Operator: Good afternoon, ladies and gentlemen. Welcome to China Mobile Limited's 2013 interim results announcement briefing. In today's briefing, our company management will first present the overall result and then take questions from the audience. First of all, let me introduce the senior management attending today's briefing: Executive Director and Chairman, Mr. Xi Guohua; Executive Director and CEO, Mr. Li Yue; Executive Director, Vice President and CFO, Mr. Xue Taohai.; Executive Director and Vice President, Mr. Sha Yuejia; Executive Director and Vice President, Mr. Liu Aili. Now I would like to give word to Chairman Xi to present the interim results for 2014.

Guohua Xi: Good afternoon, ladies and gentlemen. Welcome to our 2013 interim results announcement briefing. Today's presentation is divided into 3 parts. I will present the overall performance for the first half of 2013, then Mr. Li will talk about the operating performance. Finally, Mr. Xue will walk you through the financial results. Let me walk you through the company's overall performance for the first half of 2013. In the first half of 2013, the company overcame various difficulties and faired serious challenges. We actively transformed strategies and promoted innovation to continuously enhance our strategy implementation capabilities, leveraging our advantages and even quality service. Our operating performance remained steady. Operating revenue, up 10.4%. Revenue from telecommunications service, up 6.8%. Net profit margin at 20.8%. Total customers exceed 740 million. Total voice usage up 3.7%. Data business developed fast, with revenue up to 33.5% from telecommunication services. Wireless data traffic business has been a strong impetus. Revenue grew by 62.2%. As 3G development accelerates, our customer base surpassed 137 million in the voice sales sold. TD-LTE development has been encouraging. The company is actively preparing for 4G commercialization, whilst trying to create value for our shareholders. Our interim dividend for 2013 is HKD 1.696 per share. Here are the key operating data for the first half of 2013. Performance remains steady. In the first half of 2013, the slowing of the Chinese economy, coupled with rising penetration, have impacted the development of the information and communications industry. Competition have become more compassed [ph]. OTT headwinds have been increasingly notable. Fierce line grab among operators for existing business continued. All this have put the company in an unprecedentedly challenging situation. Against the backdrop of strategic transformation, there emerged an increased requirement for resources. The company's medium- to long-term earnings will be under more pressure. However, we do see broad outlook in information service in China. The government introduced measures to increase spending of information service of late. The accelerating proliferation of smartphones has provoked rapid growth of data traffic and applications, which have become the key impetus to fill the company's revenue growth. Meanwhile, TD-LTE obtained a strong support from the supply chain, imminent commercialization awaits, bringing advantage and opportunities to the company's development. To capture opportunities and to render challenges, the company jazzed up to pursue Four-Network Coordination, full service and mobile Internet, and effort to transform our strategies, change and [indiscernible]. We focus on enhancing network and in marketing capabilities, whereas, measures have achieved encouraging progress. The company is fully confident about its future. In the first half of 2013, 3G development accelerated. Total customers exceed 137 million, with rising proportion using smartphones. The company actively drove construction and usage of the 3G network. Base stations reached 361,000. Network utilization increased to 25%. Competitiveness of device was enhanced [indiscernible], with more diverse models available. But opening up the social channel, devices sold was approximately 66 million TD handsets sold across all channels of the company in the first half of 2013, over 90% of which were smartphones. Moreover, our self-brand device have taken substantive steps for -- in R&D. Two TD smartphone models were developed in the first batch. The company is actively preparing for TD-LTE commercialization. This year, we'll build over 200,000 base stations, with contiguous network coverage in the main districts of 100 major cities. Some other cities will re-unearth data hotspot coverage in the main district. Regarding device, 28nm multi-mode, multi-frequency TD-LTE smartphones have been launched, indicating the event of device maturity. Planned procurement is over 1 million TD-LTE device this year. In addition, the company is actively promoting VoLTE as device solution, propelled by the development of the industry. 18 commercial networks have been launched worldwide. Scale commercialization of TD-LTE is underway across the globe. Aiming for quality and differentiation, the company prioritized return to fair full-service competition. We adopted a long-term and scientific approach to planning. The company endeavors to excel in backbone transmission and the construction of metropolitan area networks. We actively drove the construction of public Internet, expedited IDC development, introduced hotspot resources and uplifted on-net traffic. The overall bearer costs were reduced. We developed broadband access targeting corporate customers to provide customized offerings and aimed for return. In the first half of 2013 various infrastructure results capabilities were significantly enhanced. The company has been investing for long-term development and adopted a forward-looking approach to capital spending and focused on return. CapEx for the first half amounted to RMB 57 billion. We have continued to pursue the Four-Network Coordination strategy to achieve a balanced development in network capabilities, for more basic resource accumulation to enhance overall transmission network capability. We will step up efforts in the development of Mobile Internet, Internet of Things to foster new growth drivers. We will continue to promote centralization of support systems and reasonably control the direction and pace of property construction. To fulfill the requirements of the National Audit Office and to re-unearth the unified obligation spending responsibilities, growth and benefits of being an investing and operating entity. Starting from 2013, the list the company will assume investment and operation of the new Village Connected Project. In 5 years, assets of the project were invested by the parent company, from which the list of company had less to operate. Looking to the future, we will continue to transform and innovate. We are set out to bolster sustainable and healthy environment and to secure value to our shareholders. With this, I would now like to invite Mr. Li to talk about the company's operating performance.

Yue Li: Thank you, Chairman Xi. I'm delighted to present the company's operating performance for the first half of 2013. The first half of 2013 continued to see adverse challenges in the company's development. The company achieved positive results by overcoming various difficulties and challenges, continuously enhancing quality and improving services. We drove entrepreneurship and promote internal innovation. But the best quality is [indiscernible] are telecommunications company and customers is our priority. Quality service is our principle. We focused on improving quality and service. Voice quality and customer satisfaction maintained a leading position. Customer complaints remained lowest in that industry. We continue to promote entrepreneurship and innovation. We established a professional company for Internet of Things and launched regional logistics centers in North China area, Southwestern and Northwestern China. Wireless City has a common platform, which provides consistent display nationwide. We pursued further development in location-based service, voice recognition payment and cloud service. Our management wants to further enhance full centralization, professional operations market-oriented mechanisms, Lean organizations structure and standardization of process. In the first half of 2013, the company maintained its advantage in the customer scale, which totaled over 740 million. Customers are direct to migrate to 3G intensified market competition. The company's market share net additions in particular continued to slide, yet maintaining a leading position. The company has snapped up operations of existing customers to secure retention and value enhancement benefited from the continuous improvement of quality and service. Mid- to high-end customer base remained stable. Meanwhile, we strive to develop the corporate customer business by enhancing market competitiveness and to drive scale. Due to substitution by Internet business, voice services revenue amounted up to RMB 175.1 billion. Total voice usage approximated 2.13 trillion minutes in the first half of 2013. Revenue declined, and voice business is experiencing increasing pressure. The company continued to enforce management of voice usage, leveraging advantages in quality and service. We strive to stabilize the voice business. We also exploited the demand for long-distance calls, roaming, offpeak calling and in-group calling to further stimulate voice usage. In the first half of 2013, data business maintained its rapid development, with revenue reaching RMB 95.4 billion, up 25.5% and accounted for 33.5% revenue from telecommunications service. While strengthening data traffic management, the company also developed applications and information services and launched a series of new featured portals. 12585 location-based service was commercialized across network. Then you see accumulated -- the only 20 million customer usage, representing Mobile Wallet NFC, which is a mobile payment product, was commercialized for that network. SMS and MMS revenues lived 5.5%. The company actively developed corporate SMS and MMS to deter the revenue [indiscernible]. Facing adverse challenges, the company continued to transform from voice-only to operating voice, plus data traffic, plus applications, striving to establish a revenue structure, which supports sustainable growth. And now various measures. In the first half of 2013, we promoted the decoupling of voice plus data traffic, plus data services and enabled customers to customize their tariff plans. Results were favorable. As smartphones proliferate, the company's wireless data traffic business hiked. Data traffic was up 129%. Revenue grew 62.2% to reach RMB 47.4 billion, representing 16.6% revenue from telecommunications service and has become the key impetus for revenue growth. The company's strength in data traffic management enhanced the scale and value of data traffic operations. We actively developed a TD smart device and drove scale enhancement of data traffic. We endeavored to put/add value data of traffic for stringent control over data traffic tariffs to prevent plummets. The traffic loading structure has been optimized to divert traffic towards low-cost networks. In the first half of 2013, the loading of WLAN 3G and 2G were 75%, 6.6% and 18.4% respectively. New business development is an important initiative in proactively driving the operation of data traffic. It's also a major source of revenue for future service. All new business grew rapidly in the first half of 2013. In terms of new business development, the company accelerates in making inroads in deploying intelligent voice, payment and personal cloud, et cetera. We have strengthened the promotion of content and import the business optimized functionality, lowered usage thresholds and enhanced convenience of use, which broadened the scale and margin advantage of a mature business, such as mobile music and mobile paper to further the value. Meanwhile, we've promoted the low-cost scale growth of Internet of Things for centralization and standardization of network and products. Smart device are vital to the development of new business. It can accelerate adjustment of the business structure. The company boost the smartphone sales by transforming its sales outlets, expanding social channels, decoupling contracts and device models et cetera to drive new business development and growth of data traffic. The company continue to pursue Four-Network Coordination strategy. We strictly controlled 2G investments, focusing on network optimization. We operated to the constructor of the 3G network to exploit worthy of the existing network and enhance utilization. Regarding WLAN. We continue to optimize automatic authentication and design segmented packages to strengthen its marketing. We fully utilized our existing networks and have reached WLAN advantage as a low-cost bearer to effectively diverse data traffic. TD-LTE earned extensive support from the government and industry on the foundation of the 20,000 base stations constructed for the scale trial last year. We tried to build 200,000 base stations and to procure 1 million device this year. The company is actively preparing for the commercialization of TD-LTE. Professional operations is an important imperative of the company's future development. The company stepped up its efforts and established a professional operations system, which has started to take shape. Regarding device product competitiveness continue to improve, while the supply chain is expanding. Device sales leapfrogged. The trend to launch products at equitable schedule, quality and price is formed. The company has debuted self-brand products. Internationally, the company endeavored rapid construction of networks and pep loss [ph] was late-mover advantage to offer a competitive portals and service. Cost of international business reduced substantially. In the first half of 2013, financial reducing 1-, 2- and 3-year international roaming zone tariff. Consumer tariff was mashed [ph]. More customer production searched. The company will continue its efforts to pursue professional operations in other areas. The company proactively fulfilled its cap ratio to show responsibility. Regarding energy conservation and emissions reduction, we promoted mature technologies and innovated on energy-saving applications. We researched our inference in driving the [indiscernible] to conserve energy and reduce emissions, achieving remarkable results. For various energy-saving measures the company aims to reduce power consumption per unit of business by 15% this year. Currently, the company is experiencing a precedent to try and just -- the ever rising penetration rates has reached 87%, which impacts the market. It's approaching saturation. Due to intense market competition, the company's customer and revenue market shares and incremental shares are already kind of varying intensity. New additional revenue share from telecommunications service has lift almost to 1/3. Meanwhile, 1/3 of our OTT substitution business, such as voice, SMS and MMS are settled. We believe there are both challenges and opportunities ahead of us. With the advent of mobile internet, information service have penetrated everyone's lives and, of course, various industries. Mobile changes now is becoming a reality, an information service in short of supply. From the network perspective, TD-LTE is entering a new stage of commercial deployment as scale development. Regarding device, smartphone proliferation is accelerating and has become the most prominent Internet SS device depicting immense prospect. China Mobile will capitalize on opportunities, fair challenges and focus on providing service. We both promote management of existing business data traffic, corporate customers and new business development. We will move fast and our structures promotes entrepreneurship and innovation to establish revenue and organization structures, which will support future development. The company endeavors to become a world-class service enterprise and to achieve sustainable and healthy development. Next Mr. Xue will give a review of the company's financial performance.

Taohai Xue: Thank you, Mr. Li. Now I will go through the interim financial results review. In the first half of 2013, faced with various challenges arising from the third increase in mobile penetration rates in mainland China, the increasingly complicated -- intensified competition, the telecommunications market, to more apparent heterogenous substitution from Internet business. The company proactively responds to various challenges, focused on enhancement of network quality and service, accelerates the strategic transformation, a hedge to reply required management, strived for competitive advantage from differentiation, further consolidated customer base and realized a stable growth in both business and operating results. Driven by stable growth of telecommunications service, revenue and breakthrough of revenue from terminal sales, the operating revenue reached RMB 303.1 billion in the first half of 2013. Our revenue continued to grow steadily. The company persistive of the refi-ed rational rate and rational cost control principles, continuously optimized results application, promote management innovations, enhance the company's overall operation efficiency and maintained favorable profitability. In the first half of 2013, our EBITDA margin reached 40.8%. Net profit margin reached 20.8%. Profit margin maintained a data position in the telecommunications industry. Favorable, sustained and long-term profitability demonstrates our confidence and capabilities in creating value for our shareholders. We have adhered to our prudent financial principles and a strict fund management system. To further secure the safe custody of this cash and have the efficiency of fund usage and reduced cost of capital, the company strengthened, centralized fund management, and the returns were greatly enhanced. The company ensured that the safety and integrity for the highly centralized management of corporate investment and financing and strict control of its investments. In the first half of 2013, the company's net cash generated from operating activities, and free cash flow were RMB 125.2 billion and RMB 68.2 billion, respectively. Steady fund management and sufficient cash flow not only supported the company's strategy transformation and its sustainable healthy growth, it also continuously creates value and return for our shareholders. Despite the revenue of voice services record a decline, it remained our major revenue contributor, accounting for 61.5% of revenue from telecommunications service. Data service revenue grew rapidly and as contribution to revenue's getting more and more obvious. In the first half of 2013, data service revenue represents 33.5% of the communication service revenue. Key data business, including Wireless Data Traffic, IP-VPN lines, Mobile Reading, Mobile Video, Mobile Gaming, achieved revenue growth. Revenue composition of telecommunications service was continuously optimized for widening support for continuous revenue growth in the future. In order to continuously strengthen our leading market position to telecom industry and strive to enhance our future business sustainability, the company continue to uphold its principles of forward-looking planning, effective results allocation, rational investment and refund management. The company continue to implement benchmark, close management, divide the cost control unit, allocate cost conservation and optimization culture, strictly controlled administrative expenses and strive to optimize cost structure. The percentage of operating expenses over operating revenue was 76.4%. As of the end of June this year, our total debt to book capitalization ratio was 3.8%, reflecting a solid capital structure. In conclusion, facing these opportunities and challenges, the company, in average, is advantageous of a huge customer scale, excellent network quality, quality customer service and refined cost control measures to achieve stable growth in our financial performance. Revenue of our financial strength and solid capital structure provide us the visibility to cope with intensified market competition, capture future development opportunities and continuously create value for shareholders. This is the end of our presentation analysis on our 2013 interim results. For more details, including data and information, including the financial statements, please refer to the appendix. Now we are now ready to take your questions. Thank you.