CITIC Telecom provides telecommunications services in Hong Kong, Macau and other regions, including mobile services, Internet services, international telecommunications services, corporate services and fixed network voice services, as well as sales equipment and mobile phones. In 2014, by region, the group's revenue from Hong Kong accounted for 33.80% of the group's revenue and Macau's revenue share was 57.53%, while the main source of revenue in Macau came from Macau Telecom Limited (Macau Telecom), which accounted for 8.67% of the business revenue from other regions.

In 2014, the turnover of the mobile business increased by nearly 80% year-on-year. In addition to the full-year results of the merger of Macau Telecom, it was also due to the increase in mobile data usage and the ability of customized products to better meet customer needs. In terms of Internet business, even excluding Macau Telecom's annual results, the operating value increased by nearly HK$100 million, mainly due to an increase in optical fiber broadband services. In terms of international telecommunication services, the turnover fell by more than 10% due to severe conditions in the global voice wholesale market and a drop in service costs and traffic volume. In terms of corporate business, revenue increased by more than 30%, mainly due to an increase in professional services from the government and corporate clients. In terms of fixed-line voice services, excluding the impact of Macau Telecom's annual operations for the first time, revenue fell by about half, mainly due to a drop in the volume of global fixed-line long-distance telephone (IDD) calls and the slow replacement of residential fixed network lines by mobile communication services.

For the year ended 31 December 2014, the group's operating volume increased 35.97% year-on-year to HK$8.184 billion; of this, the operating volume from the provision of telecommunications services increased 25.63% year-on-year to HK$6.202 billion, mainly due to the first merger of group accounting and the increase in corporate business revenue; the operating volume of self-selling equipment and mobile phones increased 83.17% year-on-year to HK$1,982 million; stock sales and service costs increased 24.00% year-on-year to HK$4.88 billion; during the period, sales and service costs increased 24.00% to HK$4.88 billion; stock sales and service costs increased 24.00% year-on-year to HK$4.88 billion; stock sales and service costs increased 24.00% year-on-year to HK$4.88 billion; stock sales and service costs increased 24.00% year-on-year to HK$4.880 billion; stock sales and service costs increased 24.00% year-on-year to HK$4.88 billion; stock sales and service costs increased 24.00% year-on-year to HK$4.88 billion; stock sales and service costs increased 24.00% year-on-year to HK$4.88 billion; stock sales and service costs increased Toyo's profit decreased by 32.20% year-on-year to 32.20% HK$724 million; Excluding the one-time income obtained in 2013, mainly due to the acquisition of Macau Telecom and after deducting special items from the revaluation of 20% of the Group's original holdings of Macau Telecom and after deducting special items, the Group's shareholders' profit surged by about 30% year-on-year, mainly due to the acquisition of 99% of Macau Telecom's shares for the first time, and an increase in the Group's international corporate business.

CITIC Telecom's stock price started rising from around 2.3 yuan in late January. The 10-day moving average (line A) rose above the 20-day moving average (line B) and once rose to the level of 2.7 yuan. The stock price trend was good. The target price was set at 2.78 yuan, and the recommended purchase price was 2.52 yuan. If the stock price trend is not as expected and falls below the 2.39 yuan level, it will be necessary to stop the decline.

Based on the previous day's closing price of 2.57 yuan, CITIC International Telecom's estimated price-earnings ratio is 10.9 times. The Group expects to obtain a fourth-generation mobile communication (LTE) network license in Macau this year and start providing services to customers. In addition, the Group will launch data center services in Shanghai and Macau. It is anticipated that such operations will become a new growth engine for the Group, so investors can take advantage of this.