China Mobile (Hong Kong) Limited is pleased to have been ranked as the #1 best managed company in China by the international renowned financial magazine "Euromoney" in their seventh annual poll of Asia's best companies. The ranking is based on a survey of market analysts at major banks and research institutes in Asia with reference to quality of management, market strength, profitability, growth potential and earnings of companies.
China Mobile (Hong Kong) Limited is pleased to have been awarded the "Best IR by a Mainland Chinese Company" and "Best Roadshow" in the Asia Awards 2002 by the renowned magazine "Investor Relations".
China Mobile (Hong Kong) Limited is pleased to have been ranked #1 for Asia's telecoms sector in the first ever in-depth best corporate governance poll compiled by the renowned financial magazine "asiamoney"
China Mobile (Hong Kong) Limited has commercially launched its Multi-media Message Service (MMS) since the beginning of October 2002 and become the first mobile carrier offering this service in mainland China. MMS is charged at Rmb0.9 per message while customers enjoy one free message for every two messages sent within the promotional period of this new service. Characterized by the capability to deliver message in the combined form of colored pictures, sound and text, MMS is widely recognized as a promising new business. The company believes that the launching of MMS will further drive the future development of our mobile data business.
Renowned financial magazine Forbes has announced its results of Forbes International 500 and The Global 500 for 2002. In Forbes International 500 (excluding U.S based companies), in terms of revenue base, CMHK leapfrogged 118 places to 214 from 332 in 2001. In the World 's 500 Largest Public Companies (including U.S based companies), CMHK has been ranked 159 in this first ever sorting by Forbes, which is based on composite evaluation criteria including revenues, profits, assets, market value.
The Company is pleased to be ranked #1 in "The Top 200 Emerging-Market Companies" in 2002 by the renowned business magazine, BusinessWeek. This is the third time in a row for the Company to receive first place of this ranking, which sorts companies by market capitalization.
China Mobile (Hong Kong) Limited is pleased to have been ranked #1 again in the China Division, and #7 in the weighted pan-Asian league table in the "Asia's Best Credits 2002" survey by the highly-regarded financial magazine, "The Asset"
With a view to better accommodating our customers' payment habits and preferences, starting from July 2002, the Company changed its monthly billing period, which formerly ended on the 20th of each calendar month, to the last day of each month (i.e., billing months are now based on full calendar months). Beginning from 20 July and continuing on the 20th of each month thereafter, the Company will disclose its consolidated subscriber numbers as of the end of the preceding billing month. The breakdown of subscriber numbers by provinces as of the end of a year will also be released on the 20th of January in the following year. The combined subscriber numbers of the 8 newly acquired mobile telecommunications companies for the second half of 2002 will also be disclosed on a monthly basis.
The Company is pleased to announce that the acquisition of 8 mobile telecommunications companies was completed today. Together with its original 13 operating subsidiaries, the Company's operations now extend to mobile networks covering 21 provinces, municipalities and autonomous region with a combined subscriber base exceeding 100 million. We believe that this acquisition will enable the Company to further strengthen its market leadership, enhance its growth prospects and create value for its shareholders.
CMHK was ranked sixth in Business Week's Information Technology100. The ranking was based on four criteria: shareholder return, revenue growth, return on equity and total revenues.
On 1 June 2002, credit agency Moody's reaffirmed CMHK's senior unsecured rating of "Baa2", ascribing a "stable" outlook to this rating. Subsequently, on 4 June 2002, credit rating agency Standard & Poor's issued an announcement reaffirming CMHK's long-term foreign currency corporate credit rating of "BBB", which is equivalent to that agency's sovereign rating on the People's Republic of China.
Credit rating agency Standard & Poor's has reaffirmed CMHK's long-term foreign currency corporate credit rating of "BBB", which is equivalent to that agency's sovereign rating on the People's Republic of China. The credit agency stated that the outlook on the CMHK rating is "stable". This credit rating is the result of a strict assessment by Standard & Poor's of the company's business and financial positions and, particularly, the current acquisition of the eight mobile telecommunications companies in China. Standard & Poor's affirmation of the BBB rating not only highlights the Company's strong business profile, which is characterized by its leading position in China's mobile telephone market, but also accounts for such factors as market competition, market deregulation and the risks it associated with the Company's growth strategy.
With the arrival of World Telecommunication Day, China Mobile's GPRS ("General Packet Radio Service") will commence commercial service on May 17, subsequent to the completion of its commercial trial run. Currently, the major market for GPRS is concentrated in the Eastern costal area of China. In order to ensure high service quality and fulfill the customer demand for roaming services, the current GPRS network covers 240 major cities nationwide. Our company always strives hard for mobile data business development. We will utilize our unified brand for mobile data business, "Monternet", to launch informational and entertainment related applications and businesses to suit specific characteristics of different consumer groups. A theme service will also be provided during the period of World Cup. We believe that the GPRS based applications and businesses will further enrich the product contents of "Monternet" , which allows us to expand room for faithful co-operation with application developers, terminal manufacturers and system integration service providers, to jointly create a new territory of mobile internet.
At CMHK's corporate presentation of the acquisition of eight mobile communication companies on May 16, Mr. Wang Xiaochu, Chairman and Chief Executive Officer, said, "this acquisition represents a further step in the implementation of our growth strategy to achieve nationwide dominance. The 8 targets of our pending acquisition are located in the central part of China. These areas are entering a stage of very rapid economic growth. Upon the completion of the acquisition, CMHK's service area will cover a population exceeding 1 billion, thus providing significant growth potential for the future development of mobile businesses. I am very pleased to announce here that, as at 20th April 2002, our total combined number of subscribers in the 13 operating subsidiaries and the 8 target companies exceeded 100 million, a number far higher than that of any other operator of a contiguous mobile network anywhere in the world."
China Mobile (Hong Kong) Limited has been selected as the only company in China, which is included in the international renowned business magazine Forbes Global's A-List of the world's 400 best big companies for the year 2002. Those best big companies had been subjected to a rigorous performance evaluation, including return on equity, revenue growth, stock performance and earnings forecast.
CMHK is pleased to be awarded "Best Financial Management" in China in the" Asia's Best Companies 2002" survey conducted by FinanceAsia.
CMHK recorded a short message service ("SMS") usage of more than 100 million messages on 11 February 2002 (Lunar New Year's Eve), compared with a total usage volume of 1.3 billion messages for the first half of 2001. This sets a record for a single day since our launch of SMS and indicates promising prospects for our mobile data businesses.
CMHK is pleased to be ranked first in "Best in corporate governance - China" in the survey "Asset Benchmark Research" of the renowned financial magazine "The Asset" in January 2002.
In response to enquiries from the press, the Company wishes to state that the Company has not made any decision regarding dividends for the financial year of 2001. On approving the financial accounts for the year of 2001, the Board of Directors of the Company will carefully study, among other matters, the cash-flow, profit, CAPEX plan and funding requirements of any potential acquisition opportunities of the Company, and make a decision in the best interests of the shareholders of the Company.