The Zhitong Finance App learned that Lyon released a research report stating that China Telecom (00728.HK)'s net profit forecast for 2026 to 28 was lowered by 20% to 21%, and the target price of H shares was lowered from HK$6 to HK$5.2, implying a dividend rate of about 5%. Maintain the “outperform the market” rating. Telecom's performance in the first half of 2026 was disappointing. Total revenue fell 4% year on year to RMB 260.47 billion (same below), and net profit fell 15.8% year on year to RMB 19.4 billion, dragged down by mature mobile and fixed network markets, as well as the increase in VAT rates.

The Zhitong Finance App learned that Lyon released a research report stating that China Telecom (00728.HK)'s net profit forecast for 2026 to 28 was lowered by 20% to 21%, and the target price of H shares was lowered from HK$6 to HK$5.2, implying a dividend rate of about 5%. Maintain the “outperform the market” rating. Telecom's performance in the first half of 2026 was disappointing. Total revenue fell 4% year on year to RMB 260.47 billion (same below), and net profit fell 15.8% year on year to RMB 19.4 billion, dragged down by mature mobile and fixed network markets, as well as the increase in VAT rates.