[ET Net News Agency, 30 July 2020] HSBC Global Research lowered its target price for
Hutchison Telecommunications HK (HutchTel)(00215) to HK$1.38 from HK$1.42 and maintained
its "hold" rating.
The research house said HutchTel recorded a 7% decline in the overall service revenue as
roaming revenues declined by 38%. Roaming revenues now contribute to 13% (from 20% in 1H
2019) of overall service revenues. This trend looks set to continue, but the impact should
diminish, with some roaming revenue automatically booked as part of contracts.
Otherwise, trends were stable, with declines in postpaid customers of 2% partly offset
by prepaid growth of 1%, and churn stable. Both gross and net local ARPU were resilient.
While the worst of the roaming declines are likely past, HSBC thinks it will take some
time before the investment in corporate solutions starts to pay off. (KL)
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00215 HUTCHTEL HK
Nominal 
1.010 0.000 (0.000%) Others
30/07/2020 18:01
{I-bank focus}HSBC trims HutchTel HK (00215) to HK$1.38
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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