增值税上调对运营商利润冲击几何?摩根大通:移动<电信<联通

华尔街见闻
Feb 03

2月1日,中国移动、中国联通及中国电信三大电信运营商集体发布公告称,电信服务增值税税目适用范围调整,税率由6%调整为9%,将对公司收入及利润产生影响。据追风交易台消息,摩根大通陈祺团队在2日的研报中表示,测算显示三大电信运营商将承受不同程度的利润压力,中国移动凭借更高利润率受冲击最小,而中国电信和中国联通面临的净利润影响则更为显著。该行维持三家运营商"增持"评级,认为其股息收益率仍具吸引力。...

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