China Unicom (762.HK) tumbled 11% during regular trading to HK$5.580, touching a 52-week low amid sharp intraday selling pressure.

The decline followed the release of first-half 2026 results. Revenue edged up 0.6% year-on-year to RMB 201.4 billion, but net profit attributable to shareholders slumped 34.8% to RMB 4.1 billion, with total profit down 36.6% at RMB 11.2 billion. The company also announced it will not pay an interim dividend for fiscal 2026 — the first such omission in six years — adding to selling pressure.

At its results briefing, management attributed the profit volatility to shifts in labor-cost timing and said full-year staffing expenses are expected to stabilize, narrowing the profit decline. Capital expenditure reached RMB 24.1 billion in the first half, with computing-power investment rising more than 80% year-on-year to account for 37% of total capex, and intelligent-computing capacity exceeding 45 EFLOPS.