Ge Long Hui·2025-10-22 03:01Core Viewpoint - China Mobile's revenue for the first three quarters of this year grew by 0.4% year-on-year, while net profit increased by 4%, indicating stable performance despite macroeconomic uncertainties [1] Financial Performance - Revenue for the third quarter increased by 2.5% year-on-year, and net profit rose by 1.4% year-on-year, aligning with market expectations [1] - The main communication service revenue grew by 0.8% year-on-year, meeting market forecasts [1] Adjustments to Forecasts - Due to unclear macroeconomic conditions impacting personal customer business, the service revenue forecasts for the next two years have been revised down by 0.8% and 1.4% to 898.5 billion and 907.3 billion respectively [1] - Profit forecasts for the next two years have also been adjusted down by 0.5% and 1.3% to 144.6 billion and 150.4 billion, factoring in credit impairment losses [1] Rating and Target Price - The company maintains a "outperforming the industry" rating, with a target price for H-shares set at 107 HKD [1]