China Mobile (600941.SH): Adjustment to VAT Scope for Telecom Services to Impact Company Revenue and Profit

Stock News02-01 17:00

China Mobile Limited (600941.SH) has announced that the Ministry of Finance and the State Taxation Administration of China recently issued an announcement concerning the specific scope of value-added tax (VAT) collection. The announcement stipulates that, effective January 1, 2026, within China, the VAT category for business activities involving mobile data services, SMS and MMS services, and internet broadband access services provided via fixed-line, mobile, satellite, or internet networks will be reclassified from value-added telecommunications services to basic telecommunications services. Consequently, the applicable VAT rate will be adjusted from 6% to 9%. This adjustment to the tax scope is expected to have an impact on the company's revenue and profit. The company stated it will remain committed to its core responsibilities and main businesses, striving to strengthen, optimize, and expand its communication services, computing power services, and intelligent services. It will persist in building a strong network foundation, promoting full-stack innovation, deepening lean management and quality-efficiency improvements, and accelerating the construction of a world-class technology services enterprise.

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