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| HSI1 | 23,093.37 | +158.69 | 249.78B |
| HSCEI1 | 7,756.25 | +67.06 | 87.14B |
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2026-10-21 11:09:51 Citi published a research report saying that CHINA MOBILE (00941.HK)'s 3Q operating revenue was RMB242.3 billion, down 3.4% YoY, 1.0% below the broker's expectation and 2.4% below market consensus. Net profit during the period was RMB27.3 billion, down 12.4% YoY, missing the broker's and market expectations by 3.2% and 5.9%, respectively. The broker noted that 3Q EBITDA was RMB73.9 billion, 1.3% and 3.7% below the broker's and market expectations, respectively, with an EBITDA margin of 30.5%. Although the numbers of mobile subscribers, 5G users and broadband customers maintained steady growth, weak telecommunications service revenue and persistent cost pressure continued to constrain margin expansion, resulting in overall results slightly missing expectations. As of 30 September 2026, mobile subscribers reached 1.014 billion, with net additions of 8.89 million in the first nine months, accelerating from net additions of 5.88 million in 1H26. Among them, 5G network customers reached 702 million, increasing from 687 million at the end of June. Total wireline broadband customers reached 342 million, with net additions of 13.05 million in the first nine months. IoT card connections totaled 1.497 billion, with net additions of 15.03 million in the first nine months, though growth slowed compared with 1H26 and total connections also edged down from the end of June. Citi maintained its Buy rating on CHINA MOBILE with an H-share TP of HKD97 and an A-share TP of RMB118 for CHINA MOBILE (600941.SH). (ad/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |