2 1 Shi Ji Jing Ji Bao Dao·2025-08-15 15:02Core Viewpoint - The financial performance of China's three major telecom operators shows mixed results, with China Mobile experiencing a revenue decline while China Telecom and China Unicom report growth. The operators are focusing on new technologies and strategic industries to drive future growth amidst increasing competition [2][4][6]. Revenue Performance - As of August 15, 2025, China Mobile's revenue was 543.8 billion yuan, a decrease of 0.5% year-on-year; China Telecom's revenue reached 269.4 billion yuan, an increase of 1.3%; and China Unicom's revenue surpassed 200 billion yuan, reaching 200.2 billion yuan, with a growth of 1.5% [2]. - China Mobile's revenue scale is approximately double that of China Telecom and China Unicom, despite its negative growth [2]. Profitability - In terms of net profit, China Mobile reported 84.2 billion yuan, a growth of 5.0% year-on-year; China Telecom's net profit was 23.0 billion yuan, up 5.5%; and China Unicom's net profit reached 6.349 billion yuan, increasing by 5.1% [3][4]. Business Performance - China Telecom's mobile communication service revenue grew to 106.6 billion yuan, a 1.3% increase, while its digital industry revenue reached 74.9 billion yuan [4]. - China Mobile's wireless internet revenue was 195.5 billion yuan, down 4.7%, while its application and information service revenue grew by 5.9% to 136.7 billion yuan [4]. - China Unicom's network communication revenue was 131.9 billion yuan, with its digital intelligence revenue reaching 45.4 billion yuan, accounting for 26% of its total revenue, marking the highest growth rate in the industry [4]. Strategic Focus - The three operators are actively investing in emerging industries such as artificial intelligence, low-altitude economy, and quantum computing to create new growth opportunities [4][5]. - China Telecom's AI revenue reached 6.3 billion yuan, growing by 89.4%, while China Mobile's AI-related income also saw significant growth [5]. - China Unicom's strategic emerging industry revenue accounted for 86% of its total revenue, indicating a shift towards new business models [5]. R&D Investment - China Unicom increased its R&D expenditure by 16%, focusing on next-generation internet and AI technologies, while China Telecom's R&D spending rose by 2.6% to 4.78 billion yuan [6]. - In contrast, China Mobile's R&D expenses decreased by 13.3% to 10.4 billion yuan, representing 1.9% of its revenue [6]. Competitive Landscape - The operators are facing intensified competition, with China Mobile's chairman criticizing the "malicious competition" in the market, particularly regarding low-priced data plans [6][7]. - Analysts suggest that companies should focus on enhancing core capabilities and creating differentiated competitive advantages to achieve mutual benefits in the industry [7].