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<Research>Citi: CHINA UNICOM (00762.HK) 1Q Results Miss; Rating Buy
Recommend
12
Positive
17
Negative
6
CHINA UNICOM (00762.HK)'s 1Q26 results missed expectations, Citi Research issued a research report saying. During the period, total revenue declined 0.5% YoY to RMB102.8 billion, 1% below market consensus.

EBITDA decreased by 6.6% YoY to RMB24.3 billion, 7% lower than market consensus. Net profit slipped by 17.6% YoY to RMB4.9 billion. Operating expenses increased by 2.8% YoY, mainly dented by higher staff costs.

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Therefore, the broker rated CHINA UNICOM's H-shares at Buy, with a target price of $11.2.
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