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Telecom-infrastructure services arm of China Telecom, building, maintaining and integrating networks and IT systems for China's carriers.
Telecom-infrastructure services arm of China Telecom, building, maintaining and integrating networks and IT systems for China's carriers.
Wins work on network building, upkeep and IT projects from the three state carriers and some government and enterprise clients, mostly through bids, so carriers' capital spending decides volume. China Telecom's state parent group is its controlling shareholder.
In one line: A network-services integrator, like a captive Ericsson Services.
Moat: narrow (scale, customer qualification). State-linked ties to China's three carriers give a large, recurring network build-and-maintain book.
Headquarters: Beijing, China · Employees: 73,157
Size China Communications Services (0552.HK) is a Hong Kong Industrials company (Engineering & Construction) with a market value of $3.19B, the 329th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.61 on 6 Nov 2026.
Performance Over six months the shares fell 18.9%, against -13.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +4.1%); the operating margin is 1.8% (peer median 5.5%).
Valuation It trades at 5.7× forward earnings against a peer median of 13.0× (cheapest of 21).
Capital Return on invested capital runs 2.1 points below its cost of capital (7.1% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$165B | HK$163B | HK$163B | HK$164B | HK$164B |
| Revenue growth | — | 0% | -1% | 0% | — |
| Gross profit | HK$17.8B | HK$17.8B | HK$18.5B | HK$18.4B | HK$17.9B |
| EBITDA | HK$4.55B | HK$4.44B | HK$4.51B | HK$4.56B | HK$4.47B |
| Net income | HK$3.87B | HK$3.92B | HK$3.91B | HK$3.96B | HK$3.91B |
| Free cash flow | -HK$300M | HK$643M | HK$5.79B | HK$4.87B | HK$4.58B |
| Capital expenditure | HK$850M | HK$823M | HK$1.26B | HK$1.35B | HK$1.43B |
| Total debt | n/a | HK$8.33B | HK$8.60B | HK$7.86B | HK$6.83B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| China Communications Services 0552.HK | $3.19B | -19% | 0% | 2% | 5.7× | n/a |
| China Communications Construction 1800.HK | $12.8B | -26% | -5% | 4% | 3.1× | n/a |
| ZTE 0763.HK | $19.0B | -27% | +20% | 1% | 14.6× | 17.5% |
| China Tower 0788.HK | $20.2B | -18% | +4% | 20% | 9.7× | -1.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0552.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.1% | -1.9% | 8th lowest of 21 |
| 6-month return | -18.9% | -13.8% | 7th lowest of 21 |
| Distance from 52-week high | -27.5% | -25.2% | 10th lowest of 21 |
| Revenue growth (TTM) | +0.2% | +4.1% | 8th lowest of 21 |
| Operating margin | 1.8% | 5.5% | 3rd lowest of 21 |
| Forward P/E | 5.7× | 13.0× | cheapest of 21 |
| ROIC minus cost of capital | -2.1 pp | +2.5 pp | 4th lowest of 19 |
| Net debt / EBITDA | -2.2× | 1.0× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |
| Kraftia 1959.T | Japan | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% | +4.0% |
| SINOPEC Engineering (Group) 2386.HK | Hong Kong | $3.05B | -13% | +14% | 2% | 9.0× | n/a | n/a |
| Legence LGN | United States | $3.02B | -72% | +69% | 3% | 12.2× | 29.7% | +69.2% |
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |
| Bravida BRAV.ST | Sweden | $3.00B | +30% | +4% | 6% | 19.0× | 5.3% | +5.9% |
| L&K Engineering (Suzhou) 603929.SS | China | $2.99B | -50% | +43% | 25% | 14.8× | 7.5% | +39.5% |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| ACME Solar ACMESOLAR.NS | India | $2.95B | +32% | +54% | 66% | 29.6× | n/a | n/a |
| Jgc 1963.T | Japan | $2.94B | -18% | -15% | 6% | 10.0× | n/a | n/a |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Shanghai Construction 600170.SS | China | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% | -2.3% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| EXEO 1951.T | Japan | $2.84B | -22% | +18% | 7% | 12.2× | -5.0% | +6.6% |
| Peab PEAB-B.ST | Sweden | $2.80B | +5% | +4% | 4% | 11.4× | 6.6% | -0.4% |
| Morgan Sindall MGNS.L | United Kingdom | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% | +10.6% |