Ge Long Hui A P P·2025-10-23 05:44Core Viewpoint - Morgan Stanley's research report indicates that China Telecom's service revenue growth in Q3 was 0.5% year-on-year, a slowdown from 2.1% in Q2, while net profit growth also decelerated from 7.1% in Q2 to 3.6% in Q3 [1] Summary by Category Financial Performance - China Telecom's service revenue growth of 0.5% in Q3 was slightly lower than its competitor China Mobile's growth of 0.8% [1] - The net profit growth of China Telecom at 3.6% was faster than China Mobile's 1.9% [1] Market Expectations - The slowdown in communication service revenue growth aligns with market expectations, according to Morgan Stanley [1] - The firm maintains an "overweight" rating on China Telecom, highlighting it as a quality value stock in the market [1] Future Outlook - Morgan Stanley anticipates that for China Telecom's stock performance to improve, there will need to be a resurgence in cloud and IDC revenue growth driven by industrial digitalization [1] - A target price of HKD 7.5 has been set for China Telecom's stock [1]