Narrow moat China Unicom Reports Disappointing 1H16 Results as it Tries to Turn the Business Around
China Unicom is turning around its customer momentum in the face of fierce competition in the mobile market. Its revenue is responding but the cost of customer acquisitions is hurting its profitability. China Unicom’s first-half 2016 services revenue was up 1.4% with EBITDA down 18% and net profit down 80%. Second-quarter services revenue was up 1.8% with EBITDA down 15%.ÂOn the back of this result, we decrease our EBITDA forecast by 6% for 2016 and less for outer years with our fair value fall...
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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