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| 名称： 高盛为中国电信做的报告.pdf80 |
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| 所属分类： 行业报告 |
| 下载要求： 10学币或VIP (学币和VIP购买说明) |
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| 文件大小： 1240 KB |
| 更新时间： 2007-1-13 14:43:00 |
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| ::高盛为中国电信做的报告.pdf80电子书简介:: |
高盛为中国电信做的报告.pdf80简介开始
K$1.75 target offers 25% potential upside; OP/CIL.
(1) Enjoys nearly 100% of fixed-line demand in operating regions.
(2) Limited threat from competition supports stable EBITDA
margins of more than 50%. (3) 4.6% 2002E-2005E EPS CAGR.
(4) Risks are mobile cannibalization and ARPU weakness.
Stock data Price performance 1M 3M 12M Price performance chart
52-week range HK$1.51-HK$1.35 Absolute -3% — —
Yield 4.6% Rel to MSCI AP Telecom 3% — —
MSCI AP Telecom 48 Rel to HSI 3% — —
Listed ADR (CHA)
1
US$18.05
1
1 ADR = 100 shares
Capitalization Forecasts/valuation 12/02E 12/03E
Market cap US$13,573 mn Adjusted EBITDA (Rmb bn) 36.0 38.4
2002E net debt/(cash) Rmb8,557 mn EV/EBITDA 3.4X 2.9X
Free float 10.6% Adjusted EPS (Rmb) 0.15 0.16
Shares outstanding 75,614 mn P/E 9.7X 9.3X
高盛为中国电信做的报告.pdf80简介结束,下载后阅读全部内容
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