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China Mobile Limited (0941.HK)

HKSE - HKSE Delayed Price. Currency in HKD
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49.9000.000 (0.00%)
At close: 04:08PM HKT
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  • s
    sdl
    Today is the pay date of China Mobile shares dividend. Has anyone rec'd it - broker name.
    Thanks.
  • H
    HaveMyOpinion
    Can anyone summarize options available for CHL shares for USA citizens stuck in HK exchange? Fidelity is not saying anything but holding these shares. What is the final outcome?
  • N
    Nick P
    2.2 HKD half year dividend is payable on 27th September (ex dividend on 6th September). In future payout ratio will be increased to 70% (compared to current 50%) according to company information.
  • P
    Ptrn3
    Latest customer stats – About 54% of customers are on 5G.

    https://www.chinamobileltd.com/en/global/home.php

    The board of directors (the “Board”) of China Mobile Limited (the “Company”) announces
    the following customer statistics of the Company and its subsidiaries (the “Group”) for the
    month of July 2022:
    Unit: in thousands July 2022
    Mobile Business
    Total Customers 971,133
    Net Additional Customers for the Month 1,283
    Cumulative Net Additional Customers for the Year 14,241
    5G Package Customers 523,712
    Wireline Broadband Business
    Total Customers 258,255
    Net Additional Customers for the Month 2,198
    Cumulative Net Additional Customers for the Year 18,149.
    China Mobile Limited
    www.chinamobileltd.com
  • D
    Dennis
    The options for holders of China Mobile American Depository Shares (ADS) have seemingly become clearer.

    If you still own the ADS, you can convert it to HK shares by September 13. Based on the BNY Mellon document provided by NowUDonut (see Aussie thread), Mellon will facilitate conversion for a fee (see document). I expect that this option will be available through all brokers but you should verify with yours.

    If you do not convert the ADR to HK shares by September 13, Mellon will liquidate the shares sometime after September 13 and you will receive the net proceeds. I believe you don’t need to do anything but, again, verify this with your broker.

    So, sometime after September 13, China Mobile ADS will no longer exist. Anyone who hasn’t sold will own the HK shares. If you are not a US citizen, you can hold these for as long as you wish.
    If you are a US citizen, you must sell the shares by June 3, 2022. This is per the latest Executive Order (#13959, dated June 3, 2021). This deadline may be amended or revoked in the future.

    This is a duplicate link to the BNY Mellon document provided by NowUDonut
    https://www.adrbnymellon.com/files/al948081.pdf
    Good luck
  • E
    E.N.
    What will happen to investors and is this good or bad?
    1. No U.S. firm is allowed to trade in CHL after 11th of January, or own it after November 2021. This means that the ADR managers will have to liquidate. You can hold your shares in your account after January 11th, but you will not be able to sell them (there is no market for them). Your shares will be liquidated when the ADR holder liquidates their equivalent shares on the Hong Kong exchange and you will get the cash credit. When this will happen is not clear, but to reduce their risk, I would imagine that they will create you as soon as they liquidate. Obviously, the forced liquidation of a large (low double digits of the total share count) on the Hong Kong exchange will drive the price lower.
    2. Why is this happening? The U.S. administration has only one person who understands how markets work (Mnuchin) but the decision is in the hands of people who do not have a clear idea of the stock market mechanisms. Reportedly, Mnuchin was against this measure, and for good reasons. This will hurt the US and benefit China:
    - China Mobile got their money a long time ago. This measure will not hurt them really, because there will be enough buyers to take the shares especially after the new investment deal between the EU and China. EU investors will be happy to buy the shares at fire sale prices.
    - China Mobile can decide to do a buyback at fire sale price and reduce their dividend outlay.
    - The dividend flowing from China to the US shareholders and consequently into the US economy will stop. Not good for the USA.
    - The shares will be under pressure and they have been down in the last 2 years already. This will create substantial capital loss to US investors. This will translate to reduced tax revenues for the US in 2022 as people claim their losses on their taxable accounts.
    - Retirees will see their shares liquidated will not be able to find a replacement of the current dividend without taking a higher risk. Again, this is not good for sentiment or the US economy as a whole.
    - China will have more of the dividend flowing back to their economy
    The mentality behind this act is the same that hurt the soybean farmers two years ago, but unlike the farmers who got tax-payer funded bailout, the CHL U.S. investors will be left holding the bag.
    The two only recourses that the US investors have: 1- Go the court and argue that this executive order does not have the standing of a law, and is against the provisions of the constitution on private property. 2- Lobby the new administration to find a better way to fight the Chinese than this ineffective and ill-designed act.
  • c
    cj
    NEW YORK, January 4, 2021 – In light of further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control FAQ 857, available here, the New York Stock Exchange LLC (“NYSE”) announced today that NYSE Regulation no longer intends to move forward with the delisting action in relation to the three issuers enumerated below (the “Issuers”) which was announced on December 31, 2020.

    At this time, the Issuers will continue to be listed and traded on the NYSE. NYSE Regulation will continue to evaluate the applicability of Executive Order 13959 to these Issuers and their continued listing status.
  • D
    Dennis
    On June 3, 2021, President B signed an Executive Order amending E.O. 13959, which bans US investments in certain Chinese companies with alleged military links. The list has now expanded to 59 companies. The US government will undertake ongoing assessment to modify the list.

    US investors will now be prohibited from adding exposures to the listed 59 companies (including China Mobile) from August 2, 2021 onwards and can only divest positions in them up to June 3, 2022. No transactions will be allowed after June 3, 2022.

    Unwinding of existing positions is not mandatory for now: It is not clear how existing positions will be treated under the new E.O. after the divestment period terminates. Divestment was mandated under the amended E.O. 13959 signed by the former President back in January 2021. However, that version is revoked by the New E.O.

    The current scope of the E.O. only prohibits transactions; it does not explicitly ban possession of investments to the extent that the positions are in place before the relevant deadlines.
  • C
    Celia
    Honestly, I wont listen to those spread fears, scare-mongering and untrue claims below.

    This is strong company, they will see through the 1-to-5 conversion.

    Simple maths. If HK0941 tomorrow goes to HK$50, then x5 = HK$250, and adr CHL says usd $25 - with 7.7 rate = HK$192. Buying which side is more worth? Obviously, it hold the price here with the buying demands.

    Moreover, thanks for this "delist" news, investors focus on HK0941 will push the price there further up presenting a upward swing. Great opportunity for non-US players to pick on this and make conversion.

    Besides, the implication of not allow this will strongly damage the confidence of other foreign companies trying to enlist in the USA... think bigger picture, think!
  • s
    sdl
    Anyone has information to share regarding how to obtain OFAC license to transfer and sell China Mobile shares. TD Ameritrade is asking forOFAC license before they can transfer shares to another broker. Thanks
  • Z
    ZHENG
    Meeting minutes version 1 base on our online conversation in this forum.

    Objective: Following the “executive order”, to dissolve shares of CHL in a dignity and humane way without our hard-earned money being fully robbed by white collar criminals.

    Status report and what we know so far:

    1. For victims in TD Ameritrade (TD-A), we are on track of being robbed 100% of our original investment on CHL.

    2. For victims in Charles Schwab (CS), the CHL can be successfully converted to “CHL.KF” by CS Global branch, the price and stock amount shown CS account are CHL’s original stock (1:5) Hong Kong 0941 (HK0941) price with currency converted to US dollar. However, victims are told that the “CHL.KF” cannot be sold and “CHL.KF” has limited and uncertain available holding time in CS. Victim then requested CS to convert “CHL.KF” to stock certificate paper of HK0941. CS said they are trying without any result, so “CHL.KF” is just like a fake CHL so far.

    3. Victim requested TD-A to convert CHL to its HK0941 stock certificate. TD-A tried but stopped by DTCC (Depository Trust & Clearing Corporation). DTCC chilled their basic clearing responsibility with reason of “executive order” without publicly announce their decision making process. DTCC is so far the obvious perpetrator of either trying to steal or assist others to steal our Americian’s hard earn American money.

    4. BNY Mellon Bank shred their custodian responsibility to Australian firm ComputerShare. So conversion from CHL to its original HK0941 must go through ComputerShare, not BNY Mellon Bank. We are dealing with ComputerShare not BNY Mellon Bank with middleman DTCC.

    5. Victims from Fidelity Investment (FI) reported successful conversion from CHL to HK0941? And promised freedom to liquidate then wanted? However this benefit only limited to FI. FI does not accept any transfered CHL shares from other brokers.

    6. Victims reported some success in transfering full account containing CHL form other brokers to Interactive Brokers (IB) via ACAT (Automated Customer Account Transfer Service) and IB promised conversion from CHL to HK0941 and freedom to liquidate then wanted. However some victims reported that IB does not accept CHL transfer in. This process, if confirmed successful is already the most humane treatment to us.

    7. Victims proposed class action law sue against DTCC, persons or organizations that caused or performed the political persecution. Victims want to sue for full amount of the original CHL investment money and the law firm need to get paid via penalty from the criminals not from victims. However such a good law firm is no where to be found yet.

    8. To complain that we have been politically persecuted to be on track of losing some or all of our American money: Contact our Senators and let them know
    https://www.senate.gov/senators/senators-contact.htm and/or complain to SEC at https://www.sec.gov/oiea/Complaint.html

    Note: This meeting minute is based on our online conversations. The author welcomes victim’s comments, updates and corrections if the descriptions do not accurately reflect the facts. However there is no guarantee that this memo can agree or fit every victim’s perceptive reality. This meeting minute will be updated from time-to-time when useful information are available.
    U.S. Senate: Contacting U.S. Senators
    www.senate.gov
  • D
    Dennis
    Unless someone tells me to do otherwise, I plan to hold my CHL ADR shares for a while longer. It is possible that President Biden reverses this executive order or that the Treasury and NYSE modify the “rules” prior to Nov 11.

    After Nov 11, US citizens may not be able to own either the ADR (trading OTC) or the shares trading in Hong Kong. At some point, we will need to understand what will happen to those with the ADRs in their brokerage account. If it’s a forced liquidation, process and fees must be pre-set.
    This is not a typical NYSE de-listing, which leaves a stock with little or no liquidity on the OTC market, often as a prelude to bankruptcy. China Mobile is a thriving company whose shares trade actively, mostly in Hong Kong. I think the executive order hurts only US citizens and, for non-US citizens, creates a wonderful buying opportunity.

    I think those, like Rachel, who are now converting their ADRs to Hong Kong shares may be the most prudent, and I may eventually go that route. I don’t see a need to completely divest quickly, as the negative impact of the US decision may be done, if not also overdone. Of course, I don’t really know … and there is some value to putting this fiasco behind you.

    Finally, as many on this page have noted, some brokers have very limited ability regarding foreign listings. I encourage all to note any related correspondence or, if none, to call their account managers.
  • P
    Paul
    So frustrated. I sold for a loss yesterday just before 4pm. I tried to journal over to 0941 on the Hong Kong Exchange but questrade could not journal the shares. I also received a margin warning from questrade yesterday as they would no long support buying CHL on margin. Gave me until 1pm today to resolve my margin requirements which I could not do without selling the position. Spent all day looking into what my options were. My plan was to sell and buy directly on the HK exchange with a different broker. Then of course as I always anticipated last night came the news I was expecting its not getting delisted. Of course I cannot buy the shares back because according to questrade BNY Mellon hasnt opening it up to trading yet. FML. Not a huge loss ($400) as I bought low, just frustrating and there is seemingly nothing I can do. If it wasnt for questrade changes on the margin requirements I would have simply held. I just want back in, @ this price its still a steal of a lifetime.
  • M
    Mikael
    It's time for Bank Of New York to delete the ADR and convert to HK shares.
    The Banks needs to simply log the HK stock that they are sitting on to respective brokers
    who can then log the HK stock to the respective owners.
    A broker doesn't need a trading agreement with Hong Kong to log a share to a person or a Company.
    Trading and ownership fall under different laws and policies.
    The total value is around 1B US Dollars and isn't a big deal for the markets or the Bank
    but is a BIG DEAL for small investors who are currently stuck.
    Bank Of New York. Wake Up and honor the ADR contract.
    Waiting until it's time for a forced sale is not part of the initial ADR contract in any way
    and will merit yet another class action lawsuit against the Bank.
  • K
    Kodvawala
    I own CHL thru TD Ameritrade. Initially I thought I will be able to convert my positions to HK listing and at the end of the day sell it at loss or profit. But now come to find out that TD wont convert my shares. They stop doing that. They want me to take the ADRs out by end of August but I have no way of doing that because I have not found any institute that will take ADRs of CHL. So what are my options.
    Talking to an agent at TD got me real worried when she said that TD Ameritrade will just remove my shares and I will take complete loss. It does not make sense. Anyone here can shed any light into this. I know this is not something most people have experience with so it is will be opinion. Need to figure out how to deal with this.
  • g
    george
    Just giving back to this message board after struggling through the Executive Order and seeing some light. We had thousands of shares of CHL in TDA and were really stuck. We opened an account with IB then we funded it with an ACAT transfer of the CHL shares from TDA plus $1000 just to cover what we knew would be fees. Once the shares were in IB we initiated what they call a Conversion of the ADR to HK:941. There was a fixed fee of $500US plus $180 as a percent of the total. After a few days, the 941 finally appeared and is now valued at 20% higher than CHL (thanks Prior Administration! Not!). We still don't know if there will be any foreign exchange fees in selling the position before Nov 11...as you know there is no buying allowed. IB's commission and China's taxes on the sale will be 0.2%. We also still don't know how any dividends will be credited.

    Now it may be that we didn't need to pay the Conversion fee, one would think that at some point BNY Mellon will have to convert. Oh well.

    Good luck to us all.
  • J
    John S
  • S
    Sunil
    Any guess how many individual investors are trapped with ADR's that they can't sell under the current situation? I emailed the office of Investor Advocate at SEC, apprising him of the problem, and requesting for help in finding a solution for existing investors. I encourage others to write him as well. Email add: InvestorAdvocate@sec.gov
  • C
    Carl
    CRYPTO AND FOREX TRADE IS MOST PROFITABLE INVESTMENT ONLINE IF ONLY YOU TRADE WITH A GOOD BROKER OR PROFESSIONAL TRADER ..I TRADE WITH MRS MELISSA VALDEZ AND ITS BEEN THE BEST DECISION EVER
  • R
    Rachel
    For those who have accounts at Fidelity and are seeking to divest, I've now been told Fidelity will allow CHL ADR holders to convert to ordinary shares and sell in HK. There are a number of fees involved, but at least it's a way to divest. I've started the conversion process, which Fidelity says will take about 2 weeks and then will sell on the HK exchange.
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