QUOTE AND NEWS
Forbes  Jun 3  Comment 
In our current calculations, we estimate that China Unicom will reverse some of its market share losses since the start of the year and maintain its share around 2013 levels of 22.7% through the end of our forecast period. However, if the carrier...
Forbes  May 22  Comment 
Last month, China Unicom reported a gain of just 691,000 high speed (3G and 4G) subscribers, marking one of its weakest monthly performances in over five years. This is about 70% lower than the carrier’s average monthly gains of 2.2 million in...
Market Intelligence Center  May 20  Comment 
After Tuesday’s trading in China Unicom (Hong Kong) Ltd (CHU) the algorithms behind MarketIntelligenceCenter.com's Artifical Intelligence Center picked out a trade that offers a 7.33% or 17.97% (for comparison purposes only), while providing...
Market Intelligence Center  May 7  Comment 
For a hedged play on China Unicom (Hong Kong) Ltd (CHU) MarketIntelligenceCenter.com’s patented trade-picking algorithms recommend the Oct. '15 $18.00 covered call for a net debit in the $16.80 area. That is also the break-even stock price for...
Market Intelligence Center  May 1  Comment 
For a hedged play on China Unicom (Hong Kong) Ltd (CHU) MarketIntelligenceCenter.com’s patented trade-picking algorithms recommend the Oct. '15 $18.00 covered call for a net debit in the $17.09 area. That is also the break-even stock price for...
Benzinga  Apr 28  Comment 
CNBC Fast Money's Pete Najarian said on the show that he is a buyer of China Unicom (Hong Kong) Limited (ADR) (NYSE: CHU). Dan Nathan thinks that it would be a good idea to sell Intel Corporation (NASDAQ: INTC). Karen Finerman wants to buy...
Cellular News  Apr 6  Comment 
Hong Kong's telecoms regulator has ordered China Unicom to explain the cause of two network outages that took place within three days of each other. Click here for more.
Forbes  Mar 27  Comment 
Most of the carrier’s 2G customers may be adopting China Telecom’s and China Mobile’s 4G networks in light of the their discount offerings and the latter’s massive network expansion (Unicom’s net user base declined by 2.74 million in...
Forbes  Mar 4  Comment 
Mobile broadband service revenue from high-speed subscribers (3G and 4G) grew by 18% y-o-y to about RMB 106 billion ($16.9 billion) driven by a net addition of 26.5 million high speed subscribers in 2014. This increase in 3G-4G subscribers was...
Forbes  Mar 4  Comment 
We expect its wireless business to continue to show strong growth on account of an expanding subscriber base and an improving 3G-4G mix. However, it is likely to be impacted by the company’s comparatively lackluster performance in adding new...




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Beijing-based China Unicom Limited (China Unicom) provides a wide range of telecommunication services throughout China. With approximately 30% of the total mobile phone users in China, China Unicom is the second largest mobile operators in China behind China Mobile. The company's primary source of revenue is its wireless services, which are based on both the global system for mobile communications (GSM) and code division multiple access (CDMA) technologies. Other telecom services provided by China Unicom include domestic and international long distance and Internet services. As of 2006, revenues from GSM business and CDMA business each accounted for 63% and 29% of total revenue, respectively. Data and internet business, long distance business and sales of telecommunications products totally accounted for 8% of the total revenues. China Unicom is currently the sole provider of CDMA services in China. As of December 31, 2007, the company had 119 million GSM subscribers and 41 million CDMA subscribers.

China Unicom's net income for the third quarter of 2007 increased 114% over the same period of 2006 because of its rapid growth of GSM revenue and cost control. However, the net income still didn't meet the market consensus. The company still faces fierce competition from aggressive GSM pricing offered by China Mobile. It maintains separate GSM and CDMA networks, which dilutes management focus and operating efficiency. CDMA is expected to be Unicom's future growth driver, but high infrastructure and handset costs place it at a disadvantage to China Mobile's GSM service. Unicom's growth potential through CDMA is offset by competitive threats and high costs relative to GSM. However, the company was able to increase its profit margins because of cost controls. Moreover, although its stock price increased significantly due to market speculation, the stock appears fairly valued, considering the possible restructuring in telecom industry in China and its 3G opportunities in China. Thus, we maintain our Hold recommendation.




References

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