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China Mobile
(0941)
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Rating:70Outperform
Price Target:
HK$85.00
â–²(6.92% Upside)
Action:Reiterated
Date:10/23/26
The score is supported primarily by strong financial stability (notably low leverage) and appealing valuation (high dividend yield and moderate P/E). These positives are partially offset by weakening cash-flow trends and a bearish technical picture, with the stock below key moving averages and negative momentum.
Positive Factors
Conservative balance sheet
Very low leverage gives China Mobile substantial financial flexibility, reducing balance-sheet strain during weaker operating periods. Strong capitalization can support network investment, dividends, and strategic initiatives without relying heavily on additional borrowing or refinancing.
Negative Factors
Weak top-line growth
Flat or declining revenue limits operating leverage and makes future earnings growth more dependent on efficiency rather than expanding demand. Persistent top-line softness could constrain investment capacity and reduce the company’s ability to grow profit without further margin pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives China Mobile substantial financial flexibility, reducing balance-sheet strain during weaker operating periods. Strong capitalization can support network investment, dividends, and strategic initiatives without relying heavily on additional borrowing or refinancing.
Read all positive factors
China Mobile (0941) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.75T
Dividend Yield6.78%
Average Volume (3M)12.16M
Price to Earnings (P/E)11.5
Beta (1Y)0.39
Revenue Growth4.21%
EPS Growth-5.91%
CountryHK
Employees461,345
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)5.89
Shares Outstanding20,793,123,000
10 Day Avg. Volume16,910,477
30 Day Avg. Volume12,160,053
Financial Highlights & Ratios
PEG Ratio-2.84
Price to Book (P/B)1.11
Price to Sales (P/S)1.55
P/FCF Ratio20.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$93.81Price Target Upside18.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)6.09
Revenue Forecast (FY)HK$1.04T
China Mobile Business Overview & Revenue Model
Company Description
China Mobile Limited is a leading provider of comprehensive mobile telecommunications and associated services across Mainland China and Hong Kong. Its primary business areas encompass mobile voice and data services, broadband internet, and a broad...
China Mobile Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
88
Very Positive
Cash Flow
59
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.03T | 1.02T | 1.04T | 1.01T | 937.26B | 848.26B |
| Gross Profit | 216.79B | 230.68B | 301.77B | 284.70B | 260.16B | 244.07B |
| EBITDA | 371.77B | 362.78B | 335.26B | 346.48B | 335.37B | 313.23B |
| Net Income | 127.14B | 133.55B | 138.37B | 131.77B | 125.46B | 115.94B |
Balance Sheet | ||||||
| Total Assets | 2.15T | 2.13T | 2.07T | 1.99T | 1.90T | 1.84T |
| Cash, Cash Equivalents and Short-Term Investments | 335.06B | 311.89B | 395.47B | 363.92B | 331.79B | 499.87B |
| Total Debt | 98.52B | 91.49B | 88.44B | 102.93B | 112.66B | 56.98B |
| Total Liabilities | 712.99B | 695.63B | 711.59B | 646.67B | 634.12B | 631.03B |
| Stockholders Equity | 1.43T | 1.43T | 1.36T | 1.34T | 1.26T | 1.21T |
Cash Flow | ||||||
| Free Cash Flow | 113.90B | 75.97B | 159.76B | 122.52B | 91.16B | 107.45B |
| Operating Cash Flow | 256.11B | 232.92B | 315.74B | 303.78B | 280.75B | 314.76B |
| Investing Cash Flow | -139.32B | -190.40B | -185.19B | -205.70B | -238.05B | -238.30B |
| Financing Cash Flow | -115.06B | -112.14B | -105.17B | -123.84B | -120.51B | -45.20B |
China Mobile Technical Analysis
Neutral
79.50
Price Trends
79.20
Negative
78.47
Positive
77.31
Positive
Market Momentum
-0.35
Positive
46.25
Neutral
26.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0941, the sentiment is Neutral. The current price of 79.5 is above the 20-day moving average (MA) of 79.11, above the 50-day MA of 79.20, and above the 200-day MA of 77.31, indicating a neutral trend. The MACD of -0.35 indicates Positive momentum. The RSI at 46.25 is Neutral, neither overbought nor oversold. The STOCH value of 26.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$92.13B | 17.36 | 14.86% | 6.81% | 7.09% | 4.21% | |
74 Outperform | HK$156.54B | 9.62 | 6.68% | 6.62% | 3.86% | 24.32% | |
70 Outperform | HK$1.75T | 11.53 | 8.81% | 6.78% | 4.21% | -5.91% | |
68 Neutral | HK$8.75B | 9.46 | 8.37% | 7.61% | 0.18% | 0.65% | |
61 Neutral | HK$703.95B | 22.69 | 6.14% | 6.43% | 1.18% | -12.12% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | HK$38.79B | -459.63 | -40.50% | 7.63% | 7.10% | 70.22% |
* Communication Services Sector Average
HK:0941
China Mobile
80.00
0.20
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8.96
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-15.45%
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CITIC Telecom International Holdings
2.37
0.06
2.56%
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-0.65
-12.68%
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HKT and HKT
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HK:0008
PCCW Limited
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China Mobile Corporate Events
China Mobile Sees Profit Dip Despite Expanding User Base in First Three Quarters of 2026
Oct 20, 2026
China Mobile reported a modest contraction in its top and bottom lines for the first three quarters of 2026, with operating revenue falling 1.8% year-on-year to RMB780.3 billion and profit attributable to equity shareholders declining 7.9% to RMB1...
China Mobile Posts Steady Subscriber Growth but IoT Connections Decline in Q3 2026
Oct 20, 2026
China Mobile reported modest mobile subscriber growth in the third quarter of 2026, adding 3.0 million users to reach 1.014 billion mobile customers, with 5G network customers climbing to 702.3 million. Its integrated broadband network continued t...
China Mobile Sets 2026 Interim Dividend and Details Tax Treatment for Hong Kong Shareholders
Aug 13, 2026
China Mobile has declared an interim ordinary dividend of RMB 2.51 per share for the six months ended 30 June 2026, equivalent to HKD 2.9003 per share by reference to an exchange rate of RMB 1 to HKD 1.1555. Shareholders of its Hong Kong-listed sh...
China Mobile Grows Digital Services and Cash Flow Despite Revenue Dip
Aug 13, 2026
China Mobile reported interim 2026 operating revenue of RMB538.0 billion, down 1.1% year-on-year but growing on a comparable basis, with principal business revenue at RMB452.7 billion and other business revenue rising 11.2%. Computing and AI servi...
China Mobile Declares 2026 Interim Dividend and Details Tax Treatment for Hong Kong Shareholders
Aug 13, 2026
China Mobile has declared an interim ordinary dividend of RMB 2.51 per share for the six months ended 30 June 2026, payable in Hong Kong dollars by default at HKD 2.9003 per share, with an option for shareholders to elect payment in Renminbi. The ...
China Mobile Posts Q2 2026 User Growth Across Mobile, Broadband and IoT
Aug 13, 2026
China Mobile reported that its mobile customer base reached about 1.01 billion in the second quarter of 2026, with 2.1 million net additions in the quarter and 5.9 million cumulatively for the year, including 686.7 million 5G network customers. Th...
China Mobile Sets 2026 Interim Dividend Terms and Key Dates for Hong Kong Shareholders
Aug 13, 2026
China Mobile has declared an interim dividend of RMB2.51 per share for the first half of 2026, equivalent to HK$2.9003, payable in cash to holders of its Hong Kong-listed shares. Shareholders can choose to receive the payout in either Hong Kong do...
China Mobile Sets August Board Meeting to Approve Interim Results and Dividend
Aug 3, 2026
China Mobile’s board of directors will convene on 13 August 2026 in Hong Kong to review and approve the group’s interim results for the six months ended 30 June 2026. The board will also consider the declaration and payment of an inter...
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.