Group 1 - The Ministry of Industry and Information Technology (MIIT) is set to issue "satellite internet" licenses, which has generated significant interest and inquiries among the public [2] - A business license is a legal permit issued by the government or regulatory bodies that allows organizations or individuals to conduct specific commercial activities, ensuring market access and compliance with regulations [3] - The MIIT's role includes issuing licenses for telecommunications and internet services, ensuring that companies have the necessary technical capabilities and compliance qualifications to operate legally [3] Group 2 - The upcoming satellite internet licenses are expected to fill gaps in existing licenses for China Unicom and China Mobile, allowing them to legally conduct satellite-based mobile services [6] - Companies like Xingwang and Yuanshin are likely to obtain A13-1/2 operational licenses, which would significantly benefit their business development, especially for Yuanshin's focus on satellite internet services along the Belt and Road countries [6] - The rapid deployment of China's satellite constellation, particularly by Xingwang, is anticipated to enhance the country's satellite internet capabilities, with the issuance of operational licenses expected to accelerate the development of this sector [7][8]

它是全球首个规模最大的400G全光省际骨干网，预计能拉动GDP增长超126亿元。 不仅这一项，此次算力大会上，一共公布了十个我国在算力产业的重大突破！ 其中既有核心底层技术突破，也有生态解决方案。既能"打好地基"，还能"盖好房子"。 （原标题：卡不住我们！中国算力省电省钱十大绝招，个个硬核） 21世纪经济报道记者 骆轶琪 实习生 唐娜斯 完成1000亿亿次计算需要多久？ 如果让全球80亿人，每人手持一个计算器，全年不吃不睡，每秒按1次，大约需要4年。 而中国的答案是——1秒钟。 这是2025中国算力大会上公布的重大突破之一：中国移动牵头研发的"九州"算力光网，把算力提升到10 EFLOPS，也就是1秒钟完成1000亿亿次浮点运算。 山西秦能的算电协同一体化平台，让数据中心不再是"电老虎"，一年能省电费1000万元，减少碳排放十 万吨。 超聚变的FusionOne AI一体化行业解决方案，让AI基础应用小时级上线，真正"开箱即用"，已落地500 多个项目。 华为研发的"在网计算加速技术"，是智算集群通信效率提升的关键突破，让模型训练推理更省时省钱。 中国电信面向分布式大模型的"广域智算无损组网技术"，让远距离的 ...

证券日报网讯 思特奇8月26日在互动平台回答投资者提问时表示，公司与中国移动、中国联通、中国电 信长期保持稳定的传统业务合作关系，为其提供IT系统架构及业务运营支撑服务。相关信息敬请关注公 司官方网站及相关公告。 （编辑 王雪儿） ...

8 月 1 日，针对用类似的乱象，三大运营商表示将统一外呼营销号码，确保用户能够准确识别正规营销 渠道。今后，中国电信、中国移动和中国联通开展电话营销时，将分别使用各自的官方号码 10001、 10085 和 10016 进行推销行为。 三大运营商的统一表态，也从侧面表明了这类电话营销乱象确实存在，华东政法大学经济法学院的公益 维权组织 FRUTE TEAM 向知危表示：" 话费是每个人的必要消费，我们做这方面公益维权的过程中， 发现关于消费者在这方面的相关法律咨询很多，主要分为话费扣款问题、自定义充值问题等等。" 在消 费者服务平台黑猫投诉上，和关键词 " 话费套餐 " 相关的投诉高达65000多条。 但，从表态到现在一个月过去了，这种现象还是层出不穷。 " 你好，这边是 xx 营业厅的，我们这边看到您每个月的话费消费达标，是我们这里的优质客户，这边 可以帮您免费升级套餐......" 不少人都猝不及防地接到过某个私人号码莫名打过来的 " 免费升级 " 套餐的电话，这套话术听起来像是 " 回馈老用户 " 的一波福利，然而当你真正" 免费 " 升级套餐之后才会发现里面没有福利，全是套路。 一位广东的用户对知危 ...

Investment Strategy - Concerns over Nvidia's security may accelerate the replacement of domestic chips, creating a vacuum in the supply of computing chips in China. Recent advancements in domestic computing cards are expected to drive rapid development in the related industry chain. Nvidia's H20 computing chip has been reported to have serious security issues, which could negatively impact its future orders in the Chinese market. In 2024, over 50% of the data center accelerator cards in China are expected to be inference cards, with domestic computing cards projected to account for over 40% by the first half of 2025. The domestic accelerated computing server market is expected to grow by 97.3% year-on-year in 2024 and by 52.9% in 2025 [10][12][13] - The release of DeepSeek-V3.1 is expected to enhance the usability of domestic computing cards in large model applications. The V3.1 version supports UE8M0 FP8 precision, which significantly reduces storage and improves computational throughput compared to traditional FP16 and FP32 formats. This advancement is anticipated to lead to a qualitative leap in the application of domestic computing cards [11][14] - The demand for computing infrastructure from operators and cloud vendors is clear, with capital expenditures expected to increase in the second half of the year. The three major operators reported good growth in computing-related business revenues, with China Telecom's cloud service revenue at 57.3 billion yuan, China Unicom's at 37.6 billion yuan, and China Mobile's at 56.1 billion yuan. Capital expenditures for the first half of 2025 are projected to be 494 billion yuan for China Telecom, 348 billion yuan for China Unicom, and 928 billion yuan for China Mobile, accounting for 59.1%, 63.3%, and 61.4% of their annual expenditures respectively [12][13][18] Industry News - The successful launch of the low-orbit satellite internet 09 group marks a significant step in China's satellite internet development, with the country entering a high-density launch phase. This mission was the 590th flight of the Long March series of rockets, and it is expected to enhance the satellite internet network [15][16] - The budget for the 2025 rocket launch service procurement project by Shanghai Yuanxin Satellite Technology Co., Ltd. is approximately 1.336 billion yuan, with a focus on launching 94 satellites across seven missions. This indicates a growing emphasis on satellite internet and commercial space development in China [16][17] - Capital expenditures by the three major operators in the first half of 2025 were the lowest in recent years, totaling 112.8 billion yuan, a decrease of 16.5% year-on-year. However, there is an expectation of increased investment in AI and computing infrastructure in the second half of the year, which could significantly boost the domestic computing chain [18][19] Weekly Review and Focus - The communication sector saw a significant increase of 10.47% this week, outperforming major indices. The IDC and optical module sectors continued to lead gains, with increases of 14.59% and 14.41% respectively. The overall performance of the communication sector suggests strong investment opportunities in domestic computing chains and satellite internet [19][20]

8月25日，中国电信涨0.92%，成交额13.68亿元。两融数据显示，当日中国电信获融资买入额9856.45万 元，融资偿还8785.68万元，融资净买入1070.77万元。截至8月25日，中国电信融资融券余额合计8.42亿 元。 截至6月30日，中国电信股东户数22.28万，较上期减少7.09%；人均流通股0股，较上期增加0.00%。 2025年1月-6月，中国电信实现营业收入2694.22亿元，同比增长1.30%；归母净利润230.17亿元，同比增 长5.53%。 分红方面，中国电信A股上市后累计派现786.05亿元。近三年，累计派现630.48亿元。 机构持仓方面，截止2025年6月30日，中国电信十大流通股东中，香港中央结算有限公司位居第九大流 通股东，持股5.57亿股，为新进股东。 责任编辑：小浪快报 融资方面，中国电信当日融资买入9856.45万元。当前融资余额8.37亿元，占流通市值的0.14%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，中国电信8月25日融券偿还3.97万股，融券卖出24.63万股，按当日收盘价计算，卖出金额 188.91万元；融券余量67.34万股，融券余额5 ...

近日，中国电信在香港公布2025年中期业绩。上半年，中国电信全面拥抱人工智能，推动企业战略 由"云改数转"向"云改数转智惠"升级，持续推进企业高质量发展：经营收入为2715亿元，同比增长 1.3％，其中服务收入为2491亿元，同比增长1.2％；EBITDA为806亿元，同比增长4.9％；净利润为230 亿元，同比增长5.5％，每股基本净利润为0.25元。资本开支为342亿元。自由现金流为131亿元，同比增 长13.9％。 上半年，中国电信基础业务稳健增长，战略新兴业务快速发展：移动通信服务收入达1066亿元，同比增 长1.3％；固网及智慧家庭服务收入达641亿元，同比增长0.2％；移动用户4.33亿户，宽带用户达1.99亿 户，移动用户ARPU达46.0元，宽带综合ARPU达48.3元。产业数字化收入达749亿元，AIDC收入同比增 长7.4％。战新重点产品收入保持较快增长，天翼云收入达到573亿元；智能收入达到63亿元，同比增长 89.4％；安全收入达到91亿元，同比增长18.2％；视联网收入同比增长46.2％，卫星收入同比增长 20.5％，量子收入同比增长171.1％。 中国电信高度重视股东回报，不断强化 ...

Group 1: Cloud Computing and ETFs - A-shares experienced a slight pullback on August 25, while the cloud computing sector remained strong, with the cloud computing ETF (517390) rising by 3.86% and trading volume exceeding 30 million yuan [1] - Key components of the cloud computing ETF included Zhongke Shuguang, which hit the daily limit, and Zhongji Xuchuang, which rose over 10% [1] - The computer ETF (159998) saw a modest increase of 0.28% with a trading volume exceeding 90 million yuan, featuring top gainers such as Xiechuang Data, which rose over 8% [1] Group 2: Data Industry Expo - The 2025 China International Big Data Industry Expo will be held in Guiyang from August 28 to 30, organized by the National Data Bureau and the Guizhou Provincial Government [2] - A total of 375 companies, including major players like Huawei and China Telecom, have confirmed participation, showcasing advancements in digital infrastructure, AI models, data security, and smart terminals [2] - The expo will feature a series of activities including supply-demand matching, corporate roadshows, technical seminars, and product launches, creating a professional platform for technology exchange and business opportunities [2] Group 3: Challenges and Opportunities in AI and Cloud Computing - Citic Securities highlighted two main challenges for embodied intelligence companies: the correct model architecture and efficient data sampling, with a focus on the integration of large language models and visual models [3] - Companies with strong capital expenditure capabilities are expected to build competitive barriers through real data collection, while synthetic data and internet data will play a crucial role in the value of embodied models [3] - Central Securities noted an optimistic outlook for capital expenditure among leading cloud vendors by 2025, driven by AI development and the construction of large data centers, which will increase demand for optical device products [3]

（文章来源：每日经济新闻） 恒生指数有限公司8月22日宣布截至6月30日的恒生指数系列季度检讨结果，恒生指数、恒生中国企业指 数、恒生生物科技指数、恒生互联网科技业指数、恒生综合指数等成分股均有所调整，所有变动将于9 月5日收市后实施并于9月8日起生效。 具体来看，恒指、恒生国企指数均将纳入泡泡玛特。此外，恒指还将纳入中国电信、京东物流。恒生生 物科技指数调整较大，将纳入映恩生物-B，并剔除21只个股，最终指数成分股数目由50变为30，指数将 更精简，更聚焦创新药；恒生互联网科技业指数将纳入新意网集团、速腾聚创、云知声。 ...

南向资金对港股通标的股的整体持股比例为18.52%，225只个股南向资金持股比例超20%。 | | | | 占已发行 | | | | | --- | --- | --- | --- | --- | --- | --- | | 代码 | 简称 | 持股量 | 股份比例 | 收盘价 | 日涨跌幅 | 行业 | | | | （万股） | | （港元） | （%） | | | | | | （%） | | | | | 00728 | 中国电信 | 1037218.61 | 74.73 | 6.180 | -1.44 | 电讯业 | | 01330 | 绿色动力环保 | 28298.40 | 69.97 | 5.010 | -0.60 | 工业 | | 01088 | 中国神华 | 229776.76 | 68.02 | 35.460 | -0.73 | 能源业 | | 01108 | 凯盛新能 | 16924.20 | 67.68 | 4.630 | -1.28 | 工业 | | 01065 | 天津创业环保股份 | 21886.21 | 64.36 | 3.960 | -0.25 | 公用事业 | | 03678 | ...