HKT(HK:06823) Zhi Tong Cai Jing·2025-10-16 08:23Core 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]