证券代码：600050 证券简称：中国联通 公告编号：2025-039 中国联合网络通信股份有限公司 第八届董事会第十六次会议决议 公 告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 （一）本次董事会会议的召开符合法律、行政法规、部门规章、规范性 文件和《公司章程》的规定。 （二）本次会议的会议通知于2025年8月22日以电子邮件形式通知了公司 全体董事、监事以及其他参会人员。所有参会人员确认已经充分了解并知悉 会议审议事项和内容，无任何异议。 （三）本次会议于2025年8月28日以通信方式召开。 （四）会议应出席董事13名，亲自出席董事13名。会议出席情况符合《公 司章程》的规定。 二、董事会会议审议情况 会议审议通过了《关于中国联通"十四五"总结评估报告的议案》。 本议案已经董事会发展战略委员会事前审议通过。 （同意：13 票 反对：0 票 弃权：0 票） 1 特此公告。 中国联合网络通信股份有限公司 董事会 二〇二五年八月二十八日 2 ...

Market Performance - On August 28, the communication services sector rose by 1.28%, with Sanwei Communication leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - Sanwei Communication (002115) closed at 9.52, with a gain of 10.06% and a trading volume of 970,900 shares, amounting to a transaction value of 917 million [1] - Other notable performers included Wajingke (301380) with a 4.18% increase, and Chaoxun Communication (603322) with a 3.85% increase [1] Fund Flow Analysis - The communication services sector experienced a net outflow of 261 million from institutional investors and 454 million from speculative funds, while retail investors saw a net inflow of 715 million [2][3] - Sanwei Communication had a net inflow of 442 million from institutional investors, but a net outflow of 224 million from speculative funds [3]

Core Viewpoint - China Unicom's stock has shown a positive trend with a 2.12% increase on August 28, resulting in a transaction volume of 3.83 billion yuan and a total market capitalization of 180.4 billion yuan [1] Financial Performance - In 2024, China Unicom reported a revenue of 200.2 billion yuan, reflecting a year-on-year growth of 1.45%, while the net profit attributable to shareholders was 6.35 billion yuan, up 5.12% year-on-year [8] - The company achieved a significant increase in cloud services revenue, reaching 26.87 billion yuan, which is a 142% increase year-on-year, and IDC revenue of 18.61 billion yuan, up 12.9% year-on-year [2] Business Strategy - China Unicom is focusing on enhancing its digital economy capabilities, positioning itself as a leader in digital information infrastructure and services [8] - The company has launched the "Smart Home" initiative, which integrates various communication services for family customers, promoting a comprehensive service model [3] Market Position - China Unicom is classified as a state-owned enterprise, with its ultimate control held by the State-owned Assets Supervision and Administration Commission of the State Council [2] - The company is part of the telecommunications sector, specifically categorized under communication services and telecom operators [8] Shareholder Information - As of June 30, 2025, China Unicom had 556,900 shareholders, with an average of 55,248 shares held per shareholder, indicating a slight increase of 6.41% from the previous period [8] - The company has distributed a total of 35.54 billion yuan in dividends since its A-share listing, with 12.43 billion yuan distributed over the last three years [9]

Core Viewpoint - The issuance of satellite internet business licenses to major telecom operators in China marks the beginning of commercial operations in the satellite internet industry, presenting new growth opportunities for the sector [1]. Group 1: Market Performance - As of August 28, 2025, the China Telecom Theme Index (931235) rose by 1.75%, with key stocks such as Changfei Fiber (601869) increasing by 10.00%, Tianfu Communication (300394) by 9.65%, and Xinkai Mobile (688387) by 9.52% [1]. - The Telecom ETF Fund (560690) also saw an increase of 1.73%, with the latest price reported at 1.76 yuan [1]. Group 2: Industry Developments - The relevant authorities are set to officially issue satellite internet business licenses to China Mobile, China Telecom, and China Unicom, along with China Satellite Network Group and Shanghai Yuanxin Satellite Technology Co., marking a significant step in the commercialization of satellite internet in China [1]. - The AI wave is expected to significantly benefit telecom operators through performance growth and value reassessment driven by intelligent computing services [1]. Group 3: Index Composition - As of July 31, 2025, the top ten weighted stocks in the China Telecom Theme Index (931235) include China Unicom (600050), China Mobile (600941), and China Telecom (601728), collectively accounting for 78.18% of the index [2].

Core Viewpoint - The three major telecom operators in China are actively entering the satellite internet sector, supported by recent government guidelines aimed at optimizing the satellite communication industry by 2030 [1][2]. Group 1: Government Guidelines - The Ministry of Industry and Information Technology issued guidelines to enhance the satellite communication management system and promote the integration of satellite communication into the new development framework, aiming for over 10 million satellite communication users by 2030 [1]. - The guidelines encourage telecom operators to collaborate with satellite companies to explore the potential of high-orbit satellites like Tiantong and Beidou, promoting direct satellite connections for mobile devices [1]. Group 2: Major Telecom Operators' Initiatives - China Mobile has launched two low-orbit experimental satellites in 2023, including the world's first satellite capable of verifying 5G integrated technology [2]. - China Telecom plans to offer direct satellite connection services for mobile phones and cars, having overcome key technical challenges in satellite communication [2][3]. - China Unicom has successfully launched four low-orbit satellites and aims to integrate satellite communication with the Internet of Vehicles through strategic partnerships [3]. Group 3: Challenges in Satellite Internet Development - The development of satellite internet faces challenges such as differences in satellite-ground network architecture, high network construction costs, and performance gaps compared to terrestrial networks [4]. - China Mobile is working on a technology system to reduce the number of satellites needed for integrated networks and lower costs by 10% per satellite [5]. Group 4: Strategic Importance of Satellite Internet - The shift towards satellite internet is seen as a strategic necessity for telecom operators, marking a fundamental change from previous focuses on terrestrial mobile communication [6]. - The collaboration between telecom operators and satellite companies is expected to accelerate the commercialization of low-orbit satellite constellations, leveraging the operators' extensive user base and established sales channels [6].

Core Viewpoint - The Ministry of Industry and Information Technology (MIIT) of China has issued guidelines to optimize business access and promote the development of the satellite communication industry, aiming for significant advancements by 2030, including the integration of satellite communication into the new development pattern and the growth of satellite communication users to over 10 million [1] Group 1: Industry Development - By 2030, the satellite communication management system and policies will be further improved, with a continuous optimization of the industry development environment [1] - The guidelines encourage telecom operators to explore the potential of high-orbit satellite applications and promote the direct connection of mobile devices to satellites [1] - The integration of satellite communication with terrestrial mobile communication is emphasized to enhance service quality and user experience [1] Group 2: Major Telecom Operators - Major telecom operators, including China Mobile, China Telecom, and China Unicom, have all deployed satellite internet services [2] - China Mobile plans to open its mobile direct satellite connection service to the public once it obtains the necessary operational qualifications [2] - China Telecom has launched mobile direct satellite services and plans to introduce "automobile direct satellite" services in 2024 [2][3] - China Unicom has successfully launched four low-orbit satellites and is working on integrating satellite communication with vehicle networking [3] Group 3: Challenges and Solutions - The development of mobile direct satellite broadband services faces three main challenges: coordination difficulties between satellite and terrestrial network architectures, high network construction costs, and performance gaps between satellite and terrestrial networks [4] - To address these challenges, China Mobile is developing a flexible and efficient satellite-terrestrial collaborative network and has proposed an innovative technology system to reduce the number of satellites needed for network construction [5] - A digital twin system is being created to simulate satellite operations, aiming to significantly improve system performance during various stages of satellite networking [5] Group 4: Strategic Importance - The shift towards satellite internet is seen as a strategic necessity for telecom operators as they transition from focusing solely on terrestrial mobile communication to integrating satellite services [6] - The collaboration between telecom operators and satellite companies is expected to accelerate the commercialization of low-orbit satellite constellations, leveraging the operators' extensive user base and established sales channels [6]

Core Points - The 2025 China International Service Trade Fair's sports service section will take place from September 10 to 14, covering an exhibition area of 7,650 square meters, with the theme "Event City, Linking the World" [1] - The event aims to showcase new technologies, business models, and achievements in the sports sector, focusing on resource aggregation, technological empowerment, industry integration, and global service collaboration [1][2] - Over 60 offline exhibitors and more than 350 online exhibitors are participating, including 24 Fortune Global 500 companies, with international representation from over ten countries [1][2] Group 1: Event Highlights - The sports service section will feature a public open day on September 13-14, offering over 50 interactive events, including esports racing and basketball matches [1][4] - The main forum will focus on high-quality development in the sports event economy, with the release of the "2024 China Sports Service Trade Development Report" [4] - The event will also include sub-forums on outdoor sports and ice and snow economy development, as well as innovation and entrepreneurship in sports [4] Group 2: Technological Innovations - The event will highlight technological advancements in sports services, showcasing companies with strong intellectual property and international standards [2][5] - China Unicom will launch the "FOLO福禄球" project, integrating AI and MR technology for a new sports experience that promotes industry consumption upgrades [5][6] - Other companies, such as Orange Lion Sports and Tencent, will present their innovations in AI visual algorithms and interactive gaming experiences, respectively [6]

Core Insights - The communication sector is experiencing significant growth, with the Guozheng Communication Index rising by 4.49% and individual stocks like Shijia Photon increasing by 19.72% [1] - The recent policy direction from the State Council emphasizes the integration of AI with the communication industry, which is expected to create new applications and enhance infrastructure [3][4] Group 1: Market Performance - The Communication ETF (159695) has seen a 3.97% increase, with a weekly cumulative rise of 9.69%, ranking first among comparable funds [1][3] - The ETF's trading volume was active, with a turnover rate of 12.54% and a total transaction value of 20.63 million yuan [3] - The ETF's latest scale reached 160 million yuan, marking a one-year high, and its shares reached 89.81 million, also a one-month high [3] Group 2: Financial Performance - New Yi Sheng reported a revenue of 10.437 billion yuan, a year-on-year increase of 282.64%, and a net profit of 3.942 billion yuan, up 355.68% [4] - The Communication ETF has achieved a net value increase of 92.52% over the past year, ranking 254 out of 2977 in the index stock fund category [3] Group 3: Industry Trends - The integration of AI technology in the communication sector is creating new application scenarios, such as intelligent communication network optimization and AI-based fault prediction [4][5] - The rise of low-altitude economy is driving demand for low-altitude communication networks, expanding market opportunities for the communication industry [5] - The top ten weighted stocks in the Guozheng Communication Index account for 61.8% of the index, indicating concentrated investment in key players [5][7]

Core Viewpoint - China Unicom's Xiong'an Internet Industry Park (Phase I) has officially commenced operations as part of the market-oriented relief project in the Xiong'an New Area, aimed at supporting high-quality development and innovation in the region [1][4]. Group 1: Project Overview - The Xiong'an Internet Industry Park is located in the key area of the Xiong'an New Area, which is designated for the initial construction and implementation of Beijing's non-capital function relief projects [1]. - The project is a significant initiative by China Unicom to actively contribute to the coordinated development of the Beijing-Tianjin-Hebei region and the high-standard construction of the Xiong'an New Area [1]. Group 2: Technological Focus - The park aims to establish a technology innovation center for China Unicom in the Xiong'an New Area, focusing on creating a "frontier technology application demonstration zone" [3]. - Key areas of development include next-generation information technologies such as IPv6, HarmonyOS, and low-altitude intelligent networking applications [3]. - The park will feature smart facilities and functions tailored to intelligent office and living needs, including smart meeting rooms, environmental monitoring, and intelligent attendance systems [3]. Group 3: Operational Management - The use of AI algorithms and digital twin technologies will enable comprehensive perception, intelligent judgment, and timely response to the operational conditions of the park [3]. - The management system will cover various scenarios such as security linkage, vehicle intelligent monitoring, equipment operation management, and emergency command, ensuring a "visible, manageable, and controllable" overall management approach [3].

Group 1 - The Ministry of Industry and Information Technology (MIIT) is set to issue "satellite internet" licenses, which has generated significant interest and inquiries among the public [2] - A business license is a legal permit issued by the government or regulatory bodies that allows organizations or individuals to conduct specific commercial activities, ensuring market access and compliance with regulations [3] - The MIIT's role includes issuing licenses for telecommunications and internet services, ensuring that companies have the necessary technical capabilities and compliance qualifications to operate legally [3] Group 2 - The upcoming satellite internet licenses are expected to fill gaps in existing licenses for China Unicom and China Mobile, allowing them to legally conduct satellite-based mobile services [6] - Companies like Xingwang and Yuanshin are likely to obtain A13-1/2 operational licenses, which would significantly benefit their business development, especially for Yuanshin's focus on satellite internet services along the Belt and Road countries [6] - The rapid deployment of China's satellite constellation, particularly by Xingwang, is anticipated to enhance the country's satellite internet capabilities, with the issuance of operational licenses expected to accelerate the development of this sector [7][8]