本文件的中英文版本如有任何歧異，概以英文版本為準。 香港電訊有限公司（「香港電訊」或「本公司」） （於開曼群島註冊成立的有限公司） （連同香港電訊信託（股份代號：6823）） 提名委員會 職權範圍 經本公司董事會於 2025 年 11 月 13 日修訂及批准 組成 1. 本公司董事會（「董事會」）於 2011 年 10 月 11 日決議成立一個董事會轄下委員會，稱為 提名委員會（「委員會」），於香港電訊信託及本公司的上市日期起生效。 成員 出席會議 會議次數 7. 委員會須每年召開最少一次會議，並於其認為對執行其職責而言屬適當的情況下召開會議。 權力 - 1 - 3. 委員會成員須由董事會委任，並由至少三名成員組成，其中大多數成員須為本公司獨立非執 行董事，而至少一名成員為不同性別。 4. 委員會主席須由董事會委任，並須為董事會主席或獨立非執行董事。 目標及角色 5. 委員會於其認為適當時可邀請任何董事、高級管理層成員或其他人士出席委員會會議。 6. 委員會秘書須由本公司公司秘書或其代名人擔任。 2. 委員會的主要目標是協助董事會確保董事委任及重新委任的程序公平並具透明度，以及確保 董事會持續具備符合本公司業 ...

FF301 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06823 | 說明 | | 普通股（為股份合訂單位的組成部分） | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | 0.0005 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 20,000,000,000 | HKD | 0.0005 | HKD | | 10,000,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 香港電 ...

Core Viewpoint - UBS reports that the potential revocation of telecommunications service licenses for Hong Kong Telecom-SS (06823) by the FCC will have a limited impact on the company's profitability due to its minimal exposure to the U.S. market, which accounts for less than 1% of total revenue [1] Group 1 - The U.S. market represents less than 1% of Hong Kong Telecom's total revenue, and the profitability of this business segment is relatively low [1] - UBS forecasts an attractive dividend yield of approximately 7.6% for 2026, which could support the stock price amid rising regulatory uncertainties [1] - UBS maintains a "Buy" rating for Hong Kong Telecom with a target price of HKD 13.4 [1]

Core Viewpoint - UBS reports that the potential revocation of telecommunications service licenses for Hong Kong Telecom-SS (06823) by the FCC will have a limited impact on the company's profitability due to its minimal exposure to the U.S. market, which accounts for less than 1% of total revenue [1] Summary by Category - **Regulatory Impact** - The FCC's proposed ban is not expected to significantly affect Hong Kong Telecom's earnings as the U.S. market represents a small portion of its overall revenue [1] - **Financial Metrics** - The business in the U.S. has a relatively low profit margin, further mitigating the potential impact of the regulatory changes [1] - **Investment Outlook** - UBS forecasts an attractive dividend yield of approximately 7.6% for 2026, which could support the stock price amid rising regulatory uncertainties [1] - The firm maintains a "Buy" rating on Hong Kong Telecom with a target price of HKD 13.4 [1]

Core Viewpoint - The potential ban by the FCC on Hong Kong Telecom's subsidiary providing telecommunications services in the U.S. is expected to have a limited impact on the company's profitability due to its minimal exposure to the U.S. market [1] Summary by Category Financial Impact - The U.S. market accounts for less than 1% of the company's total revenue, and the profit margin from this business is relatively low [1] - UBS forecasts an attractive dividend yield of approximately 7.6% for 2026, which could support the stock price amid rising regulatory uncertainty [1] Investment Rating - UBS maintains a "Buy" rating for Hong Kong Telecom with a target price of HKD 13.4 [1]

Core Viewpoint - Morgan Stanley reports that the FCC plans to revoke HKT International's operating qualifications in the U.S. due to its ties with China Unicom Americas, but the impact on HKT's fundamentals is expected to be manageable [1] Company Summary - HKT International's international business revenue (excluding Greater China) is projected to account for less than 7% of total revenue in 2024, with the U.S. market representing approximately 1% [1] - The profit margin of HKT's international business is generally lower than that of its local operations [1] - Morgan Stanley maintains a target price of HKD 13 for HKT and an "Overweight" rating despite the uncertainty surrounding the situation [1] Industry Summary - The potential revocation of operating qualifications by the FCC may lead to sustained negative market sentiment due to the uncertainty of the developments [1]

Core Viewpoint - Morgan Stanley reports that the FCC plans to revoke HKT International's operating qualifications in the U.S. due to its connection with China Unicom Americas, but the impact on HKT's fundamentals is expected to be manageable [1] Company Summary - HKT International's international business revenue (excluding Greater China) is projected to account for less than 7% of total revenue in 2024, with the U.S. market representing approximately 1% [1] - The profit margin of international business is generally lower than that of local operations [1] - Morgan Stanley has set a target price of HKD 13 for HKT and maintains an "Overweight" rating [1] Market Sentiment - There is potential for continued negative market sentiment due to the uncertainty surrounding the situation [1]

Core Viewpoint - The FCC plans to revoke the operating license of HKT International, a wholly-owned subsidiary of Hong Kong Telecommunications, in the United States, which may lead to a negative market sentiment despite the manageable impact on the company's fundamentals [1] Summary by Category Company Impact - If the revocation process is enacted, the impact on Hong Kong Telecommunications' fundamentals is expected to be controllable, as its international business revenue (excluding Greater China) is projected to account for less than 7% of total revenue in 2024 [1] - The revenue from the U.S. market constitutes approximately 1% of the total revenue, indicating limited exposure to potential losses from this decision [1] - The profit margin from international operations is generally lower than that of local business, further mitigating the potential financial impact [1] Market Sentiment - Due to the uncertainty surrounding the situation, negative market sentiment may continue to escalate, affecting the stock performance of Hong Kong Telecommunications [1] - Morgan Stanley has set a target price of HKD 13 for Hong Kong Telecommunications and maintains an "Overweight" rating, reflecting a cautious optimism despite the challenges [1]

Core Viewpoint - Hong Kong Telecommunications (HKT) has seen its stock price drop over 6% following the announcement by the FCC to revoke its operating authorization in the U.S. due to national security concerns [1] Company Summary - HKT's stock price fell by 6.08%, trading at HKD 10.97 [1] - The trading volume reached HKD 337 million [1] Industry Summary - The FCC's decision reflects increasing scrutiny on foreign telecommunications companies operating in the U.S., highlighting potential national security risks [1]

Core Viewpoint - Hong Kong Telecom-SS (06823) experienced a significant decline of over 6% in its stock price, attributed to the revocation of its operating authorization in the U.S. due to national security concerns [1] Company Summary - Hong Kong Telecom's stock price fell by 6.08%, reaching HKD 10.97, with a trading volume of HKD 337 million [1] - The U.S. Federal Communications Commission (FCC) announced the withdrawal of HKT International's operating authorization in the United States, citing national security reasons [1]