中国移动(00941) - 2021 - 中期财报

Financial Performance - In the first half of 2021, operating revenue reached RMB 443.6 billion, a year-on-year increase of 13.8%, with telecom service revenue at RMB 393.2 billion, up 9.8%[3] - The net profit attributable to shareholders was RMB 59.1 billion, with earnings per share of RMB 2.89, reflecting a 6.0% year-on-year growth[3] - The total comprehensive income for the first half of 2021 was RMB 58.837 billion, compared to RMB 56.489 billion in the same period of 2020[19] - The company reported a basic earnings per share of RMB 2.89, up from RMB 2.72 in the previous year[18] - The company's profit attributable to shareholders for the six months ended June 30, 2021, was RMB 59,118 million, an increase from RMB 55,765 million in the same period of 2020, representing a growth of 4.8%[20] - The total comprehensive income attributable to shareholders for the same period was RMB 58,769 million, compared to RMB 56,390 million in 2020, reflecting an increase of 4.2%[20] Customer Growth - The number of mobile customers reached 946 million, with a net increase of 3.59 million, and 5G package customers totaled 251 million, a net increase of 86 million[6] - The household broadband customer base grew to 205 million, with a net increase of 13.39 million, and household broadband revenue increased by 33.7% to RMB 50.1 billion[7] - As of June 30, 2021, the number of 5G network users reached 127 million, with a penetration rate of 13.4%, contributing to a stabilization and recovery of overall mobile ARPU[10] Revenue Segmentation - The enterprise market revenue reached RMB 73.1 billion, a year-on-year increase of 32.4%, with DICT revenue growing by 59.8% to RMB 33.4 billion[8] - Emerging market revenue achieved a year-on-year growth of 22.6%, reaching RMB 14.5 billion, while international business revenue increased by 19.5% to RMB 6.8 billion[9] - The revenue from data services reached RMB 208,581 million, slightly up from RMB 208,112 million in the previous year, indicating a growth of 0.2%[32] - The revenue from broadband services significantly increased to RMB 47,200 million, up 29.7% from RMB 36,368 million in the same period last year[32] - Communication service revenue from related party transactions amounted to RMB 635 million, up from RMB 268 million year-on-year, indicating a growth of 137%[65] Capital Expenditure and Investment - In the first half of 2021, the company invested a total of RMB 50.2 billion in 5G-related projects, with 501,000 5G base stations opened by the end of June, providing services to major urban areas and key regions[10] - Capital expenditure for the first half of 2021 was RMB 86.0 billion, representing 21.9% of communication service revenue, with RMB 50.2 billion allocated to 5G-related projects[82] - The total cost of property, plant, and equipment additions for the six months ended June 30, 2021, was RMB 85,976 million, down 14.83% from RMB 100,974 million for the same period in 2020[45] Cash Flow and Financial Health - Free cash flow increased by 28.0% year-on-year to RMB 75.6 billion, indicating healthy cash flow management[3] - The company reported an increase in cash and cash equivalents to RMB 274,143 million from RMB 212,729 million, reflecting a growth of 28.9%[21] - Operating cash inflow for the six months ended June 30, 2021, was RMB 185,353 million, up from RMB 181,136 million in the same period of 2020, indicating a growth of 2.4%[26] - The net cash generated from operating activities was RMB 161,618 million, slightly higher than RMB 160,065 million in the previous year, showing a marginal increase of 1%[26] Dividend and Shareholder Returns - The company declared an interim dividend of HKD 1.63 per share, a 6.5% increase year-on-year, aiming for continued growth in annual dividends[3] - The interim dividend declared was RMB 27,771 million, a decrease of 2.95% from RMB 28,616 million for the same period in 2020[40] - The company will withhold a 10% corporate income tax on dividends distributed to non-resident corporate shareholders for the 2021 interim dividend[106] 5G Development and Innovation - The company created over 4,000 commercial cases in more than 100 key industry scenarios since the launch of 5G, and added 100 group-level demonstration projects in the first half of 2021[11] - The company has applied for over 3,300 5G patents, ranking among the top global operators in terms of standard patent reserves[10] - The company’s 5G services for vertical industry clients exceeded 1,400, generating incremental DICT revenue of over RMB 6 billion in the first half of 2021[11] Financial Position - Total assets as of June 30, 2021, amounted to RMB 1,800,453 million, an increase from RMB 1,727,882 million at the end of 2020, representing a growth of 4.2%[21] - Total liabilities as of June 30, 2021, were RMB 618,614 million, up from RMB 575,110 million, indicating an increase of 7.6%[22] - The equity attributable to shareholders was RMB 1,177,978 million, compared to RMB 1,148,916 million at the end of 2020, representing a growth of 2.5%[24] Employee and Operational Efficiency - The company employed 446,898 employees as of June 30, 2021, with employee compensation and related costs amounting to RMB 55.9 billion, a 14.0% increase year-on-year[80] - The company has strengthened its marketing efficiency, resulting in a decrease in sales expenses to RMB 30.4 billion, down 3.1% year-on-year[80] Risk Management and Compliance - The company continues to maintain a prudent financial risk management policy, with no interest-bearing debt reported[83] - The company has complied with all provisions of the Corporate Governance Code during the six-month period ending June 30, 2021[102] - The group has no indications of impairment losses for investments in associates and joint ventures as of June 30, 2021[51]