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China Mobile (0941) has warned of ``unprecedented challenges'' to earnings in the short to medium term as the world's largest carrier speeds up the building of a fourth- generation network in preparation for a boom in mobile internet use.文件倉 The warning came despite a better-than- expected 1.5 percent on-year growth in interim profit to 63.1 billion yuan (HK$80.04 billion), thanks to higher data income. Revenue rose 10.4 percent to 303 billion yuan, with data income rising 25.5 percent to 95.4 billion yuan, more than compensating for the 1.5-percent decline in voice business that brought in 170 billion yuan. But as China Mobile expands its network, asset costs such as depreciation will also rise, it said, warning it will ``face increased pressure on earnings for a considerable period.'' It plans to maintain a balance ``between the group's long term competitiveness and short- to medium-term operating results.'' Capital expenditure in the first half was o存倉ly 57 billion yuan, which accounted for 30 percent of its annual budget and made up 20 percent of service sales. Average revenue per user hit 66 yuan, up from 65 yuan earned in the first quarter. More than 50 million customers were added to its homegrown 3G network in the six months to June 30, while handset sales rose 1.5 times to 66 million sets. Earnings before interest, tax, depreciation and amortization, however, grew only 0.5 percent to 123.7 billion yuan, and the ebitda margin sank to 40.8 percent on competition, below the market consensus of 44 percent. A 43-percent payout ratio was maintained, with interim dividend at HK$1.70. Chairman Xi Guohua said talks are still on with Apple Inc to sell iPhones, with commercial and technical issues to be resolved. Deputy general manager Liu Aili said China Telecom (0728) seeks to rent its TD- LTE network, but a similar request from China Unicom (0762) has yet to come. victor.cheung@singtaonewscorp.com 自存倉