According to the Wise News APP, China Tower (00788) rose nearly 3%, as of the time of publication, rose by 2.97%, at 1.04 Hong Kong dollars, with a turnover of 0.258 billion Hong Kong dollars.

On the news front, China Tower previously released its performance, with a 3.3% year-on-year increase in revenue and profit in the first 9 months, and 2.2% and 13% in the third quarter, respectively. Morgan Stanley pointed out that China Tower's third-quarter revenue increased by 2.2% year-on-year to 24 billion yuan, falling short of the bank's expectations. However, the EBITDA profit margin for the period increased by 1 percentage point to 68.9%, and net profit increased by 12.6%, both exceeding expectations. The bank mentioned that tower revenue for the period remained flat at 19 billion yuan year-on-year, in line with the bank's expectations.

Nomura believes that the company's tower business will remain stable in 2024. Looking ahead, Nomura believes that despite the telecommunications industry being in a downward capital expenditure cycle, China Tower's core business remains stable, and profit growth may rise due to a decrease in depreciation costs, with the company's depreciation period possibly gradually ending from the fourth quarter of 2025.