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<Research>BOCI: CHINA MOBILE (00941.HK) Quarterly Results in Line; AI/ Cloud IaaS Demand Growth to Boost Growth in 2H25
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Although operational expenses increased due to the development of new AI cloud products and talent recruitment in its view, leading to erosion in EBITDA and profit margins, CHINA MOBILE (00941.HK)'s 3Q25 profit still hiked 1.4% YoY, BOCI published a research report saying.

The broker expected that the booming demand for AI computing power using fully autonomous IP and hardware/ software cloud services will drive telecoms' profits for the remainder of 2025 and beyond.

Related NewsUBS Lowers CHINA UNICOM's TP to HKD11; Rating Kept Buy
BOCI reiterated rating at Buy for CHINA MOBILE (00941.HK), with a target price of $103.2. The broker's preference order for telecoms remains unchanged as CHINA TELECOM (00728.HK), CHINA MOBILE and CHINA UNICOM (00762.HK).
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