Morningstar - China Unicom (Hong Kong) Limited (00762) China Unicom Coming Back in the Mobile Market but Being Dominated in Fixed Broadband

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Morningstar

Dan Baker

EUR 101.80 For Business Accounts Only

China Unicom Coming Back in the Mobile Market but Being Dominated in Fixed Broadband

We maintain our existing forecasts but raise our fair value estimate for China Unicom to HKD 10.60 (USD 13.50 per ADR) from HKD 10 (USD 13 per ADR) due to a strengthening Chinese yuan. We make no changes to our narrow moat rating on China Unicom based on cost advantages or our negative moat trend based on the companyâ€™s declining technology advantage as the market moves away from 3G mobile. For stocks leveraged to the Chinese telecom industry, we would prefer China Mobile and China Telecom, given...

22/01/2018 14 EN

Underlying

China Unicom (Hong Kong) Limited

China Unicom (Hong Kong) is an investment holding company. Through its subsidiaries, Co. is a telecommunications operator in China. Co. is engaged in providing mobile voice, fixed-line voice, fixed-line broadband, data communications and other telecommunications services to its customers.Co. is engaged in the provision of cellular and fixed-line voice and related value-added services, broadband and other Internet-related services, information communications technology services, and business and data communications services. The GSM cellular voice, WCDMA cellular voice, TD-LTE cellular voice, LTE FDD cellular voice and related value-added services are referred to as the .mobile business.

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HK0000049939 Hong Kong Stock Exchange Hong Kong

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Dan Baker

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China Unicom Coming Back in the Mobile Market but Being Dominated in Fixed Broadband

Chinese Telcos Q1 25 review: Better profitability despite slower topline

China Unicom (Buy, TP: HK$ 13.2, +52%) Q1 25 Quick Take: Slower revenue growth but better profit trends

Chinese Telcos Q4 24 review: Still growing; continued fall in absolute capex positive for dividends

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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