《大行》野村：内地电讯业今年展望具挑战性降中电信评级至“中性”_老虎社区_美港股上老虎

《大行》野村：内地电讯业今年展望具挑战性降中电信评级至“中性”

AASTOCKS02-12

野村研究报告指，国家官方数据显示，内地电讯行业2025年表现疲弱，服务收入按年增幅由前值3.2%放缓至0.7%，主要反映核心业务市场饱和、新兴业务增长放缓、竞争加剧以及宏观环境疲弱等因素。行业移动服务收入按年下跌3.1%至6,097亿元人民币。数据显示，移动用户渗透率已达130%，较全球平均水平107.5%高22.5个百分点；三大电信商之间的竞争日趋激烈，今年展望具挑战性。该行维持中国移动(...

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