Core Insights - The top three companies by Hong Kong Stock Connect shareholding ratios are China Telecom (72.50%), Power Assets Holdings (69.68%), and GCL-Poly Energy Holdings (69.67%) [1][2] - Xiaomi Group-W, Tracker Fund of Hong Kong, and China Merchants Bank saw the largest increases in shareholding amounts over the last five trading days, with increases of +4.913 billion, +2.976 billion, and +1.548 billion respectively [1][2] - The companies with the largest decreases in shareholding amounts during the same period include WanGuo Gold Group (-3.816 billion), Tencent Holdings (-2.649 billion), and Alibaba Group-W (-1.421 billion) [1][2] Shareholding Ratios - The latest shareholding ratios for the top 20 companies in Hong Kong Stock Connect are led by: - China Telecom (100.63 billion shares, 72.50%) - Power Assets Holdings (3.72 billion shares, 69.68%) - GCL-Poly Energy Holdings (2.82 billion shares, 69.67%) [1] Recent Increases in Shareholding - The top 10 companies with the largest increases in shareholding amounts over the last five trading days are: - Xiaomi Group-W: +4.913 billion (11.647 million shares) - Tracker Fund of Hong Kong: +2.976 billion (11.551 million shares) - China Merchants Bank: +1.548 billion (3.028 million shares) [1][2] Recent Decreases in Shareholding - The top 10 companies with the largest decreases in shareholding amounts over the last five trading days are: - WanGuo Gold Group: -3.816 billion (-49.945 million shares) - Tencent Holdings: -2.649 billion (-4.403 million shares) - Alibaba Group-W: -1.421 billion (-9.435 million shares) [1][2]

Core Viewpoint - The FCC has mandated Chinese telecom operators to resolve certification issues within 14 days, threatening to cut them off from the U.S. telecom network if they fail to comply, which could disrupt communication between users in China and the U.S. [1] Group 1: Regulatory Actions - The FCC has issued an order requiring China Mobile, China Telecom, and China Unicom to address certification issues in the U.S. Robocall Mitigation Database (RMD) within a 14-day timeframe [1] - The Chinese operators must demonstrate that their operations do not pose a threat to U.S. national security and align with public interest [1] Group 2: Consequences of Non-Compliance - Failure to respond adequately will result in the removal of Chinese operators from the RMD, leading to U.S. operators ceasing to receive direct calls from these Chinese companies [1] - This action would effectively block voice calls routed from China to the U.S. through these operators, severely disrupting normal communication between users in both countries [1]

Core Viewpoint - China Telecom is leveraging 5G and cloud network integration technologies to transform traditional tourism into smart tourism, enhancing rural tourism development through a "digital brain + characteristic applications" system [1][5]. Group 1: Smart Tourism Transformation - China Telecom's initiative in Lianhua County's Jin Tan Yun Wu Scenic Area serves as a model for rural tourism digital transformation, implementing a "1+6+N" smart tourism system that includes traffic geographic information, emergency command, and visitor flow monitoring [6]. - The integration of 5G technology has enabled digital coverage of 18 core scenic spots, a smart parking system, and a one-stop booking platform for tickets, accommodations, and local products, facilitating a shift from traditional sightseeing to immersive experiences [6][7]. Group 2: Nationwide Trends in Winter Tourism - The winter tourism market in China is experiencing significant growth, with various regions innovating in cultural and tourism integration to enhance consumer experiences and stimulate economic activity [4][5]. - Initiatives such as Qingdao's "Mountain Sea Winter Charm" campaign and interactive experiences in Kaifeng's Qingming Riverside Landscape Garden are examples of how local governments are promoting tourism through unique offerings [4]. Group 3: Role of Digital Technology - Digital technology, particularly 5G and AI, is becoming a crucial driver for the tourism industry, enabling personalized services and immersive experiences that break seasonal and regional limitations [5][8]. - China Telecom's 5G cloud network is enhancing tourism across various settings, from rural areas to urban centers, by providing high-speed connectivity and real-time data processing [7]. Group 4: AI Integration in Tourism - China Telecom is integrating AI technology to create a comprehensive intelligent service system that enhances travel planning, visitor experiences, and industry empowerment [9]. - The "AI Companion" system in Huangshan exemplifies how AI can optimize visitor routes and provide real-time information, significantly improving management efficiency and visitor satisfaction [10][11].

近期，随着字节跳动推出豆包手机助手，图形用户界面智能代理（GUI Agent）技术方案引起国内智能 终端行业广泛热议。一方面，图形用户界面智能代理是目前在终端场景下人工智能一键执行能力最强、 几乎可以适配所有应用的技术方案；另一方面，也有观点认为其可能是颠覆现有应用商业模式的关键变 量，由此引发了包括终端厂商、应用厂商及模型厂商在内的多方博弈。从"脉智"展示出的能力来看，电 信运营商也不愿缺席这场关键战役。 行业分析人士认为，电信运营商入局人工智能终端入口具有独特的资源禀赋。相比于互联网厂商，电信 运营商拥有底层网络控制权、庞大的用户基数等天然资源优势。与此同时，在第五代移动通信（5G） 新通话、云手机等业务场景中，电信运营商也可以通过智能体来激活存量资产，扭转仅作为流量传输通 道的基础设施商角色，释放出更多直接为用户提供增值服务的空间。 不同于传统的手机语音助手，新国脉文化的"脉智"应用不仅能够与人对话互动，更能够自动执行任务。 据阶跃星辰相关负责人介绍，"脉智"应用深度集成了阶跃星辰自研的图形用户界面智能体模型与智能体 技术，用户只需通过自然语言表达意图，人工智能体就可以自动化完成中间繁琐的操作步骤。 目 ...

Core Viewpoint - The article emphasizes the importance of a diversified childcare service system in Jining, which integrates government guidance, state-owned enterprise leadership, and social participation to enhance family happiness and population development [1][2]. Group 1: Policy and Framework - Jining has established a comprehensive policy framework for childcare services, including 28 specific policies across 10 categories, ensuring support for the development of childcare institutions [2][4]. - The city has implemented a collaborative work system involving multiple departments and levels of government to promote efficient childcare service delivery [2][3]. Group 2: Digital Transformation - China Telecom's Jining branch has developed a "smart management cloud platform" that integrates various technologies to enhance the efficiency of childcare services, allowing real-time monitoring and data management [1][3]. - The platform features an "information system" that includes a childcare portal and six specialized platforms focusing on different aspects of childcare management, facilitating a shift from manual to intelligent management [3][4]. Group 3: Service Delivery and Community Impact - Jining's childcare services aim to create a "15-minute childcare service circle," making services easily accessible to families through various models such as public-private partnerships and community-based care [5][6]. - The platform has integrated 910 registered childcare institutions, providing over 45,000 childcare spots, which positions Jining as a leader in the province for childcare service availability [6][7]. Group 4: Safety and Security - A smart security monitoring system has been implemented to ensure the safety of children in childcare institutions, utilizing advanced video surveillance and AI algorithms to identify risks [6][7]. - Data security measures are in place to protect sensitive information related to children and operational data, ensuring privacy and compliance with regulations [6][7].

Core Viewpoint - Guangxi Shusi Zhiwei Technology Co., Ltd. has been established with a registered capital of 30 million RMB, focusing on software development and various technology services, indicating a growing interest in the tech sector in Guangxi [1] Company Information - The company was founded recently, with its legal representative being Jiang Jiaheng and a registered capital of 30 million RMB [1] - The business scope includes software development, information system maintenance, big data services, AI application software development, and 5G communication technology services [1][2] - The company is jointly owned by Shusi Technology Group Co., Ltd. (51% stake) and China Telecom's subsidiary, Zhongdian Telecom Smart Technology Co., Ltd. (49% stake) [1][2] Shareholder Information - Shusi Technology Group Co., Ltd. is the controlling shareholder, holding a 51% stake, while Zhongdian Telecom Smart Technology Co., Ltd. holds a 49% stake [2]

转变，来自中国电信研究院纪委开展的一次调研监督。 "调研中，很多一线研发人员反映了因重复填报科研数据耗费时间精力的痛点问题。对此，我们会同职 能部门开展专题会商，一致认为，既要立行立改，又要从源头解决问题，强化统筹协调、跟踪问效，推 动提升科研管理水平。"中国电信研究院纪委有关负责人告诉记者。 避免重复低效，除了优化现有科研管理流程，根子上要打通不同部门之间的数据壁垒，增强信息共享， 提升管理效率。瞄准方向后，研究院纪委督促推动相关责任部门加快科研数字化管理项目建设，编制研 发数据共享体系规划，合力开发和迭代优化了"研发数据仓库"，促进跨部门、跨系统科研数据的高效共 享。 中央纪委国家监委网站 黄秋霞 "研发数据仓库"打通了数据壁垒，也助推了研究院纪委监督能力的提升。作为"研发数据仓库"的用户之 一，研究院纪委通过关联分析"仓库"汇聚的数据，利于精准发现问题。 12月5日上午，中国电信研究院研发人员石钊蔚等人打开电脑，通过科研项目管理系统，查看填报专利 信息的审核状态。 石钊蔚介绍，今年填报专利信息"只用填一次"，与以往需要在不同管理系统重复填报三次相比，轻松了 不少，更能集中精力做科研。 "在这个'仓库'中 ...

Group 1 - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 72.65%, Da Zhong Gong Yong (01635) at 69.99%, and Green Power Environmental (01330) at 69.49% [1][2] - The companies with the largest increase in holding amounts over the last five trading days are Xiaomi Group-W (01810) with an increase of 4.323 billion, YINGFU Fund (02800) with an increase of 2.993 billion, and Leap Motor (09863) with an increase of 1.016 billion [1][2] - The companies with the largest decrease in holding amounts over the last five trading days are Tencent Holdings (00700) with a decrease of 3.533 billion, Alibaba-W (09988) with a decrease of 1.871 billion, and ASM PACIFIC (00522) with a decrease of 668 million [1][3] Group 2 - The latest holding ratio rankings for Hong Kong Stock Connect show that China Telecom holds 10.082 billion shares, Da Zhong Gong Yong holds 374 million shares, and Green Power Environmental holds 281 million shares [2] - The top ten companies with the largest increases in holdings over the last five trading days include China Merchants Bank (03968) with an increase of 821 million, BYD Company (01211) with an increase of 760 million, and Meituan-W (03690) with an increase of 614 million [2] - The top ten companies with the largest decreases in holdings over the last five trading days include China Mobile (00941) with a decrease of 568 million, COSCO Shipping Energy (01138) with a decrease of 430 million, and Hong Kong Exchanges and Clearing (00388) with a decrease of 424 million [3]

Core Insights - The 2025 (3rd) Enterprise-Local Cooperation Forum was successfully held in Beijing, focusing on the theme of "14th Five-Year Plan" industrial chain collaborative innovation development, aiming to explore pathways for high-quality development in the new era [1] Group 1: Event Overview - The forum was guided by the State-owned Assets Supervision and Administration Commission and organized by the China Enterprise Reform and Development Research Association [1] - The results of the "2025 Central Enterprise Industrial Chain Innovation Development Excellent Case" evaluation were officially announced, with China Telecom's Tianyi Payment Technology Co., Ltd. recognized for its "Yufeng" intelligent penetration regulatory platform [3] Group 2: Company Developments - Since being approved as the chain leader of the modern mobile payment industry in 2023, China Telecom has actively promoted industrial integration and collaborative development through Tianyi Payment [5] - The award signifies a major practical breakthrough in data operation, transforming accumulated payment data and technological capabilities into core competencies for empowering state-owned enterprises' governance modernization and preventing systemic risks [6] Group 3: Platform Features - The "Yufeng" platform aims to achieve intelligent penetration regulation across all levels, chains, processes, and elements, addressing traditional regulatory challenges such as "data silos" and "hidden risks" [6] - The platform features a core application framework of "one screen and three centers," providing a visual decision-making interface that integrates risk panoramic perspective, intelligent monitoring and early warning, and collaborative dispatching [7] - It processes EB-level massive data, integrating over 300 million business entities and more than 2 billion relationship data, with self-developed Talon inference acceleration technology enhancing model inference speed by up to 6.5 times [7] Group 4: Impact and Future Plans - The "Yufeng" platform has been implemented in over 30 central enterprises, significantly improving proactive, precise, and collaborative risk prevention efficiency [7] - The recognition of this case not only affirms the practical achievements of the "Yufeng" platform but also acknowledges China Telecom's successful establishment of a new track in data operation, contributing to industrial safety and governance modernization [8] - Looking ahead to the "14th Five-Year Plan," China Telecom's Tianyi Payment will continue to deepen technological innovation and ecological cooperation in data intelligence and risk prevention [8]

Core Viewpoint - The establishment of a trusted data space in the central state-owned enterprise sector is aimed at accelerating the market-oriented and value-oriented process of data elements, leveraging the role of state-owned enterprises in the national data market reform [1][2]. Group 1: Pilot Program and Key Participants - The State-owned Assets Supervision and Administration Commission announced a pilot program for the construction of trusted data space systems, involving major central enterprises such as China Telecom, China Mobile, China Unicom, and others [1]. - The core task of the pilot program is to promote interconnectivity and ecological co-construction of trusted data spaces across industries and enterprises within the central state-owned enterprise sector [1][2]. Group 2: Infrastructure and Operational Model - The trusted data space will be built on a model of "co-construction, co-creation, sharing, and common use," utilizing dedicated public cloud computing and data transmission networks provided by the three major telecom operators [1][2]. - A unified set of rules for data circulation and a secure environment for trusted data usage will be established, facilitating efficient data sharing, trading, and utilization [2]. Group 3: Innovation and Collaboration - The trusted data space will explore innovative data operation models and revenue distribution mechanisms, promoting collaboration among central enterprises and their upstream and downstream partners [3]. - The initiative aims to incubate new technologies, products, models, and business formats through demand-driven approaches and scenario validation, thereby empowering industrial upgrades and high-quality development [3].