China Unicom drops to near one-year low on VAT adjustments; rivals down

China Mobile

02/02/2026 04:50

** Shares of China Unicom 0762.HK tumble 11.1% to HK$7.07, their lowest level since February 5, 2025

** Stock marks its biggest intraday pct decline since April 7, 2025, and is top pct loser in benchmark Hang Seng Index .HSI, which falls 2.4%

** The telecom group said China's adjustments to the scope of application of Value-Added Tax (VAT) Categories for telecommunications services, with VAT rate adjusting to 9% from 6% will have an impact on its revenue and profit

** China Telecom and China Mobile also say the adjustments of VAT will impact their revenue and profits, sending their Hong Kong-listed shares down to lowest point in a year

** China Telecom 0728.HK drops 9.1% to HK$4.89, the lowest level since February 6, 2025

** China Mobile 0941.HK falls 4.9% to HK$75.85, the lowest point since February 7, 2025

** YTD, China Unicom down 6.8%, China Telecom 0728.HK down 7.8%, China Mobile 0941.HK down 5.1%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))