆盖所有县级以上城市。电讯商2020年的资本开支料将按年增加25-30%,用作5G部署及流动电话收入重拾增长。不过里昂对电讯行业感审慎,相信在5G发展起飞前,今年下半年及明年上半年仍受压。只有联通受惠提升4G覆盖能力,下半年或见到流动业务改善。

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