HS-CTEL@EC2602A(19788.HK)

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HS-CTEL@EC2602A

19788.HK

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News

Will the increase in VAT rates lead to price hikes for China Mobile, China Unicom, and China Telecom?

On February 1st, China Mobile, China Unicom, and China Telecom announced that the value-added tax rate would be adjusted from 6% to 9%, which will affect the company's revenue and profits. As a result of this news, on February 2nd, the stock prices of the three major operators collectively fell, with a total market value decrease of over 100 billion yuan. Analysts pointed out that the tax rate increase may compress post-tax net profits, thereby affecting dividends and shaking the valuation foundation of the operators

Wallstreetcn·2 Hours ago

Wallstreetcn·2 Hours ago

Citi from "The Big Banks": Expects VAT adjustments to have a potential impact of about 3% on the service revenue of the three major telecom operators

Citigroup's research report indicates that starting from January 1, 2026, the value-added telecommunications service tax categories for China Mobile, China Telecom, and China Unicom will be adjusted, with the VAT rate increasing from 6% to 9%. This adjustment is expected to have a potential impact of about 3% on the service revenue of the three major telecommunications companies. Citigroup believes that operators may not pass the increased tax burden onto consumers, and if service revenue declines, it could lead to a deleveraging effect. The impact on dividend distribution needs further observation

AASTOCKS·3 Hours ago

In "The Big Banks," CITIC Securities expects that the stock prices of Chinese telecommunications companies will be under pressure in the short term

CICC's report points out that due to the increase in value-added tax on telecommunications services by the Ministry of Finance and the State Administration of Taxation, the stock prices of Chinese telecommunications companies may be under pressure in the short term. Assuming operators do not pass the tax burden onto customers, the decrease in after-tax revenue will affect profits. CICC has lowered its revenue and net profit forecasts for China Mobile and China Telecom for 2026, while maintaining its estimates for 2025. In the short term, the market needs to digest the changes in tax policy and profit outlook, and the target price has been adjusted downward

AASTOCKS·3 Hours ago

The VAT rate jumps by 3 percentage points! The three major telecom operators are under short-term pressure; can new productive forces break the deadlock in the long term?

On January 30, 2026, China announced an increase in the value-added tax rate for the telecommunications industry from 6% to 9%. This policy will impact the revenue and profits of China Mobile, CHINA TELECOM, and CHINA UNICOM, leading to a significant drop in stock prices. The expected impact on the profits of the three major operators ranges from 5% to 32%, with revenues projected to decline by approximately 2.75%. Due to intense market competition, operators will find it difficult to pass on the revenue reduction pressure to users, resulting in a direct negative impact on net profits in the short term

Wallstreetcn·Yesterday at 18:04

Wallstreetcn·Yesterday at 18:04

The three major A-share indices of Shanghai and Shenzhen fell by 2.5% to 2.7% throughout the day, with telecommunications, oil, gold, and semiconductor stocks all under pressure

The three major A-share indices fell by 2.5% to 2.7% throughout the day. The mainland manufacturing PMI dropped to 49.3, and the non-manufacturing PMI also fell to 49.3, hitting a three-year low. The People's Bank of China conducted a reverse repurchase operation of 75 billion yuan, and the central parity rate of the yuan against the US dollar was lowered to 6.9695. The Shanghai Composite Index closed down 102 points, the Shenzhen Component Index fell 381 points, and the ChiNext Index dropped 82 points. Telecommunications, oil and gold, and semiconductor stocks were generally under pressure, Vanke expected an expanded loss, and the stock prices of the three major telecommunications companies declined

AASTOCKS·Yesterday at 15:26

AASTOCKS·Yesterday at 15:26