Core Viewpoint - China Mobile's flow wallet function will officially go offline on September 30, 2025, with the closure of the wallet entry and the clearing of virtual data traffic every quarter [1][2]. Group 1: Flow Wallet Functionality - The flow wallet was launched by China Mobile based on a virtual data traffic account system, allowing users to purchase virtual data, transfer it, and extract it for direct internet use [2]. - Users can recharge their flow wallet with cash and share data with friends who have China Mobile numbers [2]. Group 2: Industry Trends - The overall internet traffic has reached 1.267 billion by August 2025, with WeChat mini-programs accounting for 950 million, indicating a shift in traffic distribution towards mobile games and video apps [3]. - The growth rate of mobile users in China has been declining, with net increases in mobile billing users dropping from approximately 21 million in 2021 to 17 million in 2024 for China Telecom, and from 18 million to 13 million for China Mobile during the same period [3]. - Revenue growth from mobile data traffic services is also declining, with negative growth observed in the last two years [4].

Core Viewpoint - China Mobile's app feature, the flow wallet, will be officially discontinued on September 30, 2025, with the current functionality already unavailable in China Telecom and China Unicom's services [1][2]. Group 1: Flow Wallet Functionality - The flow wallet allows users to purchase virtual data and transfer it among friends, but it will cease operations, with the last chance to use any remaining virtual data by the end of September 2025 [1][2]. - The flow wallet was initially launched in collaboration with Alibaba in 2014, targeting online shoppers and allowing them to earn data through purchases [1]. Group 2: Industry Trends - The mobile user base in China is nearing saturation, with net increases in mobile subscribers declining from 0.21 million in 2021 to 0.17 million in 2024 for China Telecom, and from 0.18 million to 0.13 million for China Mobile during the same period [3]. - Revenue growth from mobile data services is also declining, with overall telecom business revenue growth and total revenue growth decreasing year-on-year from 2021 to 2024, including negative growth in the last two years [3]. Group 3: Market Dynamics - The overall internet traffic in China reached 1.267 billion by August 2025, with WeChat mini-programs accounting for 0.95 billion, indicating a shift in user engagement towards apps like games and videos [2]. - The three major telecom operators are adjusting their data package offerings to include general data, targeted data, and data rights packages, focusing on specific applications like video and gaming [2].

Group 1 - On September 30, China Mobile's app wallet function will be discontinued [1] - Customers from China Telecom and China Unicom confirmed that the function is no longer available for queries on the same day [1]

Core Points - China Mobile's flow wallet feature will officially go offline on September 30, 2025, due to product optimization and integration [1][2] - Users are advised to utilize any remaining virtual data in their accounts before the deadline, as the virtual data will be cleared at the end of each natural quarter [1][2] - The flow wallet was designed as a value transaction application for managing and sharing data among users, with a pricing model of 3 yuan for 1GB [1] Summary by Sections - **Announcement Details** - The flow wallet feature will be closed at 24:00 on September 30, 2025, and the access point will be removed from the app [2] - Users must extract any remaining virtual data before the specified expiration date to avoid losing it [2] - **Functionality of Flow Wallet** - The flow wallet allows users to purchase virtual data, share it with friends through various methods, and transfer it to their communication accounts for immediate use [1] - The virtual data has a validity period of 24 hours once transferred to the communication account [1]