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研報掘金丨浙商證券:維持中國聯通“買入”評級,新興業務正成為公司第二增長曲線

浙商證券研報指出,近日中國聯通(600050.SH)在舉辦合作伙伴大會,大會內容主要集中在算力網絡、人工智能、數智創新、網絡安全、生態合作等方向,充分展現了公司戰略升級、向新發展的決心,強化了算網數智業務成為公司第二增長曲線的投資邏輯。面向“智能新時代”,電信運營商作為數字信息運營服務國家隊、數字技術融合創新排頭兵,有望受益我國新質生產力發展。以算網數智為代表的新興業務正成為公司第二增長曲線,持續貢獻增長新動能。根據公司財報,2024年一季度,算網數智業務收入佔主營收入比例已提升至26.1%,增收主引擎作用持續凸顯,公司創新轉型成效顯著。此外,5G中後期,電信運營商行業高質量發展目標明確,有望步入政策環境、考核導向、市場競爭、資本開支拐點等因素均向好的長回報週期。在此背景下,電信運營商業績增長預期將有望保持穩健。維持“買入”評級。

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