Core Insights - The integration of artificial intelligence (AI) with mobile communication is expanding the boundaries of the information and communication industry, leading to new growth opportunities [1][2][3] - The development of AI technologies and their applications in various sectors, including telecommunications, is rapidly evolving, with significant advancements in smart devices and services [2][3][4] Industry Developments - In the first five months of this year, telecommunications revenue in China reached 748.8 billion yuan, marking a 1.4% year-on-year increase, driven by the growth of 5G and gigabit optical networks [1] - The number of 5G base stations in China reached 4.486 million by the end of May, accounting for 35.3% of all mobile base stations, with 5G mobile phone users totaling 1.098 billion, representing 60.8% of mobile phone users [7][8] Technological Innovations - The Shanghai World Mobile Communication Conference showcased various AI-driven technologies, including humanoid robots, electronic guide dogs, and smart connected vehicles, highlighting the transformative impact of AI on daily life [2][5][6] - China has developed 433 large models for AI applications, emphasizing the country's advancements in open-source, low-cost, and high-efficiency AI solutions [3] Future Trends - The concept of "carbon-silicon fusion" is emerging, where AI technologies are expected to enhance the integration of energy and information, leading to new forms of intelligent life and societal roles [4][6] - The telecommunications industry is transitioning towards a more integrated network that combines satellite and ground networks, enhancing overall connectivity and enabling advanced applications such as immersive XR and industrial automation [8]

Core Insights - China Mobile has established a new artificial intelligence company named Jiutian Artificial Intelligence Technology (Beijing) Co., Ltd with a registered capital of 2 billion RMB [1] - The company is fully owned by China Mobile Communications Corporation [1] Company Overview - The legal representative of the new company is Chen Hongtao [1] - The business scope includes engineering and technology research and experimental development, AI industry application system integration services, general AI application systems, AI foundational resources and technology platforms, AI public data platforms, AI theories and algorithm software development, network and information security software development, and IT consulting services [1]

Group 1 - INMO GO2 has successfully entered 13 prefecture-level cities in Jiangsu Province through China Mobile's demonstration halls, marking a significant step in the company's deepening layout within the operator system [1][4] - The strategic partnership between Yingmu Technology and China Mobile, established in April 2025, is the first deep collaboration in the smart glasses industry, leveraging Yingmu's technological expertise and China Mobile's channel resources [1][4] - The INMO GO2 features translation capabilities supporting 40 languages and 90 accents, showcasing advanced technology for business scenarios, with a 500% year-on-year increase in order volume in Q1 2025 [4][6] Group 2 - The collaboration between Yingmu Technology and China Mobile enhances product reach and market penetration, allowing consumers to experience INMO GO2 conveniently at local mobile service centers [6][8] - Yingmu Technology aims to achieve a cumulative sales target of over one million units in the next three years, further solidifying its leading position in the smart wearable market [8] - The company also announced a partnership with Asia Glass to create the first AI smart product experiential shopping center in China, showcasing its products [6][8]

Core Viewpoint - The deployment of 10Gbps broadband, known as "10G optical network," is accelerating in China, with telecom operators launching "10G packages" in multiple cities, marking a significant upgrade from the existing gigabit broadband [1][2]. Group 1: Market Development - China's three major telecom operators have introduced "10G packages" targeting high-end households and enterprise users, with prices ranging from 999 to 1399 RMB per month [2]. - Over 70 global operators have launched "10G packages," indicating a growing trend in high-speed internet services [1]. Group 2: Technical Features - The 10G optical network offers ultra-large bandwidth, ultra-low latency, and high reliability, enabling seamless integration with new infrastructures like AI and IoT [2]. - Downloading a 100GB 8K movie takes 90 seconds with 10G broadband compared to 15 minutes with gigabit broadband, showcasing the significant speed advantage [2]. Group 3: Applications - The 10G optical network is applicable in various sectors, including industrial scenarios for smart manufacturing, where high-speed data transmission is crucial [3]. - In education, the network supports XR technology to create immersive learning environments, enhancing remote teaching capabilities [3]. Group 4: Policy and Initiatives - The Ministry of Industry and Information Technology in China has initiated pilot projects for the 10G optical network, aiming for implementation in key urban areas by the end of 2025 [3]. - Shanghai and Beijing have released action plans to accelerate the deployment of 10G networks, with significant projects already underway [3]. Group 5: Technological Maturity - Core technologies for the 10G optical network are becoming mature, with companies like ZTE and Huawei launching commercial equipment [5]. - The construction of the 10G optical network is still in the trial commercialization phase, with broader adoption dependent on technological breakthroughs and cost reductions [5].

6月28日，为庆祝中国共产党成立104周年，大力弘扬劳模精神、劳动精神和工匠精神，激励全体员工以 昂扬奋进的姿态助力公司高质量可持续发展，中国移动广西公司在南宁举行"坚定信心谋发展 以进促稳 开新局"2025年度"争先进位 担当有我"先进荣誉表彰大会，对2024-2025年度涌现的先进集体与个人进行 表彰，进一步强化榜样引领作用，凝聚奋进力量。自治区国资委主任尤莉莉，广西通信管理局副局长魏 艳出席表彰大会。中国移动广西公司总经理王一秋在会上致辞。 颁奖大会现场 来源：环球网 中国移动广西公司总经理王一秋致辞 会上，获表彰的先进代表分享了个人奋斗经历，激励全体员工坚定信心，汲取奋进的力量，积极攻坚克 难，驱动创新突破，以更饱满的热情和更务实的作风为谱写中国式现代化广西篇章贡献移动力量。大会 最后，全体领导与先进代表合唱《我爱你中国》，以嘹亮的歌声传递出广西移动人爱国爱党、砥砺奋进 的赤诚之心。 大会延续"担当、进取、创新"三大篇章的表彰模式，选取114人次在现场表彰，132人次视频表彰。其 中，"担当篇"奖项包括中国移动劳动模范、中国移动业务能手、担当作为奖、卓越员工等先进个 人；"进取篇"奖项包括中央企业先进 ...

Core Viewpoint - The company is enhancing its flood emergency communication capabilities through a comprehensive system that integrates technological and organizational innovations along with emergency drills to ensure stable communication during disasters [2]. Group 1: Emergency Preparedness - Prior to the flood season, the company conducted a practical drill for flood emergency communication support in 2025, utilizing a comprehensive simulation approach that included various scenarios of severe rainstorms [3]. - The drill featured a dual-line dispatch mechanism combining on-site and command center operations, leveraging the WAIMO smart operation platform for real-time monitoring and alerting, ensuring efficient command and decision-making [3]. Group 2: Technological Innovation - The company is leveraging 5G and artificial intelligence technologies to establish an intelligent flood prevention system, introducing a "transmission interruption analysis model" and a "network visualization orchestration platform" to reduce repair time by 20% [4]. - Big data analytics are employed to predict network congestion areas, allowing for dynamic resource allocation and showcasing new achievements in "smart flood prevention" [4]. Group 3: Emergency Response Structure - The company has developed a modern emergency support system characterized by scientific planning, professional teams, and intelligent equipment, with a dedicated emergency response team of 148 members [5]. - Over 100 pieces of equipment, including satellite phones and portable base stations, have been prepared, and a 24-hour duty system during the flood season is in place to ensure continuous monitoring and response [5].

Core Insights - Hubei Mobile is enhancing urban lighting systems in Yichang City by implementing smart streetlights that utilize a "demand-based lighting" approach, leading to energy savings and sustainable urban development [2][6] - The integration of AI and smart control systems allows for real-time monitoring and adjustment of streetlight brightness based on pedestrian and vehicle flow, improving energy efficiency [4][6] Group 1: Smart Lighting Implementation - Over 30,000 streetlights in Yichang have been equipped with smart control systems, resulting in an annual energy saving of over 6 million kilowatt-hours and a 40% reduction in energy consumption [6] - The "Zhongyi·Kunling Light Chain" smart platform consolidates data from streetlight operations, traffic flow, and weather conditions to optimize energy use [2][6] Group 2: AI and Data Utilization - The AI algorithms in the "Yichang Urban Lighting AI + Smart Dispatch System" allow for customized lighting solutions based on real-time data, enhancing the effectiveness of urban lighting [4][6] - The system can remotely control streetlight brightness and provides immediate alerts for any malfunctions, ensuring prompt management responses [4][6] Group 3: Urban Development and Future Plans - Hubei Mobile is committed to leveraging new information technologies to support urban renewal and high-quality development, contributing to the strategic growth of Central China [6]

Core Points - The China Securities Index Hong Kong 300 Relative Value Index (HK300RV) reported a value of 2042.09 points, with a monthly increase of 2.69%, a quarterly increase of 3.50%, and a year-to-date increase of 18.06% [1] - The index consists of four sub-indices: the China Securities Index Hong Kong 300 Growth Index, the China Securities Index Hong Kong 300 Value Index, the China Securities Index Hong Kong 300 Relative Growth Index, and the China Securities Index Hong Kong 300 Relative Value Index [1] - The top ten holdings of the HK300RV index include HSBC Holdings (15.54%), China Construction Bank (9.06%), Industrial and Commercial Bank of China (5.26%), China Mobile (5.14%), Alibaba Group (5.1%), Bank of China (3.72%), Ping An Insurance (3.42%), Xiaomi Group (2.41%), China Merchants Bank (2.39%), and China National Offshore Oil Corporation (2.34%) [1] - The index is fully composed of stocks listed on the Hong Kong Stock Exchange [1] Industry Breakdown - The industry composition of the HK300RV index shows that finance accounts for 52.42%, communication services for 9.07%, consumer discretionary for 7.59%, real estate for 6.63%, energy for 5.98%, information technology for 5.16%, industrials for 3.75%, utilities for 3.61%, consumer staples for 2.24%, healthcare for 2.10%, and materials for 1.44% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2] - The sample adjustment process allows for a maximum of 20% change in the sample composition for the China Securities Index Hong Kong 300 Value Index and the China Securities Index Hong Kong 300 Growth Index [2]

Core Viewpoint - The three major Chinese telecom operators plan to fully restart eSIM services in the second half of 2025 after a two-year suspension due to security concerns related to fraud [1][16]. Group 1: Current Status of eSIM Services - China Unicom has resumed eSIM functionality in 25 provinces including Tianjin, Beijing, and Hebei, with no confirmed dates for other cities [2]. - China Mobile is optimizing its system and will gradually open eSIM services nationwide, with specific timelines to be announced [3]. - China Telecom has not completed the upgrade for eSIM services and does not currently support activation, with the upgrade timeline still pending [4]. Group 2: Reasons for Suspension - The suspension of eSIM services was primarily due to concerns over fraud risks associated with the technology [7]. - eSIMs pose greater information security risks compared to traditional SIM cards, as the authentication process can be bypassed, making it easier for fraudsters to exploit the system [8][9]. - There have been instances of eSIMs being converted to physical SIM cards, leading to misuse and significant losses for telecom operators [11][14]. Group 3: Future Developments and Upgrades - Operators are preparing to restart eSIM services, focusing on system optimization to address compatibility issues [17]. - The reintroduction of eSIM services will implement stricter authentication measures, including dual verification through ID and facial recognition, to prevent fraudulent registrations [18]. - The return of eSIM technology is expected to revolutionize communication methods and reshape smartphone designs [19]. Group 4: User Experience and Benefits - eSIMs allow users to switch between different operators and plans without needing to change physical SIM cards, enabling seamless transitions [22]. - The removal of SIM card slots can enhance device design by saving space, improving waterproofing, reducing thickness, or increasing battery capacity [23]. - eSIMs facilitate easier international roaming by allowing users to purchase local data plans online upon arrival, reducing costs associated with traditional roaming [24]. - In IoT applications, eSIMs enable remote management and enhance security, reducing the risk of information theft [25].

Investment Rating - The report maintains a "Recommended" investment rating for the communication industry [1] Core Insights - The 2025 World Mobile Communication Conference (MWC) focused on key themes such as 5G integration, AI, and satellite communication, highlighting significant advancements in the industry [15][49] - The communication sector has shown resilience, outperforming major indices like the CSI 300 and the ChiNext Index in both weekly and year-to-date performance [8][9] - Key companies to watch include China Mobile, China Telecom, and China Unicom, with specific recommendations for various segments such as AI applications, satellite communication, and optical components [49][51] Summary by Sections Industry Overview - The communication industry consists of 124 listed companies with a total market capitalization of approximately 484.33 billion [3] - The sector's performance has been robust, with a 1.58% increase in the past week, outperforming the CSI 300 by 2.04 percentage points [8][9] MWC Highlights - Major announcements included the release of the "Agentic AI for Telco" white paper by China Mobile and several partners, outlining a framework for AI collaboration in telecommunications [15][16] - China Mobile introduced a series of AIoT products, emphasizing the integration of AI with IoT and satellite communications [21][22] - China Telecom showcased its cloud-network integration strategy, focusing on AI-driven applications across various sectors [25][27] Investment Recommendations - Recommended companies include: - Telecom Operators: China Mobile, China Telecom, China Unicom [51] - Optical Components: New Yisheng, Tianfu Communication, Zhongji Xuchuang [51] - Satellite Communication: Haige Communication, Shanghai Hanhua, Qiyi Er [51] - Equipment Manufacturers: Gongjin Co., Unisoc, ZTE, Ruijie Networks [51] - IoT Modules: Guanghetong, with a focus on AI applications [51]