中银国际:中国电信(00728)第三季业绩大致符合预期利润率改善 准备迎接更高AI需求

智通财经网
Oct 22

智通财经APP获悉,中银国际发布研报称,中国电信(00728)2025年第三季盈利同比增长3.6%,略低于该行预期,服务收入仅同比增长0.5%。集团第三季EBITDA利润率同比提升0.6个百分点至29.9%,营运费用有所下降;折旧及摊销开支同比增长3%,表明其AI云端基础设施存在过剩产能,这对于满足国内全IP/硬体AI云端需求的蓬勃发展至关重要。中银国际重申对中电信“买入”评级,目标价维持不变于9.84港元。中电信仍然是该行于中国电信商中的首选。

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