Loading…
One of China's three state-owned telecom carriers, providing mobile, broadband and enterprise/cloud services.
One of China's three state-owned telecom carriers, providing mobile, broadband and enterprise/cloud services.
Earns recurring monthly fees from mobile and broadband subscribers, with enterprise cloud, data and connected-device contracts as the second line. It shares its 5G radio network with China Telecom to split the build-out cost. The state owns it through China United Network Communications Group.
In one line: A Chinese national wireless carrier akin to a state-run AT&T/Verizon.
Moat: wide (regulatory licence, scale, installed base). One of only three licensed national mobile carriers, with nationwide network infrastructure.
Headquarters: Beijing, China · Founded: 2000 · Employees: 11,665
Size China Unicom (0762.HK) is a Hong Kong Communication Services company (Major Telecommunications) with a market value of $21.3B, the 83rd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.46 on 6 Nov 2026.
Performance Over six months the shares fell 26.1%, against -5.9% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 13 in its peer set.
Growth Revenue grew 3.8% over the last twelve months (peer median +1.6%); the operating margin is 2.4% (peer median 21.0%).
Valuation It trades at 8.2× forward earnings against a peer median of 16.8× (cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.7 points below its cost of capital (7.0% WACC).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$440B | HK$425B | HK$422B | HK$412B | HK$413B |
| Revenue growth | — | +1% | +3% | 0% | — |
| Gross profit | HK$133B | HK$136B | HK$134B | HK$129B | HK$122B |
| EBITDA | HK$101B | HK$105B | HK$105B | HK$114B | HK$120B |
| Net income | HK$17.7B | HK$22.6B | HK$22.3B | HK$20.7B | HK$19.5B |
| Free cash flow | HK$33.5B | HK$26.6B | HK$17.4B | HK$26.8B | HK$35.4B |
| Capital expenditure | HK$73.8B | HK$73.4B | HK$82.1B | HK$87.7B | HK$84.3B |
| Total debt | n/a | HK$38.0B | HK$42.3B | HK$50.1B | HK$63.1B |
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 Unicom 0762.HK | $21.3B | -26% | +4% | 2% | 8.2× | -8.3% |
| China Mobile 0941.HK | $227B | -2% | +4% | 19% | 11.3× | -16.3% |
| China Telecom 0728.HK | $89.4B | -14% | +1% | 6% | 12.3× | -17.0% |
| 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 | 0762.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.7% | +7.5% | 3rd lowest of 13 |
| 6-month return | -26.1% | -5.9% | lowest of 13 |
| Distance from 52-week high | -43.9% | -14.0% | lowest of 13 |
| Revenue growth (TTM) | +3.8% | +1.6% | 4th highest of 13 |
| Operating margin | 2.4% | 21.0% | 2nd lowest of 13 |
| Forward P/E | 8.2× | 16.8× | cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -8.3% | -1.6% | 2nd least demanding of 13 |
| Growth delivered (Del g) | +4.5% | +2.4% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | -12.8 pp | -3.5 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | -4.7 pp | +3.3 pp | lowest of 13 |
| EV / EBITDA | 1.2× | 8.3× | cheapest of 11 |
| Net debt / EBITDA | -0.5× | 2.5× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Unicom 0762.HK | Hong Kong | $21.3B | -26% | +4% | 2% | 8.2× | -8.3% | +4.5% |
| China United Network Communications 600050.SS | China | $20.4B | -1% | 0% | 2% | 17.9× | -14.9% | +5.2% |
| BCE BCE.TO | Canada | $20.3B | -9% | +2% | 22% | 12.3× | -0.9% | +1.3% |
| Telenor TEL.OL | Norway | $19.8B | -14% | -7% | 24% | 13.5× | -7.7% | -8.0% |
| Royal KPN KPN.AS | Netherlands | $18.6B | -4% | +2% | 24% | 18.2× | -2.5% | +1.9% |
| BT Group plc BT.A.L | United Kingdom | $28.8B | -8% | -4% | 17% | 12.2× | 4.3% | -1.7% |
| Quebecor QBR-B.TO | Canada | $12.3B | +36% | +3% | 27% | 16.8× | 0.4% | +5.6% |
| HKT Trust and HKT 6823.HK | Hong Kong | $11.9B | -2% | +7% | 22% | 16.8× | -3.1% | +2.4% |
| Chunghwa Telecom 2412.TW | Taiwan | $38.4B | +20% | -10% | 20% | 30.1× | 7.4% | +2.6% |
| Tele2 TEL2-A.ST | Sweden | $11.2B | -14% | +2% | 24% | 10.7× | -2.4% | +2.4% |
| Swisscom SCMN.SW | Switzerland | $45.7B | +7% | +14% | 16% | 26.1× | 3.7% | +6.3% |
| KT 030200.KS | South Korea | $9.46B | -12% | +9% | 7% | 9.0× | -4.1% | +3.4% |
| Singapore Telecommunications Z74.SI | Singapore | $52.2B | -14% | +1% | 8% | 21.7× | 21.5% | -1.8% |