Comba Telecom Rings Up Red Ink On 5G Spending Slowdown
Portfolio Pulse from The Bamboo Works
Comba Telecom reported a loss in the first half of the year due to a slowdown in 5G network spending by China's three main wireless carriers. The company's cash position fell by 20%, and it canceled its final dividend last year. Rival AsiaInfo also reported its first-ever loss since its Hong Kong listing in 2018. China's telecoms spending cuts are expected to continue, impacting companies like Comba and AsiaInfo.
August 05, 2024 | 2:43 pm
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AsiaInfo reported its first-ever loss since its Hong Kong listing in 2018 due to a decline in revenue caused by reduced 5G network spending in China.
AsiaInfo's financial performance has been negatively impacted by the reduction in 5G network spending by China's main wireless carriers, leading to its first-ever loss since its Hong Kong listing.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Comba Telecom reported a loss of up to HK$160 million for the first half of the year due to a slowdown in 5G network spending by China's main wireless carriers. The company's cash position fell by 20%, and it canceled its final dividend last year.
The significant reduction in 5G network spending by China's main wireless carriers has directly impacted Comba Telecom's financial performance, leading to a substantial loss and a decline in cash reserves. The cancellation of the final dividend further indicates financial strain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100