China Mobile H1 2026 Operating Revenue at RMB 538B, Down 1.1% YoY
Nashnova编辑部
China Mobile posted RMB 538 billion in H1 revenue and RMB 78.9 billion in profit, down 1.1% and 6.3% respectively — but said profit grew on a like-for-like basis, pinning the reported decline on non-recurring items.
What happened on the revenue line?
H1 operating revenue came in at RMB 538 billion, down 1.1% year-on-year.
A sub-two-percentage-point dip is a mild contraction, not a cliff — but it marks a rare revenue decline for China Mobile in recent years.
Earnings per share stood at RMB 3.64, tracking the profit-side decline.
Profit fell 6.3% — so why does the company say it actually grew?
Reported profit attributable to shareholders was RMB 78.9 billion, down 6.3% — the number did fall.
But the company disclosed that on a like-for-like basis, profit achieved positive growth.
This means → the reported figure contains one-off drags (non-recurring factors); strip those out and core profitability held up.
In plain terms = the headline decline is not about the business getting worse — it was pulled down by certain one-time charges or adjustments.
How should investors read this scorecard?
A slight revenue dip plus a headline profit decline is not a positive signal for near-term sentiment.
But like-for-like profit growth suggests the core business remains intact; the key watch is whether non-recurring drags fade in H2.
This reflects a company in a "slowing but not stalling" phase — earnings quality matters more here than the growth headline.
Content is for reference only, not financial advice.