China Netcom Group Corporation (Hong Kong) (CN)

QUOTE AND NEWS  Jun 1  Comment 
The two biggest Canadian railways are facing stronger volume headwinds, resulting in a downgrade for one and price target cuts for both at Raymond James
Reuters  Apr 10  Comment 
Twenty-four grain cars on a Canadian National Railway train derailed in Alberta on Friday morning without injury or dangerous goods involved, Royal Canadian Mounted...
Reuters  Mar 24  Comment 
An unusually harsh winter is one of the reasons Canadian National Rail Co suffered a sharp increase in the number of train accidents in 2014, a top official said on Tuesday.
Insurance Journal  Mar 23  Comment 
Canadian National Railway’s safety record deteriorated sharply in 2014, reversing years of improvements, as accidents in Canada blamed on poor track conditions hit their highest level in more than five years, a Reuters analysis has found....
Clusterstock  Mar 23  Comment 
By Allison Martell TORONTO (Reuters) - Canadian National Railway's safety record deteriorated sharply in 2014, reversing years of improvements, as accidents in Canada blamed on poor track conditions hit their highest level in more than five...
Reuters  Mar 12  Comment 
Thirteen cars on a Canadian National Railway Co train went off the tracks in rural Manitoba on Wednesday night and spilled some petroleum product on the ground in the company's third derailment in a week.
Reuters  Mar 10  Comment 
Canadian National Railway Co should explain its recent oil-by-rail accidents before the House of Commons transport committee, Transport Minister Lisa Raitt said on Tuesday.


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China Netcom Group Corporation (Hong Kong) Limited (China Netcom) is a state-owned telecommunications company. In addition to providing local fixed-line telephone services to residential and business customers in 10 Chinese provinces which are in the northern parts of China, the company offers domestic and international long distance telephone services Internet and managed data value-added services leased line and limited mobility wireless services. It is one of the largest phone companies in China (and the world), with 111 million access lines in service and 20 million broadband users as of December 30, 2007. The company generates the bulk of its revenue from local phone, domestic long distance, and international long distance services. Additionally, it derives revenue from data and Internet services, value-added services, and interconnection fees paid by other phone companies. In 2006, revenues from fixed line service contributed 78% of the total revenues while broadband & other Internet related service and business & data communication service contributed 13% and 5% of the total revenues in 2006, respectively.

China Netcom announced disappointing operating results for the first three quarters of 2007 due to competition from Chinese mobile operators. However, China Netcom is a major player in fixed-line phone services in one of the world's fastest growing telecom markets. Its attractive long-term prospects arise from growth in broadband, value-added services, and potential 3G services. Moreover, China Netcom is expected to benefit from the possible telecom restructuring in China and issuances of 3G licenses in China. Thus, we are maintaining Hold rating on the stock.


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