According to the report released by Citigroup, it maintained a "buy" rating for China United Network Communications (00762). The profit forecast for 2024 remains unchanged, but the profit forecast for 2025 to 2026 was downgraded by 6% to 7%, and its target price was lowered from HKD 7.1 to HKD 6.9. The report also stated that the predicted (combined in the next two years after the stock price adjustment) dividend yield will reach 7.5%, which is attractive.

The report pointed out that China United Network Communications' Q2 revenue increased by 3% year-on-year to RMB 98 billion, which is 2% higher than the market expectations. Service revenue increased by 2% year-on-year to RMB 87 billion, and Q2 EBITDA increased by 2% year-on-year. Net income increased by 13% year-on-year to RMB 8 billion, which is 22% higher than the market expectations. The management reiterated this year's guidance, expecting steady year-on-year revenue growth, double-digit year-on-year growth in pre-tax net income, and capital expenditure guidance of RMB 65 billion.