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<Research>UBS: CHINA MOBILE (00941.HK) Rated at Neutral as Quarterly Results in Line
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CHINA MOBILE (00941.HK)'s 1Q26 service revenue was RMB219.9 billion, down 1.1% YoY, UBS issued a research report saying. EBITDA fell 5% YoY to RMB76.7 billion, while net profit declined 4.2% YoY to RMB29.3 billion, broadly in line with UBS' expectations, mainly affected by VAT adjustment, partly offset by improvements in operating efficiency.

UBS expected a neutral investor reaction, and believed that 1Q26 results were in line with expectations and followed management's full-year guidance, while the impact of the VAT adjustment has been fully recognized by investors.

Related News G Sachs Raises CHINA MOBILE (00941.HK) TP to HKD94, Rating Neutral
Therefore, the broker rated CHINA MOBILE at Neutral, with a target price of $81.
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