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China Mobile
(0941)
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Rating:78Outperform
Price Target:
HK$94.00
â–²(18.24% Upside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by strong financial quality (high profitability and very low leverage), supported by attractive valuation (moderate P/E and high dividend yield). Technicals are moderately positive (price above key moving averages and positive MACD), while the main risk weighing on the score is the recent deterioration in revenue growth and volatility/weakening in free cash flow.
Positive Factors
Strong Profitability
Sustained EBITDA and net margins demonstrate durable earnings power in a mature telecom market. This profitability provides capacity to fund network investment, absorb competitive pressure and support shareholder returns over the medium term.
Negative Factors
Weakening Revenue Growth
The shift from earlier revenue growth to low or negative recent growth indicates a weaker top-line trajectory. Persistent stagnation could limit operating leverage and make future earnings increasingly dependent on cost control, mix improvement or enterprise-service expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
Sustained EBITDA and net margins demonstrate durable earnings power in a mature telecom market. This profitability provides capacity to fund network investment, absorb competitive pressure and support shareholder returns over the medium term.
Read all positive factors
China Mobile (0941) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.74T
Dividend Yield6.85%
Average Volume (3M)14.08M
Price to Earnings (P/E)11.2
Beta (1Y)0.33
Revenue Growth4.26%
EPS Growth-4.41%
CountryHK
Employees461,345
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)5.63
Shares Outstanding20,784,447,000
10 Day Avg. Volume13,312,741
30 Day Avg. Volume14,077,721
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$93.75Price Target Upside17.92% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)6.11
Revenue Forecast (FY)HK$1.03T
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...
How the Company Makes Money
China Mobile primarily makes money by selling telecommunications connectivity and related services under recurring service plans and usage-based charges. Its main revenue stream is telecommunications service revenue from individual customers, whic...
China Mobile Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
88
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04T | 1.02T | 1.04T | 1.01T | 937.26B | 848.26B |
| Gross Profit | 222.00B | 230.68B | 301.77B | 284.70B | 260.16B | 244.07B |
| EBITDA | 362.34B | 359.71B | 293.88B | 346.48B | 336.88B | 313.23B |
| Net Income | 130.99B | 133.55B | 138.37B | 131.77B | 125.46B | 115.94B |
Balance Sheet | ||||||
| Total Assets | 2.16T | 2.13T | 2.07T | 1.99T | 1.90T | 1.84T |
| Cash, Cash Equivalents and Short-Term Investments | 331.68B | 311.89B | 395.47B | 363.92B | 331.79B | 499.87B |
| Total Debt | 98.81B | 91.49B | 88.44B | 102.93B | 112.66B | 56.98B |
| Total Liabilities | 695.42B | 695.63B | 711.59B | 646.67B | 634.12B | 631.03B |
| Stockholders Equity | 1.46T | 1.43T | 1.36T | 1.34T | 1.26T | 1.21T |
Cash Flow | ||||||
| Free Cash Flow | 125.62B | 75.97B | 159.76B | 122.52B | 91.16B | 107.45B |
| Operating Cash Flow | 272.40B | 232.92B | 315.74B | 303.78B | 280.75B | 314.76B |
| Investing Cash Flow | -132.40B | -190.40B | -185.19B | -205.70B | -238.05B | -238.30B |
| Financing Cash Flow | -131.17B | -112.14B | -105.17B | -123.84B | -120.51B | -45.20B |
China Mobile Technical Analysis
Positive
79.50
Price Trends
77.85
Positive
78.37
Positive
77.55
Positive
Market Momentum
0.33
Positive
52.21
Neutral
8.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0941, the sentiment is Positive. The current price of 79.5 is above the 20-day moving average (MA) of 79.43, above the 50-day MA of 77.85, and above the 200-day MA of 77.55, indicating a neutral trend. The MACD of 0.33 indicates Positive momentum. The RSI at 52.21 is Neutral, neither overbought nor oversold. The STOCH value of 8.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$1.74T | 11.24 | 9.13% | 6.85% | 4.26% | -4.41% | |
78 Outperform | HK$93.42B | 17.60 | 14.86% | 6.68% | 7.09% | 4.21% | |
74 Outperform | HK$158.38B | 10.07 | 6.51% | 6.48% | 3.86% | 24.32% | |
70 Outperform | HK$643.29B | 19.84 | 6.40% | 6.32% | 0.29% | -9.25% | |
68 Neutral | HK$8.88B | 9.60 | 8.37% | 7.53% | 0.18% | 0.65% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
52 Neutral | HK$41.31B | -489.45 | -6.77% | 7.19% | 7.10% | 70.22% |
* Communication Services Sector Average
HK:0941
China Mobile
79.10
-1.03
-1.28%
HK:0788
China Tower
9.15
-1.50
-14.07%
HK:1883
CITIC Telecom International Holdings
2.39
0.08
3.64%
HK:0728
China Telecom
4.58
-0.83
-15.39%
HK:6823
HKT and HKT
12.39
1.55
14.33%
HK:0008
PCCW Limited
5.32
0.42
8.59%
China Mobile Corporate Events
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...
China Mobile Executive Director Resigns Following Work Reassignment
Jun 24, 2026
China Mobile Limited announced that Executive Director Wang Limin has resigned from the Board effective 24 June 2026 due to a work reassignment. The company emphasized that Wang has no disagreement with the Board and that there are no issues relat...
China Mobile Sets Out Board and Committee Line-Up to Bolster Governance
Jun 24, 2026
China Mobile Limited has outlined the composition of its board of directors, naming Chen Zhongyue as chairman, Chen Yangfan as chief executive officer and Li Ronghua as chief financial officer, alongside four independent non-executive directors. T...
China Mobile Names Chen Yangfan as New CEO and Executive Director
Jun 16, 2026
China Mobile has appointed Chen Yangfan as executive director, chief executive officer and a member of its Sustainability Committee, effective 16 June 2026, marking a significant leadership change at one of the world’s largest telecom operat...
China Mobile Sets Out Updated Board and Committee Line-Up
Jun 16, 2026
China Mobile Limited has updated its board composition, confirming Chairman Chen Zhongyue and Chief Executive Officer Chen Yangfan among its executive directors, alongside Chief Financial Officer Li Ronghua and Wang Limin, and four independent non...
China Mobile Investors Back Dividend, Board Mandates at 2026 AGM
May 21, 2026
China Mobile shareholders have overwhelmingly approved all resolutions at the company’s annual general meeting held in Hong Kong on 21 May 2026, endorsing the 2025 annual reports, the audited financial statements and the proposed final divid...
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.