PRESS RELEASEFor Immediate Release

CHINA MOBILE 2024 INTERIM RESULTS
Significant enhancements to information services supply capability
Business operations and development maintain stable progress with an upward momentum
New milestones on journey to high-quality development
HighlightsAchieving new milestones in high-quality development
Further advancing strategic transformation with remarkable results
Accelerating the upgrade of the “Two New Elements”
Growing momentum of technological innovationEffectively unlocking benefits from enterprise reform and innovation
Persistently enhancing cash returns of shareholders

Accelerating the building of a world-class enterprise

Operating performance

Operating revenue (RMB million)
Of which: Revenue from telecommunications services(RMB million)
EBITDA (RMB million)*
Profit attributable to equity shareholders (RMB million)
Basic earnings per share (RMB)
Dividend per share- interim (HK$)
Total mobile customers (million)
Of which: 5G network customers (million)
Mobile ARPU (RMB)
Wireline broadband customers (million)
Of which: Household broadband customers (million)
Household customer blended ARPU (RMB)
Corporate customers (million)

1H 2023
530,719452,238

1H 2024
546,744463,589

Change3.0%
2.5%

183,457
76,173
3.56
2.43

182,270
80,201
3.75
2.60

-0.6%
5.3%
5.3%
7.0%

985
393
52.4
286
255
43.3
24.30

1,000
514
51.0
309
272
43.4
30.38

1.5%
30.8%
-2.7%
7.9%
6.8%
0.2%
25.0%

* EBITDA = profit from operations + depreciation and amortization(Hong Kong, 8 August 2024) – In the first half of 2024, China Mobile obtained operating revenue of
RMB546.7 billion, representing a growth of 3.0% year-on-year. Of this, our telecommunications services
revenue accounted for RMB463.6 billion, an increase of 2.5% year-on-year. Total connections surpassed
3.50 billion, with a net addition of 150 million. In the CHBN markets, HBN revenue accounted for 45.0% of
telecommunications services revenue, an increase of 2.3 percentage points year-on-year. Our digitaltransformation revenue, as the “second curve” of revenue growth, reached RMB147.1 billion, an increase of1

11.0% year-on-year. It accounted for 31.7% of telecommunications services revenue and represented anincrease of 2.4 percentage points year-on-year.
Profit attributable to equity shareholders was RMB80.2 billion, an increase of 5.3% year- on-year, andearnings per share were RMB3.75. EBITDA was RMB182.3 billion, and as a percentage oftelecommunications services revenue, was 39.3%. Annualized return on equity (ROE) increased by 0.3
percentage points year-on-year to 11.8%, and we maintained industry- leading profitability among top-tierglobal telecommunications operators. Capital expenditure totaled RMB64.0 billion. Free cash flow amounted
to RMB67.4 billion.
To create higher returns for our shareholders and share the results of our growth, after giving fullconsideration to the Company’s profitability, cash flow generation and future development needs, theCompany has decided to pay HK$2.60 per share for the 2024 interim dividend, representing an increase of
7.0% year-on-year. For the full year of 2024, profit to be distributed in cash as a percentage of the profit
attributable to equity shareholders of the Company will further increase from that of 2023. The Company
will continue to create more value for shareholders.
Mr. Yang Jie, Chairman of the Company commented, ‘In the first half of 2024, despite various challenges
faced by the Company with a complex external environment, we worked closely together and forged ahead
with determination as a strong team to seize the important opportunities brought by developing new quality
productive forces to the information services industry. We relentlessly pursued the “1-2-2-5” strategy,
collectively fostered the “Two New Elements” featuring smart digitalization infrastructure and smart infoservice spectrum, and robustly implemented the “BASIC6” and “AI+” initiatives. Thanks to these concerted
efforts, we have significantly strengthened our capability to supply information services. Our business
operations and development maintained stable progress with an upward momentum, and our efficiency andeffectiveness saw ongoing growth. We achieved significant digital-intelligent transformation, marking new
milestones on our journey to high-quality development. These results were truly hard-earned.’
Value-oriented Operations Continued to Progress“Customer” Market: Integrated Operations to Fortify Business Foundation
We continued to integrate data access, applications and customer benefits. 5G customers represented a
growing share of our overall customer base as a result of unleashing the synergies of CHBN markets,
together with our redoubled efforts to strengthen value retention of mid-to-high-end customers and deepen
the innovation of scenario-based operations. Our “Customer” market maintained stable, with revenue
reaching RMB255.2 billion in the first half of 2024. Mobile customers exceeded one billion, with a net
addition of 9.26 million customers. Of which, our 5G network customer base reached 514 million,
representing a net addition of 49 million and accounting for 51.4% of the overall customer base. Revenue
from personal China Mobile Cloud Drive increased by 47.7% year-on-year to RMB4.8 billion. The numberof customers for integrated-benefit products reached 315 million, with the corresponding revenue of
RMB14.0 billion, up by 37.2% year-on-year. The number of customers using our 5G New Calling over highdefinition video reached 129 million, of which, smart application subscribers amounted to 11.82 million. Our
M-zone Mango Card products recorded total sales volume of 21.55 million, demonstrating its popularity
among young customers. Mobile ARPU (average revenue per user per month) maintained a leading positionin the industry and amounted to RMB51.0.
“Home” Market: Extended Services with Greater Value
We pursued the development of a smart home ecosystem featuring full-gigabit network. With China Mobile
Aijia (AI Home) brand as the guiding force, we have strengthened the upgrade of our existing customers andthe integration of different operations, and actively created new growth drivers such as FTTR (Fiber to theRoom) and HDICT (home data, information and communications technology, collectively “home2informatization solutions”). As a result, our “Home” market generated favorable growth, with revenue forthe first half of 2024 reaching RMB69.8 billion, an increase of 7.5% year-on-year. The number of householdbroadband customers reached 272 million, or a net increase of 8.48 million customers, maintaining ourindustry leadership. Gigabit broadband customers accounted for 33.5% of our household broadband
customer base, an increase of 3.5 percentage points from the end of 2023. Mobile HD customers reached 208
million, with the corresponding revenue reaching RMB15.1 billion, up by 5.7% year-on-year. The numbersof smart home network and home security customers were 152 million and 58.64 million respectively. FTTR
customers surged by 296.4% year-on- year to 5.05 million, and HDICT solutions attracted 35.52 million
customers, an increase of 70.1% year-on-year. Household customer blended ARPU reached RMB43.4,
representing an increase of 0.2% year-on-year.
“Business” Market: Deep Cultivation of the Industry with Enhancements to Scale and Quality
We advanced the integrated development of our network, cloud and DICT (data, information andcommunications technology), built innovative “AI+DICT” service capabilities, proactively established an
operation system that is standardized and product-driven for effective management of platform-based
solutions, and tapped into high-value areas of our corporate customer base. In the first half of 2024, our“Business” market revenue maintained favorable growth and reached RMB112.0 billion, up by 7.3% yearon-year. Our corporate customer base reached 30.38 million, a net increase of 2.01 million. Our share ofcontracts won in open tenders amounted to an industry-leading 18.4%. We successfully developed“standardized, product-driven and platform-based” solutions that cater to 30 business segments, cultivating
58 core capabilities and expanding over 500 projects. China Mobile Cloud maintained its position as a toptier cloud services provider, and fully leveraged this advantage and competencies in the integration between
cloud on the one hand and network, data, intelligence, edge computing and security on the other. China
Mobile Cloud revenue reached RMB50.4 billion, an increase of 19.3% year-on-year. Within this, the revenue
market share of IaaS+ PaaS sat comfortably in the industry top five. We maintained leadership in 5G
applications for vertical industry sectors, signed an accumulative figure of more than 40,000 agreements for
5G commercial projects, and achieved remarkable scaled development across multiple sectors including
smart cities, smart factories, smart parks, and smart campuses, which helped generate 5G dedicated network
revenue of RMB3.9 billion, an increase of 53.7% year-on-year.
Our Internet of Vehicles (IoV) market in the “To V” market obtained breakthroughs in scale. The netincrease of IoV factory-installed connections reached 7.29 million, accumulating to 57.91 million. The usageof 5G+ Beidou high-precision positioning reached 1.7 trillion times. We enriched the “people-car-home”
service offering and entered channel partnerships with 10 top-tier car makers. We also participated in the“vehicle-road-cloud integration” pilots in cities. In the “To G” market, alongside a deepened market
expansion, we have accumulated digital government capabilities and released the Jiutian massive-computing
large model v3.0 for public administration. We have also deeply participated in the construction andoperation of multiple key digital cities at the provincial and municipal levels, delivering exemplary
benchmark projects. For the first half of 2024, accumulated contract value exceeded 12.6 billion, an increaseof 13.8% year-on-year. We tapped into the growth potential of the corporate market, making efforts to build
a “terminal, network, cloud, data” product system. We developed 15.80 million corporate packages targeting
specifically at SMEs, a net increase of 10.75 million. We actively explored new business opportunities byaccelerating deployment of the planning and competencies for the low-altitude economy, aviation Internet
and air- ground business.
“New” Market: Increased Contribution with Scaled Development
Thanks to larger business scale, higher effectiveness and better brand building, our “New” businesswitnessed rapid growth. Revenue from our “New” market reached RMB26.6 billion in the first half of 2024,
an increase of 13.2% year-on-year. In terms of international business, we deepened the synergies between
international and domestic markets. We increased the export of high-quality product capabilities and 5G
solutions to overseas markets to serve the construction of the “Belt and Road”, while upgrading our digital3infrastructure overseas and further strengthening our international ties. In the first half of 2024, ourinternational business revenue reached RMB11.8 billion, an increase of 16.3% year-on-year. In terms ofequity investment, we focused our strategy in areas such as strategic emerging industry clusters, future
strategic industries, and digital transformation of industries, amplifying the role of capital in connecting andempowering the industry value chain. In terms of digital content, we strengthened our “content, technology
and integrated innovation” operating model, refining core products such as MIGU Video while developing
core atomic-level capabilities for digital products including digital humans in the metaverse, XR+ naked eye
3D display and digital space. Digital content revenue reached RMB14.5 billion in the first half of 2024, or
growth of 11.3% year-on-year. The number of monthly active users for our cloud games across all platforms
reached an industry leading 123 million. In terms of FinTech, we took full advantage of the role of finance inempowering and promoting business growth throughout the industry value chain, achieving a business scaleof RMB37.9 billion in the first half of 2024, an increase of 72.1% year-on-year, and serving 55.5% moreenterprises. We created an all-in-one digital consumption portal across all platforms, driving growth inmonthly active customers of “and-Wallet” transactions by 15.8% year-on-year.
We placed customers at the heart of our business and spared no effort in developing new digital services forall scenarios across multiple modes and sectors, ensuring rapid and steady development of digitaltransformation. In the first half of 2024, the digitalization revenues from our “Customer”, “Home” and“Business” markets grew by 34.6%, 4.5% and 7.9% year-on-year respectively. Of which, DICT revenue
increased by 8.4% year-on-year to RMB65.2 billion. Meanwhile, “New” market digitalization revenue
increased by 9.7% year-on-year.
Accelerated the Advancement of the “Two New Elements”
Continued to optimize smart digitalization infrastructure
We accelerated the upgrade of the “Two New Elements”. We spent an overall CAPEX of RMB64 billion in
the first half of the 2024, and continuously optimised our smart digitalization infrastructure. We maintained
a leading position in “Dual Gigabit” Network. Accumulatively, there were over 2.29 million 5G basestations put into use. At present, we have promoted 5G-A commercial deployment in over 280 cities, withgigabit broadband covering 438 million households. We continued to lead the development of computility
network. General computility reached 8.2 EFLOPS and intelligent computility reached 19.6 EFLOPS. We
continued to optimise our “N+X” multi-layer and full-coverage deployment of intelligent computility
capability. The first batch of 13 intelligent computing center nodes in regions such as Beijing-Tianjin-Hebei,
Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, Chengdu-Chongqing have been put
into operation. We expanded the applications of the integration platform. The capabilities on our integration
platform were accumulatively deployed 319.7 billion times for the first half of 2024. We have also
implemented DSSN in 6 provinces and across 8 industries. We will continue to strengthen targeted
investment and meticulous management. Full-year CAPEX will be controlled within the RMB173 billion
guidance set at the beginning of the year, with CAPEX-to-revenue ratio decreasing to below 20%.
Continued to optimize smart info-service spectrum
Connection scale reached a record high. Total connections surpassed 3.5 billion, with a net addition of 150
million. The number of mobile customers exceeded 1.0 billion. Product expansion showed robust momentum.
In the mass market, 17 of our products each had a user base of over 100 million. In the “Business” market,
the revenue from 6 products each exceeded RMB10 billion. In the computility network business, we havedeveloped over 70 intelligent computility projects with an accumulative contract value surpassing RMB2.0
billion. In the big data business, we leveraged Wutong Big Data platform to accumulate more than 2,000PB
of data resources, achieving a total of 100 billion times of data deployment throughout the year. In the VisualInternet business, we have accumulated 70.3 million video-cloud connections. We maintained industryleading service quality. We continued to enjoy an ongoing advantage in customer perception, andsignificantly enhanced network quality and touchpoint service efficiency.
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Growing Momentum of Technological Innovation
Fruitful Results of the “BASIC6” Initiatives
We fully promoted the BASIC6 Initiatives and continuously achieved fruitful innovation results. We
remained to be a first-tier global operator in terms of 5G-A standard-setting contributions. We successfully
developed the “4-in-1” Brain of Computility Network, and the Yangtze River Delta Hub Wuhu Cluster
Computility Public Service Platform was launched as a national-level hub node for the first time. We
launched the Jiutian 100 billion-parameter multi-modal large model, and we were the first SOE to haveobtained “double filings” from the Chinese government (the Jiutian foundation large model was the first
SOE-developed model to have obtained “double filings” from the Chinese government for the provision ofgenerative AI services and domestic deep synthesis service algorithms). We achieved remarkable results intechnological innovation. The “5G Key Technologies and Engineering Applications” project that we led has
won the first-class award of the State Scientific and Technological Progress Award. China Mobile was also
named as the number one enterprise on the inaugural list of 2023 outstanding enterprises leading in scienceand technology innovation, released by the SASAC of the State Council.
“AI+” Initiatives Achieved Breakthroughs
We seized opportunities timely and firmly, implementing the “AI+” initiative and achieving breakthroughs.
We released the Jiutian artificial intelligence foundation comprising 10,000-card intelligent computing
clusters, 100 billion-parameter multi-modal large models, and an eco-platform that brings together hundredsof major elements. We accumulated 450 AI capabilities and empowered nearly 1,000 applications. We
expedited industrial and scaled development of large models, opening large model training bases, evaluation
bases, and industrial innovation bases to provide one-stop industry integration, and facilitating services suchas model training and inference, and AI+ native application incubation to society. We accelerated thecommercial monetisation of AI capabilities. We have launched 23 AI+ products and 20 AI+ DICT industry
applications. We have deployed high-performance industry-specific large models in 40 sub-sectors. In thefirst half of 2024, we have released 17 self-developed Jiutian industry-specific large models, implementing
the applications of large-scale models across multiple industries such as public administration, IoT-enabled
irrigation, and social general administration and governance.
Future outlook
The evolving external environment has introduced growing adverse impacts, while effective demand has
persistently remained inadequate. Our business transformation is clouded by the transitional phase between
old and new growth drivers, introducing an element of uncertainty. Meanwhile, the macroeconomic outlook
continues to improve. The development of new quality productive forces not only propels the pervasive
integration of next-generation information technology across the entirety of economic and social domains,
but also ushers in a new digital-intelligent era characterized by the deep integration of information andenergy at an accelerating pace. Data, computility and AI have become the new engine for technologicalinnovations. Information technology and its deep integration with the real and financial economies havegiven rise to emerging industries. “Internet+”, “5G+” and “AI+” have identified a new pathway for
information technology to be integrated into all aspects of the economy, society and everyday life, which will
profoundly revolutionize the way people work and live, as well as upending the model of social governance,
presenting unprecedented opportunities for the information and communications sector. Especially in recent
times, we have seen accelerated breakthroughs in the application of new generation information technologies
represented by AI, computility networks, big data and blockchain. Promoting economic and socialtransformation from “+AI” towards “AI+”, this phenomenon has empowered individuals, families,
communities and professionals, facilitated the integrated innovation of emerging technologies, further
deepened the integration of multi-domain intelligence applications, and opened up a vast blue-ocean ofopportunities.
5Mr. Yang Jie, Chairman of the Company commented, ‘Faced with the new business landscape andopportunities, we will fully, accurately and comprehensively align with the new development paradigm. We
will pursue stable progress while forging ahead with a steadfast focus on integrity and innovation. We will
enhance core functions, strengthen core competencies and fully implement the “1-2-2-5” strategy, further
deepening reforms to bolster our organic growth momentum, innovative vitality and development potential.
We will also strive to promote the “Two New Elements” with smart digitalization infrastructure and smart
info-service spectrum, while making all-out efforts on “AI+” and “BASIC6” initiatives. By doing so, we willdevelop new quality productive forces at an accelerated pace, promote digital-intelligent transformation andhigh-quality growth. As we establish ourselves as a world-class information services and sci-tech innovationenterprise, we will consistently create greater value for our shareholders and customers.’- End -Media enquiries:
China Mobile Limited
Investor Relations Department
Mr. Calvin Lam
Tel: 852 3121 8888
Email: calvinlam@chinamobilehk.com
Fax: 852 2511 9092

Disclaimer
This document does not constitute an offer or invitation to purchase or subscribe for any securities or financial
instruments of China Mobile Limited (the “Company”) or the rendering of any investment advice, and no part thereof
shall be relied upon or taken as the basis of any contract, commitment or investment decision relating to such securities
or financial instruments, and this document does not constitute a recommendation in respect of the securities orfinancial instruments of the Company. In addition, the forward-looking statements contained in this document relating
to the Company's future plans, development strategies and other matters do not constitute, and should not be construed
as, commitments by the Company. Investors are advised to pay attention to the investment risks.
Unless otherwise stated, the financial data contained in this document have been prepared in accordance with IFRS
Accounting Standards. For detailed financial statements of the Company prepared in accordance with these standards,
please refer to the Company's disclosure document published on the website of The Stock Exchange of Hong Kong
Limited.

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