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<Research>Citi: CHINA MOBILE 1Q NP Slightly Below Mkt Forecast, Reiterates Buy
Recommend
23
Positive
33
Negative
15
Citi issued a research report on CHINA MOBILE (00941.HK), of which total revenue in 1Q26 added 1% YoY to RMB266.48 billion, 2.5% above market expectations. However, service revenue edged down 1.1% YoY to RMB219.85 billion.

Dampened by rising R&D and network-related costs, EBITDA sank 5% YoY to RMB76.67 billion, 5.2% below market expectations, while the EBITDA margin narrowed 1.8 ppts YoY to 28.8%. Net profit attributable to shareholders lost 4.2% YoY to RMB29.34 billion, 2.8% below market expectations.

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The broker maintained a Buy rating on CHINA MOBILE with a TP of HKD105.1.
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