Market Brief

The articles are produced in Chinese only.

Author

陳招富先生 (Anthony Chan)
經理

現任職輝立經理,樂意與客戶研究買賣策略。歡迎各位來電交流心得
Phone:
22776655

中國移動有限公司 (941)

Tuesday, September 27, 2022 Views5481

中國移動(00941.HK)


公司簡介 :

集團主要業務是在中國內地及香港提供移動電信及相關服務(就本合併財務報表而言,中國內地不包括香港、中國澳門特別行政區及台灣)。 


收入利潤保持雙位數增長

2022 年上半年,公司實現營收4969 億元,歸母淨利潤703 億元,剔除上年同期2G 設備等固定資產 殘值率調整影響後同比增長7.3%,EBITDA 1739 億元,每股收益 3.29 元。


5G用戶有增長


個人市場方面,新增5G套餐客戶1.24億戶,總數達5.11億戶;在5G 快速遷轉及數字生活消費的拉動下,移動ARPU 穩健增長,達52.3元/戶/月。


家庭市場方面,家庭寬頻客戶及綜合ARPU持續穩健增長,客戶數淨增1241萬戶至2.30億戶,綜合ARPU同比增長4.6%達43.0 元/戶/月。

潛在風險

1.5G建設不及預期

2.5G用戶推廣不及預期

3.運營商成本精細化管理力度不及預期

4.政企業務及雲業務不及預期

5.疫情因素影響

筆者建議可分二注作出吸納,第一注為49.8港元,第二注為47.4。上望3份高位的52.4港元。止蝕位訂為46.00港元。


註:本人陳招富為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益。

This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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