Summary of Key Points Core Viewpoint - The mobile SMS business in China has experienced a cumulative decline in volume for the first five months of 2025, despite a significant year-on-year growth in May 2025. Group 1: Industry Performance - From January to May 2025, the total volume of mobile SMS messages reached 945.65 billion, reflecting a cumulative decrease of 2.6% compared to the previous period [1] - In May 2025 alone, the volume of mobile SMS messages was 200.82 billion, showing a year-on-year increase of 26.3% and a month-on-month increase of 2.1% [1]