5月(yue)13日，港股午盤(pan)持(chi)續強勢，港股國(guo)企ETF（513810）翻紅微漲(zhang)，持(chi)倉(cang)股漲(zhang)跌(die)(die)互現。盤(pan)面上，中國(guo)太平領(ling)漲(zhang)近8%，中國(guo)太保、招商局港口漲(zhang)超4%；下(xia)跌(die)(die)方(fang)面，兗礦能源、中國(guo)海洋(yang)石(shi)油均跌(die)(die)超2%。港股國(guo)企ETF（513810）緊密跟蹤港股“中特(te)估”投資主線(xian)，聚焦五大國(guo)有(you)行(xing)、三大通信服務商、“三桶油”等大市值行(xing)業龍(long)頭(tou)股。

華泰證(zheng)券(quan)認為(wei)(wei)(wei)，2023年(nian)(nian)(nian)以來，電信運(yun)營(ying)商(shang)板塊表現出穩增(zeng)長(chang)、高(gao)分紅(hong)(hong)(hong)、股(gu)(gu)(gu)價波動(dong)(dong)率(lv)較低的特(te)性，成為(wei)(wei)(wei)高(gao)股(gu)(gu)(gu)息(xi)策(ce)略的優質選擇。EPS、分紅(hong)(hong)(hong)率(lv)、紅(hong)(hong)(hong)利稅為(wei)(wei)(wei)影響運(yun)營(ying)商(shang)港(gang)股(gu)(gu)(gu)投資(zi)者(zhe)長(chang)期股(gu)(gu)(gu)息(xi)回報的關鍵要(yao)素：（1）EPS方(fang)(fang)面，2024Q1運(yun)營(ying)商(shang)業績保(bao)持良(liang)(liang)好增(zeng)長(chang)，且2024年(nian)(nian)(nian)三(san)大運(yun)營(ying)商(shang)資(zi)本開支預算(suan)均(jun)有一定程度(du)下(xia)降(jiang)，為(wei)(wei)(wei)未來EPS穩增(zeng)長(chang)提(ti)供良(liang)(liang)好的保(bao)障(zhang)；(2）分紅(hong)(hong)(hong)率(lv)方(fang)(fang)面，移動(dong)(dong)、電信擬三(san)年(nian)(nian)(nian)內進一步(bu)提(ti)升分紅(hong)(hong)(hong)率(lv)至75%；（3）紅(hong)(hong)(hong)利稅方(fang)(fang)面，香(xiang)港(gang)證(zheng)監會主席(xi)建議降(jiang)低港(gang)股(gu)(gu)(gu)通個人(ren)投資(zi)者(zhe)股(gu)(gu)(gu)息(xi)紅(hong)(hong)(hong)利稅收水(shui)平。當前(qian)EPS、紅(hong)(hong)(hong)利稅、分紅(hong)(hong)(hong)率(lv)等要(yao)素的預期均(jun)呈(cheng)現出向好態勢，有望推動(dong)(dong)運(yun)營(ying)商(shang)港(gang)股(gu)(gu)(gu)配置價值提(ti)升。