大摩:聯通(0762.HK)業績勝預期 維持增持評級
摩根士丹利發表研究報告指,中國聯通(0762.HK)第二季度服務收入及純利均優於市場預期,維持其增持評級,目標價6.5港元。
摩根士丹利指,中聯通早期用户的5G每用户平均收入升10%,6-7月移動服務收入轉正,按年分別增長1.6%及1%,公司計劃在下半年加快5G的發展。中聯通強調,不會以激進的價格吸引用户,並且會嚴格遵守手機補貼。該行引述管理層指,重申全年資本開支指引為700億元人民幣,其中5G為350億元人民幣,管理層認為,5G基站的建造數量有15%的上升空間,因為其價格低於預期。
該行指,公司上半年產業互聯網收入達到227億人民幣,按年增長36%,佔總服務收入的16.4%,預計其IDC機櫃在今年將按年增長18%至27.7萬個。管理層又指,已考慮將其IDC業務在A股科創版上市,惟實際行動需等待其收入規模變得更有意義。

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