China Mobile Limited (HK:0941)
:0941
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China Mobile
(0941)
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Rating:73Outperform
Price Target:
HK$93.00
â–²(14.18% Upside)
Action:UpgradedDate:04/22/26
The score is driven primarily by solid financial resilience (low leverage and steady profitability) tempered by notable TTM revenue and margin deterioration plus weaker cash conversion. Valuation is supportive with a moderate P/E and strong dividend yield, while technicals are constructive but appear overbought, raising near-term pullback risk.
Positive Factors
Low Leverage / Balance Sheet
Very low leverage gives China Mobile durable financial flexibility to fund network capex, 5G and fiber rollouts, and shareholder distributions without stressing liquidity. This defensive balance sheet reduces refinancing risk and supports multi-year infrastructure investment strategies essential for telecom incumbents.
Negative Factors
Sharp Recent Revenue Drop
A large trailing-twelve-month revenue decline signals structural pressure on top-line drivers (consumer/enterprise demand, pricing or migration effects). Sustained revenue contraction reduces scale benefits, constrains reinvestment capacity, and can erode long-term margin and cash generation if not reversed.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Balance Sheet
Very low leverage gives China Mobile durable financial flexibility to fund network capex, 5G and fiber rollouts, and shareholder distributions without stressing liquidity. This defensive balance sheet reduces refinancing risk and supports multi-year infrastructure investment strategies essential for telecom incumbents.
Read all positive factors
China Mobile (0941) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.82T
Dividend Yield6%
Average Volume (3M)18.19M
Price to Earnings (P/E)12.9
Beta (1Y)0.30
Revenue Growth3.01%
EPS Growth-2.03%
CountryHK
Employees455,405
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)1.56
Shares Outstanding20,754,672,000
10 Day Avg. Volume16,962,815
30 Day Avg. Volume18,190,442
Financial Highlights & Ratios
PEG Ratio2.46
Price to Book (P/B)1.14
Price to Sales (P/S)1.48
P/FCF Ratio9.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$93.71Price Target Upside15.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)6.25
Revenue Forecast (FY)HK$1.06T
China Mobile Business Overview & Revenue Model
Company Description
China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. Its businesses primarily consist of mobile voice and data business, broadband, and other services. As of December 31, 2021, the company s...
How the Company Makes Money
China Mobile makes money mainly by charging for connectivity and related digital services across consumer and enterprise customers. Its core revenue stream is telecommunications service revenue from mobile customers, including recurring fees for d...
China Mobile Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
86
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 794.89B | 1.04T | 1.01T | 937.26B | 848.26B | 768.07B |
| Gross Profit | 224.50B | 301.77B | 284.70B | 260.16B | 244.07B | 394.15B |
| EBITDA | 270.69B | 293.88B | 346.48B | 336.88B | 313.23B | 260.67B |
| Net Income | 113.79B | 138.37B | 131.77B | 125.46B | 115.94B | 107.84B |
Balance Sheet | ||||||
| Total Assets | 2.18T | 2.07T | 1.99T | 1.90T | 1.84T | 1.73T |
| Cash, Cash Equivalents and Short-Term Investments | 346.55B | 395.47B | 363.92B | 331.79B | 499.87B | 488.44B |
| Total Debt | 101.98B | 88.44B | 102.93B | 112.66B | 56.98B | 66.63B |
| Total Liabilities | 724.00B | 711.59B | 646.67B | 634.12B | 631.03B | 575.11B |
| Stockholders Equity | 1.45T | 1.36T | 1.34T | 1.26T | 1.21T | 1.15T |
Cash Flow | ||||||
| Free Cash Flow | 99.25B | 159.76B | 122.52B | 91.16B | 107.45B | 117.31B |
| Operating Cash Flow | 210.06B | 315.74B | 303.78B | 280.75B | 314.76B | 307.76B |
| Investing Cash Flow | -87.56B | -185.19B | -205.70B | -238.05B | -238.30B | -188.11B |
| Financing Cash Flow | -92.41B | -105.17B | -123.84B | -120.51B | -45.20B | -82.25B |
China Mobile Technical Analysis
81.45
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0941, the sentiment is undefined. The current price of 81.45 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for HK:0941.
China Mobile Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.82T | 12.87 | 9.74% | 6.00% | 3.01% | -2.03% | |
70 Outperform | HK$10.40B | 9.94 | 8.45% | 7.46% | -0.06% | 1.10% | |
70 Outperform | HK$595.44B | 13.34 | 7.19% | 5.40% | 1.29% | -3.41% | |
67 Neutral | HK$195.09B | 16.02 | 4.16% | 4.03% | 2.73% | 8.45% | |
67 Neutral | HK$96.68B | 16.50 | 14.46% | 2.86% | 5.18% | 4.25% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
46 Neutral | HK$47.07B | 34.49 | -2.39% | 1.68% | 7.18% | 15.72% |
* Communication Services Sector Average
HK:0941
China Mobile
83.90
7.02
9.13%
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11.16
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HKT and HKT
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China Mobile Corporate Events
China Mobile Q1 2026 Profit Slips as Revenue Grows Modestly
Apr 20, 2026
China Mobile reported mixed unaudited results for the first quarter of 2026, with operating revenue edging up 1.0% year-on-year to RMB266.5 billion, supported by a 12.7% rise in other business revenue despite a 1.1% decline in principal business r...
China Mobile Adds Users Across Mobile, Broadband and IoT in Q1 2026
Apr 20, 2026
China Mobile reported that by the end of the first quarter of 2026 it had about 1.01 billion mobile customers, including 668 million 5G network users, alongside 333 million integrated broadband network customers and roughly 1.50 billion cellular I...
China Mobile Posts Modest 2025 Growth as Digital Services and Cash Flow Strengthen
Mar 26, 2026
China Mobile reported 2025 operating revenue of RMB1,050.2 billion, up 0.9% year-on-year, with revenue from principal businesses rising 0.7% to RMB895.5 billion and computing services up 11.1% to RMB89.8 billion. Communications services accounted ...
China Mobile Announces HK$2.52 Final Dividend for 2025 and Outlines Withholding Tax Rules
Mar 26, 2026
China Mobile has declared a final ordinary dividend of HK$2.52 per share for the financial year ended 31 December 2025, subject to shareholder approval on 21 May 2026. The dividend will be paid in Hong Kong dollars to shareholders on 24 June 2026,...
China Mobile Posts Q4 User Declines Despite Massive 5G and Broadband Bases
Mar 26, 2026
China Mobile reported that its total mobile customer base reached about 1.005 billion in the fourth quarter of 2025, with 5G network customers rising to roughly 642 million, underscoring the scale of its next‑generation mobile operations. Ho...
China Mobile Sets Timetable and Tax Terms for Proposed 2025 Final Dividend
Mar 26, 2026
China Mobile has proposed a final dividend of HK$2.52 per share for the 2025 financial year, subject to shareholder approval at its annual general meeting scheduled for 21 May 2026. The company has set specific register closure dates in May for de...
China Mobile Sets March 2026 Board Meeting to Approve 2025 Results and Final Dividend
Mar 16, 2026
China Mobile has scheduled a board meeting for 26 March 2026 at its Hong Kong registered office to review and approve the annual results for the financial year ended 31 December 2025. The board will also consider the payment of a final dividend, a...
China Mobile CEO He Biao Resigns Following Work Reassignment
Feb 12, 2026
China Mobile has announced that Chief Executive Officer and Executive Director He Biao has resigned from his roles, including his position on the Sustainability Committee, effective 12 February 2026 due to a work reassignment. The board emphasized...
China Mobile Sets Out Board Line-Up and Committee Structure
Feb 12, 2026
China Mobile has announced the current composition of its board of directors, led by chairman and executive director Chen Zhongyue, alongside executive directors Wang Limin and chief financial officer Li Ronghua. The board also includes four indep...
China Mobile Warns of Profit Impact as VAT Rises on Core Telecom Services
Feb 1, 2026
China Mobile has announced that, following a new directive from China’s Ministry of Finance and State Taxation Administration effective 1 January 2026, tax treatment for handset data traffic services, SMS and MMS services, and internet broad...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.