China Mobile 0941

Re: China Mobile 0941

Postby winston » Fri May 26, 2017 9:11 am

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China Mobile sees huge revenue fall

by Aylin Huang

China Mobile (0941) said yesterday revenue this year could fall by 7 billion yuan (HK$7.94 billion) as a result of its plan to cancel roaming fees before October 1 and cut further fees in its subscription plans.

The largest mobile telecom services provider by market capitalization expects the revenue fall to escalate to 19 billion yuan next year due mainly to the scrapping of roaming fees.

Executive director Shang Bing said China Mobile will strive harder to generate more customers to cushion the impact of the fall in subscription fees and loss of roaming fees.

Chief executive Li Yue said the company will not offer unlimited data plans in the mainland, lest it suffers a loss in the future.

He admitted China Mobile might lose customers to rival China Telecom Corporation (0728) which is offering unlimited data plans.

But China Mobile won't follow its rival's lead as the move generates profits in the short term, but losses in the long term as the volume of consumed data rises.

Meanwhile, the firm saw in April a 40 percent plunge from March in the number of its 4G customers.

Despite the setback, China Mobile still expects to generate 100 million new 4G customers this year, Shang said.

He attributed the April fall to stiffening competition in the mobile market and weaker sales

Separately, the company's unit in Hong Kong supports the proposal of Hong Kong telecom authorities to offer a hybrid form of mobile spectrum to local mobile operators, Li said.

Source: The Standard
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Re: China Mobile 0941

Postby winston » Wed Jun 14, 2017 10:20 am

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May 19, 2017

CHINA MOBILE Apr Mobile Subscribers Reach 860M; 4G Clients Up 5.256M (Correct)

CHINA MOBILE (00941.HK) announced that the total number of mobile subscribers was 860 million in April, up 3.462 million than the previous month.

The aggregate addition of customers was 11.049 million this year. In April, 4G clients equaled 573 million, up 5.256 million than the previous month.

Broadband subscribers amounted to 88.074 million during the month, up 2.393 million monthly.

(Correct: 2017-05-19 10:45:08 CHINA MOBILE Apr Mobile Subscribers Reach 860M; 4G Clients Up 5.256M)

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Wed Jun 14, 2017 10:20 am

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May 19, 2017

CHINA MOBILE Apr Mobile Subscribers Reach 860M; 4G Clients Up 5.256M (Correct)

CHINA MOBILE (00941.HK) announced that the total number of mobile subscribers was 860 million in April, up 3.462 million than the previous month.

The aggregate addition of customers was 11.049 million this year. In April, 4G clients equaled 573 million, up 5.256 million than the previous month.

Broadband subscribers amounted to 88.074 million during the month, up 2.393 million monthly.

(Correct: 2017-05-19 10:45:08 CHINA MOBILE Apr Mobile Subscribers Reach 860M; 4G Clients Up 5.256M)

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Wed Jun 28, 2017 3:14 pm

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CHINA MOBILE: 4G Users Reach 583M Now; Expects 99% Population Coverage This Year

CHINA MOBILE (00941.HK)'s chairman Shang Bing said at an event that the company has invested $450 billion as of now and built 1.62 million 4G base stations, covering 583 million 4G users, mainland media reported.

He anticipated that China Mobile will commence mobile IoT construction in 346 cities this year and expected 4G base stations will reach 1.77 million with a population coverage of 99%.

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Wed Jul 05, 2017 12:05 pm

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<Research Report>M Stanley Downgrades CHINA MOBILE (00941.HK) to Underweight; Cuts Target to $70

Morgan Stanley, in its report, double downgraded CHINA MOBILE (00941.HK) to Underweight from Overweight, with target price significantly cut from $100 to $70.

The broker's Chinese telecom industry view was adjusted to Cautious from Attractive.

CHINA MOBILE and CHINA UNICOM (00762.HK) were the "least preferred" stocks among Asian telecom stocks, due to the 5G capex and deterioration in returns.

Morgan Stanley estimated IRR of 4% for 5G, compared to 13% for 4G.

Morgan Stanley projected 5G capex of RMB480 billion (14% of revenue) in 2019-23, 1.7x 4G
capex of RMB275 billion (10% of revenue) in 2012-16; and 5G penetration to reach 12% by 2023, four years after service launch, compared to one year for 4G.

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Thu Jul 06, 2017 1:52 pm

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<Research Report>Daiwa Trims CHINA MOBILE (00941.HK) Target to $116.5; Mkt Overly Worried about 5G Capex

Daiwa, in its report, said recent concerns over 5G capex and unlimited data plans have emerged in the market, but the broker believed these issues are overblown.

The broker's forecasts assume operators to spend RMB2 trillion over 2020-25, inclusive of 5G and other network investments.

Some in the market interpreted this to mean that the industry is now on the cusp of yet another capex upcycle, but the broker said such view is premature, because the scale of network investments necessary depends on both the use cases - mobile broadband, autonomous vehicles, internet-of-things (IOT) and spectrum considerations.

The broker lowered its 2017-19 EPS forecast of CHINA MOBILE (00941.HK) by 2%-6.5% on higher depreciation forecasts and after taking into account lower roaming fees.

Accordingly, the broker cut the target price slightly to $116.5 from $118, with rating Buy. With the status of 4G industry leader, China Mobile is still the industry top pick, Daiwa said.

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Tue Jul 11, 2017 9:07 am

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<Research Report>M Stanley Expects CHINA MOBILE Long-term Return Has Deterioration Risk; Reiterated Underweight

Morgan Stanley, in its report, said in the short term, the broker saw CHINA MOBILE (00941.HK) engaging in intensifying mobile competition with the emergence of unlimited data price war, and in the long term, Morgan Stanley expected significant deterioration in returns. Thus the broker kept the target price at $70, reiterating Underweight.

5G-related expenses are likely to increase in 2018. Morgan Stanley also expected higher opex including tower lease fees, maintenance and utility expenses, and terminal subsidies.

The broker estimated a 13% CAGR in China Mobile's capex in 2018-23, with EBITDA margin declining from 41% to 36%, driving ROE to fall from 11% to 7%.

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Thu Aug 10, 2017 1:46 pm

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<Post-Result>CHINA MOBILE Surges 4.2% to Over 4-Month High on In-line Interim Results with Special Div

CHINA MOBILE (00941.HK) released its interim results at midday and its results were in concordance with estimates.

Together with the declaration of special dividend, the telecom stock peaked at $89.6 after midday to over four-month high and last stood at $88.2, showing a continuous rise of 4.2%, on volume increasing to 28.28 million shares.

CHINA MOBILE announced at midday that net profit rose 3.5% yearly for the first half of the year to RMB62.675 billion.

EPS equaled RMB3.06.

Interim dividend gained 9% yearly to HK$1.623, together with special dividend of HK$3.2 for listing anniversary.

During the period, EBITDA lifted 4.7% yearly to RMB140.7 billion.

Total operating revenue advanced 5% yearly to RMB388.87 billion.

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Sat Oct 07, 2017 11:05 am

Oct 3, 2017

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Citi Rates Buy on CHINA MOBILE; Cuts Target to $107

Citigroup, in its report, trimmed CHINA MOBILE (00941.HK) (-0.100 (-0.127%); Short selling $218.39M; Ratio 14.066%) 2017-2019 EPS forecast by 1%, 2% and 3% based on latest market tendency.

Correspondingly, the target price was cut to $107 from $113 and the investment rating was maintained at Buy.

The research house believed that CHINA MOBILE has high defensiveness in which its 4G business will be the main driver for earnings growth.

Meanwhile, fixed-line broadband and data-center related businesses will be another growth momentum in the long term perspective.

If the A shares of the company goes listing, cash return will have greater upside potential.

Source: AAStocks Financial News
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Re: China Mobile 0941

Postby winston » Sat Oct 07, 2017 4:55 pm

China Mobile Looks Cheap, but There’s a Catch

The Chinese telecom leader has $60 billion of net cash. Will the government claim it, or return it to holders via higher dividend payments?

By ANDREW BARY

China Mobile is one of the world’s largest telecom companies, with a cellular customer base of 874 million and annual revenue of $112 billion.

It also has the industry’s best balance sheet, with $60 billion of net cash, equal to 30% of its market value.


Trades for 12 times projected 2017 earnings of $4.23 a share. S


Shares yield 3.3% (after a 10% withholding tax on the dividend), based on the semiannual payout. China Mobile also paid a special dividend of $1.84 a share in August to mark its 20th anniversary as a public company.


The company’s net cash position could top $70 billion by year end after China Mobile receives the expected proceeds from a large initial public offering in Hong Kong of a cellphone-tower business owned jointly with two smaller rivals, China Telecom (CHA) and China Unicom (CHU).


The company expects to add 100 million 4G customers this year. It has also moved into fixed-line broadband, where it now has 99 million customers.

Revenue per mobile customer is low, however, at about $9 per month.

Total revenue is expected to rise around 6% this year, to $112 billion (based on the current dollar/renminbi exchange rate), and earnings per share could increase by 5%.


Source: Barron's Asia

http://www.barrons.com/articles/china-m ... 1507349388
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