On March 23, China Mobile disclosed its 2021 annual report, which was also the first financial report disclosed by China Mobile after returning to a. According to the announcement data, in 2021, the operating revenue of China Mobile reached 848258 billion yuan, a year-on-year increase of 10.4%; The net profit attributable to the shareholders of the parent company was 115937 billion yuan, a year-on-year increase of 7.5%.
“Thanks to the rapid expansion of smart home, dict, mobile cloud, digital content and other businesses, the digital transformation revenue reached 159.4 billion yuan, with a year-on-year increase of 26.3%, and the contribution to the increment of main business revenue reached 59.5%, which is the first driving force to promote the growth of the company’s revenue.”. The announcement disclosed by China Mobile shows that on the whole, the company’s revenue growth has broken through the inflection point, and the “second curve” of digital transformation revenue is leading the company to explore a broader market space in the blue ocean of information services.
In addition, at the performance briefing held by China Mobile on the same day, Yang Jie, chairman of China Mobile, told media reporters such as Securities Daily that if the conditions are appropriate, it will consider splitting some businesses and listing them separately in the future.
continuous adjustment of revenue structure
voice business revenue decline
According to the announcement, in 2021, China Mobile achieved a main business revenue of 751.4 billion yuan, an increase of 8% year-on-year, of which the voice business revenue continued to show a downward trend. The annual voice business revenue was 76.2 billion yuan, a decrease of 3.3% over the previous year, and the total call minutes decreased by 1.2% over the previous year; The revenue of short MMS business was 31.1 billion yuan, an increase of 5.5% over the previous year, mainly due to the company’s further deepening of the value management of the group’s short message business, and the steady growth of revenue.
In 2021, thanks to the rapid growth of government and enterprise businesses such as dict, the rapid growth of family value-added services such as “magic Baihe” and the rapid growth of emerging businesses such as “Migu video”, the annual application and information service revenue reached 137 billion yuan, with a year-on-year increase of 35.6%, contributing 5.2 percentage points to the growth of main business revenue. The development trend is good, which promotes the further optimization of the overall revenue structure.
In 2021, the government enterprise market revenue of China Mobile maintained rapid growth, reaching 137.1 billion yuan, a year-on-year increase of 21.4%. The number of government and enterprise customers reached 18.83 million, with a net increase of 4.99 million. The revenue of dict reached 62.3 billion yuan, a year-on-year increase of 43.2%, and its contribution to the growth of main business revenue reached 2.7 percentage points. In terms of mobile cloud, build the differentiated advantages of cloud network integration, cloud data integration, cloud intelligence integration and cloud edge collaboration, continuously optimize the product capability system and accelerate the sprint to the first camp in the industry. Mobile cloud revenue reached 24.2 billion yuan, a year-on-year increase of 114.4%. In terms of 5g vertical field, it has established an industry-leading image, the leading demonstration effect of 5g continues to highlight, the private network and application are deeply integrated into the industry, and many subdivided fields have entered the stage of scale replication.
“The effect of income structure adjustment of the three operators is very remarkable.” Huang Han, CO chief analyst of Guosheng securities communications, told the Securities Daily, “Taking mobile as an example, the share of government enterprise business increased from 13.3% in 2019 to 18% in 2021. It is not easy for the volume of operators. The end of the 14th five year plan of mobile is to open the revenues of BC in half. Meanwhile, the government enterprise business has also been the focus of the operators’ development in recent years, especially the cloud business of the three operators has shown a double growth trend.”.
In Huang Han’s view, the impact of the business level will be reflected in the long-term value. At present, the proportion of cloud business and other growth blocks is still relatively small. At the same time, there are some uncertainties in the profitability of the operator’s b-end business. The short-term stock price support is still the growing dividend rate. In the medium and long term, with the continuous development of high-end b-end business with cloud computing as the core, the proportion is further increased, and the operator is expected to separate this part for valuation, It also does not rule out the possibility that operators take the initiative to separate this part of the business for listing.
last year, 5g package users increased by 222 million
build another 2800005g base stations this year
According to the announcement disclosed by China Mobile, in 2021, the personal market reversed the downward trend and achieved positive growth, with revenue reaching 483.4 billion yuan, a year-on-year increase of 1.4%; The number of customers with 5g packages increased by 1.49 billion and the net number of customers with 5g packages increased by 2.72 billion, keeping the leading position in the industry.
In 2021, China Mobile vigorously promoted the joint construction and sharing with China Radio and television 5g network. In 2021, 5g related investment totaled 114 billion yuan, and a total of more than 7 Toread Holdings Group Co.Ltd(300005) g base stations were opened, including 2 Shenzhen Quanxinhao Co.Ltd(000007) 00MHz 5g base stations, which basically achieved continuous coverage in urban areas, counties and towns. Some key areas, rural areas and key property sites were well covered, serving 207 million 5g network customers, and the scale of 5g network and customer scale ranked first in the world.
“We jointly build and share with radio and television. Last year, we built 2 Shenzhen Quanxinhao Co.Ltd(000007) 00mhz5g base stations. This year, we plan to build another 28 Shenzhen Sdg Information Co.Ltd(000070) 0mhz5g base stations. In these two years, the whole 700MHz base station will cover the whole country.” Yang Jie said, “the goal is to have both villages, towns and cities, solve more coverage problems below towns and counties, and solve more in-depth coverage and quality problems in urban areas”.
