研報掘金丨海通證券:予中國聯通“優於大市”評級,價值區間7.2元-8.23元
海通證券研報指出,中國聯通(600050.SH)Q3淨利潤52.23億元,同比+7.54%,歸母淨利潤22.99億元,同比+7.75%。前三季度公司移動用户淨增1123萬户達到3.45億户,其中5G套餐用户達到2.86億户,滲透率為83%。物聯網連接數達到5.94億個,淨增近億個。同時,公司積極構建從安全運行到安全服務、生態繁榮的“大安全”體系,網信安全收入維持強勁增勢。公司預計全年營收將實現穩健增長,利潤總額雙位數增長,當前H股/A股對應股息率為5.8%/2.5%。參考全球主流電信運營商PB,給予2024年PB區間1.4-1.6倍,對應合理價值區間7.20元-8.23元,給予“優於大市”評級。
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