China Mobile (stock code 00941) has announced its financial results for the first three quarters ending September 2025, reporting a net profit of 115.4 billion RMB, reflecting a 4% year-on-year growth and maintaining steady growth. Excluding interest, taxes, depreciation, and amortization, the EBITDA recorded 265.4 billion RMB, up 0.9% year-on-year, indicating that its core operational performance remains resilient.
During the period, the total operating revenue reached 794.7 billion RMB, representing a year-on-year increase of 0.4%. Among this, revenue from telecommunications services amounted to 683.1 billion, accounting for the majority of total revenue, with a year-on-year growth of 0.8%. In contrast, product sales revenue declined by 1.7% year-on-year, slowing down the overall revenue growth.
As of the end of September, China Mobile’s total mobile customer base reached 1.009 billion, with a net addition of about 4 million customers quarter-on-quarter, indicating a continued progress in market penetration. Among these, the number of 5G network users has climbed to 622 million, marking an increase of 23 million since the end of June, which represents an annual growth rate of about 15%. This demonstrates the effectiveness of their strategy to promote the adoption of 5G.
However, the average revenue per user (ARPU) recorded in the first three quarters was 48 RMB, a slight drop from 49.5 RMB in the first half of the year, showing a decline of about 3%. This indicates a slight slowdown in the contribution value per user, possibly related to increased market competition and changes in the pricing structure.
In addition to mobile services, China Mobile’s fixed-line business has also made progress. By the end of September, the number of wired broadband customers had increased to 329 million, marking a rise of 6 million since June, reflecting an expansion in their business layout within the residential market.
China Mobile stated that in the future, it will continue to deepen the precise management of the personal market while promoting the upgrade of smart home service systems. This will involve leveraging technological innovation to expand diverse business scenarios, enhancing overall user value and profitability.
