China Tower (HK:0788)
:0788
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China Tower
(0788)
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Rating:67Neutral
Price Target:
HK$12.00
â–²(8.79% Upside)
Action:DowngradedDate: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
Consistent profitability and healthy margins
Stable net and operating margins around mid-teens provide durable earnings power for a capital-intensive infra business. Predictable profitability supports operating cash generation, funds maintenance capex and service obligations, and buffers performance through telecom capex cycles.
Negative Factors
Limited top-line growth
Flat to slightly negative revenue constrains long-term EPS and cash-flow growth for an infrastructure owner. With revenue tied to operator rollouts and pricing, limited topline momentum risks slower scale benefits from co-location and restricts reinvestment or faster dividend increases.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent profitability and healthy margins
Stable net and operating margins around mid-teens provide durable earnings power for a capital-intensive infra business. Predictable profitability supports operating cash generation, funds maintenance capex and service obligations, and buffers performance through telecom capex cycles.
Read all positive factors
China Tower (0788) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$193.69B
Dividend Yield4.03%
Average Volume (3M)16.73M
Price to Earnings (P/E)16.0
Beta (1Y)0.48
Revenue Growth2.73%
EPS Growth8.45%
CountryHK
Employees24,107
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding4,666,385,700
10 Day Avg. Volume13,896,425
30 Day Avg. Volume16,733,001
Financial Highlights & Ratios
PEG Ratio2.44
Price to Book (P/B)0.89
Price to Sales (P/S)1.86
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$12.75Price Target Upside15.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.9
Revenue Forecast (FY)HK$103.14B
China Tower Business Overview & Revenue Model
Company Description
China Tower Corporation Limited provides telecommunication tower infrastructure services in the People's Republic of China. The company engages in the construction, maintenance, and operation of base station ancillary facilities, such as telecommu...
How the Company Makes Money
China Tower primarily makes money by leasing access to its telecommunications infrastructure to customers, especially mobile network operators, under long-term service arrangements. Its core revenue stream is generated from providing “site resourc...
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 | 97.81B | 97.77B | 94.01B | 92.17B | 86.58B |
| Gross Profit | 66.83B | 27.94B | 81.21B | 88.62B | 86.31B | 81.42B |
| EBITDA | 57.48B | 63.93B | 53.42B | 64.71B | 64.06B | 63.34B |
| Net Income | 11.16B | 11.33B | 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
Neutral
11.03
Price Trends
11.01
Positive
11.43
Negative
11.44
Negative
Market Momentum
-0.04
Negative
53.17
Neutral
78.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0788, the sentiment is Neutral. The current price of 11.03 is above the 20-day moving average (MA) of 10.89, above the 50-day MA of 11.01, and below the 200-day MA of 11.44, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 53.17 is Neutral, neither overbought nor oversold. The STOCH value of 78.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$1.84T | 12.87 | 9.52% | 6.00% | 3.01% | -2.03% | |
70 Outperform | HK$608.92B | 13.34 | 6.83% | 5.40% | 1.29% | -3.41% | |
69 Neutral | HK$29.78B | 1.65 | 7.60% | 5.24% | 0.06% | 78.59% | |
67 Neutral | HK$193.69B | 16.02 | 4.14% | 4.03% | 2.73% | 8.45% | |
67 Neutral | HK$223.98B | 10.54 | 6.09% | 5.29% | 0.68% | 0.64% | |
67 Neutral | HK$96.22B | 16.50 | 14.46% | 2.86% | 5.18% | 4.25% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
HK:0788
China Tower
11.08
0.34
3.16%
HK:0728
China Telecom
5.21
0.12
2.36%
HK:0941
China Mobile
84.60
7.58
9.84%
HK:0762
China Unicom (Hong Kong)
7.32
-1.11
-13.19%
HK:0552
China Communications Services
4.30
0.41
10.43%
HK:6823
HKT and HKT
12.69
2.39
23.19%
China Tower Corporate Events
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...
China Tower Proposes 2025 Final Dividend and Details H‑Share Tax Treatment
Mar 18, 2026
China Tower Corporation Limited, a major mainland China telecommunications tower and infrastructure operator listed on the Hong Kong Stock Exchange, generates revenue mainly from constructing, operating, and leasing shared wireless communication t...
China Tower Lifts Profit and Cash Flow on Steady 2025 Revenue Growth
Mar 18, 2026
China Tower reported steady 2025 growth as operating revenue rose 2.7% to RMB100.4 billion, driven by modest expansion in its core telecom service provider business and faster gains in indoor DAS, Smart Tower, and Energy segments. Profit attributa...
China Tower Sets March 2026 Board Meeting to Review 2025 Results and Dividend
Mar 4, 2026
China Tower Corporation Limited has scheduled a board meeting for 18 March 2026 to review and approve the financial results of the company and its subsidiaries for the year ended 31 December 2025. The board will also consider the declaration of a ...
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.