China Mobile recently released its interim results for 2024. During this period, China Mobile achieved a revenue of RMB 546.7 billion, representing a year-on-year growth of 3.0%. Out of this, the revenue from its main businesses reached RMB 463.6 billion, a year-on-year increase of 2.5%. The total number of connections surpassed 3.5 billion, with a net addition of 150 million. Revenue from HBN within the CHBN framework accounted for 45.0% of the main business revenue, up 2.3 percentage points year-on-year. The revenue from the "Second Curve" digital transformation reached RMB 147.1 billion, an increase of 11.0%, accounting for 31.7% of the main business revenue, up 2.4 percentage points from the same period last year.
The net profit attributable to shareholders of the parent company was RMB 80.2 billion, an increase of 5.3% year-on-year, with a basic earnings per share of RMB 3.75. EBITDA stood at RMB 182.3 billion, with an EBITDA margin of 39.3% of the main business revenue. The annualized return on net assets reached 12.0%, an increase of 0.2 percentage points year-on-year, maintaining its leading profitability position among top international operators. Capital expenditure was RMB 64.0 billion, and free cash flow was RMB 67.4 billion.
To better reward shareholders and share the development achievements, the company considered its profitability, cash flow status, and future development needs. It decided to declare an interim dividend of HKD 2.60 per share for 2024, an increase of 7.0% year-on-year. The proportion of profits distributed in cash for the whole year of 2024 is expected to further increase compared to 2023, continuously creating greater value for shareholders.
China Mobile stated that in the first half of 2024, despite the complex external environment and numerous challenges, the company united its efforts and made concerted progress, seizing the significant opportunities presented by the new productivity development in the information service industry. Following the "One Two Two Five" strategic implementation approach, the company has focused on the development of "two new types," deeply implemented the "BASIC6" technology innovation plan, and vigorously promoted the "AI+" initiative. These efforts have significantly enhanced the company's capability to provide information services, achieved steady progress in business development, continuously improved efficiency and effectiveness, and yielded remarkable results in digital and intelligent transformation, taking high-quality development to a new level. These achievements are hard-earned.