Xin Lang Cai Jing·2025-10-13 06:09Group 1 - The core viewpoint is that China Mobile benefits from its monopolistic market position and large user base, providing defensive business characteristics and stable cash flow amidst economic uncertainty [3] - The company's core telecommunications services are essential for daily life, ensuring stable demand that can withstand economic cycles, thus creating a revenue moat [3] - Growth drivers include active promotion of digital transformation, with strong growth in emerging businesses such as cloud computing, 5G applications, and artificial intelligence, optimizing revenue structure and injecting new vitality for long-term development [3] Group 2 - The company offers an attractive high dividend yield of over 6 cents, with a commitment to increase the payout ratio to above 75%, providing reliable cash flow returns for investors during volatile market conditions [3] - The stable high dividend is seen as an ideal defensive strategy, helping to reduce overall portfolio volatility [3]