Group 1 - The State Intellectual Property Office of China has granted a patent titled "Detection Method, Device, System, and Storage Medium for Access Requests" to China United Network Communications Group Co., Ltd. and China Xunyi Postal and Telecommunications Consulting Design Institute Co., Ltd. The patent announcement number is CN119835035B, with an application date of December 2024 [1] - China United Network Communications Group Co., Ltd. was established in 1994 and is based in Beijing. The company primarily engages in telecommunications, broadcasting, television, and satellite transmission services, with a registered capital of approximately 10.48 billion RMB. The company has invested in 35 enterprises and participated in 3,336 bidding projects, holding 3,734 trademark records and 5,000 patent records, along with 11 administrative licenses [1] - China Xunyi Postal and Telecommunications Consulting Design Institute Co., Ltd. was founded in 1991 and is also located in Beijing. This company focuses on software and information technology services, with a registered capital of approximately 573.33 million RMB. It has invested in 15 enterprises and participated in 5,000 bidding projects, holding 97 trademark records and 1,403 patent records, along with 20 administrative licenses [1]

Group 1 - China Unicom's stock closed at 5.11 yuan, with a rise of 0.39% on December 31 [1] - A block trade occurred involving 2 million shares, totaling 9.34 million yuan, with a transaction price of 4.67 yuan per share and a premium rate of -8.61% [1] - The buyer was Changjiang Securities Co., Ltd. Wuhan Branch, and the seller was Huatai Securities Co., Ltd. Wuhan Jianghan Road Securities Branch [1] Group 2 - Over the past three months, China Unicom has recorded three block trades with a total transaction value of 20.46 million yuan [1] - In the last five trading days, the stock has seen a cumulative decline of 0.39%, with a net outflow of 157 million yuan from major funds [1]

Group 1 - The article highlights the behavior of margin traders, indicating that investors are looking for investment opportunities through their activities [1] - On December 30, a total of 3,757 stocks received margin buying funds, with the top three stocks being Sanhua Intelligent Controls at 2.296 billion, Zhongji Xuchuang at 2.293 billion, and Xinyi Sheng at 1.910 billion [1] - Among the stocks with significant margin buying, 10 stocks had a margin buying amount that exceeded 30% of their total trading volume [1] Group 2 - The top stocks by margin buying amount and their respective trading volumes and percentages are detailed, with notable mentions including Qingtang City at 24.35 million and Daya Shengxiang at 12.86 million [2] - The data shows that the margin buying percentage for several stocks is high, with Qingtang City at 43.09%, Daya Shengxiang at 40.80%, and Guangming Meat Industry at 35.66% [1][2] - The article provides a comprehensive table listing various stocks, their margin buying amounts, total trading amounts, margin buying percentages, and daily price changes [1][2]

Group 1 - China United Network Communications Group Co., Ltd. has obtained a patent for "Method, Device, Cloud Platform, Medium, and Product for Pushing IoT Data," with authorization announcement number CN119996506B, and the application date is February 2025 [1] - China United Network Communications Group Co., Ltd. was established in 1994, located in Beijing, and primarily engages in telecommunications, broadcasting, television, and satellite transmission services, with a registered capital of approximately 10.48 billion RMB [1] - The company has invested in 35 enterprises, participated in 3,332 bidding projects, and holds 3,734 trademark records and 5,000 patent records, along with 11 administrative licenses [1] Group 2 - Unicom Digital Technology Co., Ltd., established in 2006 and located in Beijing, focuses on software and information technology services, with a registered capital of approximately 988.98 million RMB [2] - The company has invested in 54 enterprises, participated in 5,000 bidding projects, and holds 24 trademark records and 1,959 patent records, along with 42 administrative licenses [2] Group 3 - Unicom Internet of Things Co., Ltd., established in 2018 and located in Nanjing, primarily engages in software and information technology services, with a registered capital of 100 million RMB [2] - The company has participated in 1,694 bidding projects, holds 47 trademark records and 222 patent records, along with 6 administrative licenses [2]

Investment Rating - The report maintains a "Positive" investment rating for the communication industry [10]. Core Insights - The communication sector saw a 4.21% increase in the 52nd week of 2025, ranking 8th among major industries in the Yangtze River region. Year-to-date, the sector has risen by 87.14%, ranking 1st [2][4]. - Nvidia has entered a non-exclusive licensing agreement with AI inference chip leader Groq, with a transaction value of $20 billion, significantly above Groq's September valuation of $6.9 billion. This acquisition enhances Nvidia's capabilities in inference processing [5]. - Alibaba's Tongyi Laboratory has launched a self-developed layered architecture image model, Qwen-Image-Layered, which optimizes computing power and enables precise image editing, facilitating the international expansion of domestic multimodal large models [6]. - The Long March 12 rocket successfully completed its first flight, marking a milestone for China's commercial aerospace sector, with new regulations facilitating the listing of rocket companies on the Sci-Tech Innovation Board [7]. Summary by Sections Market Performance - In the 52nd week of 2025, the communication sector increased by 4.21%, with a year-to-date rise of 87.14%, leading among major industries [2][4]. - Top gainers in the sector include Tongyu Communication (+30.7%), Yongding Co. (+28.1%), and Beidou Star (+27.3%), while China Telecom (-5.3%), Dekeli (-3.6%), and Shijia Photon (-3.6%) faced declines [4]. Key Developments - Nvidia's acquisition of Groq focuses on Groq's LPU architecture, which uses on-chip SRAM to enhance memory access speed, improving the overall inference processing ecosystem [5]. - Alibaba's Qwen-Image-Layered model breaks traditional diffusion model limitations, achieving element-level decoupling and precise editing, thus supporting the export of domestic multimodal models [6]. - The successful flight of the Long March 12 rocket represents a significant advancement in commercial aerospace, with new guidelines supporting the listing of rocket companies [7]. Investment Recommendations - Recommended operators include China Mobile, China Telecom, and China Unicom. - For optical modules, recommended companies are Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and Shijia Photon, with attention to Taicheng Light and Yuanjie Technology. - In liquid cooling, the recommendation is for Yingweike, while for hollow core fibers, Fenghuo Communication, Hengtong Optic-Electric, and Zhongtian Technology are suggested, with a focus on Changfei Optical Fiber. - For domestic computing power, recommended companies include Runze Technology, Guanghuan New Network, Aofei Data, Huafeng Technology, Guangxun Technology, ZTE, and Unisplendour. - In AI applications, recommended firms are Boshi Jie, Heertai, Tuobang Co., Yiyuan Communication, Meige Intelligent, and Guanghetong. - For satellite applications, recommended companies include Huace Navigation, Haige Communication, and Canqin Technology [8].

Core Viewpoints - The report anticipates a continuation of high demand for AI computing power in 2026, driven by both domestic and international investment opportunities in the computing power supply chain [21][23] - The investment strategy focuses on three main lines: embracing AI computing power, new productive forces, and core assets [21][22] Group 1: AI Computing Power Chain - The report predicts a significant increase in demand for 800G and 1.6T optical modules in 2026, benefiting leading manufacturers and upstream material suppliers [21][23] - Domestic liquid cooling manufacturers are expected to accelerate their international expansion, leveraging China's manufacturing advantages to gain market share [21][23] - The report highlights the importance of super nodes in bridging the performance gap between domestic and foreign computing cards, with 2026 projected as a pivotal year for domestic super node deployment [21][23] Group 2: Core Assets - Despite a slowdown in revenue growth for the three major domestic telecom operators, improved operational efficiency and declining capital expenditures are expected to support steady profit and dividend growth [22][21] - The telecom operators are positioned to play a crucial role in AI transformation across various industries, adhering to prudent investment and project evaluation principles [22][21] Group 3: Emerging Industries - The "14th Five-Year Plan" outlines significant investment opportunities in emerging sectors such as commercial aerospace, low-altitude economy, and quantum technology [22][21] - The commercial aerospace sector is expected to accelerate due to favorable policies, increasing launch frequencies, and technological advancements in reusable rocket technology [22][21]

Core Viewpoint - The announcement of the 2025 National Green Computing Power Facility List aims to promote the green and low-carbon development of computing power facilities in accordance with the national energy-saving and carbon reduction action plan [1]. Group 1: Industrial Sector - The list includes various computing power facilities in the industrial sector, such as Hongsheng Copper Industry Data Center [2]. - The facilities are part of a broader initiative to enhance energy efficiency and reduce carbon emissions in the industrial domain [1]. Group 2: Information and Communication Sector - Numerous data centers from China Telecom and China Mobile are featured, including the China Telecom Hangzhou Smart Computing Center and the China Mobile Yangtze River Delta (Jinhua) Data Center [2][3]. - These facilities are expected to contribute significantly to the digital infrastructure and support the transition to a low-carbon economy [1]. Group 3: Energy Sector - The list highlights energy-related computing power facilities, such as the State Power Investment Corporation Guian Data Center and the Southern Power Grid Green Smart Data Center [3][4]. - These facilities are crucial for integrating renewable energy sources and enhancing the overall efficiency of energy management [1]. Group 4: Internet Sector - The Internet sector is represented by facilities like the Karamay Carbon and Water Cooling Data Center and the New Silk Road Cloud Computing Center [4]. - These centers are designed to support large-scale data processing and storage while adhering to green standards [1]. Group 5: Financial Sector - Financial institutions are also included, with data centers such as the Bank of Communications Data Center and the People's Insurance Group Northern Information Center [4]. - This inclusion reflects the financial sector's commitment to sustainability and efficient data management practices [1]. Group 6: Public Institutions - The list features data centers from public institutions, including the Beijing Urban Sub-center Administrative Office Data Center [4]. - These facilities are essential for improving public service delivery and enhancing data management capabilities in government operations [1].

Core Viewpoint - The announcement of the "2025 National Green Computing Power Facility List" aims to promote the green and low-carbon development of computing power facilities in accordance with the "2024-2025 Energy Conservation and Carbon Reduction Action Plan" issued by the State Council [2][3]. Group 1: Announcement Details - The announcement was made by six departments: the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Commerce, the Financial Regulatory Bureau, the National Administration of State Assets, and the National Energy Administration [2]. - The list includes various sectors, with a total of 60 facilities recognized for their contributions to green computing power [3][4]. Group 2: Sector Breakdown - **Energy Sector**: Two facilities were recognized: - State Power Investment Corporation Gui'an Data Center - Southern Power Grid Green Smart Data Center [3][4]. - **Industrial Sector**: Includes facilities such as: - Hongsheng Copper Industry Data Center - China Telecom Hangzhou Smart Computing Center [3][4]. - **Telecommunications Sector**: Notable entries include: - China Telecom's multiple data centers across various locations, including Wenzhou and Changji [3][4]. - **Financial Sector**: Facilities such as: - Bank of Communications Data Center in Pujiang Park (Phase I) - China People's Insurance Group Northern Information Center [5][6]. Group 3: Public Institutions and Educational Facilities - Public institutions and educational facilities also feature in the list, including: - Beijing Urban Sub-center Administrative Office Data Center - Karamay Vocational Technical College Data Center [6].

Core Insights - The establishment of the Zhejiang Provincial Low Altitude Safety Management Association marks a new phase in low altitude safety management, integrating industry self-discipline and collaborative governance, and aims to support the burgeoning low altitude economy [1][3] Group 1: Industry Development - Low altitude economy is recognized as a strategic emerging industry in China, with increasing market scale and potential, but faces challenges such as an incomplete safety management system and inadequate collaborative mechanisms [3] - The association aims to address these issues by integrating resources from government departments, research institutions, operating companies, technology providers, and experts, creating a comprehensive safety ecosystem covering "technology research and development - scenario application - regulatory services" [3] Group 2: Technological Advancements - Zhejiang Unicom has developed a "terminal-network-cloud-security-intelligence" low altitude capability system, including a 5G-A millimeter wave network that covers low altitude areas up to 200 meters and a drone supervision platform that has handled 137 incidents of illegal flights [3][4] - The company is also implementing an automatic inspection system for drones at the Shimen Reservoir, which can deter fishing activities and analyze water quality trends using AI, reducing manual inspection costs by 70% across nine key water areas [3] Group 3: Future Vision - Zhejiang Unicom is working on a low altitude dedicated network that provides reliable communication, navigation, and remote sensing services for drones and eVTOL aircraft, ensuring low altitude flights are "perceptible, visible, controllable, and connected" [4] - The company is involved in establishing regulatory standards and has collaborated with Zhejiang University on drone cluster obstacle avoidance technology, which has been applied in security for the Hangzhou Asian Games [5] - A multi-dimensional governance system led by the government, supported by enterprises and academia, is taking shape, indicating a promising future for the low altitude economy [5]

Core Insights - The unveiling ceremony of the "Public Embodied Intelligence Innovation Center" by China Unicom Online Information Technology Co., Ltd. took place in Beijing, focusing on technological breakthroughs, results transformation, and talent cultivation [1] Group 1: Center Objectives and Technologies - The center aims to integrate innovation chains, industry chains, capital chains, and talent chains through a dual-drive model of "market + innovation," targeting seven application scenarios including family, medical care, and elderly assistance [1] - It relies on three technological engines: multimodal perception, model algorithm optimization, and integrated sensing across edge and cloud [1] Group 2: Collaborative Efforts and Goals - The center's core goals include strengthening the R&D base, expanding the industry-academia-research ecosystem, and optimizing the technology system [1] - It seeks to deepen multi-party collaboration, tackle core technologies, and promote results transformation to inject new momentum into the development of public business for China Unicom [1] Group 3: Academic Exchange - An AI + Innovation Cloud Terminal collaborative research and academic exchange meeting was held concurrently, featuring experts from institutions such as Hong Kong Polytechnic University, Harbin Institute of Technology, Tsinghua University Intelligent Industry Research Institute, and Beijing Humanoid Robot Innovation Center sharing cutting-edge research in the field of embodied intelligence [1]