从精细播种到高效灌溉，从科学施肥到田间智能管理……越来越多"数智动能"在田间地头大显身手，让农户从"靠天吃饭"到"知天而作"。 黄河水通过智能管网润泽良田，无人机守护水脉安澜，农民指尖轻点迎来丰收……黄河岸边，传统种植正焕发新生。 晨光之中，白鹇起舞；绿林深处，灵鹿跳跃……科技绘就自然保护区高精度"生态地图"，人与自然的"智能互联"。 一直以来，中国联通以新质生产力助力现代生态农业高质量发展，一系列智慧赋能不仅是助推建设农业强国的有力举措，更是实现生态可持续发展的关键 基石。 5G+AI,"大国粮仓"的智能"营养师" 初春时节，乍暖还寒，北方大地还没有返青，春耕的农人已经忙碌起来。在联通数智技术助力下，农业生产不仅处处"科技范"，更充实了"含绿量"。 传统的农业生产方式中对化肥、农药等化学物质的过度使用不仅导致土壤污染，破坏生态环境，影响农业可持续发展。在济宁市梁山县、汶上县，中国联 通利用联通元景大模型平台，把农业、气象、市场等多源数据整合起来，构建了玉米大豆全生命周期种植模型。该模型能根据作物生长阶段和土壤养分含 量，用算法模型给出超合理的施肥建议，就像给农田配了个"营养师"，让施肥管理变得又精准又省心， ...

先生们先生们大家下午好我是孟树森今天非常高兴能在这里与各位再次见面也非常感谢各位长期以来对中国联通的关心支持我仅代表公司管理层热烈欢迎大家出席中国联通2024年度业绩发布会今天的发布会有两个环节 首先是公司董事长的演讲然后是管理层与各位媒体投资者和分析师朋友的交流环节在交流期间管理层会回答业绩发布会讨论范围以内的问题如果因为时间关系我们还有一些感兴趣的问题没有在会上回答我们在会后会由公司投资者关系部积极进行跟进 本次发布会将以中文进行并且配有英文的同声传译会议期间请各位朋友将手机置于震动或关闭的状态首先请允许我介绍今天出席会议的公司董事会成员和管理层他们是董事长兼首席执行官陈忠岳先生 执行董事兼总裁简勤先生执行董事王俊智先生高级副总裁唐永博先生执行董事兼首席财务官李玉卓女士高级副总裁郝立谦先生 下面我们有请公司董事长兼首席执行官陈忠岳先生介绍公司2024年度业绩有请陈董事长尊敬的投资者分析师媒体朋友们女士们先生们大家好欢迎参加今天的发布会2024年中国联通聚焦 联网通信和上网数字两大主业推进网络向心技术向心服务向心高质量发展取得新突破营业收入稳健增长达到3896亿元同比提升4.6%增速领先行业盈利能力持续提升 ...

| 欧佩克公布月度 | 扮演的角色发表 | 报告。 | 与一场问答。 | 话。 | | --- | --- | --- | --- | --- | | 原油市场报告 | 讲话。 | · 10:00:00 | · 07:00:00 | · 2025-04-18 | | (月报具体公布 | ·07:40:00 | 国新办就国民经 | 2025年FOMC票 | 美股休市一日。 | | 时间待定,一般 | 2027年FOMC票 | 济运行情况举行 | 委、堪萨斯联储 | · 2025-04-18 | | 于北京时间18- | 委、亚特兰大联 | 新闻发布会。 | 主席施密德和达 | 旗下贵金属、美 | | 21点左右公 | 储主席博斯蒂克 | | 拉斯联储主席洛 | 国原油、外汇和 | | 布)。 | 就货币政策发表 | | 根就美国经济和 | 股指期货合约全 | | 国家能源局每月 | 讲话。 | | 银行业进行炉边 | 天交易暂停。 | | 15日左右公布全 | ·09:20:00 | | 谈话。 | · 2025-04-18 | | 社会用电量数 | 今日有1000亿 | | 国内成品油将开 | 港股休市一日, ...

中国联通：苗守野任副总经理、党组成员 金十数据4月11日讯，中国联通4月11日召开党组（扩大）会议，传达中央决定，苗守野同志任中国联合 网络通信集团有限公司副总经理、党组成员。相关任职事项按有关法律规定办理。 ...

二、持续提升股东回报 1 证券代码：600050 股票简称：中国联通 公告编号：2025-018 中国联合网络通信股份有限公司 关于积极推动"提质增效重回报"情况的公告 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个 别及连带责任。 中国联合网络通信股份有限公司（简称"中国联通"或"公 司"）聚焦主责主业、践行使命担当，着力增强核心功能、提 高核心竞争力，坚持推进高质量发展和"提质增效重回报"， 统筹积极有为的投资者关系以及合规有效的信息披露，强化市 值管理，致力于和广大投资者共享公司长期发展成果。 一、深入实施融合创新战略 中国联通深入实施融合创新战略，聚焦网络强国、数字中 国主责，拓展联网通信、算网数智业务，坚持拥抱智能、向新 而行，努力加快成为具有全球竞争力的世界一流科技服务企业。 2024 年，公司推进"网络向新、技术向新、服务向新"，高质 量发展取得新突破。2025 年，公司将着力实现创新动力更足、 能力优势更强、业务结构更优、经营效益更好、品牌形象卓著。 中国联通坚持战略引领与价值导向，持续推动提升上市公 司投资价值，着力 ...

Investment Rating - The investment rating for the company is "Accumulate" [6] Core Views - The company achieved a double-digit growth in net profit, with a total revenue of 389.59 billion yuan in 2024, representing a year-on-year increase of 4.6%. The net profit attributable to shareholders reached 9.03 billion yuan, up 10.5% year-on-year [1][6] - The company's focus on integrated communication and intelligent network services is expected to drive high-quality development and new breakthroughs in the future [6] Summary by Sections Financial Performance - In 2024, the company reported total revenue of 389.59 billion yuan, with service revenue of 345.98 billion yuan, marking a 3.2% increase year-on-year. The total profit reached 25.09 billion yuan, and the net profit attributable to shareholders was 9.03 billion yuan, reflecting a 10.5% growth [1][11] - The weighted average return on equity increased to 5.5% [1] Business Segments - The revenue from integrated communication services grew by 1.5% year-on-year, accounting for 76% of service revenue. The user base reached 470 million, with a net increase of 19.52 million users. The IoT connections exceeded 620 million, with a net increase of 13 million [2] - The intelligent network services revenue increased by 9.6% year-on-year, contributing 24% to service revenue. Cloud revenue was 68.6 billion yuan, up 17.1%, while data center revenue reached 25.9 billion yuan, up 7.4% [2] Investment Strategy - The company adopted a precise and moderate investment strategy, with capital expenditure of 61.37 billion yuan in 2024, a decrease of 17% year-on-year. However, investment in computing power increased by 19% [4] - The mobile network coverage reached 99%, benefiting millions of users, and the number of mobile network base stations exceeded 4.5 million [4] Shareholder Returns - The company proposed a final dividend of 0.0621 yuan per share (before tax), with a total annual dividend of 0.1580 yuan per share, reflecting a year-on-year increase of 19.7% [5] - For 2025, the company anticipates a fixed asset investment of around 55 billion yuan, with a 28% increase in computing power investment [5] Profit Forecast - The forecast for net profit attributable to shareholders for 2025-2027 is 9.87 billion yuan, 10.77 billion yuan, and 11.71 billion yuan, respectively, with a maintained "Accumulate" rating [6][11]

Group 1 - The core viewpoint of the news is that the China Securities 5G Industry 50 Index has experienced a decline, reflecting the performance of major companies in the 5G industry within the Chinese stock market [1] - The China Securities 5G Industry 50 Index opened lower and closed down by 0.26% at 1186.79 points, with a trading volume of 40.638 billion yuan [1] - Over the past month, the index has decreased by 8.46%, while it has seen a slight increase of 0.62% year-to-date [1] Group 2 - The index comprises 50 large-cap stocks from the 5G industry chain, selected based on market capitalization and revenue levels [1] - The top ten weighted stocks in the index include Luxshare Precision (9.73%), China Telecom (5.76%), and others, indicating a concentration in a few key players [1] - The index's holdings are primarily from the Shenzhen Stock Exchange (57.59%) and the Shanghai Stock Exchange (42.41%) [1] Group 3 - The index is adjusted semi-annually, with changes implemented on the next trading day after the second Friday of June and December [2] - Public funds tracking the 5G 50 Index include Bosera China Securities 5G Industry 50 ETF Connect A and C [2]

Market Overview - The Shenwan Electronics Industry Index fell by 4.09% last week, ranking 29th among 31 industries, underperforming the CSI 300 Index which rose by 1.80% [1] Company Performance - Micron's financial guidance is optimistic, with an increase in the HBM market size forecast. For FY2025Q2, revenue is projected at $8.053 billion, a decrease of 8% quarter-over-quarter but an increase of 38% year-over-year [1] - DRAM revenue is expected to be $6.123 billion, accounting for 76% of total revenue, with a quarter-over-quarter decrease of 4.4%. DRAM bit shipments are expected to decline by 7%-9%, while ASP is expected to grow in the low single digits [1] - NAND revenue is projected at $1.855 billion, making up 23% of total revenue, with a quarter-over-quarter decrease of 17.4%. NAND bit shipments are expected to see slight growth, but ASP is anticipated to decline by approximately 17%-19% [1] Segment Analysis - The CNBU segment saw revenue of $4.564 billion, a quarter-over-quarter increase of 4%, driven by over 50% growth in HBM revenue. The MBU segment's revenue was $1.068 billion, down 30% due to mobile customers optimizing inventory levels. The SBU segment's revenue decreased by 20%, primarily due to reduced storage investment from data center customers [2] - Micron anticipates a mid-single-digit percentage growth in server shipments for 2025, with both traditional and AI servers expected to grow. The HBM market demand remains strong, with a revised total market size forecast of over $35 billion for the 2025 calendar year [2] Future Outlook - In the data center business, Micron expects HBM3E 12H to account for a significant portion of total HBM shipments in the second half of 2025. HBM revenue is projected to reach several billion dollars in FY2025, with mass production of HBM4 expected in 2026 [2] - Due to short-term customer inventory impacts, NAND demand has slowed, but bit shipments are expected to recover in the coming months. For Q3 (March-May 2025), both DRAM and NAND bit shipments are expected to achieve positive growth, with revenue projected to reach $8.6-$9 billion, potentially setting a quarterly revenue record [2] Capital Expenditure Plans - Tencent's capital expenditure has seen triple-digit year-over-year growth for four consecutive quarters, expected to exceed 76.7 billion yuan in 2024, a 221% increase. The capital expenditure as a percentage of revenue is projected at 12% for 2024, with guidance for low double digits in 2025 [3] - China Unicom's capital expenditure for computing power is expected to rise by 19% in 2024 and 28% in 2025, with fixed asset investment around 55 billion yuan, focusing on upgrading IDC to AIDC and traditional computing to intelligent computing [3] Investment Strategy - With upstream storage production control, inventory digestion, and expanding AI applications driving new demand for enterprise data centers, the supply-demand relationship in the industry is expected to gradually improve, leading to a potential recovery in storage prices and demand. Companies to watch include Baiwei Storage, Lanke Technology, Demingli, Jiangbolong, and others in the storage module sector, as well as those in AI-driven and domestic substitution logic within the AI industry chain and consumer electronics [3]

Investment Rating - The report maintains a "Buy" rating for the company [3][6]. Core Viewpoints - The company is accelerating its investment in computing power, driven by AI, which is expected to open new growth avenues. The projected revenue for 2025-2027 shows a steady growth trajectory [3]. - The company achieved a revenue of CNY 389.59 billion in 2024, a year-on-year increase of 4.6%, with a net profit of CNY 9.03 billion, up 10.5% year-on-year [1][2]. Financial Performance - In 2024, the company reported a net cash flow from operating activities of CNY 91.26 billion, a decrease of 12.5% year-on-year [1]. - The company's capital expenditure for 2024 was CNY 61.37 billion, down 17% year-on-year, while computing power investment increased by 19% [2]. - The projected revenues for 2025, 2026, and 2027 are CNY 401.4 billion, CNY 431.4 billion, and CNY 453.4 billion, respectively, with expected growth rates of 5.3% for 2025 and 5.1% for both 2026 and 2027 [3][5]. Business Segments - The company's C-end business remains stable, with communication service revenue accounting for 76% of total service revenue, a 1.5% increase year-on-year. The user base reached 470 million, with a net increase of 19.52 million [2]. - The company has established over 300 integrated computing power resource pools, with a computing scale exceeding 17E FLOPS, contributing to a cloud revenue of CNY 68.6 billion, up 17.1% year-on-year [1][2]. Shareholder Returns - The board proposed a final dividend of CNY 0.0621 per share (before tax), leading to a total annual dividend of CNY 0.1580 per share, reflecting a year-on-year increase of 19.7% [2].

Core Insights - China Unicom has applied for a patent related to a traffic settlement scheme aimed at reducing economic losses for users [1] Group 1: Patent Application - The patent titled "Method, Device, Equipment, and Storage Medium for Determining Traffic Settlement Scheme" was filed with the National Intellectual Property Administration [1] - The application date for the patent is December 2024, and the publication number is CN 119676008 A [1] - The patent addresses the challenge of determining an appropriate fee settlement scheme for users exceeding their data limits, thereby minimizing their financial losses [1] Group 2: Company Overview - China Unicom, established in 1994, is based in Beijing and primarily engages in telecommunications, broadcasting, and satellite transmission services [2] - The company has a registered capital of approximately 10.48 billion RMB and has made investments in 33 enterprises [2] - China Unicom has participated in 3,091 bidding projects and holds 5,000 patent records along with 3,663 trademark records [2]