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Printmgr File UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2013 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 1-14696 China Mobile Limited (Exact Name of Registrant as Specified in Its Charter) N/A (Translation of Registrant’s Name into English) Hong Kong, China (Jurisdiction of Incorporation or Organization) 60th Floor, The Center 99 Queen’s Road Central Hong Kong, China (Address of Principal Executive Offices) Grace Wong Company Secretary China Mobile Limited 60th Floor, The Center 99 Queen’s Road Central Hong Kong, China Telephone: (852) 3121-8888 Fax: (852) 2511-9092 (Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Ordinary shares, par value HK$0.10 per share New York Stock Exchange* * Not for trading, but only in connection with the listing on the New York Stock Exchange of American depositary shares representing the ordinary shares. Securities registered or to be registered pursuant to Section 12(g) of the Act: None (Title of Class) Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None (Title of Class) Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report. As of December 31, 2013, 20,102,539,665 ordinary shares, par value HK$0.10 per share, were issued and outstanding. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or (15)(d) of the Securities Exchange Act of 1934. Yes No ⌧ Note — Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections. Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ⌧ Accelerated filer Non-accelerated filer Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing. U.S. GAAP International Financial Reporting Standards as issued Other by the International Accounting Standards Board ⌧ If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No ⌧ TABLE OF CONTENTS China Mobile Limited Page Forward-Looking Statements 1 PART I Item 1. Identity of Directors, Senior Management and Advisers 2 Item 2. Offer Statistics and Expected Timetable 2 Item 3. Key Information 2 Item 4. Information on the Company 15 Item 4A. Unresolved Staff Comments 33 Item 5. Operating and Financial Review and Prospects 33 Item 6. Directors, Senior Management and Employees 46 Item 7. Major Shareholders and Related Party Transactions 51 Item 8. Financial Information 55 Item 9. The Offer and Listing 56 Item 10. Additional Information 57 Item 11. Quantitative and Qualitative Disclosures About Market Risk 65 Item 12. Description of Securities Other than Equity Securities 66 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 67 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 67 Item 15. Controls and Procedures 67 Item 16A. Audit Committee Financial Expert 68 Item 16B. Code of Ethics 68 Item 16C. Principal Accountant Fees and Services 68 Item 16D. Exemptions from the Listing Standards for Audit Committees 68 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 68 Item 16F. Change in Registrant’s Certifying Accountant 68 Item 16G. Corporate Governance 69 Item 16H. Mine Safety Disclosure 70 PART III Item 17. Financial Statements 71 Item 18. Financial Statements 71 Item 19. Exhibits 71 Forward-Looking Statements This annual report on Form 20-F contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to: • our business objectives and strategies; • our operations and prospects; • our network expansion and capital expenditure plans; • the expected impact of any acquisitions or other strategic transactions; • our provision of services, including 3G and 4G services and services based on evolution of 3G and 4G technology, and our ability to attract customers to these services; • our objectives and strategies for the development of our terminal procurement and distribution business; • the planned development of future generations of mobile telecommunications technologies and other technologies and related applications; • the anticipated evolution of the industry chain of 3G, 4G and future generations of mobile telecommunications technologies, including future development in, and availability of, terminals that support our provision of services based on 3G, 4G and future generations of mobile telecommunications technologies; • the expected impact of the potential implementation in China of value-added tax on our business, financial condition and results of operations; • the expected impact of tariff changes on our business, financial condition and results of operations; • the expected impact of new service offerings on our business, financial condition and results of operations; and • future developments in the telecommunications industry in Mainland China, including changes in the regulatory and competitive landscape. The words “aim”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “seek”, “should”, “target”, “will” and similar expressions, as they relate to us, are intended to identify certain of these forward-looking statements. We do not intend to update these forward-looking statements and are under no obligation to do so. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including the risk factors set forth in “Item 3. Key Information — Risk Factors”. -1- PART I Item 1. Identity of Directors, Senior Management and Advisers. Not applicable. Item 2. Offer Statistics and Expected Timetable. Not applicable. Item 3. Key Information. Selected Financial Data The following tables present selected historical financial data of our company as of and for each of the years in the five- year period ended December 31, 2013. Except for amounts presented in U.S. dollars and per American depositary share, or ADS, data, the selected historical consolidated statement of comprehensive income data and other financial data for the years ended December 31, 2011, 2012 and 2013 and the selected historical consolidated balance sheet data as of December 31, 2012 and 2013 set forth below are derived from, should be read in conjunction with, and are qualified in their entirety by reference to, our audited consolidated financial statements, including the related notes, included elsewhere in this annual report on Form 20-F. The selected historical consolidated statement of comprehensive income data for the years ended December 31, 2009 and 2010 and the selected historical consolidated balance sheet data as of December 31, 2009, 2010 and 2011 set forth below are derived from our audited consolidated financial statements that are not included in this annual report on Form 20-F. Our consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board. The statistical information set forth in this annual report on Form 20-F relating to Mainland China is taken or derived from various publicly available government publications that have not been prepared or independently verified by us. This statistical information may not be consistent with other statistical information from other sources within or outside Mainland China.
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