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<Research>BOCI: CHINA TELECOM 3Q Results Largely In Line w/ Margin Improvement; Company Hails Higher AI Demand
Recommend 7 Positive 11 Negative 8 |
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BOCI released a report on stating that CHINA TELECOM (00728.HK), which charted a 3.6% YoY upswing in profit for 3Q25, slightly below the broker's expectations, with service revenue growing only 0.5% YoY. The group's EBITDA margin for 3Q25 improved by 0.6 ppts YoY to 29.9%, with opex shedding; depreciation and amortization expenses grew 3% YoY, indicating excess capacity in its AI cloud infrastructure, which is crucial for meeting the booming demand for full domestic IP/ Hardware AI cloud. BOCI reaffirmed Buy on CHINA TELECOM, maintaining the target price at HKD9.84. CHINA TELECOM remained the broker's top pick among Chinese telecoms. AASTOCKS Financial News Website: www.aastocks.com |
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