CHINA TOWER (00788) saw its gains expand beyond 4%, rising 4.01% to HKD 12.46 by the time of writing, with a turnover of HKD 502 million. The company held its 2025 Technology Innovation Conference in Beijing on November 21. Zhang Zhiyong, Chairman of CHINA TOWER, highlighted that the company has constructed over 7 million base station projects, including more than 3 million 5G base stations, saving the industry over HKD 400 billion in construction and operational costs. China Galaxy Securities initiated coverage with a "Buy" rating, citing CHINA TOWER's leadership in its "One Body, Two Wings" strategy and significant scale advantages. With 1.5 million legacy towers fully depreciated by October 2025, the company is poised to benefit from reduced depreciation costs. Since its IPO, CHINA TOWER has maintained an average dividend payout ratio of 60.9%, demonstrating strong shareholder returns.
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