CHL
China Mobile (Hong Kong) Ltd.

Market cap $192.47B
Enterprise value $121.59B
Employees 460,647
Revenue $116B
EBITDA $42.6B
Income $17.8B
EPS 4.39
P/E 10.82
Forward P/E N/A
EV/EBITDA 2.86
PEG N/A
Earnings date N/A
Volume 293k / 808k
Relative vol. 0.36 ×
Profit margin 15.33%
Oper. margin 17.74%
Gross margin 69.60%
Sales Q/Q 9.00%
Sales Y/Y -1.47%
Est. EPS Q/Q N/A
Beta 0.59
Mean Recomm. 2.00
IPO year 1997
Country Hong Kong
RSI 23.67
Range $47.30 – $48.28
52 weeks $46.83 – $58.83
SMA 50 $50 +4.48%
SMA 200 $51 +6.28%
1 year target $69 +42.50%

Intraday

5 days

1 month

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1 year

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All time

Overweight → Underweight
Morgan Stanley 4 July 2017

China Mobile (Hong Kong) executives

Insider Title Age Since Compensation
Yue Li (57)
Chief Executive Officer, Executive Director since 2010
Chief Executive Officer, Executive Director 57 2010 $863,800
Yuejia Sha (59)
Vice President, Executive Director since 2006
Vice President, Executive Director 59 2006 $803,100
Kwong Shing Wong (69)
Independent Non-Executive Director since 2002
Independent Non-Executive Director 69 2002 $470,000
Mo Chi Cheng (67)
Non-Executive Independent Director since 2003
Non-Executive Independent Director 67 2003 $452,000
Man Yiu Chow (71)
Independent Non-Executive Director since 2013
Independent Non-Executive Director 71 2013 $404,900
Bing Shang (61)
Executive Chairman of the Board since 2015
Executive Chairman of the Board 61 2015 $136,700
Kin Wah Yiu (56)
Independent Non-Executive Director since 2017
Independent Non-Executive Director 56 2017
Wai Lan Wong
Company Secretary
Company Secretary
Xin Dong (50)
Chief Financial Officer, Vice President, Executive Director since 2017
Chief Financial Officer, Vice President, Executive Director 50 2017
China Mobile (Hong Kong) Ltd. logo

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. It offers voice services, including local calls; domestic and international long distance calls and roaming services; and voice value-added services, such as caller identity display, call waiting, conference calls, and others. The company also provides wireless Internet service, as well as digital applications, including music, video, reading, gaming, and animation; and wireline broadband services. In addition, it offers dedicated line services to corporate customers in a range of industry sectors; and basic corporate communication products, such as corporate VPMN and SMS, as well as tailor made solutions. Further, the company provides international telecommunications services, which includes IDD, roaming, Internet, MNC services, and value added business. Additionally, it offers telecommunications network planning design and consulting services; roaming clearance services; technology platform development and maintenance services; and system integration and development solutions, as well as operates a network and business coordination center. The company is involved in network construction and maintenance, as well as network planning and optimizing, and training services; and provision of electronic communication products design and sale of related products, non-banking financial services, computer hardware and software research and development services, call center services, and mobile Internet digital content services. As of 31 December 2016, it served 849 million mobile customers and 77.62 million wireline broadband customers. The company was formerly known as China Mobile (Hong Kong) Limited and changed its name to China Mobile Limited in May 2006. The company was incorporated in 1997 and is based in Central, Hong Kong. China Mobile Limited is a subsidiary of China Mobile Hong Kong (BVI) Limited.

Profit margin

Debt to assets

Cash flow

Balance sheet

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Current assets
Cash $83,008 $90,413
Short term investments $395,061 $367,194
Net receivables $112,542 $103,208
Inventory $7,307 $8,832
Other current assets $207 $197
Total current assets $615,859 $586,645
Long term investments $127,855 $124,074
Property, plant & equipment $723,960 $712,209
Goodwill $35,343 $35,343
Intangible assets $1,621 $1,708
Other assets $70,258 $61,015
Deferred long term asset charges $36,472 $29,767
Total assets $1,574,896 $1,520,994
Current liabilities
Accounts payable $242,131 $252,044
Short long term debt $5,000 $5,000 $10,550 $10,550
Other current liabilities $87,760 $193,187
Total current liabilities $550,716 $536,389
Long term debt
Other liabilities $2,652 $2,467
Deferred long term liabilities
Minority interest $3,167 $3,117
Total liabilities $553,368 $538,856
Stockholders' equity
Stock option warrants
Common stock $402,130 $402,130
Retained earnings $882,106 $841,590
Treasury stock -$265,875 -$264,699
Capital surplus
Other stockholder equity -$265,875 -$264,699
Total stockholder equity $1,018,361 $1,018,361 $979,021 $979,021
Net tangible assets $981,397 $981,397 $941,970 $941,970
(in millions) 2016 2015 2014
Current assets
Cash $13,038 $12,297 $12,016
Short term investments $4,590 $2,952 $322
Net receivables $14,851 $6,918 $5,173
Inventory $1,271 $1,539 $1,498
Other current assets $50,666 $51,552 $59,475
Total current assets $84,415 $75,258 $78,486
Long term investments $17,854 $26,591 $11,356
Property, plant & equipment $102,483 $103,740 $112,852
Goodwill $5,086 $5,443 $5,697
Intangible assets $245 $118 $127
Other assets $4,497 $4,828 $5,439
Deferred long term asset charges $4,283 $3,915 $3,329
Total assets $218,864 $219,893 $217,285
Current liabilities
Accounts payable $64,162 $65,031 $62,352
Short long term debt $893 $99 $281
Other current liabilities $12,129 $12,027 $10,302
Total current liabilities $77,184 $77,159 $72,936
Long term debt $769 $805
Other liabilities $2,467 $1,494 $1,568
Deferred long term liabilities $355 $230 $253
Minority interest $449 $467 $333
Total liabilities $77,988 $78,625 $74,326
Stockholders' equity
Stock option warrants
Common stock $402,130 $402,130 $400,737
Retained earnings $841,590 $779,660 $718,901
Treasury stock -$264,699 -$264,454 -$232,722
Capital surplus
Other stockholder equity $140,876 $141,268 $142,959
Total stockholder equity $140,876 $141,268 $142,959
Net tangible assets $135,545 $135,707 $137,135

Income statement

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Revenue
Total revenue $180,629 $204,871 $184,000 $165,721
Cost of revenue -$94,051 $94,051 $281,811
Gross profit $274,680 $110,820 $184,000 -$116,090
Operating expenses
Research & development
Selling, general & administrative -$57,330 $57,330 $57,330 $73,369
Non-recurring
Other operating expenses $352,870 -$54,770 $151,700 -$338,273
Total operating expenses $128,903 $169,197 $151,700 $154,997
Operating income $51,726 $35,674 $32,300 $10,724
Income from continuing operations
Net other income -$13,421 $13,421 $19,338
EBIT $51,726 $35,674 $32,300 $10,724
Interest expense -$7,685 -$121 -$121 -$235
Income before tax $38,305 $49,095 $32,300 $30,062
Income tax expense $8,932 $11,168 $7,500 $9,323
Minority interest $3,167 $3,167 $3,117
Net income from continuing ops $29,373 $37,927 $24,800 $20,739
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA $29,425 $37,875 $24,800 $20,641
Income (for common shares) $29,425 $37,875 $24,800 $20,641
(in millions) 2016 2015 2014
Revenue
Total revenue $101,938 $102,922 $105,014
Cost of revenue $21,327 $20,271 $18,349
Gross profit $80,611 $82,651 $86,665
Operating expenses
Research & development
Selling, general & administrative $43,748 $45,730 $47,960
Non-recurring
Other operating expenses $19,870 $21,072 $19,794
Total operating expenses
Operating income $16,992 $15,850 $18,910
Income from continuing operations
Net other income $2,586 $5,109 $2,812
EBIT $20,821 $22,205 $23,051
Interest expense $34 $70 $78
Income before tax $20,787 $22,135 $22,973
Income tax expense $5,126 $5,402 $5,348
Minority interest $449 $467 $333
Net income from continuing ops $16,904 $17,978 $18,954
Non-recurring events
Discontinued operations
Extraordinary items
Effect of accounting change
Other items
Net income
EBITDA $15,661 $16,733 $17,625
Income (for common shares) $15,661 $16,733 $17,625

Cash flow

(in millions) 2017Q3 2017Q2 2017Q1 2016Q4
Net income $29,425 $37,875 $24,800 $20,641
Operating activities
Depreciation
Net income adjustments
Change in accounts receivable
Changes in liabilities
Changes in inventory
Changes in other operating activities
Total cash flow from operations
Investing activities
Capital expenditures
Investments
Other cash flows from investing
Total cash flows from investing
Financing activities
Dividends paid
Sale and purchase of stock
Net borrowings
Other cash flows from financing
Total cash flows from financing
Effect of exchange rate
Change in cash and equivalents
(in millions) 2016 2015 2014
Net income $15,661 $16,733 $17,625
Operating activities
Depreciation $20,006 $21,180 $19,878
Net income adjustments -$1,905 -$4,025 -$2,280
Change in accounts receivable -$1,377 -$1,126 -$1,474
Changes in liabilities $5,316 $3,971 $3,420
Changes in inventory $127 -$155 -$44
Changes in other operating activities -$6,448 -$5,777 -$7,586
Total cash flow from operations $36,506 $36,203 $34,887
Investing activities
Capital expenditures -$27,082 -$26,525 -$28,155
Investments -$170 -$416 $318
Other cash flows from investing -$737 $4,958 $3,459
Total cash flows from investing -$27,991 -$21,982 -$24,376
Financing activities
Dividends paid -$6,764 -$7,382 -$8,210
Sale and purchase of stock $292 $1,324
Net borrowings -$248 -$1,255 $108
Other cash flows from financing -$33 -$4,978 -$77
Total cash flows from financing -$7,045 -$13,322 -$6,855
Effect of exchange rate $51 $30 -$7
Change in cash and equivalents $1,471 $899 $3,655
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