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In the first half of 2021, we recorded operating revenue of RMB443.6 billion, an increase of 13.8% year-on-year. Of this, telecommunications service revenue reached RMB393.2 billion, representing a year-on-year growth rate of 9.8% that outperformed the industry average. Profit attributable to equity shareholders reached RMB59.1 billion, or RMB2.89 per share, up by 6.0% year-on-year. In terms of profitability, we maintained our leading position among top-tier global telecommunications operators. EBITDA totalled RMB162.0 billion, up by 11.2% year-on-year, with an EBITDA margin of 36.5%. EBITDA accounted for 41.2% of telecommunications service revenue, representing a 0.5 percentage points increase year-on- year. Our capital expenditure was RMB86.0 billion and we maintained our free cash flow at a healthy level amounting to RMB75.6 billion, or an increase of 28.0% year-on-year.

For the “Customer” market, we adhered to the strategy of integrating data access, applications and customer benefits, continuously leading the upgrade of personal information and communication consumption. We took various measures to precisely manage our customer base, improve both the quality and scale of our 5G business and create a better customer experience. In order to satisfy the personalized demands of our customers, we launched a range of initiatives, including promoting bundled products through diverse customer touch-points, creating a digital supermarket with integrated content and customer benefits, upgrading the differentiated operating models of the three major brands (GoTone, M-zone and Easy Own) and launching targeted marketing services using big data. As of the end of June 2021, the number of mobile customers reached 946 million, a net addition of 3.59 million. Of these, 251 million were 5G package customers, representing a net addition of 86 million. The number of customers with integrated benefit products reached 110 million, representing a net addition of 31.35 million. The number of monthly active users of our cloud product “and-Caiyun” reached 116 million. Mobile ARPU (average revenue per user per month) reached RMB52.2, an increase of 3.8% year-on-year, reversing the downward trajectory seen since 2018. Our DOU (average handset data traffic per user per month) increased by 38.7% to 11.9GB. Revenue from the “Customer” market achieved positive growth, increasing by 0.7% year-on-year to RMB255.5 billion.

For the “Home” market, we strived to set up a service suite that combines full-gigabit network connections with cloud-based applications. To foster leadership in broadband services, we improved our service quality by speeding up the upgrade of gigabit broadband and optimizing our end-to-end service and quality management system; to foster leadership in TV services, we enhanced our TV content by strengthening the integrated operation of “big-and-small screen” content and creating a household information service portal consisting of “broadband television”, “digital cinema” and “vertical content”; to foster leadership in smart home services, we strengthened our applications by covering more household service scenarios and boosting the uptake of household applications including smart home network deployment, home security and voice remote controls. In the first half of 2021, with a net addition of 13.39 million, the number of household broadband customers reached 205 million. Of these, our digital set-top box “Mobaihe” registered a total of 154 million customers, accounting for 74.8% of the household broadband customer base. Thanks to the traction created by the upgrade of broadband and the integration of value-added applications, household broadband blended ARPU reached RMB41.1, an increase of 16.2% year-on-year. Revenue from the “Home” market maintained rapid growth, increasing by 33.7% year-on-year to RMB50.1 billion.

For the “Business” market , we focused on key products and industries and continued to promote the integrated development of network, cloud and DICT. We put emphasis on forging our differentiated advantages in the convergences of cloud and network, cloud and big data, cloud and intelligence, and cloud and edge computing, further strengthened the capability of our cloud-based products and invested in talents in the field of cloud. In doing so, we reinforced our leading position in 5G and were able to create high-quality showcases and put into commercial use our capabilities in the fields of 5G and artificial intelligence (AI), Internet of Things (IoT), cloud computing, big data and edge computing (collectively “AICDE”) to expand our business scale in different vertical industry segments. In the first half of 2021, our corporate customers showed a net addition of 1.69 million, bringing the total to 15.53 million. Revenue from the “Business” market maintained rapid growth, increasing by 32.4% year-on-year to RMB73.1 billion. The revenue from dedicated lines increased by 7.7% year-on-year, totalling RMB13.5 billion. The revenue from DICT reached RMB33.4 billion, representing year-on-year growth of 59.8%. This contributed 3.5 percentage points to the growth of telecommunications service revenue, a rate that was amongst the highest in the industry. Mobile cloud revenue reached RMB9.7 billion, up by 118.1% year-on-year. Of this, the revenue of our public cloud business ranked in the top 10 in the industry. Our IDC business recorded revenue of RMB11.8 billion, an increase of 27.0% year-on-year. A total of 372,000 IDC cabinets were available for use, representing a net increase of 12,000.

For the “New” market, we drew on the spirit of innovation, entrepreneurship and originality, and strived to expand the scale of our new businesses. Our efforts have yielded notable results. In the first half of 2021, revenue from the “New” market achieved rapid double-digit growth, increasing by 22.6% year-on-year to RMB14.5 billion. With regard to the international business, we continued to enhance our international operations while deepening synergy between the domestic and international markets, thus maintaining our leading position in certain regional markets overseas. We further optimized the deployment of international resources to drive the high-quality development of the business. In the first half of 2021, our international business revenue reached RMB6.8 billion, representing an increase of 19.5% year- on-year. With regard to equity investment, we further optimized our investment allocation and strategic coordination in “5G+” and key areas of the CHBN markets. By establishing the dual connection of industry and capital, we further expanded our “relative circle” in information services and nurtured the digital-intelligent industry ecosystem. In the first half of 2021, our equity investment income accounted for 11.0% of our net profit. In terms of digital content and FinTech, we have been developing high-quality Internet products in areas such as videos, games, virtual reality (VR) and payment systems to constantly improve our products and enhance user experience. As of the end of June 2021, the number of monthly active users of MIGU Video across all platforms increased by 14.5% year-on-year. The number of customers using video connecting tones approached 190 million while the number of active users of “and-Wallet” increased by 31.5% year-on-year.

We continued to make forward-looking deployment plans and make targeted investments, proactively promoting the construction of new infrastructure. In the first half of 2021, we spent an overall CAPEX of RMB86.0 billion. Major areas of investments included the construction of a premium 5G network, cloud basic infrastructure, “4+3+X” data centres, as well as promoting smart transformation of our networks. We plan to spend a total CAPEX (including 5G-related CAPEX) of RMB183.6 billion for full-year 2021.

To create higher returns for its shareholders and share the results of its operating gains, after giving full consideration to its profitability, cash flow generation and future development needs, the Company has decided to pay HK$1.63 per share for the 2021 interim dividend, representing an increase of 6.5% year-on-year. The Company will strive to achieve favourable growth in full-year dividend per share and continuously create greater value for shareholders.

China Mobile will adhere to the strategy of becoming a world-class enterprise by building a dynamic “Powerhouse”, following the path of digital-intelligent transformation to strive for high-quality growth. We will develop innovative digital-intelligent products and promote the extension of our product offerings from the realm of telecommunications services to that of information services. We will strengthen our digital-intelligent networks and build up a network system that is characterised by the convergence of cloud and network, as well as by a high level of automation and intelligence. We will establish a digital-intelligent mid-end platform to support innovation and a digital-intelligent organisation equipped with sound systems and talented teams to satisfy the needs of our digital-intelligent transformation. In addition, we will nurture a digital-intelligent ecosystem and proactively create a digital-intelligent cluster to bring together different forces and unlock the potential of the digital space on a broader scale and at a deeper level. With our all-out efforts in the five areas above, we will make every endeavor to develop our second curve of growth and create new growth drivers in the process of promoting the digital-intelligent transformation of the economy and society, thus generating greater value for our shareholders and customers.

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