Zhongtong Financial App learned that China United Network Communications (00762) rose more than 3% in the morning session. As of press time, it rose 3.09%, to HKD 6.68, with a turnover of HKD 156 million.

China Post Securities pointed out that China United Network Communications completed a total of 73.87 billion yuan in capital expenditures in 2023, including 37.37 billion yuan in 5G investment. According to the company's guidance, it is expected to complete capital expenditures of 65 billion yuan in 2024, and digital network investment will adhere to moderate forward-looking and accelerate the layout.

Goldman Sachs released a report stating that their view on the three major Chinese telecom stocks continued to be positive in the second half of the year, and believed that the shares were consistent with the long-term value evaluation as a dividend discount model. Based on clear dividend rate targets, stable business and profit growth, and the ability to achieve dividend targets beyond pure profit forecast with free cash flow from 2021 to 2026, and corporate performance indicators pushing shareholder returns and management market value. Goldman Sachs believes that the valuation of the shares is attractive under the prospect of profit growth and free cash flow.