TapTechNews August 9th news, China Mobile released an announcement yesterday. In the first half of 2024, the company's operating income was 546.7 billion yuan (about $78.13 billion), with a year-on-year increase of 3.0%. The net profit attributable to shareholders of the parent company was 80.2 billion yuan (about $11.47 billion), with a year-on-year increase of 5.3%.
Yang Jie, the chairman of China Mobile, said at the 2024 interim results briefing after the release of the financial report that the company's income growth rate in the first half of this year slowed down compared to previous years, mainly due to the transmission effects brought about by many changes in the external environment, such as insufficient effective domestic demand and the new productive forces cultivation is still in the transition period from old to new kinetic energy.
Yang Jie also said: The company has developed to a new stage of transformation and upgrading, so it still needs time to adjust, cultivate and improve. The information service market has also shown some new changes. The traditional communication demand is tending to be saturated, and the new potential information service demand still needs to be further explored and stimulated. The traditional income-increasing kinetic energy has weakened, and the cultivation of the new kinetic energy of AI still needs time.
TapTechNews found out that in 2023, China Mobile's revenue exceeded one trillion yuan for the first time with a year-on-year growth of 7.7%, and the net profit was 131.8 billion yuan, with a year-on-year growth of 5.0%.
In 2022, China Mobile's revenue was 937.3 billion yuan, with a year-on-year growth of 10.5%; the net profit was 125.5 billion yuan, with a year-on-year growth of 8.0%.
In the first half of 2024, the revenue of China Mobile's personal market reached 255.2 billion yuan; The number of mobile customers exceeded 1 billion, with a net increase of 9.26 million, among which the number of 5G network customers reached 514 million, with a net increase of 49 million, and the penetration rate reached 51.4%.