Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM Estimates CN Telecom VAT Hike to Have Least Impact on CHINA MOBILE
Recommend 17 Positive 23 Negative 4 |
||||
|
||||
|
The three Chinese telecom majors have announced an adjustment to the value-added tax (VAT), with which business tax rates for mobile data, SMS/MMS, and internet broadband services will rise from 6% to 9%, according to JPMorgan's research report. In JPMorgan's estimate, this adjustment will impact the net profits of CHINA MOBILE (00941.HK)/ CHINA TELECOM (00728.HK)/ CHINA UNICOM (00762.HK) by 7.1%/ 12.6%/ 11.9% in 2026. Because of its higher gross profit margin, CHINA MOBILE is likely to suffer the least damage. Believing that the dividend yields of CHINA MOBILE/ CHINA TELECOM/ CHINA UNICOM will reach 7%/ 5.7%/ 6.8% in 2026 and remain attractive compared to the HSI, JPMorgan has kept an Overweight rating on the three companies. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
