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新藍海 Digital Economy Annual Report 2020 Theme

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新藍海 Digital Economy Annual Report 2020 Theme China Mobile Limited Stock Code: 941 BLUE OCEAN 開拓數字經濟新藍海 DIGITAL ECONOMY ANNUAL REPORT 2020 THEME A new wave of technological revolution and industry transformation is sweeping the world in the most significant manner. Digital transformation has quickened its pace in every sector in the economy and society, presenting unprecedented opportunities in the blue-ocean information service market. Riding on these historic opportunities, China Mobile will focus on technological innovation to create competitive advantages and open up development space toward information services. FORWARD-LOOKING STATEMENTS Certain statements contained in this annual report may be viewed as “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from those implied by such forward-looking statements. In addition, we do not intend to update these forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company’s most recent Annual Report on Form 20-F filed and other filings with the U.S. Securities and Exchange Commission. CONTENTS 2 4 Milestones Corporate Information 5 6 7 Financial Company Biographies of Highlights Profile Directors and Senior Management 14 24 28 Chairman’s Corporate Business Statement Recognitions Review 36 44 46 63 Financial Sustainability Corporate Human Resources Review Report Governance Development Report 64 73 78 80 Report of Independent Consolidated Consolidated Directors Auditor’s Report Statement of Balance Sheet Comprehensive Income 82 83 86 150 Consolidated Consolidated Notes to the Financial Statement of Statement of Consolidated Summary Changes in Equity Cash Flows Financial Statements 02 China Mobile Limited Milestones 1 3 4 4 China Mobile Launched “5G Commenced China Mobile endeavoured to cherry blossom 5G commercial built the world’s provide reliable appreciation” services in Hong highest base communications, using 5G ultra HD Kong, providing station, providing maintain service live streaming, quality 5G 5G coverage in continuity and step VR, 4K, unmanned services Mount Everest up comprehensive aerial vehicles prevention and and other control measures technologies in the course of its fight against COVID-19 Milestones Annual Report 2020 03 5 7 9 11 Made an Set sail for the China Mobile Rolled out the announcement on development of saw its number “5G+Blooming the collaborative 5G dedicated of 5G package Action” campaign framework networks and customers surpass with industry agreement officially released 100 million partners, entered into details of the three promoting open between the key mechanisms cooperation, parent company surrounding mutual benefits and China 5G dedicated and sharing Broadcasting network products, Network technology and Corporation Ltd. in operations relation to 5G co-construction and sharing 04 China Mobile Limited Corporate Information BOARD OF DIRECTORS COMPANY SECRETARY AMERICAN DEPOSITARY RECEIPTS DEPOSITARY Executive Directors Ms. WONG Wai Lan, Grace Mr. YANG Jie BNY Mellon Shareowner Services (Executive Director & Chairman) AUDITORS P.O. Box 505000 Mr. DONG Xin Louisville, KY 40233-5000 (Executive Director & PricewaterhouseCoopers USA Chief Executive Officer) Registered Public Interest Mr. WANG Yuhang Entity Auditor Overnight Correspondence: (Executive Director) PricewaterhouseCoopers The Bank of New York Mellon Mr. LI Ronghua Zhong Tian LLP Shareholder Correspondence (Executive Director & Recognised Public Interest 462 South 4th Street, Suite 1600 Chief Financial Officer) Entity Auditor Louisville, KY 40202 USA Independent Non-Executive LEGAL ADVISER Tel: 1-888-269-2377 (toll free in USA) Directors 1-201-680-6825 (international call) Dr. Moses CHENG Mo Chi Sullivan & Cromwell (Hong Kong) Email: [email protected] Mr. Paul CHOW Man Yiu LLP Website: www-us.computershare.com/Investor Mr. Stephen YIU Kin Wah Dr. YANG Qiang REGISTERED OFFICE PUBLICATIONS PRINCIPAL BOARD 60/F, The Center As required by the United States COMMITTEES 99 Queen’s Road Central securities laws and regulations, the Hong Kong Company shall file an annual report Audit Committee on Form 20-F with the US SEC Mr. Stephen YIU Kin Wah (Chairman) PUBLIC AND INVESTOR before 30 April each year. Copies of Dr. Moses CHENG Mo Chi RELATIONS the annual report of the Company Mr. Paul CHOW Man Yiu as well as the annual report on Form Dr. YANG Qiang Tel: 852 3121 8888 20-F, once filed, will be available at: Fax: 852 2511 9092 Remuneration Committee Website: www.chinamobileltd.com Hong Kong: Dr. Moses CHENG Mo Chi Stock code: (HKEX) 941 China Mobile Limited (Chairman) (NYSE) CHL 60/F, The Center Mr. Paul CHOW Man Yiu 99 Queen’s Road Central Mr. Stephen YIU Kin Wah CUSIP Reference Number: Hong Kong 16941M109 Nomination Committee The United States: Mr. Paul CHOW Man Yiu (Chairman) SHARE REGISTRAR BNY Mellon Dr. Moses CHENG Mo Chi Depositary Receipts Mr. Stephen YIU Kin Wah Hong Kong Registrars Limited 240 Greenwich Street, 8 West Shops 1712–1716, New York, NY 10286 17/F Hopewell Centre USA 183 Queen’s Road East Wanchai Hong Kong Annual Report 2020 05 Financial Highlights Operating Revenue Revenue from Telecommunications Services (RMB million) (RMB million) 2019 2020 2019 2020 745,917 768,070 674,392 695,692 Profit Attributable to Equity Shareholders Basic Earnings Per Share (RMB million) (RMB) 2019 2020 2019 2020 106,641 107,843 5.21 5.27 2020 2019 Operating revenue (RMB million) 768,070 745,917 Of which: Revenue from telecommunications services (RMB million) 695,692 674,392 EBITDA1 (RMB million) 285,135 295,967 EBITDA margin2 37.1% 39.7% EBITDA as % of revenue from telecommunications services 41.0% 43.9% Profit attributable to equity shareholders (RMB million) 107,843 106,641 Margin of profit attributable to equity shareholders3 14.0% 14.3% Basic earnings per share (RMB) 5.27 5.21 Dividend per share – Interim (HK$) 1.530 1.527 – Final (HK$) 1.760 1.723 – Full year (HK$) 3.290 3.250 1 EBITDA = profit from operations + depreciation and amortization 2 EBITDA margin = EBITDA/operating revenue 3 Margin of profit attributable to equity shareholders = profit attributable to equity shareholders/operating revenue 06 China Mobile Limited Company Profile China Mobile Limited (the “Company”, and together The Company’s ultimate controlling shareholder is with its subsidiaries, the “Group”) was incorporated in China Mobile Communications Group Co., Ltd. (formerly Hong Kong on 3 September 1997. The Company was known as China Mobile Communications Corporation, listed on the New York Stock Exchange (“NYSE”) and “CMCC”), which, as of 31 December 2020, indirectly The Stock Exchange of Hong Kong Limited (“HKEX” held approximately 72.72% of the total number of issued or the “Stock Exchange”) on 22 October 1997 and 23 shares of the Company. The remaining approximately October 1997, respectively. The Company was admitted 27.28% was held by public investors. as a constituent stock of the Hang Seng Index in Hong Kong on 27 January 1998. In 2020, the Company was once again selected as one of The Global 2,000 World’s Largest Public Companies As the leading telecommunications services provider by Forbes magazine and Fortune Global 500 by Fortune in the mainland of China, the Group provides magazine. The China Mobile brand was once again listed full communications services in all 31 provinces, in BrandZ™ Top 100 Most Valuable Global Brands 2020 autonomous regions and directly-administered by Millward Brown ranking 36. Currently, the Company’s municipalities throughout the mainland of China and in corporate credit ratings are equivalent to China’s Hong Kong Special Administrative Region, and boasts sovereign credit ratings, namely, A+/Outlook Stable from a world-class telecommunications operator with the Standard & Poor’s and A1/Outlook Stable from Moody’s. world’s largest network and customer base, a leading position in profitability and market value ranking. Its businesses primarily consist of mobile voice and data business, wireline broadband and other information and communications services. As of 31 December 2020, the Group had a total of 454,332 employees, and a total of 942 million mobile customers and 210 million wireline broadband customers, with its annual revenue totalling RMB768.1 billion. China Mobile Principal Organizational Structure China Mobile Communications Group Co., Ltd. China Mobile (Hong Kong) Group Limited China Mobile Hong Kong (BVI) Limited 72.72% Public shareholders 27.28% China Mobile Limited China Mobile Communication Co., Ltd Operating subsidiaries in 31 provinces, autonomous regions and directly–administered municipalities in Other specialized subsidiaries* the mainland of China and Hong Kong * Other specialized subsidiaries include: • China Mobile Group Design Institute Co., Ltd. • China Mobile Group Finance Co., Ltd. • China Mobile Group Device Co., Ltd. • China Mobile IoT Company Limited • China Mobile International Limited • China Mobile Information Technology Company Limited • China Mobile Online Services Co., Ltd. • MIGU Co., Ltd. • China Mobile (Suzhou) Software Technology • China Mobile (Hangzhou) Information Technology Co., Ltd. Company Limited • China Mobile Internet Company Limited • China
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