Focus Events - The International Monetary Fund (IMF) has revised the global economic growth forecast for 2025 down to 2.8% from an earlier estimate of 3.3%, primarily due to the abrupt changes in U.S. tariff policies and the resulting high policy uncertainty [1] - The Shanghai Stock Exchange held a special training session on market value management for nearly 50 state-owned enterprises, focusing on guidelines from the China Securities Regulatory Commission [1] Macro News - The State Administration of Foreign Exchange emphasized the need to correct market pro-cyclical behaviors to prevent excessive exchange rate fluctuations, highlighting the recent volatility in the international financial market due to U.S. unilateralism and protectionism [2] Industry Dynamics - In the first quarter, China's equipment manufacturing industry saw a year-on-year increase in added value of 10.9%, contributing 3.5 percentage points to overall industrial production growth, with nearly 70% of key products experiencing production growth [3] - High-tech manufacturing added value grew by 9.7% year-on-year, with significant growth in sectors such as fiber optics, aerospace equipment, and integrated circuit manufacturing, all exceeding 20% [4] - A medium-sized gold mine was discovered in Hami, Xinjiang, with proven reserves of 5.8 tons, meeting the criteria for a medium-sized mine [5] Company Focus - BYD announced a profit distribution plan for 2024, proposing a cash dividend of RMB 39.74 per 10 shares and a stock bonus of 8 shares plus a capital reserve conversion of 12 shares for every 10 shares held, totaling approximately RMB 120.77 billion in cash dividends [10] - Huawei launched the industry's first all-liquid-cooled megawatt-level supercharger, which can output 2400A continuously and charge approximately 20 kWh in one minute [7] - China Mobile reported a 3.5% year-on-year increase in net profit for the first quarter, with total revenue of RMB 263.8 billion, remaining stable compared to the previous year [19] - ZTE Corporation's net profit for the first quarter decreased by 11% year-on-year, with revenue of RMB 32.968 billion, reflecting a 7.82% increase [20] - Pop Mart announced a revenue growth of 165% to 170% year-on-year for the first quarter, with domestic revenue increasing by 95% to 100% and overseas revenue soaring by 475% to 480% [21] - Xinlei Co. reported a staggering 3015% year-on-year increase in net profit for the first quarter, attributed to the recognition of relocation gains [23] - Zhonghong Medical's first-quarter net profit surged by 1370% year-on-year, with revenue of RMB 629 million, marking a 15.45% increase [24]

近日，江苏移动、中国移动集团网络事业部、中国移动研究院联合亨通光电、华为在苏州完成了广域精简5G LAN组网的商用落地，这是该技术首次实现 与广域工业应用的结合。 亨通光电是国内工业智能制造企业，专注于光纤通讯、超高压/特高压电力传输等产品的研发与制造。公司总部位于江苏，并在广东、四川等地设有多家 分厂。随着业务的拓展，总部与各分厂之间的ERP、MES等关键业务系统存在广泛的跨地域互联需求。特别是在工业智能制造场景中，企业总部与多厂区 的高效协同依赖关键业务流的无缝支撑——全域生产联动，各厂区MES系统实时汇聚生产数据（如工单进度、设备状态）至总部ERP，支撑动态排产与资 源全局调度；远程精准运维，运维人员需通过广域互联直连厂区设备（如PLC、工业交换机），实现日志抓取、故障远程修复；设备统一管控，总部基于 唯一标识（如MAC地址）对海量设备批量推送固件升级，保障版本精准追溯。 广域精简5G LAN不仅为工业"柔性制造"注入了新的发展动能，还能够满足车联、低空、SOHO办公、金融、能源、零售连锁等行业广泛的跨域互联需 求。 传统跨域方案依赖IP三层组网，面临多重掣肘。一是需通过VXLAN/GRE等隧道或DNA ...

1.经营数据：收入基本持平，利润稳步提升 。 中国移动2025年第一季度总营收为2638亿元，同比基本持平。 公司本季度通讯业务的增长，与产品销售等业务的下 滑基本相抵消。 中国移动2025年第一季度净利润为306亿元，同比增长3.4%。 在收入不增的情况下，利润端的增长来自于毛利率的提升和费用端的回落； 中国移动（600941.SH/00941.HK）于北京时间 2025年4月22日晚的港股盘后发布了2025年第一季度财报（截止2025年3月），要点如下： 2.核心业务表现：个人通讯业务有所回落 。本季度通讯业务的增长，主要是受家庭和政企通讯业务的带动。而公司最大的个人通讯业务，本季度是略有下滑的。 具体来看， 移动用户数同比增长0.8%；而移动用户的单月资费为46.9元，同比下滑2.1% ； 3.资本开支：虽有增加，但全年目标是收缩的。 中国移动2025年第一季度的资本开支大约为364亿元，同比增长5.5%。 但结合公司全年目标看，公司预期2025年资 本开支为1512亿元，同比下滑7.8%，公司后面三个季度将对资本开支继续缩减。 | | | | | | China Mobile (600941.SH/0 ...

Core Insights - SenseTime (00020.HK) has signed a memorandum of cooperation with China Mobile Hong Kong to deepen their strategic partnership, focusing on AI and communication technology to enhance customer experience and industry service levels, aiming to promote Hong Kong as an international innovation and technology center [1] Group 1: Partnership Details - The collaboration will leverage both companies' strengths in AI and communication technology to develop emerging applications and meet potential demands [1] - They will jointly launch AI + intelligent video analysis industry solutions, creating customized AI video analysis systems for real-time behavior recognition and multi-scenario intelligent monitoring [1][3] - The partnership will initiate a vertical industry large model training program, enhancing the integration of AI and communication technologies [1][2] Group 2: Strategic Goals - The cooperation signifies a new phase in the integration of AI and communication applications, with a focus on accelerating the development of smart cities and the digital economy in Hong Kong [1][3] - China Mobile Hong Kong aims to be a provider of AI infrastructure, application aggregator, algorithm driver, and builder of smart ecosystems, focusing on AI + intelligent video analysis and vertical industry large models [3] Group 3: Technological Advancements - SenseTime has upgraded its SenseCore 2.0, promoting efficient implementation and large-scale application of large model technology with a focus on open-source solutions [4] - The company has introduced four industry solutions aimed at supporting full-process AI services and empowering various industries for intelligent upgrades [4]

智通财经4月22日讯（编辑 冯轶）智通财经为您带来今日港股重要公告 1）业绩速递 中国移动(00941.HK)：一季度营运收入为2638亿元，同比增长0.02%；净利润306亿元，同比增长3.45%。 中广核矿业(01164.HK)：第一季度旗下投资的矿山共生产天然铀659.1tU，本季度计划完成率110.7%。 中兴通讯(00763.HK)：一季度营业收入329.68亿元，同比增加7.82%；净利润24.53亿元，同比减少10.5%。 津上机床中国(01651.HK)：发布盈喜，预期年度股东应占溢利约7.82亿元 同比增加约60%。 浙江世宝(01057.HK)：一季度营业收入7.18亿元，同比增加45.47%：净利润4873.5万元，同比增加123.77%。 重庆钢铁股份(01053.HK)：一季度营业收入66.14亿元，同比减少14.51%；净亏损1.17亿元，同比收窄64.82%。 2）公司要闻 泡泡玛特(09992.HK)：一季度整体收入同比增长 165%-170%，其中中国收益同比增长95%-100%，海外收益同比增长475%- 480%。其中，亚太同比增长 345%-350%；美洲同比增长895 ...

4月22日，中国移动香港有限公司与商汤集团有限公司在香港签署合作备忘录。(中国移动香港有限公司 供图) 根据合作备忘录，中国移动香港与商汤科技将联合推出AI+智能视频分析行业解决方案，开发行业定制 化AI视频分析系统，实现即时行为识别与多场景智能监测。双方也将启动垂直行业大模型训练计划， 联合优化AI算法，整合产业伙伴的领域专业数据，打造符合行业合规要求的预训练模型，并支持私有 化部署的轻量化模型方案。 中新网香港4月22日电 (记者 戴小橦)中国移动香港有限公司(简称"中国移动香港")与商汤集团有限公司 (简称"商汤科技")22日签署合作备忘录。双方表示，将发挥在人工智能(AI)与通信科技领域的核心优 势，助力推动香港发展成为国际创科中心。 商汤科技亚太业务总裁、集团战略规划副总裁史军表示，基于商汤科技领先的视觉AI及大模型能力， 与中国移动香港共同开发创新的应用场景，打造垂域大模型，支持轻量化部署，共同探索人工智能与通 信技术融合的无限可能。未来，商汤科技会继续以"坚持原创"为使命，加强AI技术与各行业的融合，推 动香港创科生态圈发展。(完) 中国移动香港政企客户部总裁张炜表示，此次合作将聚焦AI+智能视 ...

行情速递 ①主板领涨，盈方微(+10.06%)/西陇科学(+10.05%)/永鼎股份(+10.04%)/信雅达(+10.03%)/吉 大正元(+10.00%)/ ②创业板领涨，新晨科技(+20.03%)/优博讯(+20.00%)/致尚科技(+20.00%)/ ③科创板领涨，仕佳光子(+13.09%)/柏楚电子(+6.88%)/信安世纪(+6.78%)/ ④活跃子行业，SW半导体设备(+0.99%)/SW门户网站(+0.91%)/ 国内新闻 ①盖世汽车资讯，中国汽车工业协会的统计分析显示/2025年的1 - 3月间/ 轿车销量排名前十的生产企业总共售出185.1万辆轿车/这一数字占据了轿车 销售总量的68.9%/这十家企业的销售情况各有不同/其中比亚迪股份、吉利 汽车、上汽通用五菱和中国一汽这几家企业的表现尤为突出/与上一年同期相 比/它们的销量实现了两位数的增长/展现出强劲的发展势头/ ③C114通信，爱立信官网最新消息显示/该公司将扩大其在印度的天线生产 规模/爱立信天线系统（EAS）正在扩大其在印度的本地制造布局/将该国定 位为爱立信全球网络中的战略创新中心/此举将进一步巩固EAS在构建高性能 移动网络方 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA MOBILE LIMITED 中國移動有限公司 （根據公司條例在香港註冊成立之有限公司） 股份代號：941（港幣櫃台）及 80941（人民幣櫃台） 海外監管公告 2025年第一季度報告 本公告乃中國移動有限公司（「本公司」）根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.10B條 而 作 出。 茲提述本公司在上海證券交易所網站刊登的《中 國 移 動 有 限 公 司2025年第一季 度 報 告》，僅 供 參 考。 承董事會命 中國移動有限公司 楊 杰 董事長 香 港，2025年4月22日 前瞻性陳述 本 公 告 中 所 包 含 的 前 瞻 性 陳 述 不 構 成 亦 不 應 視 為 本 公 司 作 出 的 承 諾。這 些 前 瞻 性 陳 述 涉 及 已 知 和 未 知 的 風 險、不 確 定 性 以 及 ...

Core Insights - China Mobile reported a stable revenue of 263.8 billion RMB in Q1 2025, unchanged from the previous year, with communication service revenue of 222.4 billion RMB, reflecting a year-on-year growth of 1.4% [1][3] - The company achieved a significant increase in net profit, with a total of 30.6 billion RMB, marking a 3.5% year-on-year growth, and a non-GAAP net profit of 28.9 billion RMB, which is a 10.8% increase compared to the previous year [1][3] - The number of 5G network customers surged to 578 million, with a quarterly increase of 26 million, indicating robust growth in the 5G segment [1][6] Revenue Performance - Total revenue for Q1 2025 was 263.8 billion RMB, consistent with the previous year, while main business revenue rose to 222.4 billion RMB, up 1.4% [1][3] - Other business revenue decreased by 6.8% to 41.4 billion RMB [1][3] - EBITDA reached 80.7 billion RMB, showing a year-on-year growth of 3.4%, with the EBITDA margin improving from 29.6% to 30.6% [3] Customer Metrics - The total number of mobile customers stood at 1.003 billion, slightly down by 0.94 million from the previous quarter, while 5G customers increased to 578 million [5][6] - The average revenue per user (ARPU) for mobile services rose to 46.9 RMB, reflecting a month-on-month increase [5][6] - The number of fixed broadband customers reached 320 million, with a net addition of 5.48 million in the quarter, significantly higher than the previous quarter's 970,000 [4][6] Strategic Developments - The enterprise market revenue share has increased, with a focus on AI and digital transformation projects, indicating a strategic shift towards becoming a digital service provider [6] - The company is implementing its "1225" strategy, focusing on upgrading its services and enhancing digital living, production, and governance [6]

Financial Performance - Total operating revenue for Q1 2025 was RMB 263.8 billion, a slight increase of 0.0% compared to RMB 263.7 billion in Q1 2024[3] - Main business revenue reached RMB 222.4 billion, reflecting a growth of 1.4% from RMB 219.3 billion in the same period last year[3] - Net profit attributable to shareholders increased by 3.5% to RMB 30.6 billion, up from RMB 29.6 billion in Q1 2024[3] - The net profit margin improved to 11.6%, an increase of 0.4 percentage points from 11.2% in the previous year[3] - EBITDA for the quarter was RMB 80.7 billion, representing a growth of 3.4% compared to RMB 78.0 billion in Q1 2024[4] - The EBITDA margin increased to 30.6%, up by 1.0 percentage point from 29.6% in the same quarter last year[4] - Operating profit for Q1 2025 reached RMB 39,016 million, compared to RMB 38,134 million in the same period last year, indicating a year-on-year increase of 2.3%[17] - Total comprehensive income for Q1 2025 was RMB 30,647 million, slightly up from RMB 30,545 million in Q1 2024[18] - The basic and diluted earnings per share for Q1 2025 were both RMB 1.42, an increase from RMB 1.38 in Q1 2024[18] Cash Flow and Assets - Cash flow from operating activities decreased by 45.0% to RMB 31.3 billion, down from RMB 56.9 billion in Q1 2024[3] - Cash flow from operating activities in Q1 2025 was RMB 31,317 million, a decrease of 45.1% compared to RMB 56,904 million in Q1 2024[19] - Cash and cash equivalents at the end of Q1 2025 were RMB 125,078 million, down from RMB 166,026 million at the end of Q1 2024, a decrease of 24.7%[20] - The company recorded a net cash outflow from investing activities of RMB 75,799 million in Q1 2025, compared to RMB 20,491 million in Q1 2024[19] - Total assets as of March 31, 2025, were RMB 2,090.3 billion, a slight increase of 0.8% from RMB 2,072.8 billion at the end of 2024[3] - The total assets as of March 31, 2025, amounted to RMB 2.09 trillion, compared to RMB 2.07 trillion at the end of 2024[15] Customer Metrics - As of March 31, 2025, the total number of mobile customers reached 1.003 billion, with 5G network customers at 578 million, reflecting a net decrease of 940,000 customers in the first quarter[10] - The mobile ARPU (Average Revenue Per User) increased to RMB 46.9, up from RMB 45.3 in the previous quarter, representing a growth of 3.5%[10] - The number of fixed broadband customers reached 320 million, with a net increase of 5.48 million in the first quarter, and the household broadband customer count was 282 million[11] - The household customer ARPU for the first quarter was RMB 40.8, reflecting a year-on-year growth of 2.3%[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 129,381[5] - The largest shareholder, China Mobile Hong Kong (BVI) Limited, holds 68.99% of the shares[6] Research and Development - The company’s R&D expenses increased to RMB 3,192 million in Q1 2025 from RMB 3,003 million in Q1 2024, reflecting a growth of 6.3%[17] Strategic Initiatives - The company is focusing on the "AI+" initiative and the "BASIC6" technology innovation plan to enhance service support for digital life and production[9] - The company aims to expand its market presence in emerging markets and enhance its digital content operations, with a focus on integrating communication and financial services[12]