New Street Research - China Tower Corp Ltd (788) New Street: China Tower (Buy, TP: HK$1.2, +31%) Q1 22: Mixed results but a better overall quarter

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New Street Research

Chris Hoare

EUR 8818.00 For Business Accounts Only

New Street: China Tower (Buy, TP: HK$1.2, +31%) Q1 22: Mixed results but a better overall quarter

China Tower reported a mixed set of 1Q22 results as EBITDA growth slowed while revenue growth was decent, trending up 7% YoY, from 5.4% in 4Q21. We are hosting a small group call with the company tomorrow at 8am ET/1pm London, 8pm HK/SIN, 10pm SYD. Please register via your NSR salesperson if you would like to attend.

20/04/2022 1 EN

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China Tower Corp Ltd

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New Street Research

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:

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Chris Hoare

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New Street: China Tower (Buy, TP: HK$1.2, +31%) Q1 22: Mixed results but a better overall quarter

Chinese Telcos & Towers Outlook 2024 – Expect another good year for the telcos

China Tower (Buy, TP: HKD 1.7, +136%) Q3 23 Quick Take: Better overall; robust bottom line again

EM Tower Trends Faster quarter in Africa and Indonesia; IHS’ MTN Nigeria contract non-renewal is a negative for the EM Tower space; Q2 CY23 review

Nvidia: H20 exports to China banned. Walking on eggs.

Will Another Trump Call for the FCC to Revoke the CBS Licenses Work?

Tariffs & Broadcom: the baseline & what’s next:

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