Movement Alert｜CHINA TELECOM Falls 3.21% in Regular Trading, Goldman Sachs Sell Rating and Weak Q1 Earnings Weigh on Shares

Market Focus07-22

On July 22, CHINA TELECOM fell 3.21% in regular trading to HK$4.53, with turnover of HK$179 million. The stock is now approaching Goldman Sachs' revised 12-month target price of HK$4.2.

On the news front, Goldman Sachs previously downgraded CHINA TELECOM from Neutral to Sell, slashing its target price from HK$6 to HK$4.2. The investment bank cited weak 5G service consumption, slowing base station deployment, and VAT rate increases as key headwinds, cutting earnings forecasts for fiscal years 2026-2028 by 13%, 25%, and 26% respectively.

Fundamentally, the company's Q1 results showed significant pressure, with revenue declining 2.32% year-over-year to RMB 131.39 billion, net profit attributable to shareholders falling 17.08%, and non-GAAP net profit dropping 25.28%. Additionally, institutional investors including Ping An Asset Management have recently reduced their holdings in the company.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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