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王浩賢先生(Simpson Wong)
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對投資期權及沽空擁有豐富實戰經驗。 深入了解各類衍生工具的應用。 歡迎各位來電互相交流心得。
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香港電訊(6823.HK) 內外夾擊下的穩健選擇

Monday, September 23, 2019 Views455

香港電訊 (6823.HK) 公布截至6月底止半年,純利按年增加16%至21.62億元;每單位基本盈利為28.55仙。每單位中期分派為30.01仙,上年同期派29.12仙。

 

上半年公司服務收入按年增1%至138億,主要受電訊服務及流動服務增長帶動。ARPU為198元,按年增加2%。6月底,後付客戶人數有輕微增長,達到324.7萬名,總客戶人數為459.2萬名,按年增加9%。

 

在5G業務方面,香港電訊相信頻譜底價合理,對行業發展正面,公司計劃在2020年第二季推5G服務,將透過非獨立組網(NSA)方式配合現有4G網絡推行,管理層重申其資本開支與銷售比例低於10%,將平衡5G投資及其經調整資金流增長目標。

 

香港經濟目前正受到中美貿易摩擦等外圍負面因素及本地的不利氣氛所困擾。香港電訊作為香港首屈一指的電訊服務供應商及領先的固網、寬頻及流動通訊服務的營運商,有其穩健的電訊業務優勢。從近3個月股價表現來比較,香港電訊跑贏恆指、REITS、公用股,可見其抗跌力及穩定性相當不俗。追求穩定回報的投資者考慮加入其組合內。

 

買賣策略: 可$12.24元買入,股息率: 5.7%,目標價$13.50,若收市計跌穿$11.90,先行止蝕離場。

 

 

資料來源:
1) 2019年業績報告

 

註:本人王浩賢為證監會持牌人士。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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