Damo: Maintaining China Unicom's (00762) H share “in sync with the market” rating and a target price of HK$7, net profit fell 31% year-on-year in the third quarter

The Zhitong Finance App learned that Morgan Stanley released a research report stating that it will maintain China Unicom (00762) H shares “in sync with the market” rating and a target price of HK$7. The company's service revenue in the third quarter fell 0.4% year on year to 82.9 billion yuan, and EBITDA fell 10% year on year to 22.8 billion yuan, mainly affected by changes in employee expenditure patterns; net profit fell 31% year on year to 3.8 billion yuan. On the business side, China Unicom's computing power revenue in the first nine months increased 12.2% year on year, IDC revenue increased 10.4% year on year, and the total capacity exceeded 3GW.