Goldman Sachs’ research report stated that CHINA TOWER (00788.HK) +0.080 (+0.725%) Short selling $10.24M; Ratio 21.744% reported 1Q25 results in line with prior guidance, with revenue and net profit hiking 3.3% and 8.6% YoY, respectively. Investors were generally watchful of the decelerating growth in dividend payout and declining 5G-related capex by telecom operators. As most tower assets reach their depreciable life, reduced depreciation expenses were expected to drive an immense one-time net profit growth in 2026, with total depreciation costs projected to fall RMB6 billion, boosting 2026 net profit by 45% YoY.Related NewsM Stanley Lowers 2025/ 2026 Earnings Forecasts for CHINA TOWER (00788.HK), Cuts TP to $12With an estimated dividend payout of 76.5%, Goldman Sachs projected China Tower’s 2026 dividend yield at 6.6%, comparable to CHINA MOBILE (00941.HK) -0.300 (-0.368%) Short selling $51.43M; Ratio 8.541% and CHINA UNICOM (00762.HK) +0.060 (+0.683%) Short selling $7.03M; Ratio 4.674% . Following 1Q25 results, Goldman Sachs trimmed its 2025-27 revenue forecasts on China Tower by 0.8%/ 1.4%/ 1.4%, and net profit forecasts by 3.7%/ 4.1%/ 4.3%, respectively. The target price was cut from RMB13 to RMB12.5, with a Neutral rating.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-04-29 12:25.)