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CHINA MOBILE: Traditional Telecom Services Demand Saturates; RMB15B+ Invested in AI Last Yr
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CHINA MOBILE (00941.HK) announced its interim results, with Executive Director and Chairman Yang Jie stating that the group's results in the first quarter were stable with progress. Various results indicators were robust, and the group's digital transformation yielded results. In terms of challenges, the growth in telecom services revenue slowed as traditional demand began to saturate, and the effects of past favorable factors such as demographic benefits gradually diminished. Although the group is developing new businesses, including AI, and these businesses are growing rapidly, their scale and volume are still relatively small, requiring more time to generate revenue. Yang mentioned that AI is one of the key focuses for the group's future development, with investments in AI reaching RMB15.3 billion last year and RMB6 billion in the first half of this year, with further investment expected to advance. Regarding China Mobile Hong Kong's further acquisition of shares in HKBN (01310.HK), Yang expressed hope that the acquisition could create effective synergies. In recent years, the group has been actively making deployment in Hong Kong, such as establishing an innovation research institute. He noted that the business in Hong Kong has developed briskly in recent years and hoped to maintain this momentum in the future. AASTOCKS Financial News Website: www.aastocks.com |
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