The state-owned telephone company China Mobile earns 7.7% more in 2021

Shanghai (China), 23 Mar The state-owned telephone company China Mobile, the number one in the Asian country, increased its net profit by 7.7% in 2021 to 116,148 million yuan (18,228 million dollars, 16,546 million euros). In his income statement, which was submitted today to the Hong Kong Stock Exchange, where it is listed, the company's president, Yang Jie, is pleased to have managed to “take firm advantage of the opportunities arising from the acceleration of the digital transformation of society and the economy”. This, he continued, had as a backdrop to a year marked by “obstacles and challenges” such as the resurgence of covid-19 or disruption in industrial supply chains. Nevertheless, the company's turnover expanded by 10.4% to 848,258 billion yuan ($133.139 billion, 120,891 million euros), something Yang celebrated as “the fastest revenue growth rate in a decade.” More than 88.5 per cent of that amount came from businesses dedicated to telecommunications services, which had a turnover of 8% more than in the previous year. Within this segment, the one that contributed the most (59.5%) was the one dedicated to digital transformation, mobile cloud, smart homes or “DICT” (acronym for data, information and communications technology) services, which billed 26.3% more than in 2020. “Overall, we have passed the tipping point and made progress in terms of revenue growth. Our growth curve (...), with digital transformation as a major component, is driving the company to explore a broader market in the information services ocean,” said Yang. China Mobile ended 2021 with 957 million mobile phone customers, of which 387 million used fifth-generation (5G) network services, 222 million more than the previous year. For its part, the number of fixed broadband users increased from 210 million to 240 million. The president of the state-owned company also celebrated the “milestone” of the IPO in Shanghai, which occurred after its exclusion in New York, although the 51.4 billion yuan (8,069 million dollars, 7,332 million euros) it obtained with it - and which makes it the biggest debut in China in a decade - are not reflected in the account of results, since the operation took place on January 5. Looking ahead to 2022, the operator insists on its commitment to the development of the digital economy in the country, although it warns of greater competition in the sector and of “uncertainties” such as the shortage of semiconductor supply or fluctuations in energy and raw material prices. In another statement, the board announced that it will propose the payment of a dividend of HK$2.43 ($0.31, 0.28 euros) for the 2021 financial year.