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China Mobile
(0941)
China Mobile (0941) vs. iShares MSCI Hong Kong ETF (EWH)
China Mobile Business Overview & Revenue Model
China Mobile Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.07T | 1.04T | 1.01T | 937.26B | 848.26B | 768.07B |
| Gross Profit | 300.01B | 301.77B | 284.70B | 260.16B | 244.07B | 394.15B |
| EBITDA | 317.67B | 293.88B | 346.48B | 336.88B | 313.23B | 260.67B |
| Net Income | 145.73B | 138.37B | 131.77B | 125.46B | 115.94B | 107.84B |
Balance Sheet | ||||||
| Total Assets | 2.31T | 2.07T | 1.99T | 1.90T | 1.84T | 1.73T |
| Cash, Cash Equivalents and Short-Term Investments | 340.48B | 395.47B | 363.92B | 331.79B | 499.87B | 488.44B |
| Total Debt | 108.33B | 88.44B | 102.93B | 112.66B | 56.98B | 66.63B |
| Total Liabilities | 769.65B | 711.59B | 646.67B | 634.12B | 631.03B | 575.11B |
| Stockholders Equity | 1.53T | 1.36T | 1.34T | 1.26T | 1.21T | 1.15T |
Cash Flow | ||||||
| Free Cash Flow | 106.01B | 159.76B | 122.52B | 91.16B | 107.45B | 117.31B |
| Operating Cash Flow | 266.06B | 315.74B | 303.78B | 280.75B | 314.76B | 307.76B |
| Investing Cash Flow | -208.21B | -185.19B | -205.70B | -238.05B | -238.30B | -188.11B |
| Financing Cash Flow | -81.87B | -105.17B | -123.84B | -120.51B | -45.20B | -82.25B |
China Mobile Technical Analysis
China Mobile Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$9.29B | 10.14 | 8.67% | 7.46% | -0.62% | -5.10% | |
72 Outperform | $190.62B | 16.87 | 5.62% | 4.03% | 3.24% | 8.66% | |
72 Outperform | $89.02B | 17.27 | 14.75% | 2.86% | 2.33% | 2.41% | |
68 Neutral | HK$1.78T | 11.29 | 10.16% | 6.00% | 1.49% | 3.06% | |
67 Neutral | €621.41B | 13.05 | 7.66% | 5.40% | 0.53% | 5.28% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
49 Neutral | HK$42.66B | -150.55 | ― | 1.68% | 4.26% | 36.68% |
China Mobile Corporate Events
China Mobile has signed a series of one-year agreements with its ultimate controlling shareholder, China Mobile Communications Corporation (CMCC), effective 1 January 2026, to continue governing connected transactions for telecommunication facilities construction services, mutual leasing of power support and other network assets and resources, and reciprocal provision of telecommunications and information services. These arrangements, together with an existing 2025–2027 leasing agreement for machinery rooms and transmission pipelines, are classified as continuing connected transactions under Hong Kong Listing Rules, subject only to reporting, annual review and announcement requirements—without the need for independent shareholders’ approval—reflecting a structured and compliant framework for intra-group operational cooperation and asset sharing that supports China Mobile’s network operations while maintaining regulatory transparency.
The most recent analyst rating on (HK:0941) stock is a Hold with a HK$92.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile has announced a leadership transition, with long-serving executive director and chairman Yang Jie stepping down from both roles effective 22 December 2025 due to age, with the board noting there is no disagreement and formally expressing its appreciation for his contributions. The board has appointed Chen Zhongyue, currently chairman of the company’s ultimate controlling shareholder and a veteran of senior roles at China Telecom and China Unicom, as executive director and chairman on the same date; his contract has no fixed term, he is subject to normal rotation and re-election, has waived his director’s fee and is expected by the company to bring significant benefits through his extensive industry experience, underscoring continuity in governance and alignment with state-owned sector leadership practices.
The most recent analyst rating on (HK:0941) stock is a Hold with a HK$92.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited has announced the current composition of its board of directors, led by Chairman Chen Zhongyue and Chief Executive Officer He Biao, alongside executive director and CFO Li Ronghua and three independent non-executive directors. The company also detailed the membership of its four key board committees—Audit, Remuneration, Nomination and Sustainability—clarifying the leadership and participation of directors on each, a move that underscores its governance structure and may reassure investors about oversight, remuneration policy, board succession and the growing emphasis on sustainability matters.
The most recent analyst rating on (HK:0941) stock is a Hold with a HK$92.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited has announced the approval of new agreements with its controlling shareholder, CMCC, to continue their connected transactions for another year, until December 31, 2026. These agreements cover telecommunication facilities construction, power support, and information services, ensuring the continuation of their business operations under the Hong Kong Listing Rules. The announcement signifies the company’s ongoing commitment to maintaining its operational partnerships and compliance with regulatory standards.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$113.97 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited announced a change in leadership at its parent company, China Mobile Communications Group Co., Ltd., with Mr. Chen Zhongyue appointed as the new Chairman, replacing Mr. Yang Jie. This leadership transition may influence the company’s strategic direction and operations, though any changes to the board of directors will be announced separately.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$95.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited announced that Guangdong Mobile, a subsidiary, has converted SPD Bank A-Shares Convertible Bonds into approximately 29,256 SPD Bank A-Shares. This transaction, considered a discloseable transaction under Hong Kong Listing Rules, allows Guangdong Mobile to acquire shares at a market-comparable price, enhancing SPD Bank’s capital strength and enabling China Mobile to benefit from SPD Bank’s operational results. The conversion is part of a series of transactions within the last 12 months, reflecting China Mobile’s strategic investment in SPD Bank.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$110.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited announced that Guangdong Mobile, a subsidiary, has converted SPD Bank A-Shares Convertible Bonds into approximately 118,611,350 SPD Bank A-Shares. This transaction, valued at RMB1,483,828,000, increases China Mobile’s stake in SPD Bank from 17.88% to 18.18%. The conversion is part of a strategy to acquire shares at market-comparable prices, enhancing SPD Bank’s capital strength and allowing China Mobile to benefit from the bank’s performance. The transaction is classified as a discloseable transaction under Hong Kong Listing Rules, requiring notification and announcement.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$110.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited reported its unaudited financial results for the first three quarters of 2025, showing a slight increase in operating revenue to RMB794.7 billion, with telecommunications services revenue rising by 0.8% year-on-year. The company also saw a 4.0% increase in profit attributable to equity shareholders, reaching RMB115.4 billion. The number of mobile customers grew to 1,009 million, with 622 million being 5G network customers, highlighting the company’s continued expansion in the 5G sector. Additionally, wireline broadband customers increased to 329 million, reflecting growth in its broadband business.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$110.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited reported its customer statistics for the third quarter of 2025, highlighting a total of 1,008,874 mobile customers, with 3,996 net additions during the quarter. The company also noted a significant presence in the 5G network with 622,353 customers. In the wireline broadband segment, the company saw 328,766 total customers, with 5,537 net additions for the quarter. These statistics, while unaudited, indicate a steady growth in both mobile and broadband sectors, reinforcing China Mobile’s strong market position.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$110.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited announced that Guangdong Mobile, a subsidiary, has converted SPD Bank A-Shares Convertible Bonds into approximately 149.8 million SPD Bank A-Shares, increasing its stake in SPD Bank to about 18.15%. This conversion is part of a strategy to acquire shares at market-comparable prices, strengthen SPD Bank’s capital, and enhance the group’s ability to benefit from SPD Bank’s performance. The transaction is classified as a discloseable transaction under Hong Kong Listing Rules, requiring notification and announcement due to its size.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$110.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.
China Mobile Limited has announced that its subsidiary, Guangdong Mobile, has converted SPD Bank A-Shares Convertible Bonds into 450,156,195 SPD Bank A-Shares, worth approximately RMB5.63 billion. This transaction increases China Mobile’s stake in SPD Bank from 17.00% to 18.18% and is considered a discloseable transaction under Hong Kong Listing Rules. The conversion is expected to benefit both parties, allowing Guangdong Mobile to acquire shares at market price while helping SPD Bank strengthen its capital base. The converted shares are subject to a five-year holding period.
The most recent analyst rating on (HK:0941) stock is a Buy with a HK$110.00 price target. To see the full list of analyst forecasts on China Mobile stock, see the HK:0941 Stock Forecast page.