New Street: Chinese Telcos & Towers Outlook 2022 – The year has started well and likely to get better
2021 saw revenue growth improve materially for the telcos largely driven by Enterprise. With Enterprise penetration still in the twenties, we expect this process to continue, leading to reduced margin pressure and accelerating profit growth. Share price response to better trends was disappointing in 2021, but 2022 has started well, with a $12.6bn buyback from China Mobile, and aggressive profit targets from China Unicom.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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