share_log

【兴业证券】中富通:增长正提速,一体化服务战略清晰

興業證券 ·  Jan 9, 2017 00:00  · Researches

The company mainly engages in communication network maintenance and network optimization services. Benefiting from the post-4G cycle and market expansion, the company's revenue and profit growth continues to accelerate; at the same time, the company's integrated communication network service strategy is clear, and the future layout is worth looking forward to. Grasp resources and establish a regional leader in network maintenance. The company is a leading communication network maintenance enterprise in Fujian Province. It has cooperated with the Fujian branch of Mobile, Unicom and Telecom for 11-14 years. It has fully grasped information on users' network structure, equipment distribution, etc., formulated targeted maintenance and optimization plans, and formed strong cooperative bonds with operators. The scale of the 3G\ 4G inventory network has reached its peak. As a post-cycle communication network industry, network maintenance will continue to benefit in the future, driving the company's steady growth. Rapid expansion into new markets and a clear integration strategy. The company is actively expanding its business in markets outside Fujian Province and overseas. Currently, it has successfully entered more than 10 provinces and cities including Shandong and Guangdong, as well as countries such as Thailand and Malaysia. The customer structure has also expanded from telecom operators and equipment vendors to radio and television operators, military forces, and municipal departments. At the same time, the company's future integrated service strategy for network optimization, maintenance, and testing is clear. On the basis of stabilizing the main business, the future layout is worth looking forward to. Profit forecast and valuation: The company's main business is growing steadily, and market expansion in new regions continues to advance, driving the company's revenue and profit growth to continue to accelerate. At the same time, the company's integration strategy is clear, and the future layout is worth looking forward to. It is estimated that the company's EPS from 2016 to 2018 will be 0.59 yuan, 0.73 yuan and 0.93 yuan respectively, covering the “increase in holdings” rating for the first time. Risk Warning: Telecom Operators' Capital Expenses Growth Rate Decline, Overseas Business Operation Risks

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment