Core Insights - The 2025 Greater Bay Area Science Forum opened in Guangzhou, focusing on advancements in mobile communication, artificial intelligence, industrial internet, quantum communication, and computing networks [1] Group 1: Industry Developments - China Unicom launched the Guangdong Computing Network Collaborative Service Platform, which aims to enhance the efficient circulation of computing resources across different levels, regions, and industries [2] - The platform features four main functions: industry policy window, computing resource identification management, supply-demand market matching, and a diversified product matrix [2] - The Guangdong Computing Network Collaborative Service Center will provide dual support for facility interconnection, resource sharing, and trustworthy transactions [2] Group 2: Security Innovations - China Unicom's network security base announced six innovative achievements, including the "Mo Attack + Four Honey" defense system and the establishment of a data security governance framework [4] - The company introduced two innovations in low-altitude intelligent networking: a low-altitude safety supervision platform certified by CNAS and a trusted low-altitude data space [4] Group 3: Quantum Security Products - China Unicom released three quantum security innovations: a Quantum Key Distribution (QKD) integrated product, an encryption product based on a quantum random number key cloud platform, and a post-quantum cryptography (PQC) product integrated with OTN devices [7] - These quantum security products are currently being piloted in multiple locations within the Greater Bay Area and are expected to be scaled for use in critical information communication sectors such as government, finance, and enterprises [7] - A signing ceremony was held between Guangdong Unicom and the South China University of Technology for a new generation information technology industry innovation center [7]

Core Insights - The establishment of the first national AI application pilot base for mobile terminals was announced during the 2025 Global Intelligent Machinery and Electronic Products Expo, with China Unicom playing a key role in its construction [1][4] - The base aims to facilitate the digital and intelligent upgrade of enterprises in the AI terminal industry, enhancing the quality of development in this sector [1][4] Group 1: AI Terminal Industry Development - The AI terminal industry faces two common challenges: traditional terminal products struggle to meet the demands of AI upgrades, and there are inefficiencies and high costs in the R&D and manufacturing processes [2] - The base has created a unique "552" capability service system, focusing on terminal innovation and manufacturing efficiency, covering five dimensions: computing power, data, models, AI application development tools, and security [2][3] Group 2: Collaborative Ecosystem - China Unicom has injected four key capabilities into the base, including access to vast network data, IoT connectivity, simplified development through its intelligent platform, and a large market space with over 600 million terminal users [3] - The establishment of the AI Terminal Industry Alliance aims to leverage the strengths of Shenzhen and Dongguan, collaborating with various partners to drive technological advancements in open-source chip development, large model applications, and intelligent hardware innovation [3][4] Group 3: Future Prospects - China Unicom plans to act as a leader in the AI industry chain, fostering collaboration with ecosystem partners to accelerate the commercialization of innovative technologies and enhance the industrial application of AI [4]

引子 最近A股市场热闹非凡，30家公司排队分拆上市的消息刷屏。看着这些科技企业纷纷"单飞"，我不禁想起一个老问题：为什么每次市场机会来临，散户总是 后知后觉？就像上周五中车宣布分拆子公司上市后股价应声上涨，但真正能提前布局的又有几人？ 一、分拆上市的财富密码 中国中车这波操作绝非个例。今年以来，已有30家A股公司推进分拆上市计划。南开大学田利辉教授说得好：分拆能让母公司专注主业，同时给子公司独立 融资渠道。但我想说的是，这些专业术语背后藏着一个残酷现实——机构早就把算盘打得啪啪响。 看看这些分拆案例：高端装备、新材料、信息技术…哪个不是机构重仓的香饽饽？七部委刚发布支持科技企业上市的政策，大资金就已经闻风而动。中国联 通分拆智网科技、汇川技术分拆联合动力…这些案例告诉我们：在资本市场，政策风向就是财富密码。 但问题是，普通散户有几个能第一时间捕捉到这些信号？等我们看到公告时，股价早就一飞冲天。这就是典型的"信息不对称"——机构有专业团队24小时盯 着政策动向，而散户只能靠刷新闻。 二、牛市最大的陷阱 说到这儿，不得不提一个更扎心的事实：牛市里最大的风险不是下跌，而是踏空！很多人经历过熊市后变得杯弓蛇影，稍微涨 ...

中国青年报客户端北京12月6日电（中青报·中青网见习记者 刘佳佳 记者 张均斌）记者从中国联通获 悉，截至目前，其旗下青海联通海西州分公司（以下简称"海西联通"）已在冷湖火星营地及火星1号公 路建设区域累计投资729万元，铺设光缆线路达129皮长公里，成功建设开通4G基站12座、5G基站1座， 基本实现了该区域无线网络的连续覆盖。 通信基站。海西联通供图 这背后都离不开通信网络的支撑。海西联通相关负责人表示，在青海省通信管理局的统筹规划下，目 前，通信运营商正紧锣密鼓地在赛什腾山顶为筹建中的清华大学深空技术中心、中国科学院紫金山天文 台观测站及赛什腾盘山公路处新建三座4G基站，科研机构正在做基站选址对天文观测工作影响的研 判，预计2026年4月底前，这些基站将建成并投入使用，为天文科研观测台站及基地道路提供更加全 面、稳定的无线网络覆盖。 随着更多天文观测站点的建成与投入使用，基地对高速网络、海量数据存储及高性能计算的需求将日益 增长。海西联通将以此为契机，重点围绕增强无线网络覆盖的广度与深度、提升网络运行质量、应对未 来数据存储与算力挑战等方面进行全面部署。 来源：中国青年报客户端 冷湖火星营地位于青海省海 ...

Core Insights - The introduction of eSIM technology in China marks a significant shift in the telecommunications industry, allowing for a "slot-free" mobile experience that has been long awaited [1][4][5] - The delay in eSIM adoption was primarily due to security concerns related to telecom fraud, which have now been addressed through advancements in identity verification technology [5][8] - The market demand for eSIM-compatible devices, such as the new iPhone Air, has pressured telecom operators to expedite the rollout of eSIM services [8] Industry Overview - eSIM, or embedded SIM, integrates the SIM card directly into the device, eliminating the need for a physical card slot [4] - The technology has been available in devices like smartwatches and tablets for years, but its implementation in smartphones has faced regulatory delays [4][5] - The recent approval from the Ministry of Industry and Information Technology (MIIT) allows major telecom operators in China to begin commercial trials of eSIM [1] Operator Experience - The user experience for eSIM activation varies significantly among the three major telecom operators: China Mobile, China Unicom, and China Telecom [9][12] - China Mobile's app is less user-friendly, requiring mandatory login and making it difficult for new users to access eSIM services [13][15] - In contrast, China Unicom offers a more accessible app experience, allowing users to find nearby service points without logging in [16][18] - China Telecom's app is somewhat balanced, providing visibility for eSIM services but still requiring login for full access [20][22] Activation Process - The eSIM activation process involves several steps, including scanning the device's IMEI code and downloading configuration files via Wi-Fi [29] - The overall time taken for activation ranges from 15 to 20 minutes, depending on the operator and the staff's familiarity with the eSIM process [31] - Users must visit physical stores to activate eSIM, which contradicts the technology's digital nature and highlights the current limitations in service delivery [45][50] Future Outlook - eSIM technology is expected to enhance device design by saving space, allowing for larger batteries or improved cooling systems in smartphones [46] - However, the current eSIM experience in China is still evolving, with significant room for improvement in terms of convenience and efficiency [48][50] - As technology and policies continue to develop, a more streamlined eSIM activation process is anticipated, aligning with global standards [51]

Core Insights - The report highlights a shift in capital expenditure by telecom operators towards computing infrastructure, driven by a reduction in traditional telecom network spending and an increasing demand for AI capabilities [3][4]. Capital Expenditure Trends - In 2024 and the first half of 2025, capital expenditure by Chinese telecom operators is expected to decline, primarily due to reduced spending on traditional telecom networks like 5G. However, there is a notable increase in investments in AI and computing infrastructure to meet growing market demands [4][8]. - Goldman Sachs projects that despite a further decrease in telecom network spending in 2025, the growth in capital expenditure related to intelligent computing capabilities will partially offset this decline, leading to an overall decrease in annual capital expenditure [8]. Specific Operator Projections - China Telecom is expected to have a capital expenditure of 84 billion RMB in 2025, down from 94 billion RMB in 2024, with an increase in investments related to computing platforms [8]. - China Unicom's capital expenditure is projected to be 55 billion RMB in 2025, down from 61 billion RMB in 2024, primarily due to reduced 5G-related capital expenditure, but with a simultaneous increase in AI infrastructure investments [8]. Competitive Advantage - Telecom operators possess their own Internet Data Center (IDC) resources, which reduces reliance on external IDC suppliers and helps lower overall operational costs [7].

Core Insights - The Latin American smartphone market is projected to grow by 1% year-on-year in Q3 2025, reaching a shipment volume of 35.2 million units, the highest quarterly shipment level since Q4 2015 [2] - Major manufacturers have shown resilience in shipment volumes due to cautious inventory management and moderate consumer demand despite economic uncertainties [2] Market Performance - Samsung leads the market with 11.6 million units shipped, capturing 33% market share, with its low-end A series models accounting for 68% of its total shipments [2] - Xiaomi follows in second place with 6.3 million units (18% share), while Motorola ranks third but has seen a decline for six consecutive quarters, with a year-on-year drop of 11% [2] - Honor ranks fourth, achieving a new shipment high of 2.9 million units for the third consecutive quarter, driven by growth in the Caribbean, Colombia, and Ecuador, which now account for over 40% of its total shipments [2] Regional Insights - The recovery in the region is attributed to growth in key markets like Brazil and Central America, with Brazil holding a 29% share and a shipment volume of 10.3 million units (5% year-on-year growth) [4] - In contrast, Mexico, the second-largest market, saw a shipment volume of 7.4 million units (21% share), down 11% year-on-year, marking the fourth consecutive quarter of decline [4] - The demand for low-end devices remains strong in Brazil and other markets, while Colombia and Chile show signs of recovery due to improved economic conditions [4] Price Segment Analysis - Despite overall market growth, the segment below $300, which accounts for 71% of total shipments, declined by 2% due to ongoing inventory pressures and stagnant consumer demand [5] - This decline is offset by a robust 20% year-on-year growth in the high-end segment (above $500), leading to an 8% increase in average selling price (ASP) in Q3 2025 [6] - Brands like OPPO, Xiaomi, Honor, vivo, and realme are intensifying their efforts to solidify their positions in this high-margin segment [6] Strategic Insights - The increase in high-end market shipments reflects manufacturers' efforts to maintain market share and enhance brand positioning amid saturation in the low-end market [8] - Companies are focusing on improving ASP, enhancing ecosystem profitability, and strengthening customer loyalty as key strategies for sustained financial health [8] - Omdia forecasts that the Latin American smartphone market will remain stable in 2025, with an estimated annual shipment volume of approximately 137 million units, although pressures for 2026 are emerging due to rising costs of memory and storage [8]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 72.68%, Green Power Environmental (01330) at 69.12%, and Da Zhong Public Utilities (01635) at 69.03% [1] - Alibaba-W (09988), Meituan-W (03690), and Pop Mart (09992) saw the largest increases in holding amounts over the last five trading days, with increases of +3.329 billion, +1.319 billion, and +1.060 billion respectively [1] - The largest decreases in holding amounts were observed in Zijin Mining (02899) at -861 million, SMIC (00981) at -815 million, and Lenovo Group (00992) at -430 million [1][2] Hong Kong Stock Connect Holding Ratios - China Telecom (00728): 100.87 billion shares, 72.68% holding ratio [1] - Green Power Environmental (01330): 2.80 billion shares, 69.12% holding ratio [1] - Da Zhong Public Utilities (01635): 3.68 billion shares, 69.03% holding ratio [1] - Other notable companies include Haotian International Construction Investment (01341) at 68.75% and China Shenhua (01088) at 67.00% [1] Recent Increases in Holdings (Last 5 Trading Days) - Alibaba-W (09988): +3.329 billion, +21.6752 million shares [1] - Meituan-W (03690): +1.319 billion, +13.7526 million shares [1] - Pop Mart (09992): +1.060 billion, +4.9058 million shares [1] - Other companies with significant increases include ZTE Corporation (00763) and China Merchants Bank (03968) [2] Recent Decreases in Holdings (Last 5 Trading Days) - Zijin Mining (02899): -861 million, -26.2640 million shares [2] - SMIC (00981): -815 million, -12.1252 million shares [2] - Lenovo Group (00992): -430 million, -43.6821 million shares [2] - Other companies with notable decreases include China Mobile (00941) and China Pacific Insurance (02328) [2]

SINGAPORE, Dec. 03, 2025 (GLOBE NEWSWIRE) -- EngageLab, a global leader in AI-powered omnichannel customer engagement and marketing technology, together with China Unicom Global, HKT (Hong Kong Telecommunications), and Huawei, recently unveiled the OpenGateway Cross-Operator Converged Authentication Solution. This joint innovation establishes a new industry benchmark for secure, seamless, and scalable user authentication across borders-enabling enterprises to accelerate their global expansion with confidenc ...

Core Insights - The collaboration between the government of Shadui Town and local entrepreneurs aims to accelerate the digital and intelligent transformation of local industries through the "Hundred Million Thousand Project" [2][7] - The event focused on how central enterprises' digital technology can empower high-quality local industrial development [2][7] Group 1: Event Overview - A delegation from Shadui Town visited Jiangmen Unicom for in-depth discussions and inspections, emphasizing the implementation of the "Hundred Million Thousand Project" [2][7] - The delegation toured Jiangmen Unicom's digital exhibition hall, gaining insights into innovations in the industrial internet sector, including the "Digital Government" platform and various AI and IoT applications [2][7] Group 2: Industry Needs and Solutions - Shadui Town's representatives highlighted the need for digital transformation in manufacturing, agriculture, and services [5][10] - Jiangmen Unicom presented customized solutions leveraging 5G and industrial internet to enhance production efficiency and reduce IT costs [5][10] - Specific recommendations included deploying 5G+AR remote quality inspection systems for manufacturing and implementing smart management platforms for traditional parks [5][10] Group 3: Future Collaboration - Entrepreneurs expressed high regard for Jiangmen Unicom's innovative practices in digital government and industrial AI, viewing them as well-suited to their digital transformation needs [5][10] - The delegation aims to convert collaboration intentions into concrete projects, fostering deep integration of digital technology with local industries [5][10][11] - The event established an efficient communication bridge among government, central enterprises, and businesses, accelerating the region's digital transformation [6][11]