Elevator Pitch
I maintain my Neutral rating on Hong Kong-listed Chinese telecommunications tower infrastructure service provider China Tower Corporation Limited (OTCPK:CTOWY) [788:HK].
China Tower's core tower business revenue growth in 1H 2020 was below expectations, notwithstanding a decent financial performance for the company as a whole over the same period. Looking ahead, China Tower's future growth prospects are dependent on the pace of the 5G network roll-out in Mainland China and the rate of growth of its non-tower businesses.
This is an update of my prior article on China Tower Corporation published on