The Zhitong Finance App learned that UBS released a research report stating that it gave China Unicom (00762) a “buy” rating, with a target price of HK$7.5. Although the company's net profit growth in the first quarter of this year fell short of expectations, its guidance for the whole year remained unchanged. Last quarter service revenue reached RMB 89.04 billion (same below), up 3.4% year on year; EBITDA rose 3.4% to RMB 26.61 billion. Both figures are in line with market expectations. The company's net profit increased 8.9% year-on-year to RMB 5.61 billion last quarter, 6% lower than forecast. However, the Group remains unchanged in its full-year guidance, and net profit growth for the 2024 fiscal year is expected to reach double digits.