---
title: "CLSA Cuts CHINA UNICOM  TP to HKD6.5 on Disappointing 1H Results"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296432244.md"
description: "CLSA cut China Unicom's target price to HKD6.5 from HKD8.8 and lowered its net profit forecast by 31% due to disappointing H1 results, including a 35% YoY drop in net profit. While computing power revenue grew 13%, higher capital expenditure and weaker balance sheet strength pose risks. The broker maintained an 'Outperform' rating despite concerns over dividend sustainability."
datetime: "2026-08-20T04:06:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296432244.md)
  - [en](https://longbridge.com/en/news/296432244.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296432244.md)
generator: "portal-rs"
---

# CLSA Cuts CHINA UNICOM  TP to HKD6.5 on Disappointing 1H Results

CLSA issued a research report stating that CHINA UNICOM (00762.HK) +0.220 (+4.004%) Short selling $42.90M; Ratio 2.419% 's results for 1H26 were disappointing. Service revenue fell 0.2% YoY, while net profit declined 35% YoY. The computing power business became a new growth driver for the company, with revenue rising 13% YoY, although the business also requires higher capital expenditure. The broker believes the absence of an interim dividend declaration may reflect rising capital expenditure.

The broker cut its net profit forecast for CHINA UNICOM (00762.HK) +0.220 (+4.004%) Short selling $42.90M; Ratio 2.419% this year by 31%. Taking into account higher value-added tax, capital expenditure and dividend risks, it lowered the company's TP from HKD8.8 to HKD6.5, while maintaining an "Outperform" rating. The broker added that CHINA UNICOM (00762.HK) +0.220 (+4.004%) Short selling $42.90M; Ratio 2.419% has the weakest balance sheet among the three major telecom operators, and its ability to support dividends is also relatively weaker. (sl/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-19 16:25.)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**