941
72 9,000 超過 萬基站 超過 萬客戶
目錄 2 大事記 6 財務撮要 8 公司簡介 10 公司資料 11 董事及高級管理人員簡介 16 董事長報告書 24 業務概覽 30 財務概覽 35 企業管治報告 48 人力資源發展 50 董事會報告書 66 股東週年大會通告 69 獨立核數師報告 70 合併綜合收益表 72 合併資產負債表 74 資產負債表 75 合併權益變動表 76 合併現金流量表 78 合併財務報表附註 130 財務概要 132 專用詞彙釋義
2000 6 28 10 4 Vodafone Group Plc. Vodafone Group Plc.25 11 3 68.65 6.9 2005 125 1997 9 3 10 2223 42 1998 6 4 1999 11 2 20 6 2004 11 12 11 13
2001 6 18 50 2001 10 23 2002 7 1 10 28 80 2003 1 22 80 2004 7 1 002 003
2006 3 28 5 29 6 8 2007 10 2223 10 2010 3 10 395 20%10 11 25
2012 8 23 70,273,935 15% 2013 12 4 4GTD-LTE 4G16 12 18 2014 6 9 55 True Corporation Public Company Limited True Corporation 18% 7 11 40 40% 004 005
6.05 6.43 2014 2013 2012 641,448 630,177 581,835 581,817 590,811 560,413 EBITDA 1 235,259 240,426 253,646 EBITDA 2 36.7% 38.2% 43.6% 109,279 121,692 129,274 3 17.0% 19.3% 22.2% 5.38 6.05 6.43 1.540 1.696 1.633 1.380 1.615 1.778 2.920 3.311 3.411 1 EBITDA 2 EBITDA = EBITDA/ 3 = /
EBITDA EBITDA 630,177 641,448 38.2% 36.7% 240,426 235,259 2013 2014 2013 2014 19.3% 121,692 17.0% 109,279 6.05 5.38 2013 2014 2013 2014 006 007
1997 9 3 1997 10 2223 1998 1 27 2014 500 2,000 (Dow Jones Sustainability Emerging Markets Index)Aa3 / AA- /
99.97% 92%66.41% 2014 12 31241,5508.07 2014 12 31 (BVI)(BVI)72.85%27.15% 4G 008 009
FCS, FCIS 99 60 852 3121 8888 852 2511 9092 www.chinamobileltd.com 941 CHL CUSIP 16941M109 183 17 1712 1716 BNY Mellon Shareowner Services P.O. Box 30170 College Station, TX 77842-3170 USA Overnight Correspondence: BNY Mellon Shareowner Services 211 Quality Circle, Suite 210 College Station, TX 77845 USA 1-888-BNY-ADRS 1 201 680 6825 shrrelations@cpushareownerservices.com www.mybnymdr.com 20-F 20-F 99 60 Depositary Receipts 101 Barclay Street, 22/F New York, NY 10286 USA
632011 7 1977 552003 3 1976 010 011
58 2002 7 EMBA 562006 3
51 2006 32014 7 2012 11 682001 4 City e-solutions Limited 012 013
672002 82013 5 PSA JP 1993 199820132015 GBS, OBE, JP 652003 3 ARA Asset Management Limited3
GBS, SBS, JP 682013 52003 42010 1 19972003 AustralianSuper 014 015
4G 4G
6,4141.8% 5,8181.5% 2,531 22.3% 43.5% 1,539 42.2% 4G 1,09310.2% 17.0% EBITDA2,353 2.1% EBITDA36.7% EBITDA 40.4% 4G 4G4G 4G 4G 724G10 4G 4G 4G 4G 4G4G 4G9,0004G DOU780MB71 4GGTITD-LTE TD-LTE 4G 016 017
4G 8 3,943 2G 3G4G 115.1%42.9% 25.9% 24.8% IDC 57.5% 71.1% 2G 3G 4G 4G 4G 4G2G 3G 4G4G 4G
4G 4G True Corporation 018 019
13.7% 2,260 70,539 BRANDZ 100 Aa3/ AA-/ 43% 1.380 1.540 2.920 43%
+ 4G OTT 4G 020 021
07:30 19:45 22:15
07:30 07:45 13:15
4G 4G 8.075.1%4G 9,006 3,09013.1%2,53122.3% 1,50642.9%25.9%8.1 2014 2013 806.6 767.2 39.4 56.9 4G 90.1 (MOU) / / 453 486 (DOU) MB / / 155 72 4GMB / / 780 (ARPU) / / 61 67 4G 8.073,9434G 4G 9,006 115.1% 24.8% 3,09013.1% 4.290.5%(MOU) 4536.7% 34815.8%
2,53122.3% 1.13MB115.1% (DOU)155MB115.1% 1,50642.9%25.9% 64412.3% 4G 4G 4G4G780MB 4G 724G10 4G 4G 4G2G 3G4G 4G 9,006 4G TD-LTE600 4G 4G 71 GTITD-LTE TD-LTE 52 024 025
90% 3/6/930/60/90 True Corporation 2 2,0004,000
VIP 17.5% 4G 2,135(48%)(34%)(4%) (4%) (8%)(2%)1,997 (39%)(33%)(8%)(5%) (13%)(2%) 4G4G4G 4G 4G4G4G 026 027
11:40 13:15 15:15 Bryan
18:40 13:15 23:15
4G 4G4G 4G 6,4141.8% 1,09310.2%17.0% EBITDA2,3532.1%, EBITDA36.7%, EBITDA 40.4% 5.3811.1% 4G 6,4141.8% 5,8181.5% 2014 2013 % 641,448 630,177 1.8 581,817 590,811-1.5 308,959 355,686-13.1 253,088 206,886 22.3 19,770 28,239-30.0 59,631 39,366 51.5
3,09013.1%OTT 4.290.5% 53.1%7.1 ARPU 2,53122.3%43.5%8.5 4G 4G4G 1,53942.2% 26.4% 11,329 MB115.1%33 OTT 34815.8% 16.7%64412.3% 11.1% 5,2416.0%81.7% 2014 2013 % 524,114 494,528 6.0 21,083 18,727 12.6 23,389 25,998-10.0 116,225 104,699 11.0 36,830 34,376 7.1 75,781 91,834-17.5 74,464 61,363 21.3 176,342 157,531 11.9 030 031
21112.6%3.3% TD-SCDMA TD-SCDMA TD-SCDMA 23410.0%3.7% 1,16211.0%18.1%4G 4G 3687.1% 5.7%4G 241,550 75817.5%11.8% 74521.3% TD-LTE 4G 1,763 11.9%27.5% 525237,808283
EBITDA2,3531,093EBITDA 36.7% 17.0%5.38 2014 2013 % 117,334 135,649-13.5 109,279 121,692-10.2 EBITDA 235,259 240,426-2.1 5.38 6.05-11.1 51 0.6% 98.7% 4.51%556 2014 2013 % 477,583 467,189 2.2 818,866 700,203 16.9 1,296,449 1,167,392 11.1 431,876 370,913 16.4 5,930 5,755 3.0 437,806 376,668 16.2 2,067 1,951 5.9 856,576 788,773 8.6 032 033
4G 2,110-25 4,28398.6%0.2%1.2% 2014 2013 211,022 224,985 1 (2,486) 40,097 Aa3/AA-/ 43% 1.380 1.5402.920 43% 1
2014 12 31 2014 12 31 (BVI) 72.85% 27.15% 2014 3 3622 2014 5 22 (1) (2) (3) 034 035
I. 615 i. 1/40 ii. 502,000 99 60 (i) (ii) II. 1/20 566-568 III. 13.51(2) 7 7 580
2002 43% 2014 17 246675861 20142014 5 22 88 2013 12 31 99.9986% 2013 12 3199.9989% 98.0388% 99.8468% 99.9034% 2014 036 037
2015 12 31 2015 3 19 4 8 4 9 5 28 6 8 9 2014 12 31 2014 2014 2015 2014 12 31 2015 6 30 2015 6 30 2015 3 19 11 15
2014 12 31 6/6 2/2 1/1 1/1 6/6 5/5 2/2 1/1 1/1 5/6 4/5 2/2 0/1 1/1 6/6 5/5 1/1 6/6 1/1 6/6 1/1 6/6 1/1 1 5/6 0/1 6/6 0/1 5/6 1/1 1 2015 3 19 2014 2015 038 039
11 15 A.6.52014 12 31 2014 12 31 53 56 2014 1 12014 12 31
2014 20145393 1 2014 2013 12 31 201320-F 2014 6 30 2013 Sarbanes-Oxley Act404 2014 2013 040 041
2014 2014 2 2013 2014 2014 1
2014 939 11 15 2005 2003 12 3120-F 042 043
(jubao@chinamobile.com) (010-52616186) 404 2014 2015
2014 2014 12 31 404 6 2014 2013 2 91 85 3 6 7 2 404 3 404 2014 2014 2014 (Dow Jones Sustainability Emerging Markets Index) 404 COSO2013 044 045
IT 2014 12 31 2014 12 31 2003 20-F
3b-4 303A.11 303A.01 303A.03 2.7 303A.04 / 303A.07 303A.10 303A.12(a) 046 047
2014 2014 2014 55120 6732.8%
12164 121660,0008,000 201432.1820 14 200 2014ATD ATD(Association for Talent Development) 20142014 2015 2014 2014ATD 2014 048 049
30% 13%29% 5% 18 19 70129 43% 1.380 1.540 2.920 43%
55,987,02967,661,542 2014 12 3114 35 33 35 95 1214 XV 050 051
180,000 290,000 260,000 1,170,000 13.51(2)
352 XV 1 400,000 0.00% 300,000 0.00% 150,000 0.00% 20,438,426,514 352 052 053
10% 10% 1%1 (i) (ii) (iii)
154,000 2004 10 28 119,000 35,000 22.75 780,000 780,000 2005 11 8 34.87 154,000 2004 10 28 154,000 22.75 780,000 780,000 2005 11 8 34.87 82,575 2004 10 28 82,575 22.75 780,000 780,000 2005 11 8 34.87 82,600 2004 10 28 82,600 22.75 141,500 141,500 2005 11 8 34.87 400,000 400,000 2005 11 8 34.87 113,418,420 2004 10 28 2,259,113 111,159,307 22.75 475,000 2004 12 21 456,000 19,000 26.75 268,025,464 43,351,922 2005 11 8 224,673,542 34.87 46,233,422 a 054 055
(a) 0.23% (b) (c) 40% 30% 30% 40% 30% 30% 40% 30% 30% 2014 1 22014 10 27 22.75 76.54 2,529,670,484 111,194,307 2014 6 18 26.75 75.50 508,250 19,000 2014 1 32014 12 31 34.87 80.14 7,834,366,410 224,673,542
ASPIRE HOLDINGS LIMITEDASPIRE AspireAspire AspireAspire Aspire Aspire Aspire Aspire AspireAspireAspire AspireAspireAspireAspire Aspire AspireAspire Aspire 10% 10%Aspire Aspire Aspire1%Aspire Aspire1.00 AspireAspire (i) 0.298 (ii) Aspire / Aspire Aspire Aspire Aspire 20% Aspire10% (i) (ii)0.182 Aspire Aspire 056 057
1 Aspire (i) 50%aAspire AspireAspire b Aspire (ii) 50%50% Aspire AspireAspire Aspire* 725,000 2004 3 18 725,000 0.298 45,000 2004 5 28 45,000 0.298 * Aspire Aspire (1) Aspire (2) (a) 50% (i) (ii) Aspire (b) 50%50%
AspireAspire Aspire Aspire 770,000 Aspire Aspire AspireAspire (i) Aspire(ii)Aspire (iii) 70,000 4.55 058 059
5% (i) 14,890,116,842 72.85% (ii) 14,890,116,842 72.85% (iii) (BVI) (BVI) 14,890,116,842 72.85% (BVI) (BVI) 336
36 (1) 20 (2) 70 23 (3) 8 14.07 0.1% (4) TD-SCDMA 85TD-SCDMA 060 061
(5) IPGSMTD-SCDMA 50 12 (6) 146 14.07 0.1%
(1) 2014 2016 2014 20162014 2016 (2) 2014 20162014 20162014 2016 (3) (i)(ii) (iii) (iv)(v) (vi) (4) (i) (ii)(iii) (iv) (v) (vi) (5) (i) (ii)(iii) (iv) (v) (6) (i) (ii)(iii) (iv) 062 063
(1) (6) (i) (ii) (iii) 3000 (Hong Kong Standard on Assurance Engagements 3000) (Assurance Engagements Other Than Audits or Reviews of Historical Financial Information)(Practice Note) 740 Auditor s Letter on Continuing Connected Transactions under the Hong Kong Listing Rules14A.56 (A) (B) (C) (D) HKEx-GL73-14
33 130131 2 064 065
88 (1) (2) (3)
(i) (ii) (iii) (1) (2) (3) 066 067
2499 60 1.380 183 17 1712 1716 183 17 1712 1716
70 129 11 80 068 069
2014 12 31 2014 2013 4 581,817 590,811 59,631 39,366 641,448 630,177 21,083 18,727 23,389 25,998 116,225 104,699 5 36,830 34,376 75,781 91,834 74,464 61,363 6 176,342 157,531 524,114 494,528 117,334 135,649 7 1,089 910 16,149 15,289 8 (228) (331) 19 8,248 7,062 142,592 158,579 11(a) (33,187) (36,776) 109,405 121,803 / (169) (172) / 1,224 (767) 110,460 120,864
2014 12 31 2014 2013 109,279 121,692 126 111 109,405 121,803 110,334 120,754 126 110 110,460 120,864 13(a) 5.38 6.05 13(b) 5.35 5.98 7812935 b 070 071
2014 12 31 2014 2013 12 31 12 31 14(a) 564,795 479,227 15 93,341 85,000 16 24,855 19,735 17 35,300 36,894 766 1,063 19 70,444 53,940 20 20,507 17,401 21 8,731 6,816 22 127 127 818,866 700,203 23 9,130 9,152 24 16,340 13,907 25 14,398 11,649 25 15,344 11,832 26 112 94 702 647 27 2,000 21 695 28 352,118 374,977 29 66,744 44,931 477,583 467,189 30 223,503 173,157 674 1,360 31 62,615 61,789 32 134,725 125,811 26 4,271 22 68 68 6,020 8,706 431,876 370,913 45,707 96,276 864,573 796,479
2014 12 31 2014 2013 12 31 12 31 864,573 796,479 33 (4,992) (4,989) 31 (840) (662) 20 (98) (104) (5,930) (5,755) 858,643 790,724 35(c) 400,737 2,142 455,839 786,631 856,576 788,773 2,067 1,951 858,643 790,724 2015 3 19 78129 072 073
2014 12 31 2014 2013 12 31 12 31 14(b) 1 1 18 485,109 479,148 485,110 479,149 18 1,743 1,912 91 5 29 3,030 1,295 4,864 3,212 12 21 12 21 4,852 3,191 489,962 482,340 18 (4,992) (4,989) (4,992) (4,989) 484,970 477,351 35(c) 400,737 2,142 35(a) 84,233 475,209 484,970 477,351 2015 3 19 78129
2014 12 31 2013 1 1 2,142 387,183 (292,268) 72 (1,489) 211,610 416,197 723,447 1,862 725,309 2013 121,692 121,692 111 121,803 (767) (171) (938) (1) (939) / (767) (171) 121,692 120,754 110 120,864 35 bii (28,460) (28,460) (21) (28,481) 35 bi (27,031) (27,031) (27,031) 60 (17) 43 43 35 diii 24,139 (24,119) 20 20 1,060 (1,060) 2013 12 31 2,142 387,243 (293,052) 72 (600) 235,749 457,219 788,773 1,951 790,724 2014 1 1 2,142 387,243 (293,052) 72 (600) 235,749 457,219 788,773 1,951 790,724 2014 109,279 109,279 126 109,405 / 1,224 (169) 1,055 1,055 / 1,224 (169) 109,279 110,334 126 110,460 35 bii (26,044) (26,044) (10) (26,054) 35 bi (24,880) (24,880) (24,880) 35 ciii 9,279 2,073 (3,137) 8,215 8,215 35 diii 23,169 (22,991) 178 178 34 b (27) 27 35 cii 389,316 (389,316) 8 (8) 2014 12 31 400,737 (294,992) 72 (761) 258,918 492,602 856,576 2,067 858,643 78129 074 075
2014 12 31 2014 2013 142,592 158,579 116,225 104,699 6 106 78 16 406 385 6 (3) 6 2,093 2,074 6 5,494 5,084 6 293 202 (16,149) (15,289) 8 228 331 7 (34) (8,248) (7,062) / 81 (59) 18 6 1,594 244,715 249,003 (271) (2,156) (7,927) (7,273) (992) (148) (8,008) (2,189) / (18) 8 8,384 5,372 (144) (563) 1,160 4,129 8,914 22,041 / 4,249 (17) 250,062 268,207 (269) (26) (38,771) (43,196) 211,022 224,985
2014 12 31 2014 2013 211,022 224,985 (170,776) (138,997) (1,030) (1,044) (23) (355) 1 44 / 22,859 (42,980) (2,610) (1,398) 14,392 12,392 6 124 19 (9,508) (1,363) 19 2,476 2,062 34 (2,000) (146,219) (171,475) 35(c)(iii) 8,215 43 (225) (329) 35(b) (50,924) (55,491) (10) (21) (23,633) (42,944) (79,431) / 21,859 (25,921) 44,931 70,906 (46) (54) 29 66,744 44,931 2014 12 31119,172,000,0002013 98,992,000,000 78129 076 077
1 1997 9 3 99 60 1997 10 23 1997 10 22 2 (a) 622 11 76879 32 (b) 2014 12 31 40
2 (c) 2 j 078 079
2 (d) 2 j (e) (i) (ii) (ii)(i) 2 j
2 (f) 2 j (g) (h) 2 j 2 j 8 30 5 10 3 10 080 081
2 (i) (i) (ii) 2 h 2 j (iii) (j) (i)
2 (j) (i) 2 d2 jii 2 jii 082 083
2 (j) (ii)
2 (k) 2 j (l) (m) 2 j (n) 12 (o) 2 siv 084 085
2 (p) (q) (r) (s) (i) (ii) (iii) (iv) (t) (u)
2 (u) 086 087
2 (v) (w) (i) 5%30,0002014 625,000
2 (w) (ii) / 2014 3 334 cii (iii) (x) 088 089
2 (y) (z) (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) 2 za (vii) 2 zai
2 (aa) 5% 3 2014 1 1 / / 32 / 21 41 4 2014 2013 308,959 355,686 253,088 206,886 19,770 28,239 581,817 590,811 59,631 39,366 641,448 630,177 2014 4 29[2014]43 2014 6 1 [2014]4311% 6%2014 6 1 3% 5 2014 2013 31,740 30,066 5,090 4,310 36,830 34,376 090 091
6 2014 2013 52,450 46,059 5,494 5,084 17 1,594 293 202 106 78 12,471 10,784 (i) 4,755 3,808 (3) 2,093 2,074 (ii) 91 85 1 6 6 (iii) 96,989 89,353 176,342 157,531 (i) (ii) (iii) Sarbanes-Oxley Act 40420,000,0002013 18,000,000 7 2014 2013 507 405 34 582 471 8 1,089 910 2014 2013 5 104 228 227 228 331
9 2014 180 1,174 565 256 2,175 180 1,067 513 234 1,994 180 960 462 210 1,812 * 180 960 462 210 1,812 180 960 462 210 1,812 180 960 462 210 1,812 325 325 470 470 440 440 330 330 2,645 6,081 2,926 1,330 12,982 2013 180 1,174 634 287 2,275 180 1,067 577 263 2,087 180 960 520 237 1,897 180 960 520 237 1,897 180 960 520 236 1,896 180 960 520 236 1,896 399 399 458 458 440 440 ** 194 194 2,571 6,081 3,291 1,496 13,439 * 2015 3 19 ** 2013 5 30 092 093
10 11 20132014 12 319 (a) 2014 2013 (i) 106 167 (ii) 36,193 40,412 36,299 40,579 20 (iii) (3,112) (3,803) 33,187 36,776 (i) (ii) (iii) (iv) 2014 12 3116.5% 201316.5% 2014 12 3125% 201325% 15% 201315% 2009 4 22 2009 20092009 (b) 2014 2013 142,592 158,579 25% 35,648 39,645 (2,062) (1,766) (26) (31) 693 548 46 54 11 aii (1,329) (1,243) (107) (95) (9) 398 (74) (327) 33,187 36,776
12 2014 12 3150,328,000,0002013 67,682,000,00020132014 12 3135 a 13 (a) 109,279,000,0002013 121,692,000,000 20,293,253,516201320,101,232,387 2014 2013 1 1 20,102,539,665 20,100,340,600 190,713,851 891,787 20,293,253,516 20,101,232,387 (b) 109,279,000,0002013 121,692,000,000 20,408,441,343201320,343,120,320 2014 2013 20,293,253,516 20,101,232,387 115,187,827 241,887,933 20,408,441,343 20,343,120,320 094 095
14 (a) 2013 1 1 109,208 831,329 18,683 959,220 1,371 1,300 805 3,476 15,977 133,168 2,976 152,121 (125) (80) (205) (344) (37,962) (3,033) (41,339) (7) (76) (17) (100) 2013 12 31 126,205 927,634 19,334 1,073,173 2014 1 1 126,205 927,634 19,334 1,073,173 176 792 822 1,790 13,881 186,401 1,841 202,123 (7) (10) (17) (417) (40,237) (1,376) (42,030) 6 10 16 2014 12 31 139,851 1,074,593 20,611 1,235,055 2013 1 1 27,456 489,574 11,681 528,711 6,166 95,567 3,003 104,736 (120) (44) (164) (291) (36,272) (2,702) (39,265) (6) (59) (7) (72) 2013 12 31 33,325 548,690 11,931 593,946 2014 1 1 33,325 548,690 11,931 593,946 5,849 107,878 2,532 116,259 (7) (9) (16) (381) (38,291) (1,265) (39,937) 3 5 8 2014 12 31 38,796 618,275 13,189 670,260 2014 12 31 101,055 456,318 7,422 564,795 2013 12 31 92,880 378,944 7,403 479,227 2014 2,093,000,0002013 2,074,000,000
14 (b) 2013 1 112 312014 1 112 31 17 2013 1 1 15 1 2013 12 31 16 2014 1 1 16 2014 12 31 16 20132014 12 31 1 15 2014 2013 1 1 85,000 55,507 210,464 181,614 (202,123) (152,121) 12 31 93,341 85,000 2014 12 31 096 097
16 50 10 2014 12 31 406,000,0002013385,000,000 17 2014 2013 1 1 36,894 36,894 (1,594) 12 31 35,300 36,894 / 36 2014 12 31 35,300,000,0002013 35,300,000,000 2013 1,594,000,000 2019 12 31 2019 12 31 1.5% 2.4% 2019 12 31 1% 0.5% 12% 13% 2014 4G 4G 2014 12 311,594,000,000
18 / 2014 12 31 2013 12 31 480,137 474,176 4,972 4,972 485,109 479,148 / 2 2 wii 4,972,000,0002013 4,972,000,000 2014 12 31 2017 10 2833 * (BVI) BVI 1 100% ** 1,641,848,326 100% 5,594,840,700 100% 2,117,790,000 100% 2,800,000,000 100% 5,247,480,000 100% 4,367,733,641 100% 098 099
18 / * 643,000,000 100% 6,124,696,053 100% 6,038,667,706 100% 2,151,035,483 100% 4,314,668,600 100% 5,140,126,680 100% 6,341,851,146 100% 2,340,750,100 100% 4,099,495,494 100% 2,932,824,234 100% 3,029,645,401 100% 7,483,625,572 100% 3,961,279,556 100% 4,015,668,593 100%
18 / * 3,171,267,431 100% 2,773,448,313 100% 2,862,621,870 100% 3,277,579,314 100% 4,500,508,035 100% 2,541,981,749 100% 4,137,130,733 100% 848,643,686 100% 1,702,599,589 100% 902,564,911 100% 740,447,232 100% 2,581,599,600 100% 160,232,500 100% ** 30,000,000 100% 100 101
18 / * ** 7,633,000 100% Aspire Holdings Limited 93,964,583 66.41% Aspire (BVI) Limited # BVI 1,000 100% ** # 10,000,000 100% ** # 5,000,000 100% ** # 5,000,000 100% *** 3,800,000 51% GSM 900/1800 Advanced Roaming & Clearing House Limited BVI 2 100% Fit Best Limited BVI 1 100% 951,046,930 100% 10,500,000,000 100% 3,000,000,000 100%
18 / * 6,200,000,000 99.97% 5,000,000,000 92% ## 500,000,000 100% 600,000,000 100% 600,000,000 100% 50,000,000 100% * ** *** # 66.41% ## 8% 92% 102 103
19 2014 12 31 2013 12 31 3,954 66,490 53,940 70,444 53,940 30% 30% 40% 20% 2014 4 16 15% True Corporation Public Company Limited True Corporation 18%
19 True Corporation 2014285.755.1 True Corporation 4,429,427,0686.4518% True Corporation True CorporationTrue Corporation 2014 40 40.0% 2014 12 31 2014 12 31 20132014 12 31 2014 12 31 2013 12 31 4,195,924 3,680,125 3,932,639 3,472,898 263,285 207,227 245,209 204,375 20% 20% 49,042 40,875 10,512 11,673 59,554 52,548 104 105
19 True Corporation 2014 12 31 2013 12 31 2014 12 31 2,565 2,682 16,487 2,605 1,646 27,428 1,076 714 22,026 193 152 8,608 3,901 3,462 13,281 3,707 3,311 13,170 15% 15% 18% 556 497 2,371 876 895 3,133 1,432 1,392 5,504 True Corporation 2014 2013 2014 2013 2014 123,181 100,015 1,775 1,254 20,447 62,030 53,849 434 321 (129) 47,026 40,922 379 279 267 / 6,119 (3,835) 53,145 37,087 379 279 267 2,462 2,052 14 10
19 True Corporation 2014 12 31 2013 12 31 59,554 58,535 52,548 35,180 1,432 3,184 1,392 3,363 True Corporation 5,504 9,205 66,490 70,924 53,940 38,543 True Corporation 2014 12 312014 12 31 585.42013 12 31 351.81.7% 201333.1% 2019 12 31 20132014 12 31 20132014 12 31 20 2014 12 31 2013 12 31 12 4,639 4,453 12 15,868 12,948 20,507 17,401 12 (80) (90) 12 (18) (14) (98) (104) 106 107
20 2014 2014 2014 1 1 12 31 132 56 188 2,138 342 2,480 9,182 1,457 10,639 4,500 1,121 5,621 1,449 130 1,579 17,401 3,106 20,507 (104) 6 (98) 17,297 3,112 20,409 2013 2013 1 1 / 2013 12 31 97 35 132 1,635 503 2,138 7,084 2,098 9,182 3,420 1,080 4,500 1,308 141 1,449 13,544 3,857 17,401 (51) (54) 1 (104) 13,493 3,803 1 17,297
21 2014 12 31 2013 12 31 (i) 8,666 8,666 6,659 6,659 (ii) 65 695 760 157 157 8,731 695 9,426 6,816 6,816 (i) (ii) 20172018 22 2014 12 31 2013 12 31 127 127 23 2014 12 31 2013 12 31 SIM 8,194 6,632 936 2,520 9,130 9,152 108 109
24 (a) 2014 12 31 2013 12 31 30 9,963 8,316 3160 2,184 2,137 6190 1,161 1,149 90 3,032 2,305 16,340 13,907 90 (b) 2014 2013 1 1 5,984 5,274 5,630 5,174 (5,134) (4,464) 12 31 6,480 5,984
24 (c) 2014 12 31 2013 12 31 15,668 13,202 672 705 16,340 13,907 25 20132014 12 31 26 / 2014 12 31 110 111
27 2014 12 31 2013 12 31 (i) 2,000 (i) 2014 12 31 28 29 2014 12 31 2013 12 31 2014 12 31 2013 12 31 27,421 7,798 2,585 1,228 39,323 37,133 445 67 30 66,744 44,931 3,030 1,295 2014 12 31 2013 12 31 1 193,595 140,397 13 13,465 13,449 36 6,095 6,492 69 3,363 5,294 912 6,985 7,525 223,503 173,157
31 2014 2013 1 1 62,451 58,322 61,789 57,988 662 334 233,944 256,882 (232,940) (252,753) 12 31 63,455 62,451 (62,615) (61,789) 840 662 32 2014 12 31 2013 12 31 65,000 68,411 16,998 14,285 5,372 5,649 47,355 37,466 134,725 125,811 112 113
33 2014 12 31 2013 12 31 4,992 4,989 2014 12 315,000,000,000 4.5%100%2017 10 28 34 2002 6 24 1.00 10% 10% 2014 3 335 cii (i) 2014 3 335 cii (ii) (iii)
34 (a) 2014 2013 2004 10 28 473,175 40%1 30%2 30%3 10 2005 11 8 2,881,500 2,881,500 40%1 30%2 30%3 10 2004 10 28 113,418,420 40%1 30%2 30%3 10 2004 12 21 475,000 40%1 30%2 30%3 10 2005 11 8 43,351,922 268,025,464 40%1 30%2 30%3 10 46,233,422 385,273,559 114 115
34 (b) 2014 2013 1 1 31.28 385,273,559 31.24 387,811,349 30.86 (335,886,849) 24.55 (2,199,065) 23.33 (3,153,288) 30.39 (338,725) 12 31 34.87 46,233,422 31.28 385,273,559 12 31 34.87 46,233,422 31.28 385,273,559 79.40201384.73 2014 12 3134.87201322.7534.870.9 20131.5 20132014
35 (a) 2013 1 1 2,142 387,183 3,642 72 (1,060) 73,138 465,117 2013 67,682 67,682 67,682 67,682 35 bii (28,460) (28,460) 35 bi (27,031) (27,031) 60 (17) 43 1,060 (1,060) 2013 12 31 2,142 387,243 3,625 72 84,269 477,351 2014 1 1 2,142 387,243 3,625 72 84,269 477,351 2014 50,328 50,328 50,328 50,328 35 bii (26,044) (26,044) 35 bi (24,880) (24,880) 35 ciii 9,279 2,073 (3,137) 8,215 34 b (27) 27 35 cii 389,316 (389,316) 2014 12 31 400,737 461 72 83,700 484,970 2014 12 3183,772,000,0002013 84,341,000,000 116 117
35 (b) (i) 2014 2013 1.5401.222 20131.6961.351 24,880 27,031 1.3801.089 20131.6151.270 22,290 25,644 47,170 52,675 1 =0.788872014 12 31 2014 12 31 2009 10% (ii) 2014 2013 1.615 1.27020131.7781.442 26,044 28,460
35 (c) (i) 2014 2013 30,000,000,0000.1035 cii 3,000 2014 2013 1 1 20,102,539,665 2,010 2,142 20,100,340,600 2,010 2,142 35 ciii 335,886,849 11,004 9,279 2,199,065 35 cii 367,576 389,316 12 31 20,438,426,514 380,590 400,737 20,102,539,665 2,010 2,142 (ii) 2014 3 3622 62211 372014 3 3 (iii) 2014335,886,84910,365,000,000 8,215,000,000 2014 3 36,000,0005,000,0001,887,000,000 1,488,000,0002014 3 38,472,000,0006,722,000,000 2014 3 3 585,000,0002014 3 3 2,552,000,000 2 wii 118 119
35 (d) (i) 2014 3 3622 35 cii (ii) 2 wii 2001 1 1 295,665,000,000 (iii) 10% 50% 25% (iv) 2 y (e) 2014 12 310.6% 20130.8%
36 (a) 2620132014 12 31 14A 2014 2013 (i) 885 1,590 (i) 4,602 2,843 (ii) 803 808 (iii) 103 (iv) 216 241 (iv) 425 500 (v) 95 109 (v) 11,062 9,837 (v) 5,012 3,876 (vi) 481 494 (vi) 2,567 2,232 (i) / / (ii) / (iii) (BVI) (iv) / / (v) / / TD-SCDMA / 2008 12 29 TD-SCDMA2009 1 12009 12 31 60 TD-SCDMA (vi) / / 120 121
36 (b) / / / 2014 12 31 2013 12 31 1,037 1,162 5 6 146 109 5,693 4,036 309 145 (c) / 2014 12 31 2013 12 31 42,660 42,752 1,000 934 664 513 208 2014 2013 (i) 1,653 1,355 (ii) 127 84 (iii) 1,837 2,261 2,476 2,062 (i) (ii) / (iii) /
36 (d) 2636 a36 c19 / (e) 9 37 (a) 24 c 122 123
37 (b) 2014 12 31 223,503 223,503 223,503 674 674 674 134,725 134,725 134,725 4,271 4,340 4,340 4,992 5,635 225 5,410 68 71 71 368,233 368,948 363,538 5,410 2013 12 31 173,157 173,157 173,157 1,360 1,360 1,360 125,811 125,811 125,811 22 22 22 4,989 5,860 225 450 5,185 68 71 71 305,407 306,281 300,646 450 5,185
37 (b) 2014 12 31 12 12 12 4,992 5,635 225 5,410 5,004 5,647 237 5,410 2013 12 31 21 21 21 4,989 5,860 225 450 5,185 5,010 5,881 246 450 5,185 33 (c) 2014 12 31 50 2014 12 31428,288,000,0002013 426,724,000,0002014 16,149,000,0002013 15,289,000,0003.78% 20133.66% / 100 / 3,229,000,000 2013 3,213,000,000 (d) 1.4% 20130.8% 124 125
37 (e) 12 31 2014 12 31 2013 12 31 4,992 4,951 4,989 4,675 38 (a) 12 31 2014 2013 7,547 7,212 32,498 43,709 40,045 50,921 24,607 25,022 112,114 167,901 136,721 192,923 32,154 32,234 144,612 211,610 176,766 243,844 20132014 12 31
38 (b) 12 31 2014 12 31 1 9,733 9,291 1,043 20,067 8 15 18,882 3,822 1,361 24,065 5 5,853 953 69 6,875 34,468 14,066 2,473 51,007 8 2013 12 31 1 8,008 5,627 984 14,619 9 15 15,966 2,706 1,355 20,027 5 5 4,476 669 34 5,179 28,450 9,002 2,373 39,825 14 39 2014 35 bi 126 127
40 1736TD-SCDMA 17 19
41 2014 12 31 / 2014 12 31 / 19 2014 7 1 / 2010 2012 2014 7 1 / 2011 2013 2014 7 1 / 11 2016 1 1 / 16 2016 1 1 / 38 2016 1 1 / 10 2016 1 1 / 28 2016 1 1 / 27 2016 1 1 / 2012 2014 2016 1 1 / 15 2017 1 1 / 9 2018 1 1 6229 2014 3 3 358 6229 128 129
2014 2013 2012 2011 2010 581,817 590,811 560,413 527,999 485,231 59,631 39,366 21,422 9,807 7,512 641,448 630,177 581,835 537,806 492,743 21,083 18,727 9,909 5,188 3,897 23,389 25,998 25,140 23,533 21,886 116,225 104,699 100,848 97,113 86,230 36,830 34,376 31,256 28,672 24,524 75,781 91,834 80,232 78,636 74,361 74,464 61,363 41,448 23,120 20,506 176,342 157,531 140,272 127,686 108,249 524,114 494,528 429,105 383,948 339,653 117,334 135,649 152,730 153,858 153,090 1,089 910 615 571 685 16,149 15,289 12,661 8,413 5,658 (228) (331) (390) (565) (902) 8,248 7,062 5,685 4,306 558 (1) (1) (18) 142,592 158,579 171,300 166,582 159,071 (33,187) (36,776) (41,919) (40,603) (39,047) 109,405 121,803 129,381 125,979 120,024 / (169) (172) (6) (311) (135) / 1,224 (767) (16) (229) 110,460 120,864 129,359 125,439 119,889 109,279 121,692 129,274 125,870 119,640 126 111 107 109 384 109,405 121,803 129,381 125,979 120,024 110,334 120,754 129,252 125,332 119,505 126 110 107 107 384 110,460 120,864 129,359 125,439 119,889
2014 12 31 2013 12 31 2012 12 31 2011 12 31 2010 12 31 564,795 479,227 430,509 408,165 385,296 93,341 85,000 55,507 56,235 54,868 24,855 19,735 14,244 12,798 12,040 35,300 36,894 36,894 36,894 36,894 766 1,063 924 818 813 70,444 53,940 48,343 43,794 40,175 6 7 8 20,507 17,401 13,544 10,913 9,720 8,731 6,816 5,418 122 162 127 127 127 127 127 45,707 96,276 148,797 109,441 66,202 864,573 796,479 754,313 679,314 606,305 (4,992) (4,989) (28,619) (28,617) (28,615) (840) (662) (334) (261) (248) (98) (104) (51) (17) (39) 858,643 790,724 725,309 650,419 577,403 130 131
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