1. Hong Kong Stocks

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    Communication Services

  3. •

    Telecommunications Services
China Mobile Limited

China Mobile Limited

0941.HK
China Mobile LimitedHK flagHong Kong Stock Exchange
78.60
HKD
+0.15
- -
1.63TMarket Cap
China Mobile Limited
0941.HK
(Hong Kong Stock Exchange)

Recent

price

78.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
24.19
26.8
28.96
31.84
32.1
32.7
34.6
36.17
35.99
36.43
37.51
41.43
43.91
47.22
48.55
- -
47.79
Revenue per Share
5.96
6.27
6.43
5.81
5.38
5.31
5.31
5.58
5.75
5.21
5.27
5.67
5.88
6.16
6.45
- -
6.33
Basic EPS, GAAP
11.41
11.19
11.3
11.17
10.56
11.35
12.21
2.5
0.54
2.08
5.73
5.25
4
5.73
7.45
- -
-8.28
Free Cash Flow per Basic Share
2.5
2.62
2.76
2.76
2.51
2.34
2.29
5.18
2.93
2.6
2.92
2.81
4.07
4.26
4.55
- -
4.41
Dividend per Share
16.38
18.78
20.82
22.85
44.02
44.14
45.83
19.64
64.35
66.74
69.01
71.86
56.31
57.64
59.08
- -
76.38
Book Value per Share
26.3
29.89
33.51
36.47
40.8
41.95
44.85
45.1
48.35
51.38
53.43
56.22
57.07
58.98
61.02
- -
60.57
Tangible Book Value per Share
20,063
20,068
20,091
20,101
20,293
20,438
20,475
20,475
20,475
20,475
20,475
20,475
21,347
21,376
21,438
- -
21,456
Basic Weighted Avg Shares
485,231
537,806
581,835
640,048
651,509
668,335
708,421
740,514
736,819
745,917
768,070
848,258
937,259
1,009,309
1,040,759
1,050,187
1,025,334
Sales/Revenue/Turnover
32.96
30.37
27.56
22.17
19.51
17.3
18.23
18.42
17.3
16.35
15.57
14.65
14.4
14.31
15.18
15.02
15.04
Operating Margin (%)
86,590
97,492
101,262
111,960
123,324
137,532
139,032
150,741
154,621
182,818
172,401
193,045
200,077
207,132
191,101
189,999
- -
Depreciation Expense
119,640
125,870
129,274
116,791
109,218
108,539
108,741
114,279
117,781
106,641
107,843
116,148
125,459
131,766
138,373
137,095
135,794
Net Income, GAAP
24.55
24.37
24.47
23.92
23.28
24.41
24.66
22.76
23.36
24.87
24.04
23.58
22.89
22.63
22.35
21.83
22.31
Effective Tax Rate (%)
24.66
23.4
22.22
18.25
16.76
16.24
15.35
15.43
15.99
14.3
14.04
13.69
13.39
13.06
13.3
13.05
13.24
Profit Margin (%)
66,202
109,441
148,797
96,276
34,433
-12,341
50,256
28,214
60,718
67,799
62,469
13,223
-76,966
-60,461
-64,459
-115,914
-20,072
Working Capital
28,615
28,617
28,619
4,989
4,992
4,995
- -
- -
- -
51,635
42,460
30,922
81,741
67,759
55,930
58,690
62,222
LT Debt
577,403
650,419
725,309
790,724
888,983
920,368
982,138
988,881
1,055,809
1,107,289
1,152,772
1,210,292
1,301,423
1,345,985
1,396,539
1,432,851
1,348,569
Total Equity
20.83
18.99
16.7
13.76
11.44
9.53
10.09
10.57
9.5
8.18
7.56
7.63
7.78
7.84
8.44
8.3
8.45
Return on Invested Capital (%)
33.01
32.76
30.26
25.67
16.01
12.01
11.72
16.91
13.64
7.88
7.5
7.82
8.91
10.11
10.42
10.06
9.08
Return on Capital (%)
36.41
35.69
32.51
26.61
16.15
12.09
11.82
17.05
13.7
7.95
7.76
8.05
9.39
10.83
11.08
10.66
9.46
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'23
Mar'24
Jun'24
ST Debt
35,175
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
67,759
66,013
62,222
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
21,391
21,389
21,443
Market Capitalization
1,261,986
1,325,601
1,537,641

Working Capital

FRC

•

in mil. unless spec.
Dec'23
Mar'24
Jun'24
Total Current Assets
498,104
557,972
534,183
Cash, Cash Equivalents & STI
363,923
376,126
345,734
Accounts Receivable, Net
54,881
87,070
84,342
Inventories
12,026
12,847
12,616
Total Current Liabilities
558,565
566,125
554,255
Payables & Accruals
- -
- -
- -
ST Debt
35,175
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.55%
4.46%
2.6%
Free Cash Flow
30.53%
-1.51%
-52.45%
Net Income, GAAP
2.48%
4.97%
-0.92%
Sales/Revenue/Turnover
4.69%
6.53%
0.91%
Total Cash Common Dividend
14.65%
13.04%
6.11%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
250,746
279,973
244,841
233,749
1,009,309
2024
263,707
283,037
- -
- -
1,040,759
2025
- -
- -
- -
- -
1,050,187

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
1.31
- -
- -
- -
6.16
2024
1.38
- -
- -
- -
6.45
2025
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
4.26
2024
- -
- -
- -
- -
4.55
2025
- -
- -
- -
- -
- -
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Business
China Mobile Limited is a leading telecommunications and information technology services provider, primarily operating in Mainland China and Hong Kong. Incorporated in 1997 and headquartered in Beijing, the company offers a comprehensive range of products and services including mobile voice services; mobile data, including 5G network services; wireline broadband; dedicated lines; internet data center (IDC) services; cloud computing; Internet of Things (IoT) solutions; computing network integration; and platform-based applications and solutions leveraging next-generation technologies such as artificial intelligence and big data. The company serves customer segments across consumer (Customer), residential (Home), business (Business), and new technology markets, while also providing international telecommunications services through its subsidiary China Mobile International Limited. In recent developments, China Mobile has aggressively expanded its 5G infrastructure, deploying over 2.4 million 5G base stations as of 2024 and extending gigabit broadband coverage to 480 million households. The company has implemented a strategic “1-2-2-5” transformation framework aimed at accelerating digital and intelligent business models and enhancing AI-driven product offerings. It has launched 24 AI+ products and 39 AI+ digital ICT applications, including the Lingxi AI Assistant, to deepen its AI integration across services. The company’s capital expenditure reached 164 billion yuan in 2024, reflecting significant investment in network upgrades and intelligent computing capabilities, with its intelligent computing power platform achieving 29.2 EFLOPS. It also emphasizes AI-powered smart terminals, intelligent connected vehicles, and robotics to build an AI-integrated ecosystem. Additionally, China Mobile has strengthened its digital transformation revenue streams and has optimized its channel and online service platforms to enhance customer engagement and operational efficiency. China Mobile commands the world's largest subscriber base with over 1 billion mobile customers and more than 320 million wireline broadband users as of mid-2025. Its extensive coverage spans all 31 provinces, autonomous regions, and municipalities across mainland China as well as Hong Kong. The company is recognized as the world's largest mobile network operator by subscriber numbers and a top global telecommunications firm by revenue. It remains state-controlled under China Mobile Communications Group Co., Ltd. and is publicly listed on the Hong Kong Stock Exchange (Ticker: 0941.HK) and Shanghai Stock Exchange. The company continues to solidify its leadership in telecommunications and ICT by advancing in digital transformation, AI technologies, and expanding its portfolio of connectivity, cloud, and intelligent services to meet evolving market demands.