1

Forward-looking Statement
Certain statements contained in this document may be viewed as “forwardlooking statements” within the meaning of Section 27A of the U.S. Securities
Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of1934, as amended. Such forward-looking statements involve known andunknown risks, uncertainties and other factors, which may cause the actual
performance, financial condition or results of operations of China Mobile
Limited (the “Company”) to be materially different from those implied by suchforward-looking statements. In addition, we do not intend to update theseforward-looking statements. Further information regarding these risks,
uncertainties and other factors is included in the Company’s most recent
Annual Report on Form 20-F filed and other filings with the U.S. Securities andExchange Commission.

2

Agenda01

Overall Results

02

Operating Performance

03

Financial Performance3

01

Overall Results
Mr. YANG Jie
Executive Director & Chairman

4Key Messages

1

Devoted concerted efforts to addressing operating challenges andmaintained scale advantage

2

Sped up integrated development and achieved a notable
momentum shift amongst growth engines

3

Made targeted investments and further enhanced long-termsustainability

4

Proactively charted 5G development plans and established new“5G+” competitive advantages

5

Promoted further reforms and innovation and fully infused
entrepreneurial vitality into the company

6

Comprehensively
drovehigh-quality
development
continuously created value for shareholders

and5

Devoted Concerted Efforts to Addressing
Operating Challenges and Maintained Scale Advantage

Rapidly-diminishingdata traffic upside

Stiffening market
competition

Ongoing speed upgrade andtariff reduction measures

More resources devoted tobusiness transformation(RMB Mil)

1H2018

1H2019Changes

Operating revenue

391,832

389,427-0.6%

of which: service revenue

356,120

351,425-1.3%

EBITDA

145,886

151,147

3.6%*

EBITDA margin

37.2%

38.8%

1.6pp

EBITDA as % of service
revenue

41.0%

43.0%

2.0pp

Net profit

65,641

56,063-14.6%*Net profit margin

16.8%

14.4%

-2.4pp3.21

2.74-14.6%

Basic earnings per share(RMB)

Note: Unless otherwise specified,
1. Service revenue=operating revenue-revenue from sales of products and others; Revenue from sales of products and others mainly comprises sales of terminal
products such as handsets
2. EBITDA=profit from operations+ depreciation and amortisation; Net profit refers to profit attributable to equity shareholders of the Company
3. *Please refer to Appendix I for the impact of the new accounting standard on leases (IFRS/HKFRS 16), which has been applied by the Company starting 2019.
Should the former corresponding accounting standard (IAS/HKAS17) were applied to the results of the current period (meaning “an exclusion of the impact of
the new accounting standard on leases”), the YoY decreases in EBITDA and net profit would be 4.6% and 13.9% respectively

6

Sped up Integrated Development & Achieved a Notable
Momentum Shift amongst Growth Engines
Further-refined “four growth engines” structure

Convergence of products
Strengthened “data+ content+ customer benefits” packages
Rapid increase in the number of 2I2C customers
Penetration rate of Mobaihe 68.7%

Convergence of marketing and sales efforts
Business models to exploit synergy of 2H2C, 2B2C
2.6pp
Broadband-mobile bundling rate
Full business bundling rate
8.6pp

8.3%
x.x%

7.8%
10.7%
6.2%

12.5%
xx.x%

1H2018 75.3%

x.x%
7.6%

1H2019

71.6%
xx.x%

Convergence of operating practices
Promotion of “Mobile Cloud” and “Cloud+ Network+ DICT”
smart services
Mobile Cloud revenue
126.2%
Notable enhancements to internal cloud-based applications

Personal mobile market
Corporate market

DICT
Mobile connections

Wireline broadband
connections

IoT smart connections

935 mil

175 mil

693 mil

9.98 mil

18.20 mil

141.56 mil

Revenue
RMB 13.6 bil

Household market
Emerging business

47.3%

loT
Revenue
RMB 5.2 bil

43.8%
7

Made Targeted Investments and Further Enhanced
Long-term Sustainability
CAPEX

CAPEX structure

千(RMB Bil)

167.1

7.1% 1.2%

8.1% 0.7%

Not exceed
166.0

12.1%

14.6%

Including 5G
investments

1H2019 52.7%
26.4%

79.5

85.2

2018

2019E
1H CAPEX

Strengthening basic networks•••

Fostered
4G/5G
synergistic
development with robust support
catering for data traffic growth
Sped up cloud-enabled networktransformation with enhanced
cloud service capabilities
Accelerated SDN application as amove towards the build-out ofsmart transmission networks

Mobile communication networks
Transmission networks
Business networks and support systems•

Initiated centralised constructionof key nodes for CRM and BOSS,
providing centralised support
across the entire network
Built a smart management system,
constructed mid-end platforms
backed
by
big
data
and
strengthened data integration
across the board

47.6%

29.5%

Building smart mid-end platforms
•

2019E

47.6%

Buildings & infrastructure& power systems
OthersEnhancing service quality•••

Assuredpositivecustomerexperienceandsteadilyimproved network quality
Enhanced service system tocontinuously increase customer
satisfaction
Supported
closedloop
management of full service
workflow and digital business8

Proactively Charted 5G Development Plans andEstablished New “5G+” Competitive Advantages
Build >50 K 5G BTS and launch 5G commercial services in >50 cities in 2019

Standard

Devices• Promote maturity of R16

5G+4G

5G+AICDE• Various modes and bands: NSA/SA,

international standard• Coordinate industry efforts
to carry out research on
fundamental 5G technology

Synergetic
development

Integrated andjoint innovations

compatible with all networks, global
roaming• Various forms: applicable to personal,
household and industry sectors• Various notches: proliferated choices
for customers

Business model

Network• Integrate use cases into a plethora of• Develop

NSA and SA
networks concurrently withSA as the ultimate goal
• Make full use of 4G BTS
sites
and
transmission
resources to achieve lowcost and high-efficiency
network construction

5G+ECO

5G+X

Collaborative
ecology cultivation

Application
Extensions

industry sectors: 5G+ smart agriculture,industry, transport, city administration,
healthcare, finance, education• Serve the mass market : 5G+ Ultra HD
videos, games and ring videos, “sameSIM card, same number”• Provide differentiating services basedon a range of parameters anddimensions
9

Promoted Further Reforms and Innovation and
Fully Infused Entrepreneurial Vitality into the Company
Reforms on
Business Operations System
for the Corporate Market• Formed the corporate business unit based on
corporate business subsidiaries• Built an inclusive corporate business platform byComprehensive Cloud-BasedBusiness Transformation• Established a cloud centre at Suzhou R&D Centre• Played the triple roles of constructing cloudvertically integrating R&D, operations, businesssupport, sales and customer services functions• Turn the corporate business into a major forceof business transformation and upgrade, and a
new source of revenue growthfacilities, providing cloud services andintegratingcloud
ecology,establishingcompetitive advantages based on cloud-network
convergence• Strive to become a first-tier cloud service
provider in China in 3 years

Reforms on
Smart Family BusinessAccelerated
International Expansion• Established a smart household operations hub• Formed an international business unit at theat Hangzhou R&D centre• Integrated core capabilities, cultivated family
ecology and centralised operations• Increase value contribution from smart familybusiness

Headquarters• Strengthened coordination and management forinternational business expansion, established asystem enabling quick and smooth international
operations, provided centralised support acrossthe globe• Promote the rapid expansion of international
business
10

Continuously Created Favourable Returns for
Shareholders

Dividend per share
(HKD)

•

In accordance with the guidance provided
earlier this year, the dividend payout ratio for
the first half of 2019 was 49% , equivalent toan interim dividend of HK$ 1.527 per share•

The Company attaches great importance toshareholder returns, and will strive tomaintain a stable dividend per share for thefull year, after giving due consideration to its
performance in 2019

1.826
1.527
48%

1H201849%

1H2019Dividend payout ratio

11

Seek Progress on the Basis of Stable Performanceand Proactively Unleash Uplift Potential

Enormous potential：
Directing and creating demands

Pressing home our advantages :resources + capabilities
Customer base

RMB 13,100 bil

Network
coverage

5G

Capitalstrength

RMB 6,300 bil

Brand image
2018

Talent pool

2025E

Revenue of informatisation and software services industry in China

Spectrum resources

Industry position

Seek progress on the basis of stable performance
Captialise on enormous 5G opportunities
Unleash uplift potential
Develop new growth momentum

12Design New Operations Systems toComprehensively Drive High-Quality Development

Build a world-class corporation
Become a major force in building a cyberpower,a digital China and a smart society

High-quality development

Maintain a leading position in 5G
development

Achieve significant results inbusiness transformation andupgradeVitality

Collaboration

Reforms and innovation
Synergetic and efficient operations system

Capability

Digitisation

Integration

Convergence

Transformation and upgrade
Scale-based and value-oriented operations system

Obtain a significant boost tooperations capabilities
Propel an ongoing enhancement
to corporate value

Fully implement the 5G+plan, maintain a leading position
and facilitate economic and social development

Scale upconnection base
Personal mobile market

Strengthen
connection applications
Household market

Provide premium
connection services

Corporate market

Emerging business

13

02

Operating Performance
Mr. LI Yue
Executive Director & CEO

14

Revenue Structure of the “Four Growth Engines”(RMB Mil)

1H2019Change YoY

As % of revenue1

Service revenue

351,425

-1.3%

100%

1. Personal mobile market revenue

251,662

-6.2%

71.6%

of which: handset data traffic

194,685

-1.5%

55.4%

voice, SMS & MMS

50,404-20.6%

14.3%

2. Household market revenue

26,611

21.3%

7.6%

3. Corporate market revenue

44,058

15.7%

12.5%

of which: corporate voice,
SMS & MMS

14,1697.5%

4.0%

17,476

35.7%

5.0%

29,095

4.1%

8.3%

dedicated lines, IDC

4. Emerging business revenue
Note1 : Refers to percentage of service revenue

15Personal Mobile Market
Bolstered Customer Base and Service Offerings to Pave the Way for Future
Mobile customers

Handset data revenue(RMB Mil)

(Mil)

千

74.7
906

78.5
935

677

734

1H2018

1H20194G customers

Handset data tariff

197,592

4G VoLTE
customers

61.5%

194,685

-61%

-1.5%

ARPU
RMB 52.2
1H2018

1H20194G customers penetration rate(%)

Rebranding
Created a new suite of customer benefits under“GoTone” with a latest membership of 120 mil

Handset data DOU(GB)

4G DOUin June140.9%
6.2

Service enhancements
Proactively enhanced customer services to increasecustomer satisfaction

2.6

Product Bundling
Introduced various product bundling plans, poisedfor the launch of Mobile Number Portability

1H20188.0GB

1H201916

Household Market
Crafted a Premium Brand and Delivered Robust Growth Momentum
Household market revenue

Wireline broadband customers(Mil)(RMB Mil)

34.8≥100Mbps
175

26,611

千

21.3%

35.0

79.9%

135

21,937

34.8

35.0

128

162

Mobaihepenetration
rate

68.7%

1H2018

1H20191H2018

1H2019Household broadband customers
Household broadband blended ARPU1 (RMB)•••

Placed a steadfast focus on “enhancing network speed, quality and value”, built 1,000Mbps all-optical fibre
broadband networks and crafted a premium brand
Promoted new applications including audio-visual communications, intelligent vision and smart audio
products and strove to establish differentiating competitive advantages
Constructed a smart family ecosystem with strong promotions of digital household applications including
smart speakers, family surveillance and family clouds

Note1: Household broadband blended ARPU = (revenue of household broadband business + household revenue from emerging business) / average number ofhousehold broadband customers. Household revenue from emerging business mainly consists of revenues from Mobaihe and “and-Mu”;
Wireline broadband ARPU, which includes revenues from household broadband, corporate broadband and Internet dedicated lines, stood at RMB 32.9

17

Corporate Market
Developed Key Products and Propelled an Ongoing Increase in Market Share
Corporate market revenue

Corporate customers(Mil)(RMB Mil)

15.7%

44,05838,065

1H201818.1%

As % of service revenue

1.8 pp

1H20197.92

6.70

1H2018

1H2019

Revenue breakdown by industries(RMB Bil)
20.95
XX.X%

Dedicatedlines

Revenue
RMB 11.2 bil

IDC

Revenue
RMB 6.3 bil

20.4%

XX.X%

9.70

4.33
IT,
Internet

3.46

3.22

2.21 209.0%
2.09 135.0%
1.35 74.0%
0.74

Gov’t Commerce & Culture & Finance Industrial Transport Energy & Healthcare
manu- & logistics electricity
trading education
admin-facturing

Note: Industry-based revenue includes corporate emerging business revenue from theemerging market

75.2%
18

Emerging Business
Focused on Quality Experience and Fostered Business Scalability
Emerging business revenue

Personal emerging business(RMB Mil)

4.1%
29,09527,945MIGU Video Average monthly
active customers
Ring Video

Customer base“and-Home
Customer base
fixed service”
1H2018128%99%

1H2019Household emerging businessCorporate emerging business

Customer base 111 mil

40.4%
Mobaihe40%

Revenue RMB6.2 bil

59.7%

ICT revenue RMB 3.9 bil

149.8%

Delved into vertical sectors with 12 industry applications
generating respective annualised revenues of >RMB100 mil“and-Education” revenue ≈ RMB 2.0 bil
19Enhanced Quality and Services with
Plans for New Businesses Progressing Apace
Maintained a leading positionin network quality
•
•
•

•

4G BTS numbered 2.71 mil following a net addition of
300,000
Made ongoing quality improvements in VoLTE withcall duration lengthened by 72.1%
Added 13.4 Tbps transmission bandwidth tointernational and dedicated corporate lines
Reduced front-page loading latency of TOP500
websites to 0.7s

Drove enhancements tocustomer services•••

Designed an all-rounded service system involving fullservice workflow and all staff members
Formulated more vigorous service standards andstrengthened reviews on service quality, driving highquality development of services
Engineered service excellence campaigns and set up
10080 customer service monitoring hotline

Customer satisfaction
continuously increased

Customer complaints
remarkably reduced

Plans for New Businesses
Progressing Apace
RMB 34.7 bil

Promote Digital service revenue
digitalisation

9.6%
9.9%

As % of service revenue

New
media

loT

MobileInternet

Electronic
payment

Smart
hardware

Revenue from international business
Fosterinternational RMB 4.8 bil
29.0%
branch-out

NO.1

LTE roaming coverage

World

Number of global users
under the “Hand-in-hand”
program

2.9 bil

Digital service revenue= revenues from emerging business, IoT and smart
hardware20

Strive to Achieve 2019 Full-Year Targets
Seeking progress on the basis of stable performance
Achieving ongoing market leadership
Making continuous improvements

Personal mobile market: Obtain a net addition of 45 mil 4G customers and maintain

1 an industry-leading mobile ARPU

market: Obtain a net addition of 25 mil household broadband
2 Household
customers and a stable-to-rising household broadband blended ARPU

Corporate market: Obtain a corporate customer base of over 10 mil and a rapid

3 increase in corporate product revenue

4 Emerging business: Obtain a net addition of 300 mil IoT smart connections

21

03

Financial Performance
Mr. DONG Xin
Executive Director, Vice President & CFO

22

Financial Highlights(RMB Mil)

1H2018

1H2019Change YoY

Operating revenue

391,832

389,427-0.6%

356,120

351,425-1.3%

35,71238,002

6.4%

Operating expenses

322,147

329,672

2.3%

Profit from operations

69,68559,755-14.2%

Interest and other income

8,110

7,350

-9.4%

Income from investments
accounted for using the equity
method

5,747

6,579

14.5%

EBITDA

145,886

151,147

3.6%*

Net profit

65,641

56,063-14.6%*

Revenue fromtelecommunications services
Revenue from sales of
products and others

Note: *Excluding the impact of the new accounting standard on leases, EBITDA and net profit decreased by 4.6% and 13.9%, respectively, on acomparable basis year-on-year23Breakdown of Revenue Growth
Revenue from telecommunications services(RMB Mil)•356,120-4,3396,909

1H2018

Wirelessdata traffic

Wirelinebroadband

4,482

Applications
andinformation
services

1,607

SMS & MMS

-14,378

Voice

1,024

351,425

Others

1H2019

Revenue from telecommunications services decreased, mainly due to the negative growth of voiceservices revenue and wireless data traffic revenue

24

Maintaining Effective Cost Control(RMB Mil)

1H2018

1H2019 Change YoY

Operating expenses

322,147

329,672

2.3%

Network operationand support expenses

113,040

98,087-13.2%(-2.7%)*• Tower leasing fee on an original basis was RMB20.3• The efforts to satisfy business development,

76,201

91,392

19.9%(5.4%)*-

11,046-

Employee benefit and related
expenses

42,97545,075

4.9%

Selling expenses

32,84734,330

4.5%

Cost of products sold

36,35439,618

9.0%

Other operating expenses

20,73021,1702.1%

10,447

10,4550.1%

Depreciation and amortizationof which: depreciation of rightof-use assetsof which: interconnection

Major impacts

bil, up by 4.5%
enhance customer perception and improve network
quality have resulted in an expansion of assets scale• A new item resulting from the application of the
new accounting standard on leases• Enhanced incentives for core staff to boost thestrategic transformation of talents• Maintained marketing efforts to cope withcompetition• Increased sales of smart products, IoT and ICT
equipment

Note:
1. *The figures in brackets denote growth rates on a comparable basis after excluding the impact of the new accounting standard on leases
2. The Company has enhanced the operating expenses presentation. Please refer to Appendix II for details

25Promoted Low-cost and High-efficiency Operations by
Optimising Resource Allocation
Support••••
Squeeze••
Control•

Quality: network, products, services
Transformation: structural upgrade,
operational reforms
Innovation: 5G technologies, corecapabilities

Average maintenanceexpense per base station

11.8%

Controlled expenses on underperforming
and inefficient business units
Improved benchmarks unit costs

Strictly controlled expenses incurred by
non-production units such asadministrative offices and property
management
To eliminate outdated production capacity

Average electricity expenses
per frequency network

7.1%

Clearing underperforming and ineffective
physical retail outlets, transforming sales channel
Closed>500

Closed>1,200 franchised retail outlets

self-owned retail outlets

Average selling expenses per
customer

2.7%
26

Sustaining Healthy Cash Flow
EBITDAFree cash flow

(RMB Mil)(RMB Mil)千

3.6%
145,886

41.0%
37.2%

1H20185.5%

151,147
38,85940,980

43.0%
38.8%

1H2019

EBITDA margin
EBITDA / revenue fromtelecommunications services

1H2018

1H2019Note: The Company defines free cash flow as net cash
generated from operating activities less capital
expenditure incurred• Excluding the impact of the new accounting standard on leases, EBITDA and free cash flow
decreased by 4.6% and 18.8%, respectively

27

Maintaining Sound Capital Structure(RMB Mil)2018.12.31

2019.06.30

Shareholder’s equity

1,052,405

1,080,142——

Total book capitalization

1,052,405

1,080,142

Liabilities-to-assets ratio

31.3%

34.3%

Cash & bank deposits

361,567

327,588

Debt

S&P, Moody’s Corporate credit ratings are equivalent to China sovereign ratings

Note: The Company applied the IFRS/HKFRS 16 from its mandatory adoption date of 1 January 2019 and recognised right-of-use assets and lease liabilities. As aresult, the liabilities-to-assets ratio at the beginning of the year has increased by 3.5pp

28

《The Asset》“The Asset Platinum Award”

Thank you!
《Corporate Governance Asia》“Asia’s Icon on Corporate Governance”“Asia’s Best Investor Relations Company”

For more information, please contact:
Investor Relations Department: ir@chinamobilehk.com
Or visit the Company’s website: www.chinamobileltd.com
29

Impact of the New Accounting Standard on Leases (IFRS/HKFRS 16)– Appendix I
Balance Sheet••

The accounting treatment for lessors andfinance leases of lessees did not significantly
change under IFRS/HKFRS 16
The major accounting impacts for operatingleases of lessees indicated as follows:

Before(IAS/HKAS17)

Now(IFRS/HKFRS 16)

No recognition of assets andliabilities

Non-current assets
Right-of-use assets
Current liabilities
Lease liabilities
Non-current liabilities
Lease liabilities

Statement of Comprehensive Income
Before(IAS/HKAS17)

Now(IFRS/HKFRS 16)

Operating expenses

Operating expenses

Statement of Cash Flows
Before(IAS/HKAS17)

Now(IFRS/HKFRS 16)

Cash used in operating activities

Cash used in operating activities

Network operation andsupport expenses

Network operation andsupport expenses

Cash used in tower
leasing fee

Payment of charges for use of
tower assets

Tower leasing fee

Charges for use of
tower assets

Cash used inoperating lease charges

Payment of charges for use ofother assets

Operating leasecharges

Charges for use ofother assets
Depreciation and amortization
RMB11 bilCash used in financing activities

RMB9.4 bil

Payment of principal andinterest of lease liabilities

Depreciation ofright-of-use assets
RMB1.5 bil
Finance costs

30Adjustment on Operating Expenses Presentation– Appendix II•

In order to better reflect the cost structure, the Company has optimised the operating expenses
presentation, which had no impact on the operating revenue, operating expenses or net profit disclosed inprevious years. The comparative information has been reclassified, making it consistent with the current
period presentation.

Operating expenses (Before Adjustment), RMB Mil
1. Leased lines and network assets

1H201916,393

1.1 Charges for use of tower assets

12,433

1.2 Others

3,960

2. Interconnection

10,455

3. Depreciation

90,6504. Employee benefit and related expenses

45,075

5. Selling expenses

34,330

6. Cost of products sold

39,618

7. Other operating expenses

93,151

7.1 Maintenance

31,528Operating expenses (After Adjustment), RMB Mil

1H2019

1. Network operation and support expenses

98,087

Maintenance

7.1

31,528

Power and utilities expenses

7.4

20,935

Operation support and related expenses

7.5

19,981

Charges for use of tower assets

1.1

12,433Charges for use of lines and network assets

1.2

3,960

Charges for use of other assets

7.3

5,175

Others (Property management expenses,
vehicle operating expenses and others)

7.6

4,075

742

2. Depreciation and amortization

3+7.2

91,392

7.3 Operating lease charges

5,175

3. Employee benefit and related
expenses

4

45,075

7.4 Power and utilities expenses

20,935

4. Selling expenses

534,330

7.5 Operation support and related expenses

19,981

5. Cost of products sold6

39,618

7.2 Amortization of other intangible assets

6. Other operating expenses
7.6 Property management expenses, vehicle
operating expenses and others

4,075

7.7 Others

10,715

21,170Interconnection

2

10,455

Others7.7

10,71531

Extracts from Unaudited Consolidated Statement of Comprehensive
Income for the Six Months Ended 30 June 2019
– Appendix III(RMB Mil)

1H2018

1H2019(RMB Mil)

1H2018

1H2019Operating revenue

391,832

389,427

Profit from operations

69,68559,755

Revenue fromtelecommunications
services

356,120

351,425

Other gains

751

1,213

Voice services

62,914

48,536

Interest and other income

8,110

7,350

Data services

283,121291,780

Finance costs(74)(1,627)

Others

10,085

11,109

5,747

6,579

35,71238,002

Income from investments
accounted for using theequity method
Taxation(18,477)(17,151)

Profit for the period

65,742

56,119

Revenue from sales of
products and others

Operating expenses

322,147

329,672

113,040

98,087

76,201

91,392

42,97545,075

Selling expenses

32,84734,330Equity shareholders of theCompany

65,641

56,063

Cost of products sold

36,35439,618Non-controlling interests

101

56

Other operating expenses

20,73021,170

Profit for the period

65,742

56,119

Network operation andsupport expenses
Depreciation andamortization
Employee benefit andrelated expenses

Profit attributable to:32Extracts from Unaudited Consolidated Balance Sheetas at 30 June 2019
– Appendix IV(RMB Mil)2018.12.31

2019.06.30

535,116

558,612

Non-current assets

1,000,794

1,089,517

Total assets

1,535,910

1,648,129

474,398

501,761

5,703

62,766

Total liabilities

480,101

564,527

Total equity

1,055,809

1,083,602

Current assets

Current liabilities
Non-current liabilities

33

Operating Data
– Appendix V

Mobile serviceof which: 4G

Wireline broadband
serviceof which: Householdbroadband

Unit

1H2018

1H2019Customers

Mil

905.81935.05

Mobile service revenue

RMB Mil

310,163

289,049

ARPU

RMB

58.1

52.2

Handset data traffic

GB Bil

11.93

29.83

Handset data traffic DOU

GB

2.6

6.2

MOU

Minutes332

291

Customers

Mil

676.83733.78

ARPU

RMB

64.4

58.2

Handset data traffic DOU

GB

3.1

7.1

Customers

Mil

135.07174.89Wireline broadband service
revenue

RMB Mil

25,97532,884

ARPU

RMB

35.0

32.9

CustomersMil

128.21161.84

Blended ARPU

RMB

34.8

35.0

34