Hong Kong · Delayed Price · Currency is HKD China Mobile Earnings Call Transcripts
Fiscal Year 2026
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Operating revenue and net profit declined year-on-year but grew on a comparable basis, with strong free cash flow and robust customer growth. Investments in computing and AI infrastructure surged, and international market revenue grew 30.1%.
Fiscal Year 2025
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Revenue rose 0.9% to CNY 1,050.2bn; comparable net profit grew 2%, while reported net profit fell 0.9%. Computing and AI expanded rapidly, and 2026 investment is set to shift toward those networks.
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Stable growth in the first half of 2025 with net profit up 5% year-on-year and strong digital transformation momentum. Segment revenues rose across commercial, home, and new markets, while cost control improved margins. Interim dividend increased 5.8%.
Fiscal Year 2024
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Revenue and net profit reached record highs in 2024, driven by digital transformation, AI, and cloud growth. CapEx and payout ratios improved, with strong cash flow and a focus on high-quality, innovation-led development.
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Operating revenue grew 3% year-on-year to CNY 546.7 billion, with net profit up 5.3% to CNY 80.2 billion. Digital transformation and AI initiatives drove strong segment growth, while CapEx and dividend payouts increased. External risks persist, but outlook remains positive.