智通财经网·2025-10-24 03:11Core Viewpoint - Morgan Stanley has set a target price of HKD 9.5 for China Unicom (00762) and assigned an "Overweight" rating [1] Financial Performance - In Q3, China Unicom's service revenue was RMB 83 billion, remaining flat year-on-year, which met Morgan Stanley's expectations [1] - The cloud revenue for China Unicom increased by 26% year-on-year to RMB 15.3 billion [1] - EBITDA for the period was RMB 25.4 billion, also flat year-on-year, aligning with the bank's forecast [1] - The service EBITDA margin stood at 30.5% [1] - Net profit grew by 5.3% year-on-year to RMB 5.5 billion, in line with expectations, benefiting from a decrease in depreciation costs [1] Corporate Actions - The company plans to spin off its Smart Network Technology for a listing on the ChiNext board, pending regulatory approval [1]