Projected Income Statement: China Unicom (Hong Kong) Limited

Forecast Balance Sheet: China Unicom (Hong Kong) Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -39,448 -33,113 -69,565 -49,483 -19,626 -42,490 -59,926 -71,819
Change - 16.06% -110.08% 28.87% 60.34% -116.5% -41.04% -19.85%
Announcement Date 3/11/22 3/8/23 3/19/24 3/18/25 3/19/26 - - -
1CNY in Million
Estimates

Cash Flow Forecast: China Unicom (Hong Kong) Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 68,960 74,200 73,870 61,370 54,150 48,882 48,739 50,984
Change - 7.6% -0.44% -16.92% -11.76% -9.73% -0.29% 4.61%
Free Cash Flow (FCF) 1 41,700 26,340 28,520 28,030 36,020 36,259 36,779 40,350
Change - -36.83% 8.28% -1.72% 28.51% 0.66% 1.43% 9.71%
Announcement Date 3/11/22 3/8/23 3/19/24 3/18/25 3/19/26 - - -
1CNY in Million
Estimates

Forecast Financial Ratios: China Unicom (Hong Kong) Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 29.38% 27.94% 26.79% 25.52% 25.35% 24.64% 24.35% 23.8%
EBIT Margin (%) 3.25% 3.48% 4.02% 4.11% 4.74% 4.35% 4.49% 4.39%
EBT Margin (%) 5.47% 5.8% 6.16% 6.48% 6.49% 6% 6.15% 6.52%
Net margin (%) 4.38% 4.72% 5.03% 5.29% 5.31% 4.86% 4.96% 5.11%
FCF margin (%) 12.72% 7.42% 7.65% 7.19% 9.18% 9.17% 9.14% 9.9%
FCF / Net Income (%) 290.23% 157.3% 152.3% 135.98% 173.04% 188.67% 184.17% 193.99%

Profitability

        
ROA 2.45% 2.71% 2.87% 3.09% 3.1% 2.71% 2.8% 2.81%
ROE 4.36% 4.97% 5.4% 5.8% 5.7% 5.19% 5.33% 5.37%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 21.03% 20.9% 19.83% 15.75% 13.81% 12.36% 12.11% 12.51%
CAPEX / EBITDA (%) 71.59% 74.82% 74.01% 61.73% 54.47% 50.16% 49.74% 52.59%
CAPEX / FCF (%) 165.37% 281.7% 259.01% 218.94% 150.33% 134.81% 132.52% 126.35%

Items per share

        
Cash flow per share 1 3.616 3.286 3.346 2.922 2.947 3.079 3.125 3.179
Change - -9.13% 1.84% -12.69% 0.86% 4.47% 1.5% 1.72%
Dividend per Share 1 0.216 0.274 0.3366 0.4043 0.417 0.4214 0.4542 0.4746
Change - 26.85% 22.85% 20.11% 3.14% 1.05% 7.78% 4.51%
Book Value Per Share 1 10.86 11.16 11.49 11.8 12.04 12.34 12.61 12.91
Change - 2.79% 2.89% 2.72% 2% 2.55% 2.17% 2.4%
EPS 1 0.47 0.55 0.61 0.67 0.68 0.6223 0.6475 0.6869
Change - 17.02% 10.91% 9.84% 1.49% -8.49% 4.05% 6.09%
Nbr of stocks (in thousands) 30,598,124 30,598,124 30,598,124 30,598,124 30,598,124 30,598,124 30,598,124 30,598,124
Announcement Date 3/11/22 3/8/23 3/19/24 3/18/25 3/19/26 - - -
1CNY
Estimates
2026 *2027 *
P/E 8.89x 8.55x
PBR 0.45x 0.44x
EV / Sales 0.32x 0.27x
Yield 7.61% 8.21%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
B
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
5.535CNY
Average target price
7.904CNY
Spread / Average Target
+42.80%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Stocks
  3. 762 Stock
  4. Financials China Unicom (Hong Kong) Limited