HKT(HK:06823) Ge Long Hui·2025-08-01 06:38Core Viewpoint - UBS's research report indicates that Hong Kong Telecom's EBITDA for the first half of the year increased by approximately 3% year-on-year to HKD 6.4 billion, aligning with market expectations. However, net profit appears to be below market expectations, potentially due to higher-than-expected interest expenses, as the benefits of lower HIBOR have not fully reflected in the first half [1] Group 1 - The company's operational performance remains robust, with a year-on-year EBITDA increase of about 3% to HKD 6.4 billion [1] - Net profit is reportedly lower than market expectations, attributed to higher interest expenses [1] - The lower HIBOR benefits have not been fully realized in the first half of the year [1] Group 2 - UBS has raised its revenue forecast for the fixed-line business (TSS) for 2025 to 2027 by 2% to 3%, which contributes to an overall revenue forecast increase of 1% to 2% for the period [1] - The target price for the company has been slightly increased by approximately 3%, from HKD 13 to HKD 13.4, while maintaining a "Buy" rating [1]