On February 4, 2016, the telecom operator sector strengthened with the broader market, led by China Mobile, which rose nearly 4%, and China Unicom and China Telecom rose more than 2%.
The Ministry of Industry and Information Technology announced that the revenue of China's telecom operators will increase by 8% year-on-year in 2021. As of the end of December last year, China Mobile's 5G package users had reached 387 million, a net increase of 12.421 million from the previous month, a cumulative net increase of 222 million for the whole year, and the penetration rate of 5G package users exceeded 40%, reaching 40.42%.
Credit Suisse issued a report maintaining an "overweight" rating on three Chinese telecom stocks, optimistic about their attractive valuations and considerable yields, with China Telecom (0728.HK), China Mobile (0941.HK), and finally China Unicom (0762.HK) with target prices of HK$6.1, HK$84.9 and HK$6.5 respectively. Credit Suisse expects China Telecom to have the highest CAGR of 7% for 2021-2024, with dividend yields of 8% and 9% in 2021 and 2022, respectively.
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