On October 23, Gelonhui | China Merchants Securities research reports pointed out that china telecom (601728.SH) achieved performance in line with expectations in the first three quarters of 2024, with continuous strengthening of profitability and deepening high-quality development. Maintaining a "strong recommendation" rating. Looking at a single quarter, in Q3 2024, the company achieved revenue of 126 billion yuan (yoy +2.9%, Q2 2024 yoy +2.0%), with telecommunications business income of 116.7 billion yuan (yoy +2.5%), and net income attributable to the mother of 7.5 billion yuan (yoy +7.8%). The company is accelerating the integration of standard products with new elements such as cloud, AI, quantum, and satellite, promoting the continuous enhancement of the value of its mobile business. In addition, the gradual manifestation of the overall accounts receivable and credit impairment control effects of the company is expected, with the continuous optimization of customer repayment cycles in H2 2024 and the company's ongoing strengthening of accounts receivable management, the full year cash flow in 2024 will remain robust.