China Unicom stock reports a 34.6 percent profit decline for 1H 2026

China Unicom stock (ISIN HK0000049939) was last at HKD 5.44 on the Hong Kong Stock Exchange on October 6, 2026, after the company reported a 34.6 percent year-over-year decline in first-half net profit to RMB 9,468 million. The results put the telecom group's AI and cloud expansion beside a clear pressure point in its traditional service business.

Profit falls as revenue stays flat

According to China Unicom in its interim results released on August 18, 2026, operating revenue reached RMB 201,364 million in the first half, up 0.6 percent from the prior-year period. Service revenue moved in the opposite direction, falling 0.2 percent to RMB 177,956 million.

Basic earnings per share fell 34.6 percent year over year to RMB 0.309, while EBITDA declined less sharply than profit, reaching RMB 47,416 million, down 12.6 percent. The contrast matters because the revenue base was broadly stable even as labor-cost timing and value-added tax effects weighed on earnings.

AI operations provide the growth leg

The strongest operating comparison came from computing power services. Moomoo reported that computing power revenue rose 13 percent year over year to RMB 41.9 billion in the first half of 2026, with intelligent computing center revenue up 11 percent and intelligent computing revenue up 9 percent.

China Unicom also reported 248.505 million 5G network subscribers and 772.608 million Internet of Things terminal connections in June 2026. That scale gives the company a large base for digital services, but the 0.2 percent decline in service revenue shows that growth in newer businesses has not yet translated into broader top-line acceleration.

Analyst targets remain widely spread

According to Moomoo on September 12, 2026, 13 analysts expected 2026 revenue of CNY 391.1 billion and earnings per share of CNY 0.58. The consensus price target stood at HKD 8.04, with a high of HKD 13.36 and a low of HKD 6.09.

At HKD 5.44, the consensus target lies 47.8 percent above the stock price. The wide HKD 7.27 spread between the highest and lowest estimates highlights the central debate: whether computing power growth can offset slower service revenue and near-term cost pressure.

MarketScreener reported on September 10, 2026, that UBS upgraded China Unicom from Neutral to Buy and set a HKD 7.10 price target. That target lies 30.5 percent above the October 6 price, adding a more constructive view alongside the broader range of estimates.

China Unicom stock stays below yearly high

The stock's October 6 range was HKD 5.43 to HKD 5.48, with volume of 4,176,340 shares. Its 52-week range of HKD 5.38 to HKD 9.92 places the last price 45.2 percent below the high, while market capitalization stood at HKD 166.5 billion on the same date.

Upcoming dates for China Unicom stock

• October 27, 2026: Next earnings report

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