Nomura believes that the management of china mobile may need to take more proactive cost and expense control measures to achieve the 'favorable profit growth' target by 2024.
Zhixun Finance APP learned that Nomura released a research report stating that after the closing on October 21, China Mobile (00941) announced the financial results for the third quarter of 2024. The EBITIDA profit margin of the third quarter decreased by 2.4 percentage points year-on-year, while the net margin increased by 0.6 percentage points year-on-year. Nomura believes that this may be due to the decrease in depreciation costs. Maintaining a 'buy' rating with a target price of 89 Hong Kong dollars.
Nomura believes that china mobile's revenue growth may continue to face pressure from its underperforming performance in the communications services market, while the expansion of new businesses may slow down due to soft macro demand and the high base effect of 2023. The bank believes that the management of china mobile may need to take more proactive cost and expense control measures to achieve the 'favorable profit growth' target by 2024. At the same time, the bank believes that china mobile should still be able to achieve stable dividend growth and maintain defensiveness in volatile markets.
