BOCI: Cuts China Mobile (00941.HK) target price to HK$93.04; VAT drag persists but AI computing power becomes new growth driver

ZHITONG FINANCE APP has learned that BOC International stated in a research report that China Mobile's (00941.HK) third-quarter profit fell 12.4% year-on-year to RMB 27.3 billion, while service revenue declined 5.1% to RMB 205 billion, mainly affected by the value-added tax rate increase starting in 2026; the bank lowered its target price from HK$96 to HK$93.04 and reiterated its "Buy" rating.