China Mobile (0941) recorded a 70.28 billion yuan (HK$81.83 billion) net profit in the first half of the year, rising by 18.9 percent year-on-year thanks to its growing customer base and further reduction in costs.
The network operator's total number of customers reached 970 million, of which the number who subscribed to the 5G package was 511 million.
Further, the average revenue per user increased by 0.2 percent year-on-year to 52.3 yuan while operating revenue was 496.9 billion yuan - up 12 percent year-on-year - and of which, 426.4 billion yuan was revenue from telecommunications services.
Meanwhile, the company expanded in both customer base and revenue. Aggregate revenue from home, business and new markets accounted for 40 percent of services revenue, indicating a continued improvement in revenue structure.
The company has proposed an interim dividend of HK$2.2 per share, representing an increase of 34.9 percent year-on-year. The full-year dividend payout ratio for this year will continue to increase from last year.
Furthermore, the dividend payout ratio will increase to 70 percent or above for 2030.
China Mobile believes the country's growing digital economy presents valuable opportunities for intelligent transformation as China's digital economy is expected to grow from 39.8 percent of its GDP last year to making up over 50 percent by 2025.
When asked about the company having delisted from New York's stock exchange, the chief financial officer Li Ronghua said it had no impact on the company.
