Total connections surpassed 3.50 billion, with a net addition of 150 million, so almost every third connection is a mobile customer. Around one half of mobile costumers were 5G network connections in the first half of 2024.

Although the operating profit (EBITDA) decreased softly (-0.6 %) to RMB 182.3 billion, the net profit (attributable to equity shareholders) increased by 5.3% year-on-year to RMB 80.2 billion. earnings per share were RMB 3.75.

China Mobile increased its return on equity (ROE) by 0.3 percentage points year-on-year to 11.8 %, so the profitability was maintained among top-tier global telecommunications operators, according to the China Mobile´s report on interim results.

„The evolving external environment has introduced growing adverse impacts, while effective demand has persistently remained inadequate. Our business transformation is clouded by the transitional phase between old and new growth drivers, introducing an element of uncertainty,“ the report says.

China Mobile is determined to develop new quality productive forces at an accelerated pace, promote digital-intelligent transformation and high-quality growth.

China Mobile´s stocks have responded with a slight increase when the interim report was released. In terms of year-to-date development, the stocks have strengthened by 2.7 %, which is nearly the same development as on the year-on-year basis. The company´s stocks have firmed by nearly 76 % in last five years.

Performance of China Mobile Ltd.´s stock over 5 years. Source: tradingview.com

Oleh Shalenyk, financial analyst of Alpho

* Past performance is no guarantee of future results.