China Mobile (941) investor relations material

Executive summary

• Revenue for Q1 2026 reached RMB 266.5 billion, up 1.0% year-over-year, with stable overall business performance.

• Net profit attributable to shareholders was RMB 29.3 billion, down 4.2% year-over-year.

• EBITDA for the quarter was RMB 76.7 billion, a 5.0% decrease year-over-year.

• Mobile subscribers reached 1.009 billion, with a net increase of 3.76 million in Q1 2026; broadband subscribers reached 333 million, up by 3.9 million.

• The company maintained focus on core businesses: communication, computing, and intelligent services.

Financial highlights

• Operating income: RMB 266.5 billion, up 1.0% year-over-year.

• Net profit margin attributable to shareholders: 11.0%, down 0.6 percentage points year-over-year.

• Operating cash flow: RMB 71.4 billion, up 128.1% year-over-year.

• Revenue from other businesses rose 12.7% year-over-year to RMB 46.6 billion.

• Total assets increased to RMB 2,153.5 billion, up 2.9% from year-end 2025.

Outlook and guidance

• Plans to strengthen and expand core businesses, enhance quality and efficiency, and drive technological innovation.

• Aims for effective qualitative improvement and reasonable quantitative growth, targeting world-class technology service status.

• Focus remains on strengthening communications, computing, and AI services, with emphasis on quality, efficiency, and technological innovation.

• Aims to enhance core competitiveness and drive new productive forces for sustainable growth.