Glonghui, January 26 | J.P. Morgan Chase released a report. The State Council's State-owned Assets Administration Commission stated that it is considering incorporating market value management into the performance evaluation index for state-owned enterprise management. The relevant policies will push Chinese telecommunications stocks to continue to increase dividend ratios and strengthen share repurchases after FY2023 to improve shareholder returns. The bank raised its target prices for the three major Chinese telecommunications stocks and raised its dividend forecast of 3% to 11% per share for this year and next two years, assuming an increase in dividends, and believes that Chinese telecommunications stocks can repeat the price revaluation cycle from the fourth quarter of 2022 to the first quarter of last year. The bank raised its investment rating for China Unicom's H shares, from “neutral” to “increased holdings”, and the target price was raised from HK$5 to HK$7.3, based on its potential profit rebound in the fourth quarter of last year, and the belief that the stock provided attractive risk returns with the highest beta value in the telecommunications sector in the current round of market growth, and switched to using Unicom as the first choice among the three major telecommunications stocks; the second choice was China Telecom, which increased the rating from HK$4.2 to HK$5; finally, China Mobile increased its “rating” “Hold”, the target price was raised from HK$74.5 to HK$83.