Sou Hu Cai Jing·2026-02-02 16:52Summary of Key Points Core Viewpoint - The adjustment in the VAT rate for basic telecommunications services from 6% to 9% will impact the revenue and profit of China Telecom, which is focusing on advancing its cloud and AI strategies for high-quality development [1][2]. Trading Information - On February 2, China Telecom's stock closed at 5.74 yuan, down 4.33%, with a turnover rate of 0.5%, a trading volume of 3.9159 million shares, and a transaction value of 2.252 billion yuan [1]. - On the same day, the net outflow of main funds was 54.6244 million yuan, accounting for 2.43% of the total transaction value, while retail investors experienced a net outflow of 54.3671 million yuan, also representing 2.41% of the total transaction value [1][2]. Company Announcement - The Ministry of Finance and the State Taxation Administration announced that starting from January 1, 2026, the applicable tax category for mobile data services, SMS, MMS, and internet broadband access services will change from value-added telecommunications services to basic telecommunications services, resulting in an increase in the VAT rate from 6% to 9% [1][2]. - China Telecom will continue to promote its cloud transformation strategy and accelerate the development of technology-driven enterprises, implementing AI initiatives to create integrated intelligent cloud services [1].