Nan Fang Du Shi Bao·2025-10-21 09:05Core Viewpoint - China Mobile's Q3 2025 financial report shows modest growth in revenue and net profit, with a focus on expanding its customer base in mobile and broadband services while facing challenges in traditional mobile business profitability [1][3][4]. Financial Performance - For the first three quarters of 2025, China Mobile reported total revenue of 794.67 billion RMB, a year-on-year increase of 0.41%, and a net profit attributable to shareholders of 115.35 billion RMB, up 4.03% [1][4]. - In Q3 2025, the company achieved revenue of 250.9 billion RMB, reflecting a 2.5% year-on-year increase, while net profit was 31.12 billion RMB, up 1.4% [3][4]. - The EBITDA for the first three quarters was 265.4 billion RMB, a 0.9% increase, with an EBITDA margin of 33.4% [6]. Profitability Metrics - The gross margin for the first three quarters was 31.09%, an increase of 0.27 percentage points year-on-year, while the net margin was 14.52%, up 0.50 percentage points [5]. - In Q3, the gross margin decreased to 29.94%, down 0.88 percentage points year-on-year, and the net margin was 12.42%, a decline of 0.14 percentage points [5]. Customer Growth and Business Segments - China Mobile's total mobile customer base reached 1.009 billion, with 622 million 5G customers, adding 23 million in the quarter [6][7]. - The broadband segment showed strong performance, with a total of 329 million wired broadband customers, adding 14.2 million in the first three quarters [7]. - The average revenue per user (ARPU) for mobile services fell to 48.0 RMB per month, a decrease of 3% from the previous quarter [8]. Strategic Initiatives - The company is focusing on new growth areas, including DICT (Data, Information, Communication Technology) and AI, with significant growth in international business revenue [8]. - China Mobile is leveraging its "CHBN" strategy to integrate mobile, broadband, and applications, aiming to enhance user value and explore new revenue streams [7].