Zhi Tong Cai Jing·2025-11-26 07:03Core Viewpoint - China Tower's stock price increased by over 4%, reaching HKD 12.46, with a trading volume of HKD 502 million, following the announcement of its 2025 Technology Innovation Conference [1] Group 1: Company Performance - China Tower has built over 7 million base station projects, including more than 3 million 5G base stations, saving the industry over RMB 400 billion in construction and operational costs [1] - China Galaxy Securities initiated coverage on China Tower with a "recommended" rating, highlighting the company's leading position and significant scale effects [1] Group 2: Financial Insights - The depreciation of 1.5 million existing towers will be completed by October 2025, leading to the release of depreciation benefits [1] - Since its listing, the company has maintained an average dividend payout ratio of 60.9%, indicating a commitment to returning value to investors [1]