China Mobile 0941

Re: China Mobile 0941

Postby winston » Fri Jan 30, 2009 2:48 pm

DJ MARKET TALK: China Mobile +0.5%; CS Tips Attractive Valuations

1106 [Dow Jones] China Mobile (0941.HK) +0.5% at K$70.35 vs HSI down 1.2%, likely due to some bargain-hunting after yesterday's underperformance; is most heavily traded stock with HK$721.2 million, itself accounting for 7.3% of market total.

While competition set to increase following 3G licensing, concerns of asymmetric regulation remain; Credit Suisse says management remains upbeat on subscriber growth, CM should remain dominant industry player.

Adds, while company gets license to less commercially viable homegrown TD-SCDMA, management believes government will strongly support TD-SCDMA, related industry.

Keeps Outperform call, HK$90.00 target price with stock remaining defensive with attractive valuations, reasonable 4.5% dividend yield. 20-, 50-day moving averages intertwine around HK$74, likely offers short-term cap.
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Re: China Mobile 0941

Postby winston » Fri Jan 30, 2009 9:54 pm

China Mobile rose steadily from HK$69 in the morning to about HK$72.45 at the 4pm closing. A lot of retail investors were very happy.

However, during after market trading, in just 10 mins, it dropped from HK$72.40 to HK$70.50 !

Vested with a Put :D
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Re: China Mobile 0941

Postby winston » Tue Feb 03, 2009 1:54 pm

Target Price:-

1) UOB 95 Jan 21 from 100 Jan 13 Dec 4 Oct 21 from 120 Aug 28 from 160 Jul 24 Jun 23 May 21
2) DBS 115 Aug 28 from 185 Nov21
3) Merrill 90 Jan 21 from 165 Apr 8 from 181 Dec 27 from 100 Jan 23 from 72
4) ABN 180 Jan 28 from 200 Oct 18
5) GS 78 Nov 14 from 90 from 95 Aug 29 from 105 May 26 from 135 Apr 29 from 180 Nov 7
6) Daiwa 160 May 21 from 188.5 Oct 25 from 166 Oct 4 from 123 Sep 7
7) Phillips 89 Apr 3
8) CLSA 133 Jan 7 from 140 Sep 25
9) Citigrp 160 Jan 14 from 196 Nov 1 from 115 Jul 12
10) CS 90 Jan 30 Jan 14 Nov 28 from 146 Apr 22 from 130 from 145 Oct 4
11) DB 106 Oct 9
12) UBS 178 Mar 20 Nov14 Oct 12
13) BS 86 Oct 15
14) JPM 75 Aug 28 from 165 Feb 21 Nov 22 Oct 22
15) Lehman 180 Oct 24
16) MacQ 91 Jan 14
17) Guoco 75 Jan 21
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Re: China Mobile 0941

Postby winston » Tue Feb 10, 2009 10:32 am

China Mobile to increase handset subsidy budget by 25% in 2009, says paper

EDN, February 9; Meiling Chen, DIGITIMES [Monday 9 February 2009]

China Mobile plans to increase is handset subsidy budget to 10 billion RMB (US$1.46 billion) in 2009 from 8 million RMB in 2008 to promote TD-SCDMA handsets, according to Jian-Zhou Wang, CEO of China Mobile, as cited by a Chinese language Economic Daily News (EDN) report.

The subsidy covers applications such as 2G and 3G handsets and mobile Internet cards, the report noted.
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Re: China Mobile 0941

Postby winston » Thu Feb 12, 2009 2:39 pm

DJ MARKET TALK: ML Cuts China Mobile Target To HK$86;Keeps At Buy

1311 [Dow Jones] STOCK CALL: Merrill Lynch cuts China Mobile's (0941.HK) target to HK$86.00 from HK$90.00 as it rolls over DCF valuation one year forward to 2018. Says overall economic slowdown, large surplus capacity induced tariff decline and price competition all point to challenging telecom industry revenue growth environment for 2009.

Still, maintains Buy call; "despite top line growth concerns, China Mobile remains our top pick as it benefits from strong nationwide distribution networks, and rural stimulus policies as homecoming migration workers reactivate services." Stock off 3.2% at HK$72.10
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Re: China Mobile 0941

Postby winston » Tue Feb 17, 2009 10:38 am

DJ MARKET TALK: China Mobile Likely To Ignore Chmn's M&A Comment

0916 [Dow Jones] China Mobile (0941.HK) unlikely to react much to Chairman Wang Jianzhou's comment economic crisis creating buying opportunities for telcos looking to expand; Wang makes comment while attending Mobile World Congress trade fair in Barcelona.

Such comment doesn't necessarily indicate world's largest mobile operator hunting specific targets; also given China Mobile's market cap of HK$1.481 trillion, any assets buy would have to something big to make meaningful impact.

Wang adds besides Paktel, its operation in Pakistan, China Mobile doesn't have any immediate plans for further international expansion. Stock closed down 1.1% at HK$73.85 yesterday
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Re: China Mobile 0941

Postby winston » Tue Feb 17, 2009 12:09 pm

China Mobile (0941.HK) was down 3.2 percent at HK$71.5 after Deutsche Bank downgraded the index heavyweight to hold from buy, citing increased competition from rival China Telecom (0728.HK).

The investment bank also slashed its target price on the stock to HK$72.30 from HK$103.40
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Re: China Mobile 0941

Postby winston » Tue Feb 17, 2009 12:27 pm

Factory closures take toll on China Mobile revenues

The head of China Mobile, the mainland's biggest mobile phone operator, said factory closures and the return of rural workers to their villages have hit revenues.

''China has felt the impact of the financial crisis,'' chief executive Wang Jianzhou said on the sidelines of industry event Mobile World Congress.

''Because of the reduction in exports we had a decline in international calls which reduced our revenue. Because of the closing down of some factories, many workers have gone back to rural areas, which reduced the usage of mobile communications,'' he added.

But Wang said the company is still growing strongly despite the financial crisis, pointing to millions of new customers added last year that have taken total subscriber numbers to 460 million.

''Even in difficult times, people need to use their mobile phones,'' he said.

AGENCE FRANCE-PRESSE
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Re: China Mobile 0941

Postby winston » Tue Feb 17, 2009 3:33 pm

China Mobile to invest US$500 mln in Pakistan this year

Feb. 16, 2009 (China Knowledge) - China Mobile Communications Corp, parent of China Mobile Ltd<941><CHL>, said the company will invest US$500 million in Pakistan this year, said the telecom carrier's unit in Pakistan, the official Xinhua News reported on Friday.

The money will be mainly spent on the construction of new network and other infrastructure, according to China Mobile Pakistan Ltd (CMPak), China Mobile's wholly owned unit in Pakistan.

In 2007, China Mobile acquired 100% stake in Paktel and renamed the company to CMPak, which was valued at US$460 million.

So far CMPak has invested more than US$1.6 billion in the telecom sector in Pakistan, creating 41,700 job opportunities for the country, said Zafar Usmani, chief operating officer of CMPak.
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Re: China Mobile 0941

Postby winston » Wed Feb 18, 2009 9:59 am

Small Put Position to follow story..

================================

DJ MARKET TALK: UOB Lowers China Mobile Target But Still Top Pick


0823 [Dow Jones] STOCK CALL: UOB KayHian tips China Mobile (0941.HK) as "most defensive telco in a weak economy," citing relatively defensive earnings outlook, attractive valuation at 10.6X 2009 P/E, 4% dividend yield.

House trims China Mobile's FY08-10 earnings forecasts due to weaker-than-expected industry data, change in China's GDP growth forecast; now expects 29.3% on-year earning growth in FY08, growth rate then declines to 3.5%, 5.9% in 2009, 2010 respectively.

Still, China Mobile remains UOB's top sector pick with Buy call, but lowers target price to HK$90 from HK$95. Stock closed down 4.4% at HK$70.60 yesterday
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