--- type: "Topics" locale: "zh-CN" url: "https://longbridge.com/zh-CN/topics/29061267.md" description: "$China Mobile(600941.SH) Quick Interpretation: The financial report remains solid. The company's revenue this quarter was flat year-on-year, while the growth in profit was mainly driven by the improvement in gross margin and the decline in expense ratio. The company's current number of users has exceeded 1 billion, of which 5G users reached 578 million.The personal market is the company's foundation, contributing more than half of the total revenue. Affected by the decline in average revenue per user, Dolphin Research estimates that the company's personal communication business revenue fell 1% year-on-year this quarter. The flat overall revenue was mainly driven by the growth of communication businesses in the family and enterprise markets.While the performance remains solid, the market's focus on the company is mainly on capital expenditures and dividend repurchases. The company's capital expenditures this quarter were approximately 36.4 billion yuan, up 5.5% year-on-year. Based on the full-year guidance, the company expects capital expenditures of 151.2 billion yuan in 2025, down 7.8% year-on-year. Although capital expenditures increased in the first quarter, the full-year trend is still contraction, which will help reduce pressure on the expense side and improve profit performance. As for dividends, the company usually conducts them in the second and third quarters, and Dolphin Research believes the company will maintain a high dividend payout ratio.Although there are minor flaws in this quarter's performance, the overall situation remains solid. With the contraction in capital expenditures, profits are expected to continue to improve. In the current unstable market environment, with "steady" profits and a high dividend payout ratio, China Mobile will be one of the choices under the dividend logic." datetime: "2025-04-22T11:46:15.000Z" locales: - [en](https://longbridge.com/en/topics/29061267.md) - [zh-CN](https://longbridge.com/zh-CN/topics/29061267.md) - [zh-HK](https://longbridge.com/zh-HK/topics/29061267.md) author: "[Dolphin Research](https://longbridge.com/zh-CN/news/dolphin.md)" --- > 支持的语言: [English](https://longbridge.com/en/topics/29061267.md) | [繁體中文](https://longbridge.com/zh-HK/topics/29061267.md) # $China Mobile(600941.SH) Quick Interpretation: The… ### 相关股票 - [CHINA MOBILE-R (80941.HK)](https://longbridge.com/zh-CN/quote/80941.HK.md) - [China Mobile (600941.CN)](https://longbridge.com/zh-CN/quote/600941.CN.md) - [CHINA MOBILE (00941.HK)](https://longbridge.com/zh-CN/quote/00941.HK.md) ## 评论 (11) - **练习投资二年半 · 2025-04-25T07:42:54.000Z**: China Mobile's plan was quietly upgraded from 29 to 229, speechless😅 - **练习投资二年半** (2025-04-25T07:44:40.000Z): Bandwidth suspension requires in-person appointment at offline service centers, can't be done via app... - **强者恒强 · 2025-04-22T13:35:34.000Z**: Shanghai Mobile is really awesome, the 39 yuan data card even comes with broadband, what a great deal. - **Dolphin Research** (2025-04-22T14:35:23.000Z): Got this? This is really a good deal. - **Billy.C** (2025-04-22T14:48:11.000Z): Why do I need 59 to make it work? - **山顶资本＾ · 2025-04-22T13:22:13.000Z**: Ditch the basic business. Can we trust any of the performance data from other businesses? - **飞飞哥 · 2025-04-22T12:08:35.000Z · 👍 2**: Bragging! The WiFi at home is so laggy it disconnects at every step. Later they asked me to pay for upgrading to fiber optics, and after the upgrade it's still laggy within a year, though at least it doesn't disconnect anymore. I'd like to switch to another provider, but in China, you only have Chin - **Kapi** (2025-04-22T12:10:51.000Z): What about China Tietong and China Telecom🤔 - **强者恒强** (2025-04-22T13:36:19.000Z): Who still doesn't have fiber optics these days? - **飞飞哥** (2025-04-22T13:36:55.000Z): I don't know, it was free with phone binding before.