Morgan Stanley: Maintains China Unicom (00762.HK) H-share "In-Line" rating and HK$7 target price; third-quarter net profit fell 31% year-on-year

Zhitong Finance APP has learned that Morgan Stanley issued a research report stating that it maintains the "Equal-weight" rating and HK$7 target price for China Unicom's (00762.HK) H-shares. The company's third-quarter service revenue fell 0.4% year-on-year to RMB 82.9 billion, and EBITDA fell 10% year-on-year to RMB 22.8 billion, mainly affected by changes in the employee expense model; net profit fell 31% year-on-year to RMB 3.8 billion. In terms of business, China Unicom's computing power revenue in the first nine months increased 12.2% year-on-year, IDC revenue increased 10.4% year-on-year, and total capacity exceeded 3GW.