CHINA MOBILE(SH:600941)2025-06-04 15:25Summary of the Conference Call on China's Mobile Internet Industry (Q1 2025) Industry Overview - The report focuses on the Chinese mobile internet industry, specifically analyzing user behavior and trends in mobile applications and smart screen usage from January 2020 to March 2025 [5][16]. Key Insights 1. Market Growth and User Trends - In Q1 2025, the average number of monthly independent devices in the mobile internet sector increased by 2.6% year-on-year, indicating a stabilization in market demand as the growth momentum shifts from expansion to activation of existing users [13][14]. - The monthly independent device count reached approximately 14.39 billion in March 2025, with a slight fluctuation in growth rates month-on-month [15]. 2. User Engagement and Attention - User engagement metrics show a decline, with the average effective daily usage time per device at 268.0 minutes, down 3.9% year-on-year, and the number of daily uses per device at 63.4 times, down 5.1% year-on-year [22][24][26]. - This decline reflects a growing competition for user attention, indicating a shift towards a more fragmented user engagement landscape [22]. 3. Sector Performance - The top three sectors by penetration rate are communication and chat, aggregated information, and lifestyle services. The artificial intelligence sector saw a remarkable growth of 62.7% year-on-year, becoming the fastest-growing area [18][19]. - Conversely, sectors like female and child services experienced negative growth, highlighting increased market competition and demand contraction [18]. 4. User Behavior Shifts - As of March 2025, short video applications accounted for 29.1% of total usage time, while video services accounted for 8.9%, reflecting a continued shift towards entertainment content consumption [28][30]. - Communication and information aggregation saw a decline in usage time, indicating a fragmentation in user behavior [28]. 5. Smart Screen Trends - The smart screen market reached 339 million devices in Q1 2025, with an average daily operating time of 361 minutes, showing a slight increase of 0.44% year-on-year [36]. - The penetration rate for various usage scenarios, such as on-demand and live streaming, is over 50%, with significant engagement from leading domestic brands [38][40]. Additional Insights - The food delivery sector is facing intensified competition, with new entrants like JD.com and enhanced services from Meituan and Ele.me leading to a potential market reshuffle [48][52]. - The e-commerce sector is witnessing a steady increase in user engagement, with the average effective daily usage time reaching 23.8 minutes and usage frequency at 7.5 times per device [57][62]. - The tourism and travel sector experienced a 3.6% year-on-year growth in Q1 2025, driven by domestic travel recovery and favorable policies [71][73]. This comprehensive analysis highlights the evolving landscape of the Chinese mobile internet industry, emphasizing the need for companies to adapt to changing user behaviors and competitive dynamics.