China Tower (HK:0788)
:0788
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China Tower
(0788)
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Rating:67Neutral
Price Target:
HK$9.50
â–¼(-13.87% Downside)
Action:Downgraded
Date:04/21/26
The score is driven primarily by solid financial stability and profitability with improving leverage, plus supportive valuation from a ~4.38% dividend yield. These positives are tempered by limited top-line growth and uneven free-cash-flow conversion, while technical indicators are mixed with weaker longer-term trend signals.
Positive Factors
Recurring, contract-based leasing revenue
China Tower's core business is long-term site leasing and recurring service fees tied to tenant deployments, giving predictable, annuity-like revenue. This durable model supports stable cash inflows, high visibility on occupancy-driven revenue and lower customer churn risk over months to years.
Negative Factors
Limited top-line growth
Revenue stagnation and a small decline in 2025 point to constrained organic growth opportunities absent new structural drivers. For an infrastructure owner, flat site growth limits operating-leverage gains and reduces the runway for margin expansion and higher capital returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring, contract-based leasing revenue
China Tower's core business is long-term site leasing and recurring service fees tied to tenant deployments, giving predictable, annuity-like revenue. This durable model supports stable cash inflows, high visibility on occupancy-driven revenue and lower customer churn risk over months to years.
Read all positive factors
China Tower (0788) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$155.93B
Dividend Yield4.03%
Average Volume (3M)16.73M
Price to Earnings (P/E)10.6
Beta (1Y)0.52
Revenue Growth2.73%
EPS Growth8.45%
CountryHK
Employees24,107
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.64
Shares Outstanding4,666,385,700
10 Day Avg. Volume13,896,425
30 Day Avg. Volume16,733,001
Financial Highlights & Ratios
PEG Ratio1.58
Price to Book (P/B)0.89
Price to Sales (P/S)1.81
P/FCF Ratio7.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$12.97Price Target Upside17.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.86
Revenue Forecast (FY)HK$102.51B
China Tower Business Overview & Revenue Model
Company Description
China Tower Corporation Limited serves as a prominent telecommunications infrastructure provider throughout the People's Republic of China. The company's core operations involve the development, upkeep, and management of essential base station fac...
How the Company Makes Money
China Tower primarily makes money by leasing telecommunications infrastructure and providing related services to wireless carriers and other customers. Its main revenue model centers on long-term, recurring service fees tied to the number of tenan...
China Tower Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
76
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 99.13B | 100.41B | 97.77B | 94.01B | 92.17B | 86.58B |
| Gross Profit | 66.83B | 83.23B | 81.21B | 88.62B | 86.31B | 81.42B |
| EBITDA | 57.48B | 54.68B | 53.42B | 64.71B | 64.06B | 63.34B |
| Net Income | 11.16B | 11.63B | 10.73B | 9.75B | 8.79B | 7.33B |
Balance Sheet | ||||||
| Total Assets | 331.13B | 336.72B | 332.83B | 326.01B | 305.56B | 323.26B |
| Cash, Cash Equivalents and Short-Term Investments | 8.67B | 12.32B | 4.47B | 5.18B | 5.12B | 6.47B |
| Total Debt | 92.64B | 90.50B | 92.55B | 94.63B | 79.12B | 101.30B |
| Total Liabilities | 130.77B | 132.33B | 132.85B | 128.31B | 111.97B | 133.91B |
| Stockholders Equity | 200.35B | 203.99B | 199.98B | 197.69B | 193.59B | 189.35B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 25.60B | 19.68B | -638.00M | 36.47B | 27.83B |
| Operating Cash Flow | 0.00 | 56.12B | 49.47B | 32.84B | 65.13B | 60.50B |
| Investing Cash Flow | 0.00 | -29.31B | -27.98B | -31.91B | -27.66B | -31.52B |
| Financing Cash Flow | 0.00 | -17.09B | -22.84B | -2.10B | -38.83B | -27.56B |
China Tower Technical Analysis
Negative
11.03
Price Trends
10.22
Negative
10.44
Negative
10.86
Negative
Market Momentum
-0.31
Positive
20.30
Positive
13.42
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0788, the sentiment is Negative. The current price of 11.03 is above the 20-day moving average (MA) of 9.63, above the 50-day MA of 10.22, and above the 200-day MA of 10.86, indicating a bearish trend. The MACD of -0.31 indicates Positive momentum. The RSI at 20.30 is Positive, neither overbought nor oversold. The STOCH value of 13.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0788.
China Tower Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.68T | 10.72 | 9.52% | 6.00% | 3.01% | -2.03% | |
70 Outperform | HK$536.59B | 15.58 | 6.83% | 5.40% | 1.29% | -3.41% | |
67 Neutral | HK$155.93B | 10.60 | 6.26% | 4.03% | 2.73% | 8.45% | |
67 Neutral | HK$193.99B | 7.51 | 6.09% | 5.29% | 0.68% | 0.64% | |
67 Neutral | HK$88.71B | 16.96 | 14.46% | 2.86% | 5.18% | 4.25% | |
64 Neutral | HK$27.15B | 3.70 | 7.60% | 5.24% | 0.06% | -0.05% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
HK:0788
China Tower
8.92
-1.78
-16.65%
HK:0728
China Telecom
4.35
-0.94
-17.82%
HK:0941
China Mobile
77.40
-4.51
-5.51%
HK:0762
China Unicom (Hong Kong)
6.34
-2.49
-28.18%
HK:0552
China Communications Services
3.92
-0.07
-1.83%
HK:6823
HKT and HKT
11.70
0.72
6.60%
China Tower Corporate Events
China Tower Sets Out Board Line-Up and Committee Structure
Jun 16, 2026
China Tower Corporation Limited has disclosed the current composition of its board, detailing executive, non-executive and independent non-executive directors, with Zhang Zhiyong serving as chairman and Chen Li as general manager. The company also...
China Tower Shareholders Approve Appointment of New Executive Director
Jun 16, 2026
China Tower shareholders approved the appointment of Yin Wenkai as an executive director at the company’s first extraordinary general meeting of 2026, held in Beijing on 16 June. The resolution passed with more than 99% of votes cast in favo...
China Tower Calls June EGM to Vote on New Executive Director Appointment
May 26, 2026
China Tower Corporation Limited has convened its first extraordinary general meeting of 2026 for 16 June in Beijing, where shareholders will vote on the proposed appointment of Mr. Yin Wenkai as an executive director. The board is also seeking aut...
China Tower Proposes Veteran Telecom Executive Yin Wenkai as New Board Director
May 18, 2026
China Tower has proposed appointing senior telecom executive Yin Wenkai as an executive director, subject to shareholder approval at its first extraordinary general meeting of 2026 scheduled for 16 June. Yin, currently a deputy general manager at ...
China Tower Sets 2025 Final Dividend and Clarifies Withholding Tax for H Shareholders
May 15, 2026
China Tower Corporation Limited has declared a final ordinary dividend of RMB 0.32539 per share for the financial year ended 31 December 2025, with shareholder approval granted on 15 May 2026. The dividend for H share investors will be paid in Hon...
China Tower Shareholders Back Dividend, Auditors and Share Issuance Mandate at AGM
May 15, 2026
China Tower said shareholders overwhelmingly approved all resolutions at its 15 May 2026 annual general meeting in Hong Kong, with more than 17.6 billion issued shares eligible to vote and no voting restrictions or treasury shares in place. The me...
China Tower Announces Routine Resignation of Company Supervisor
May 7, 2026
China Tower Corporation Limited, a major mainland China telecommunications infrastructure provider listed in Hong Kong, focuses on constructing and operating communications towers and related facilities for mobile network operators. Its board comp...
China Tower Q1 Profit Jumps on Growth in Smart and Energy Businesses
Apr 17, 2026
China Tower reported modest first-quarter 2026 revenue growth of 1.5% to RMB25.15 billion, as weakness in its traditional tower business was offset by solid gains in indoor DAS, Smart Tower, and Energy segments. Profit attributable to shareholders...
China Tower Sets 2025 AGM to Approve Results, Dividend and Share-Issuance Mandate
Apr 17, 2026
China Tower has called its 2025 annual general meeting for 15 May 2026 in Hong Kong, where shareholders will vote on the approval of the 2025 financial statements, board and supervisory committee reports, the auditor’s report, and the 2026 b...
China Tower Sets April Board Meeting to Approve First-Quarter 2026 Results
Apr 2, 2026
China Tower Corporation Limited has scheduled a board meeting for April 17, 2026, in Beijing to review and approve the financial results for the first quarter ended March 31, 2026. The announcement also confirms the current composition of the boar...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.