Guotai Junan International down from China Unicom to collection rating-sichen

Guotai Junan International: Chinese Unicom to collect ratings down hot column capital flows thousands of thousands of stocks the latest Rating Rating diagnosis simulated trading client sina finance App: Live on-line blogger to tutor Sina Hong Kong APP: real time market exclusive reference Hong Kong stocks also worth the investment? What is the problem? Where is the future? Sina launched the "Hong Kong Hong Kong stocks as well as unattractive" discussion, with a rational and constructive attitude, welcome attention to Hong Kong stocks, concern of the capital market, Hong Kong stocks together for suggestions, seek the Hong Kong stock market tomorrow. Please to hkstock_biz@sina. The first half of 2016 net profit fell 80%, due to an increase in the overall decline of mobile users and the cost of renting tower. Fixed network service (revenue grew 4.3%), as China Unicom main income growth momentum, and mobile business revenue fell 0.7%. We cut the 2016-2018 mobile 6.2% income 5.2% 5.4% respectively, down for mobile ARPU. In the first half of the 2016 mobile ARPU was 47.1 yuan, an increase of 1.7%, 4G ARPU was 81.3 yuan, down 7.4%. 4G ARPU lower than expected, we estimate that ARPU will be further affected by the market price war. Fixed line business will be the impact of China Mobile in the second half of the year. We expect the radical strategy taken by China Mobile to expand its market share will Chinese China Unicom constitute a stronger threat. We maintain 2016-2018 fixed income growth forecast 4.3% 5.3% 2.1%, due to the contribution of better data center. Cut investment rating to "accumulate" and target price from HK $12 to HK $10. We expect China Unicom business will rebound in the second half of the year, mobile ARPU 4G users because of depreciation growth, high savings, data center business contribution to better and better. The reduction in mobile phone subsidies and mobile APRU, respectively, down 2016-2018 forecast earnings per share 4.5% 5.1% 5.8%. The new target price is equivalent to 41.5 times 2016 earnings and 19.4 times 2017 earnings and 14.8 times 2018 earnings and 0.9 times 2016 city net rate. (both) into [shares] discuss Sina Finance

国泰君安国际:下调中国联通至收集评级 热点栏目 资金流向 千股千评 个股诊断 最新评级 模拟交易 客户端 新浪财经App:直播上线 博主一对一指导 新浪港股APP:实时行情 独家内参   港股还值不值得投资?出现了什么问题?未来出路在哪里?新浪港股发起“港股还有没有吸引力”大讨论,以理性、建设性的态度,欢迎关注港股、关注资本市场的人士,一起为港股建言献策,共谋港股市场的明天。来稿请至hkstock_biz@sina 。   2016年上半年净利同比下降80%,因整体移动用户的下降和塔租赁费用的增加。固网服务(收入同比增长4.3%),成为中国联通主要的收入增长动力,而移动业务收入同比下跌0.7%。   我们分别下调2016-2018年移动收入5.2% 6.2% 5.4%,因移动ARPU的下调。2016上半年移动ARPU为人民币47.1元,同比增长1.7%,4G ARPU为人民币81.3元,同比下降7.4%。4G ARPU低于预期,我们估计ARPU将进一步受市场价格战的影响。   固话业务在下半年将受到中国移动的影响。我们预计中国移动为扩大市场份额而采取的激进策略将对中国联通构成更强的威胁。我们维持2016-2018年固网收入增长速度预测4.3% 5.3% 2.1%,因数据中心更好的贡献。   下调公司的投资评级至“收集”及目标价从12.00港元下调至10.00港元。我们预计中国联通的业务将在下半年反弹,因4G用户的增长、较高的折旧减省、数据中心业务更好的贡献和更好的移动ARPU。由于手机补贴及移动APRU的下调,分别下调2016-2018年每股盈利预测4.5% 5.1% 5.8%。新目标价相当于41.5倍2016年市盈率、19.4倍2017年市盈率、14.8倍2018年市盈率及0.9倍2016年市净率。(双双) 进入【新浪财经股吧】讨论相关的主题文章: