报告名称：China Unicom(00762.HK)FY15 in-line; new 4G strategy to accelerate mobile turnaro
报告类型：港股研究
报告日期：2016-03-17
研究机构：招商证券（香港）
股票名称：中国联通
股票代码：CHU,00762
页数：9
简介：4Q15 largely in-line with service revenue/EBITDA decline of 4.3%/ 36.2% YoY, due to tariff cut, mobile sub churns and higher TowerCo/depre expense, partially offset by tower disposal gain
Positive on turnaround strategy: 1) accelerate 4G migration with indepth 4G coverage in 138 major cities, 2) TowerCo and CU/CT cooperation to boost significant capex/opex savings
Maintain BUY and DCF-derived TP of HK$12.21
下载地址：China Unicom(00762.HK)FY15 in-line; new 4G strategy to accelerate mobile turnaro
