Core Insights - China Mobile reported a strong performance for the first half of 2025, with significant growth in both mobile and home market revenues [2][3] Financial Performance - Total operating revenue reached RMB 543.8 billion, with communication service revenue at RMB 467.0 billion, reflecting a year-on-year growth of 0.7% [3][5] - EBITDA was RMB 186.0 billion, showing a 2.0% increase year-on-year [3] - Net profit attributable to shareholders was RMB 84.2 billion, up 5.0% compared to the previous year [3] Customer Metrics - The total number of mobile customers reached 1.005 billion, with a net increase of 560,000 [2] - 5G network customers totaled 599 million, with a net increase of 46.9 million, achieving a penetration rate of 59.6% [2] - Home broadband customers reached 284 million, with a net increase of 6.23 million [2] Investment and Infrastructure - China Mobile invested RMB 25.8 billion in 5G network infrastructure, with over 2.599 million 5G base stations operational, marking a net increase of 187,000 [2] - The company achieved 100% cloud integration of its core network, leading the global market [2] Dividend Announcement - The company declared an interim dividend of HKD 2.75 per share, representing a year-on-year increase of 5.8% [3]

Core Insights - The launch of the "Zhongyi Zaiwu" passive unified enhancement platform and cellular passive system prototype by China Mobile addresses the pain points in asset management through zero-power technology, enabling battery-free, wired-free, and manual intervention-free operations [1] - The core value of passive IoT lies in its disruptive technology logic, which allows terminal tags to operate by capturing energy from wireless radio frequency signals, facilitating battery-free and non-contact data collection and communication [1] - Compared to traditional IoT devices, passive technology can reduce costs to less than 1%, and its maintenance-free characteristic makes it more economical for large-scale deployment, particularly in high-frequency and wide-coverage asset management scenarios such as warehousing, logistics, and manufacturing [1] Industry Developments - China Mobile has been deeply engaged in the passive IoT field since 2020, leading the 3GPP standard formulation and developing end-to-end systems, collaborating with industry leaders like Haier and Longsheng Technology to create solutions for smart warehousing and energy monitoring [1] - The newly launched platform integrates IoT, big data, and artificial intelligence technologies, supporting both networked and cellular passive devices, and features six major functions including automated inventory, intelligent inbound and outbound logistics, and precise location tracking [1] - A large warehouse utilizing this platform has reduced inventory counting efficiency from "day-level" to "minute-level," with labor costs decreasing by over 80% and error rates approaching zero [2] Future Outlook - The release of the "White Paper on Cellular Passive IoT Technology (2025)" and the "White Paper on Cellular Passive IoT Tags" by China Mobile systematically outlines the technological evolution of passive IoT across new network architectures, tag design, and functional expansion [2] - The white papers highlight the deep integration of passive IoT with cellular networks through a "reverse scattering" mechanism, establishing a three-in-one technical system of "wide area coverage, massive connections, and ubiquitous perception" [2] - According to data from the China Academy of Information and Communications Technology, the IoT market in China is expected to exceed 3 trillion yuan by 2025, with passive IoT poised to become the next breakout point due to its low cost and low power consumption characteristics [2] Company Positioning - The launch of the platform and system prototype by China Mobile not only solidifies its leading position in the 5G-A era but also lays the foundation for the "perception is connection" technology in the 6G era through an open cooperation model [3]

Core Viewpoint - The article highlights the advancements in smart logistics technology showcased during the 2025 China Langfang International Economic and Trade Fair, emphasizing the importance of innovative solutions in enhancing efficiency and reducing costs in the logistics sector [1]. Group 1: Transportation Innovations - The ARK 20 drone from SF Express is a notable example of logistics innovation, capable of carrying 5 kilograms over a distance of 40 kilometers, suitable for various delivery scenarios [2]. - The use of drones can significantly shorten delivery distances, as illustrated by the example of reducing travel time between Zhongshan and Shenzhen by avoiding land routes [4]. Group 2: Warehouse Upgrades - The collaboration between China Foreign Trade and Hebei Mobile has led to the development of passive IoT terminals that do not require a power source, reducing costs to 0.2-0.3 yuan per label and expanding application scenarios [5]. - The implementation of passive IoT devices allows for rapid inventory checks, transforming traditional manual processes that typically take weeks into a few minutes [6]. Group 3: Management Solutions - Tongfu Group focuses on restructuring county-level commercial logistics to address inefficiencies in traditional distribution channels, which often lead to increased costs and wasted resources [7]. - The establishment of the Tongfu Shared Platform aims to streamline the supply chain by aggregating orders and facilitating bulk purchasing, thereby reducing production and marketing costs for manufacturers [9]. - The report indicates that technological innovation will drive efficiency in the global logistics industry from 2024 to 2025, marking a significant trend in the sector [9].

Core Viewpoint - The passive Internet of Things (IoT) represents a revolutionary change in the IoT field, utilizing passive tags and sensors for device communication without the need for built-in batteries, resulting in lower costs and flexible deployment [1][2][20]. Industry Overview - Passive IoT operates by harvesting micro-energy from the environment, such as radio waves, thermal energy, and vibrations, to maintain device functionality [1][3]. - The technology has significant implications for logistics tracking, environmental monitoring, and building automation [1][2]. Technological Features - The four main characteristics of passive IoT include micro-energy self-supply, extreme energy efficiency, environmental friendliness, and broad applicability [3]. - The core technologies of passive IoT are environmental energy harvesting, low-power computing, and low-power communication [6][7]. Market Status - The passive IoT market in China is projected to exceed 7 billion yuan in 2024, showing substantial year-on-year growth [20]. - The industry chain of passive IoT exhibits a pyramid structure, with a larger number of upstream hardware companies compared to fewer solution providers and end customers in the mid and downstream segments [8]. Development Background - The global cellular IoT market is experiencing unprecedented growth, with the number of connections expected to reach 3.9 billion in the first half of 2024, a 20% increase year-on-year [10]. - In China, the number of mobile IoT (cellular) terminal users is projected to reach 2.656 billion by the end of 2024, representing a 13.9% year-on-year increase [12]. Policy Support - The Chinese government has been actively supporting the development of passive IoT through various policies, including the promotion of 5G-Advanced (5G-A) technologies and the establishment of international standards [16][18]. - The Ministry of Industry and Information Technology (MIIT) has issued several notifications to encourage the integration of passive IoT into the broader IoT ecosystem [16][18]. Future Trends - The future direction of passive IoT technology will closely rely on the integration and widespread application of 5G and Microwave Dynamic Flight Control (MDFC) technologies [22]. - As technology advances and more application scenarios emerge, the market scale of passive IoT is expected to continue expanding [22].