On August 12th, Guolonghui reported that tianfeng's research report pointed out that China Mobile's operation and development is stable and improving in the second half of the year, and the revenue growth rate is expected to improve compared to the first half of the year. The company's C-end business is stable, and the smart home is effectively expanded. The government and enterprise business, particularly the cloud business, continues to grow rapidly, driving the overall revenue growth of the company. At the same time, capital expenditures are decreasing year by year, costs and expenses are controllable, competition advantages are continuously stable, cash flow is sufficient, dividend payout ratio is guaranteed, and sustained dividends can be expected, making it an excellent choice among high dividend stocks. Considering the increasing adverse effects brought by the current external environment changes, effective demand is still insufficient, and the old and new kinetic energy are in a transitional period, the company's transformation and development is facing some uncertainties. It is expected that the net income attributable to the parent company in 2024-2026 will be 13.9/14.55/15.21 billion yuan (the original value was 14.26/15.31/16.43 billion yuan), maintaining the "buy" rating.