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Last updated at: (Beijing Time) Wednesday, August 14, 2002

China Mobile Records 10 Percent Rise in Net Profit

China Mobile (Hong Kong) Limited(CMHK) recorded an increase of 10 percent in net profit for the first half of 2002, with a larger subscriber base.


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China Mobile (Hong Kong) Limited(CMHK) recorded an increase of 10 percent in net profit for the first half of 2002, with a larger subscriber base.

Announcing the 2002 interim results Wednesday, CMHK Chairman and Chief Executive Officer Wang Xiaochu said the company's net revenue was 15.2 billion yuan (1.84 billion US dollars) in the first half of 2002, representing an increase of 10 percent over the same period of last year.

The operating revenue of CMHK and its subsidiary reached 55.1 billion yuan (6.65 billion US dollars) and the earning reached 33.4 billion yuan (4.03 billion US dollars), up 13 percent and 15 percent, respectively, compared with the first half of 2001.

By the end of June this year, CMHK had over 80.3 million subscribers, representing a net increase of 10.66 million additional subscribers from year-end 2001.

The average minutes of usage per user per month was 209 minutesand the average revenue per user per month was 124 yuan (14.9 US dollars).

China Mobile is the largest mobile phone operator in the Chinese mainland. CMHK owns business of 13 provinces and municipalities, and it also acquired China Mobile's subsidiaries of 8 other provinces in July this year.

With the substantial development of the telecommunication market in the Chinese mainland, Wang said, he is confident about the company's stable and sustained growth.

CMHK, listed in the Stock Exchange of Hong Kong in 1997, has not distributed any dividends in the past. CMHK's board of directors did not recommend the payment of an interim dividend for2002.

The company, however, promised to pay a final dividend in respect of the fiscal year ending December 31, 2002.


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