Market Performance - The Hang Seng Index rose by 467.21 points, an increase of 1.76%, closing at 27,027.16 points [1] - The H-share Index increased by 136.95 points, closing at 9,168.33 points, a rise of 1.52% [1] - The Hang Seng Tech Index gained 71.4 points, closing at 5,417.6 points, up by 1.34% [1] - The total turnover on the main board was 255.14 billion HKD [1] Blue Chip Stocks - Tencent Holdings increased by 2.28%, closing at 560 HKD [1] - Hong Kong Exchanges and Clearing rose by 2.7%, closing at 418.6 HKD [1] - HSBC Holdings saw a rise of 3.34%, closing at 139.3 HKD [1] - China Mobile decreased by 2.12%, closing at 78.5 HKD [1] Local Hong Kong Stocks - Cheung Kong Holdings rose by 1.7%, closing at 46.62 HKD [1] - Sun Hung Kai Properties increased by 3.46%, closing at 131.5 HKD [1] - Henderson Land Development rose by 2.5%, closing at 32.78 HKD [1] Chinese Financial Stocks - Bank of China increased by 0.86%, closing at 4.7 HKD [1] - China Construction Bank rose by 1.38%, closing at 8.08 HKD [1] - Industrial and Commercial Bank of China increased by 0.46%, closing at 6.52 HKD [1] - Ping An Insurance saw a rise of 4.89%, closing at 73 HKD [1] - China Life Insurance increased by 3.98%, closing at 35.04 HKD [1] Oil and Petrochemical Stocks - China Petroleum & Chemical Corporation decreased by 0.37%, closing at 5.33 HKD [1] - China National Petroleum Corporation fell by 1.29%, closing at 9.16 HKD [1] - CNOOC Limited saw a slight decrease of 0.08%, closing at 24 HKD [1]

Group 1 - China Mobile's stock price in Hong Kong has decreased by 2.1% [1]

Group 1 - Goldman Sachs has adjusted the target price for China Mobile (00941.HK) from HKD 105 to HKD 88 and downgraded the rating from "Buy" to "Neutral" [1] - The report highlights that while China Mobile shows growth potential in innovative business areas, the slowdown in 5G telecom service growth is a key short-term pressure factor [1][3] - The firm has reduced its forecast for new 5G base stations by 8,000 units by December 2025, with expectations for 540,000 and 500,000 new base stations in 2026 and 2027, respectively, reflecting a cautious capital expenditure trend among operators [3] Group 2 - The report acknowledges China Mobile's strategic layout in innovative business areas, expecting significant growth from large-scale computing expansion and AI ecosystem coverage [3] - Despite the potential in innovative businesses, traditional communication services still account for over 70% of revenue, which is expected to have a greater impact on overall profitability in the short term [3] - As of the report date, China Mobile's stock price was HKD 78.4, indicating a 12% upside potential compared to the target price, with a recommendation for investors to remain cautious until clearer catalysts emerge [3]

Core Viewpoint - Goldman Sachs has downgraded China Mobile's target price from HKD 105 to HKD 88 and changed its rating from "Buy" to "Neutral" due to a slowdown in 5G service growth and lower-than-expected new 5G base station additions [1] Group 1: Company Valuation and Rating - China Mobile's current valuation is considered reasonable according to Goldman Sachs [1] - The target price has been adjusted to HKD 88, reflecting a more cautious outlook [1] - The rating has been downgraded from "Buy" to "Neutral" [1] Group 2: 5G Service Growth - The growth of 5G telecom services is experiencing a continuous slowdown [1] - Goldman Sachs estimates that by December 2025, the number of new 5G base stations in China will be 8,000 lower than previously forecasted [1] - The firm projects a year-on-year decline in new 5G base stations of 8% and 7% for 2026 and 2027, respectively, reaching 540,000 and 500,000 [1] Group 3: Innovation Business Outlook - Goldman Sachs maintains a positive outlook on China Mobile's expansion into innovative business areas [1] - Future growth in innovative services is expected to be supported by the continuous expansion of large-scale computing power and the coverage of AI ecosystems [1]

Core Viewpoint - Goldman Sachs has downgraded China Mobile's target price from HKD 105 to HKD 88 and changed its rating from "Buy" to "Neutral" due to a slowdown in 5G service growth and lower-than-expected new 5G base station additions [1] Group 1: Company Valuation and Rating - China Mobile's current valuation is considered reasonable according to Goldman Sachs [1] - The target price has been adjusted to HKD 88, reflecting a more cautious outlook [1] - The rating change to "Neutral" indicates a shift in sentiment towards the stock [1] Group 2: 5G Service Growth - The growth of 5G telecom services is experiencing a continuous slowdown [1] - Goldman Sachs estimates that by December 2025, the number of new 5G base stations in China will be 8,000 lower than previously forecasted [1] - The firm projects a year-on-year decline in new 5G base stations of 8% and 7% for 2026 and 2027, respectively, reaching 540,000 and 500,000 [1] Group 3: Innovation Business Outlook - Goldman Sachs maintains a positive outlook on China Mobile's expansion into innovative business areas [1] - Future growth in innovative services is expected to be supported by the expansion of large-scale computing power and the coverage of AI ecosystems [1]

Core Viewpoint - Goldman Sachs maintains a positive outlook on China Mobile's expansion from traditional telecom services to innovative businesses, despite a slowdown in 5G telecom service growth [1] Group 1: 5G Service Growth - The growth of 5G telecom services is continuing to slow down, with the latest data indicating that the number of new 5G base stations in the Chinese industry by December 2025 is expected to be 8,000 lower than previously estimated [1] - It is projected that the number of new 5G base stations in 2026 and 2027 will decline by 8% and 7% year-on-year, reaching 540,000 and 500,000 respectively [1] Group 2: Innovative Business Growth - The firm expects continued growth in innovative businesses, primarily supported by the ongoing expansion of large-scale computing power and the coverage of the AI ecosystem [1] Group 3: Valuation and Rating - China Mobile's current valuation is considered reasonable, with the target price adjusted from HKD 105 to HKD 88, and the rating downgraded from "Buy" to "Neutral" [1] - The outlook on the stock could become more optimistic if there are improvements in 5G user ARPU, better-than-expected growth in innovative businesses, or faster-than-expected progress in 6G telecom service commercialization [1]

"太感谢你们了，不然我在住院期间连家人都联系不上"1月29日上午，病床上的田奶奶握着吴忠移动营 业员买田田的手再三道谢，脸上绽放出欣慰的笑容。这温暖的一幕，源于一通来自医院的紧急求助电 话。 从接到求助到抵达病床前解决完问题，全程仅用1小时，吴忠移动营业员用及时响应化解了老人的燃眉 之急，更让在场医护人员对移动服务竖起了大拇指。这场"零距离"服务，正是吴忠移动践行"客户诉 求，高效响应"十项服务承诺的生动缩影。自2025年以来，吴忠移动始终秉持"客户为根、服务为本"的 核心理念，推进常态化上门服务机制，让移动服务走出营业厅，走进用户最需要的地方。 为帮助一位八十多岁老人解决电视调试难题，吴忠移动青铜峡营业厅建立专项服务档案，帮助用户调试 电视、优化信号，用耐心与坚守赢得老人全家的长期信赖。2025年吴忠移动7家自有营业厅累计开展上 门服务超百余次，涵盖补卡、办业务、设备调试、套餐讲解等多元化服务，让"服务多跑路、用户少跑 腿"真正落地见效。 （责任编辑：康玲华） 当日，中国移动宁夏公司吴忠分公司同心营业厅的咨询电话骤然响起，电话那头是一位姓田的老奶奶， 因生病住院行动不便，手机却突然无法正常使用，急需通信服务 ...

工作指引专门就"四风"实质特征进行提炼总结，其中针对形式主义、官僚主义提炼出重虚轻实、重上轻 下、重权轻责三方面共有特性，针对享乐主义、奢靡之风提炼出重享受轻奋斗、重物欲轻精神、重私利 轻公义三方面共有特性，指导各所属单位从共有特性出发，紧盯重点关注事项深入核查，精准有力识别 并查处"四风"问题。针对各所属单位查办"四风"案件时存在的核查关键要素缺失、证据链不完整等问 题，系统梳理"四风"常见表现，形成30个典型场景，分门别类明确198个必问必核事项，推动各所属单 位在开展核查时按图索骥。 聚焦风腐表征，提升由风及腐穿透性。针对各所属单位对是否风腐同查把握不准、如何风腐同查缺乏思 路等问题，结合近几年查处的风腐一体案件，总结出"对特定事项一反常态""对与工作无关的社交应酬 格外热衷"等风腐方面表征，推动所属单位在查处过程中重点关注"决策一言堂、用人一句话、用钱一支 笔、项目一手抓"典型现象及违纪行为的长期性、人员的固定性、次数的高频性等因素，严查不正之风 背后潜藏的腐败问题。从本人、家人、单位作风三个维度，提炼"作风霸道、独断专行""管束不严、家 风不正""纪律松弛、歪风盛行"等方面共性表征，指导所属单位在查 ...

Group 1 - The top three companies by Hong Kong Stock Connect holding ratio are China Telecom (00728) at 71.46%, Green Power Environmental (01330) at 68.82%, and Haotian International Construction Investment (01341) at 68.17% [1] - The latest holding ratio rankings for the top 20 companies show significant ownership levels, with China Telecom leading at 99.18 billion shares [1] - The recent five trading days saw Tencent Holdings (00700) increase its holding by 51.95 billion, Southbound Hang Seng Technology (03033) by 17.79 billion, and Xiaomi Group-W (01810) by 15.84 billion [1] Group 2 - The top three companies with the largest decrease in holdings over the last five trading days are Yingfu Fund (02800) with a decrease of 35.48 billion, SMIC (00981) with a decrease of 23.60 billion, and Zhaojin Mining Industry (01818) with a decrease of 6.58 billion [3] - Other notable companies in the reduction list include Huahong Semiconductor (01347) with a decrease of 6.56 billion and CSPC Pharmaceutical Group (01093) with a decrease of 5.59 billion [3] - The data reflects significant trading activity and shifts in investor sentiment within the Hong Kong stock market [2]

Core Viewpoint - The article discusses the implementation of the Ministry of Industry and Information Technology's (MIIT) initiative "Clear Handling, Safe Use" for telecom services, which aims to simplify package changes and enhance transparency in pricing starting from January 1, 2026 [1]. Group 1: Implementation of New Regulations - Telecom operators are required to provide equal convenience for online and offline package changes, allowing users to downgrade their plans through mobile apps without needing to visit physical stores [1][2]. - Users can easily navigate the official app to find options for changing their packages, including low-cost basic plans [2]. Group 2: Customer Service Improvements - If users cannot find the option to downgrade in the app, they can contact online customer service and reference the new regulations to expedite the process [4][5]. - Mentioning the possibility of filing a complaint with the MIIT often leads to immediate resolution of issues with customer service [5]. Group 3: Transparency in Pricing - The new regulations mandate telecom operators to clearly display pricing information, including monthly fees, data limits, and contract terms, in a dedicated section of their apps [5]. - Following the MIIT's initiative, complaints in the telecom sector decreased by 21.74% in the second half of 2025, indicating improved customer satisfaction [5][6]. Group 4: Consumer Empowerment - Users have reported successfully downgrading their plans to significantly lower prices, demonstrating increased consumer autonomy in managing telecom services [6].