Group 1 - The National Communication Index decreased by 1.14% as of September 16, 2025, with mixed performance among constituent stocks, led by Cambridge Technology with a rise of 9.65% [1] - The Communication ETF (159695) experienced a cumulative increase of 5.45% over the past week, ranking first among comparable funds [1] - The Communication ETF's latest scale reached 299 million yuan, marking a one-year high and also ranking first among comparable funds [3] Group 2 - The communication industry showed strong performance in the first half of 2025, with significant growth in revenue and net profit, and record high gross and net profit margins since 2022 [4] - The top ten weighted stocks in the National Communication Index accounted for 64.43% of the index as of August 29, 2025, with notable companies including New Yisheng, Zhongji Xuchuang, and ZTE [4] - The Communication ETF achieved a net value increase of 109.34% over the past year, ranking 189 out of 3013 index stock funds, placing it in the top 6.27% [3]

Group 1 - On September 15, China Telecom's stock fell by 1.38% with a trading volume of 1.133 billion yuan [1] - The financing data shows that on the same day, China Telecom had a financing purchase amount of 97.8822 million yuan and a financing repayment of 72.9327 million yuan, resulting in a net financing purchase of 24.9495 million yuan [1] - As of September 15, the total balance of margin trading for China Telecom was 909 million yuan, with the financing balance at 906 million yuan, accounting for 0.16% of the market capitalization, indicating a high level compared to the past year [1] Group 2 - China Telecom, established on September 10, 2002, and listed on August 20, 2021, primarily engages in telecommunications and related services [2] - The company's revenue composition includes mobile communication services (39.56%), industrial digital services (27.78%), fixed-line and smart home services (23.80%), sales of goods and other income (7.54%), and other services (1.32%) [2] - For the first half of 2025, China Telecom reported operating revenue of 269.422 billion yuan, a year-on-year increase of 1.30%, and a net profit attributable to shareholders of 23.017 billion yuan, up by 5.53% [2] Group 3 - Since its A-share listing, China Telecom has distributed a total of 95.186 billion yuan in dividends, with 68.649 billion yuan distributed in the last three years [3] - As of June 30, 2025, the number of shareholders for China Telecom was 222,800, a decrease of 7.09% from the previous period [3] - Hong Kong Central Clearing Limited is the ninth largest circulating shareholder, holding 555 million shares as a new shareholder [3]

经济观察网 9月15日，2025年国家网络安全宣传周在昆明隆重开幕。中国电信（601728）以"安全筑底 色 智惠启新程"为主题，携多项创新成果精彩亮相网络安全博览会。作为建设网络强国、科技强国、数 字中国和维护网信安全的国家队和主力军，中国电信在企业云改数转智惠战略升级中坚持绿色安全是底 色，持之以恒打造安全型企业，以务实举措筑牢网络安全防线。本次特设"央企担当""智护安全""安全 服务""电诈治理"四大展区，系统呈现从基础设施到应用场景的全栈安全体系，全面落实"没有网络安全 就没有国家安全"的重要思想。 ...

Core Viewpoint - The "Mingchu Liangzao Entrepreneurship Support Plan" was launched to assist college students, disabled entrepreneurs, and "special quality" individual businesses by providing over 1,000 yuan worth of support packages, marking a shift from industry advocacy to a systematic public welfare initiative [1][3]. Group 1: Program Overview - The plan is a collaboration between Taobao Flash Sale, Ele.me, and various organizations, aiming to enhance food safety and support entrepreneurship among specific groups [1][3]. - The initiative will last for three years with no budget cap, providing free "Mingchu Liangzao" support packages to eligible entrepreneurs [1][3]. Group 2: Support Measures - Eligible entrepreneurs will receive a free package that includes a 4G version of the Mingchu Liangzao camera, a 64GB storage card, the first year of 4G data, and AI inspection services for food safety [3][4]. - The plan also includes promotional support through traffic assistance, online exposure optimization, and marketing tools to help reduce startup costs and enhance market competitiveness [4][5]. Group 3: Target Audience - The program specifically targets college students (including current students and 2025 graduates), disabled entrepreneurs, and "special quality" individual businesses [3][4]. - Applications can be submitted through organized or social channels, requiring relevant documentation for verification [6]. Group 4: Industry Impact - Ele.me has been a pioneer in promoting "Mingchu Liangzao" since 2017, evolving from a food safety regulatory tool to a business support tool with the introduction of AI and digital management features [5][6]. - The collaboration with partners like China Telecom aims to create a sustainable model that combines government guidance, corporate collaboration, and social participation [5][6].

中国电信南通分公司反诈宣传走进"苏超"火热赛场 AI安全助力数字中国建设 当前，以人工智能、量子科技为代表的新一轮科技革命和产业变革深入发展，带来重大机遇和挑战。江 苏电信持续推动企业战略向云改数转智惠转型，以高水平安全保障高质量发展。 江苏电信聚焦人工智能与安全协同共生，构建"用AI强安全"与"靠安全护AI"双轮驱动模式，打造AI双向 安全实践的"江苏标杆"，在大模型安全应用与自身防护领域取得显著成效。 在大模型赋能安全领域方面，面对海量日志与百万级告警的挑战，江苏电信依托自研的"见微"安全大模 型，深度融合深度学习与日志分析技术，构建智能防护体系。通过实时解析流量数据、行为异常等特 征，将威胁研判准确率提升至90.21%，有效解决传统人工分析效率低、漏报率高的痛点。同时，基于 集中化日志审计平台，创新打造数据安全风险智能审计新范式，实现从被动防御向主动预判的转变，为 网络安全提供高效、精准的决策支持。 在大模型自身安全防护方面，江苏电信以全生命周期防护体系筑牢大模型安全底座。事前，联合集团研 发大模型安全评测平台，覆盖国家5大类31小类安全风险的多模态测评能力，确保模型上线前的合规 性；事中，构建多模态安 ...

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 72.04%, Green Power Environmental (01330) at 69.16%, and China Shenhua (01088) at 67.97% [1] - Alibaba-W (09988), Horizon Robotics-W (09660), and Ping An of China (02318) saw the largest increases in holding amounts over the last five trading days, with increases of +14.898 billion, +1.834 billion, and +1.420 billion respectively [1] - The companies with the largest decreases in holding amounts over the last five trading days include Pop Mart (09992) with a decrease of -2.561 billion, Xiaomi Group-W (01810) with -2.531 billion, and Kangfang Biotech (09926) with -0.911 billion [2] Group 1: Top Holding Ratios - China Telecom (00728) has a holding ratio of 72.04% with 10 billion shares [1] - Green Power Environmental (01330) has a holding ratio of 69.16% with 280 million shares [1] - China Shenhua (01088) has a holding ratio of 67.97% with 2.296 billion shares [1] Group 2: Recent Increases in Holdings - Alibaba-W (09988) increased its holdings by +14.898 billion, adding 98.598 million shares [1] - Horizon Robotics-W (09660) increased its holdings by +1.834 billion, adding 17.948 million shares [1] - Ping An of China (02318) increased its holdings by +1.420 billion, adding 24.8703 million shares [1] Group 3: Recent Decreases in Holdings - Pop Mart (09992) decreased its holdings by -2.561 billion, reducing 9.2515 million shares [2] - Xiaomi Group-W (01810) decreased its holdings by -2.531 billion, reducing 45.9018 million shares [2] - Kangfang Biotech (09926) decreased its holdings by -0.911 billion, reducing 6.7244 million shares [2]

Group 1 - The launch of the "Ruyi AI" smart tourism platform marks a significant step in the digital transformation of Gansu's cultural and tourism industry, driven by the collaboration between China Telecom Gansu and China Electric Wanwei [1] - "Ruyi AI" leverages advanced technologies such as AI models and big data to transition from traditional tourism tools to intelligent service systems, providing comprehensive AI-assisted travel services for tourists [1] - The upgraded "Yima You Gansu" platform offers one-stop solutions for itinerary planning and attraction reservations, while generating personalized travel plans based on user data [1] Group 2 - The "Yima You Gansu" platform aims to promote cross-industry integration by incorporating resources from finance, logistics, and insurance, enhancing user experience with additional services like credit consumption and travel insurance [2] - The platform will utilize Gansu Telecom's digital infrastructure to connect and onboard tourism-related businesses, gradually establishing a digital service ecosystem for Gansu's cultural and tourism sector [2] - This initiative is expected to unlock new smart travel experiences for tourists and contribute to the high-quality development of Gansu's cultural and tourism industry [2]

Core Viewpoint - Apple has updated the release information for the iPhone Air, indicating that all models will be released after receiving necessary approvals [1]. Group 1 - The iPhone Air will utilize eSIM technology for network activation and will not support physical SIM cards [2]. - Users must select a carrier that supports eSIM and choose an appropriate mobile service plan [2]. - Major Chinese carriers, including China Mobile, China Telecom, and China Unicom, will provide eSIM support for the iPhone Air, subject to regulatory approval [2].

Core Insights - Apple has updated its official website to indicate that the release date for the iPhone Air will be provided later, stating that "all models will be released after obtaining approval" [1] - The iPhone Air will utilize eSIM technology for activating carrier networks and will not support physical SIM cards [1] - eSIM activation requires users to select a carrier that supports eSIM and a corresponding mobile service plan, with China Mobile, China Telecom, and China Unicom providing eSIM support, subject to regulatory approval [1]

Core Insights - China Telecom Tianyi AI has been recognized in the "2025 AI+ New Quality Productivity Leading Enterprises TOP 100" list and its Starry Super Intelligent Agent has been included in the "2025 Enterprise-level AI Agent Applications TOP 50" list, highlighting its significant role in the AI sector [1][2]. Group 1: Company Achievements - China Telecom Tianyi AI has implemented the national AI development strategy, transitioning its business strategy towards "cloud transformation, data transformation, and intelligent benefits" [1]. - The company has developed a comprehensive AI capability stack, leveraging its cloud-network integration, vast proprietary data, and diverse application scenarios to support large-scale AI development [1][2]. - The Starry Super Intelligent Agent, launched by China Telecom Tianyi AI, is designed to assist government and enterprise users in complex task decomposition and solution planning, facilitating cross-platform task completion [2]. Group 2: Product Development - The Starry Super Intelligent Agent is powered by China Telecom's self-developed Starry large model, which encompasses semantic, voice, visual, and multimodal capabilities, emphasizing its fully self-developed and domestically produced advantages [2]. - The company has made breakthroughs in key areas such as AI large models, AI middle platforms, and big data, establishing a structured product system that includes standardized capabilities, integrated hardware and software services, industry solutions, and open development platforms [1][2]. Group 3: Industry Positioning - As part of the "AI National Team," China Telecom Tianyi AI aims to empower various industries with new quality productivity, aligning with the national directive on the implementation of "AI+" [2]. - The company is positioned as a leading player in the AI sector, particularly in government applications, as indicated by its ranking in the TOP 100 list [7].