CHINA MOBILE reported its full-year 2025 results, with operating revenue reaching RMB 1,050.2 billion, up 0.9% year-on-year. Profit attributable to shareholders was RMB 137.1 billion, down 0.9% from the previous year but increasing 2.0% on a comparable basis.
The final dividend for the year ended December 31, 2025, was HK$2.52 per share. Combined with the interim dividend already distributed, the total dividend for 2025 amounted to HK$5.27 per share, an increase of 3.5% year-on-year, with a dividend payout ratio of 75%.
In response to questions, CHINA MOBILE's Executive Director and Chairman Chen Zhongyue stated that the most significant variable in the information and communications industry currently is artificial intelligence. In 2025, revenue from the company's two emerging business segments—computing power services and intelligent services—each accounted for more than 10% of total revenue, collectively reaching 20.2%, becoming new growth engines for the company.
Chen Zhongyue emphasized that the most critical production factor of AI in the telecommunications industry is token usage. The company is about to enter a new phase of rapid growth in both token consumption and BAT traffic, which will serve as the foundation for future performance growth and the focus of resource allocation and investment planning.
According to the annual report, the company's capital expenditure target for 2026 is RMB 136.6 billion, a decrease of 9.5% compared to the previous year. However, investments in computing power and intelligent networks are projected to rise by 62.4% and 19.8%, respectively.
CHINA MOBILE Vice President Li Huidi noted that, adhering to a long-term perspective, the company has significantly shifted its investment structure toward computing power and intelligent networks, with combined investment in these areas expected to exceed 37%.
In terms of specific investment directions, the company will prioritize strategic spending on AIDC intelligent computing centers, advance the evolution of networks toward higher intelligence, and further integrate technologies such as AI and digital twins with communication networks.
From a long-term standpoint, the company plans to invest in future industries such as 6G, satellite internet, and quantum technology, aiming to build a next-generation information infrastructure characterized by the integration of communication, sensing, computing, and intelligence, as well as the convergence of space, air, ground, and sea networks.
Regarding overseas markets, Chen Zhongyue mentioned that the company's international business revenue grew by 28.5% year-on-year last year. Even excluding the impact of acquisitions such as Hong Kong Broadband Network, it still achieved double-digit growth, demonstrating significant results from its global expansion strategy.
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