会议期间，淄博移动组建专业保障团队24小时值守，前后台联动实时监控网络负载、接入成功率等关键指标，确保语音通话清晰、数据传输稳定、高清直 播流畅无卡顿。大会全程实现通信"零故障、零中断、零投诉"，为代表履职、媒体传播、会务协同提供了高效可靠的数字支撑。 "保障两会通信畅通，是我们的政治责任，更是践行'心级服务'理念的具体体现。"淄博移动桓台分公司副总经理刘鹏表示，"我们不仅用应急通信车和全天 候值守筑牢网络基础，更通过5G+VR等新技术拉近两会与群众的距离。未来，我们将把此次保障经验转化为常态化服务能力，持续优化县域5G网络布 局，拓展数字政务、智慧民生等应用场景，以更强的数字动能助力桓台高质量发展。" 本次两会引入5G+VR全景直播技术。依托高速、低时延的5G网络，观众通过手机沉浸式观看开幕式，让群众能"身临其境"感受两会热度、聆听政策声 音。 2月2日至4日，桓台县两会在东岳大酒店召开。为全力保障大会通信畅通、信息高效传递，山东移动桓台分公司以"最高标准、最严要求、最优服务"开展 网络保障，创新运用5G+VR全景直播技术，让两会声音"零距离"触达千家万户，彰显了央企在数字时代服务民生、支撑政务的坚实力量。 ...

Core Insights - China Mobile has launched a new smart home AI product called "Lingxi Screen," which aims to redefine the family AI experience by integrating various functionalities such as entertainment, education, and communication into a single device [1] Group 1: Product Features - The "Lingxi Family Intelligent Body" at the core of the Lingxi Screen enables proactive understanding and interaction, allowing users to issue commands like booking flights or recommending movies with ease [2] - The device features a portable design with a built-in battery, allowing it to be used in various settings such as living rooms, bedrooms, and kitchens, thus breaking spatial limitations [3] Group 2: Ecosystem Integration - Lingxi Screen integrates multiple devices including smart TVs, smart speakers, learning tablets, office computers, and video phones, creating a comprehensive smart home ecosystem that caters to different family members' needs [4] - The product supports various services such as health monitoring for the elderly, interactive learning for children, and entertainment options for young adults, positioning itself as a central hub for smart home control [4] Group 3: Future Developments - China Mobile plans to continue collaborating with industry partners to innovate and expand the applications of the Lingxi Screen, aiming for ongoing upgrades and enhancements to facilitate smarter living for families [4] - The Lingxi Screen is set to begin trial commercialization in multiple regions across the country starting January 1, 2026, with users able to access it through various official channels [4]

Core Insights - The "2025 Hurun China 500" report highlights TSMC as the highest-valued private enterprise in China, with a valuation increase of 3.5 trillion RMB, reaching 10.5 trillion RMB [1][4] - Tencent follows as the second highest, with a valuation growth of 1.9 trillion RMB, totaling 5.3 trillion RMB [1][4] - ByteDance ranks third, increasing its value by 1.8 trillion RMB to 3.4 trillion RMB [1][4] - Xiaomi enters the top ten for the first time, with a valuation increase of 357 billion RMB, reaching 1 trillion RMB [1][4] Top Ten Private Enterprises - TSMC: Valuation of 105,000 million RMB, growth of 50% [2][5] - Tencent: Valuation of 53,300 million RMB, growth of 56% [2][5] - ByteDance: Valuation of 34,000 million RMB, growth of 109% [2][5] - Alibaba: Valuation of 27,000 million RMB, growth of 75% [2][5] - CATL: Valuation of 18,600 million RMB, growth of 59% [2][5] - Pinduoduo: Valuation of 13,200 million RMB, growth of 16% [2][5] - Ping An Insurance: Valuation of 10,500 million RMB, decline of 15% [2][5] - Xiaomi: Valuation of 10,000 million RMB, growth of 56% [2][5] - BYD: Valuation of 8,720 million RMB, growth of 10% [2][5] - Huawei: Valuation of 8,500 million RMB, growth of 25% [2][5] Top Ten State-Owned Enterprises - Agricultural Bank: Valuation of 202,000 million RMB [3][6] - Industrial and Commercial Bank: Valuation of 274,000 million RMB [3][6] - State Grid: Valuation of 266,000 million RMB [3][6] - China National Railway Group: Valuation of 224,000 million RMB [3][6] - China Construction Bank: Valuation of 203,000 million RMB [3][6] - Kweichow Moutai: Valuation of 182,000 million RMB [3][6] - China Petroleum: Valuation of 176,000 million RMB [3][6] - Bank of China: Valuation of 170,000 million RMB [3][6] - China Mobile: Valuation of 175,000 million RMB [3][6] - CITIC Group: Valuation of 156,000 million RMB [3][6]

Core Viewpoint - The Hong Kong stock market has experienced increased volatility, particularly among the three major telecom operators, due to a tax reform announcement. China Mobile (00941.HK) is at a critical technical level, with intense competition between bulls and bears around a key price range [1]. Technical Analysis - As of February 3, China Mobile's stock price closed at 78.3 HKD, showing a slight increase of 0.38%. However, the overall technical pattern indicates clear signs of adjustment and potential reversal. The stock price has fallen below key moving averages (10-day at 79.29 HKD, 30-day at 80.84 HKD, and 60-day at 83.77 HKD), indicating ongoing short- to medium-term adjustment pressure [2]. - The Relative Strength Index (RSI) has dropped to 40, entering the traditional oversold territory, suggesting that selling pressure may have been over-released. Additionally, momentum indicators are signaling "buy," indicating that bullish forces are accumulating [2]. Support and Resistance Analysis - **Support Levels**: The first significant support level is at 76.7 HKD, which aligns with a psychological barrier and the low point formed after market sell-offs on February 2 (approximately 75.85 HKD). If this level is breached, the market may test a stronger second support level at 74.9 HKD, which is seen as the last solid defense for bulls [4]. - **Resistance Levels**: For a rebound to occur, the stock must first challenge the resistance at 80.4 HKD, which is near the 10-day and 30-day moving averages. A more critical resistance level is at 82.1 HKD, which is close to the 60-day moving average and is essential for reversing the current downtrend [5]. Market Reaction to Tax Reform - The recent volatility in China Mobile's stock is primarily driven by a tax adjustment announcement, which will increase the value-added tax rate on telecom services from 6% to 9% starting February 1, 2026. This change is expected to raise operational costs for telecom operators, impacting their revenue and profits in the short term, leading to a collective adjustment in telecom stocks on February 2 [5]. Investor Sentiment and Product Analysis - Following the tax rate announcement, there was a notable adjustment in related stocks, but by February 3, the market began to stabilize. China Mobile's stock rebounded from around 75 HKD to approximately 78.5 HKD, indicating that some investors believe the short-term negative factors have been absorbed [7]. - Investors are primarily using call options (e.g., China Mobile call option 24413) to bet on a rebound, while bearish investors may consider put options (e.g., China Mobile put option 21625) as a strategy [8]. Product Strategy Recommendations - **Bullish Strategy**: For investors anticipating a rebound, options like China Mobile call option 24413, which offers about 10.6 times leverage with a strike price of 88.88 HKD, are recommended. This option is suitable for betting on upward challenges to resistance levels [11]. - **Bearish Strategy**: For those expecting continued downward pressure, put options or bear certificates are suggested. For instance, the China Mobile put option 21625 has a strike price of 75.83 HKD, close to the first support level [12].

Group 1: Market Overview - On February 4, the Hong Kong stock market saw a net inflow of capital from Northbound trading amounting to HKD 133.73 billion, with HK Stock Connect (Shanghai) contributing HKD 73.93 billion and HK Stock Connect (Shenzhen) contributing HKD 59.8 billion [2] - The most net bought stocks included Tencent (00700), Alibaba-W (09988), and Southern Hang Seng Technology (03033), while the most net sold stocks were SMIC (00981) and Hua Hong Semiconductor (01347) [2][8] Group 2: Stock Performance - Tencent Holdings received a net inflow of HKD 20.66 billion, with a buy amount of HKD 52.05 billion and a sell amount of HKD 31.40 billion [3] - Alibaba-W had a net inflow of HKD 2.16 billion, with a buy amount of HKD 16.82 billion and a sell amount of HKD 14.66 billion [3] - SMIC experienced a net outflow of HKD 2.76 billion, with a buy amount of HKD 8.86 billion and a sell amount of HKD 11.62 billion [3] Group 3: Sector Insights - The telecommunications sector, including China Mobile, is facing pressure from an increase in value-added tax rates, which is expected to impact net profits by 2026 [7] - The optical fiber industry is experiencing a price increase trend, with expectations of continued price growth due to rising demand from telecom operators and pre-holiday stockpiling [7] - Xiaomi Group-W reported a net inflow of HKD 7.65 billion, attributed to strong electric vehicle deliveries and ongoing investments in AI and robotics [6] Group 4: Strategic Developments - Junda Co. (钧达股份) has signed a strategic cooperation framework agreement with Shangyi Optoelectronics to develop flexible perovskite technology for space applications [8] - Bubble Mart (泡泡玛特) announced plans to establish its European headquarters in London, with plans to open 27 new stores in the UK, creating over 150 jobs [7]

沪港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 腾讯控股(00700) | 72.56 亿元 | +1.66 亿元 | | 阿里巴巴-W(09988) | 29.45 亿元 | +9.55 亿元 | | 中芯国际(00981) | 16.87 亿元 | -4.31 亿元 | | 小米集团-W(01810) | 13.46 亿元 | +4.31 亿元 | | 南方恒生科技(03033) | 12.11 亿元 | +11.23 亿元 | | 美团-W(03690) | 10.53 亿元 | +4.04 亿元 | | 长飞光纤光缆(06869) | 10.05 亿元 | -476.84 万元 | | 快手-W(01024) | 7.68 亿元 | +2.21 亿元 | | 钧达股份(02865) | 6.75 亿元 | +7011.29 万元 | | 华虹半导体(01347) | 6.15 亿元 | -2.36 亿元 | 智通财经APP获悉，2026年2月4日当天，腾讯控股(00700)、阿里巴巴-W(09988)、中芯国际(00981)位居 ...

来源：智通财经 智通财经2月4日讯（编辑 冯轶）据Wind数据显示，南向资金今日成交约1140.75亿港元，较前一日继续 缩量约123亿；约占今日恒指成交总额的39.97%，占比继续低于四成。 腾讯控股今日跌3.96%，资金前5日加仓458万股，短线保持流入趋势。 阿里巴巴-W今日跌0.93%，资金前5日减持792万股，短线仍以流出为主。 小米集团-W今日跌1.85%，资金前5日加仓4020万股，短线保持流入趋势。 美团-W今日跌1.13%，资金前5日减持410万股，但近两日连续回流。 但值得关注的是，南向资金今日大举净流入约133.73亿港元，创1月22日以来近两周新高。其中，沪港 股通净流入约73.93亿港元，而深港股通净流入约59.80亿港元。 且趋势上，南向资金已连续5个交易日保持流入，成为港股短线回调中的一股做多力量，累计买入 238.27亿港元。 个股方面，交易所数据显示，今日南向资金 大幅净买入：腾讯控股(0700.HK)22.31亿港元；阿里巴巴-W(09988.HK)11.71亿港元；小米集团- W(01810.HK)7.66亿港元；美团-W(03690.HK)4.04亿港元；中国移动(00 ...

Core Viewpoint - The Hong Kong stock market experienced significant net inflows from northbound capital, totaling HKD 133.73 billion, with major contributions from Tencent, Alibaba, and Southern Hang Seng Technology, while SMIC and Hua Hong Semiconductor faced the highest net outflows [1]. Group 1: Northbound Capital Inflows - Tencent Holdings (00700) received a net inflow of HKD 52.05 billion, with total trading volume of HKD 83.45 billion, reflecting a net increase of HKD 20.66 billion [2]. - Alibaba-W (09988) saw a net inflow of HKD 16.82 billion, with total trading volume of HKD 31.47 billion, resulting in a net increase of HKD 2.16 billion [2]. - Southern Hang Seng Technology (03033) attracted a net inflow of HKD 11.67 billion, contributing to the overall positive sentiment in the tech sector [4]. Group 2: Notable Net Outflows - SMIC (00981) experienced a net outflow of HKD 8.86 billion, with total trading volume of HKD 20.47 billion, indicating a net decrease of HKD 2.76 billion [2]. - Hua Hong Semiconductor (01347) faced a net outflow of HKD 1.90 billion, with total trading volume of HKD 6.15 billion, reflecting a significant decline [4]. Group 3: Sector Performance and Trends - The telecommunications sector, represented by China Mobile (00941), saw a net outflow of HKD 3.5 billion, attributed to anticipated pressure on net profits due to an increase in value-added tax rates [5]. - The optical fiber industry, led by Changfei Optical Fiber (06869), is experiencing a price increase trend, with expectations of continued growth driven by demand from telecom operators [6]. - Xiaomi Group (01810) reported a net inflow of HKD 7.65 billion, supported by strong electric vehicle delivery performance and ongoing investments in AI and robotics [5].

Group 1 - Tencent Holdings and China Mobile received net purchases of HKD 20.66 billion and HKD 3.51 billion respectively through the Hong Kong Stock Connect (Shanghai) [1] - Semiconductor Manufacturing International Corporation (SMIC) had the highest net sell amount, totaling HKD 2.76 billion in the Hong Kong Stock Connect (Shanghai) [1] - Southern Hang Seng Technology and Alibaba-W received net purchases of HKD 11.23 billion and HKD 9.55 billion respectively through the Hong Kong Stock Connect (Shenzhen) [1] Group 2 - SMIC also had the highest net sell amount in the Hong Kong Stock Connect (Shenzhen), amounting to HKD 4.31 billion [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年1月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國移動有限公司 | | | 呈交日期: | 2026年2月4日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00941 | | 說明 | 於香港聯交所上市的股份（「香港股份」） | | | | | | 多櫃檯證券代號 | 80941 | RMB | 說明 | 香港股份 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | | 已發 ...