1月26日，南下资金净卖出港股8.26亿港元，为连续第二日净卖出。 其中：净买入腾讯控股10.15亿、小米集团-W 8.22亿、泡泡玛特6.13亿、钧达股份1.47亿、中国海洋石油1.07亿；净卖出中国移动11.77亿、紫金矿业10.77 亿、盈富基金10.36亿、阿里巴巴-W 2.35亿、中国人寿1.06亿。 据统计，南下资金已连续7日净买入小米，共计38.9621亿港元；连续4日净买入中海油，共计10.9627亿港元；连续3日净买入泡泡玛特，共计17.3397亿港 元；连续16日净卖出中国移动，共计128.9303亿港元。 北水动向 腾讯控股：海通国际发表研究报告，维持对腾讯控股"跑赢大市"评级，目标价为700港元。该行大致维持对腾讯第四季的业绩预测，预计总收入达1950亿 元，同比增长13%，非国际财务报告准则营业利润预计为680亿元，同比增长15%。该行认为，高质量增长将在2026财年延续。虽然资本支出可能在2026年 加速并对利润率构成压力，但受高利润新业务线驱动，预计仍可实现小幅利润率扩张。 小米集团：港交所文件显示，小米集团于1月26日以1.404亿港元回购400万股B类股份。 泡泡玛特：花旗发 ...

南向资金今日净卖出8.26亿港元，中国移动、紫金矿业、盈富基金分别遭净卖出11.77亿港元、10.77亿 港元、10.36亿港元。净买入方面，腾讯控股、小米集团-W、泡泡玛特净买入额位列前三，分别获净买 入10.15亿港元、8.22亿港元、6.13亿港元。 (本文来自第一财经) ...

Group 1 - Southbound funds recorded a net sell of HKD 826 million in Hong Kong stocks for the second consecutive day [1] - Notable net purchases included Tencent Holdings at HKD 1.015 billion, Xiaomi Group at HKD 822 million, and Pop Mart at HKD 613 million [1] - Significant net sales were observed in China Mobile at HKD 1.177 billion, Zijin Mining at HKD 1.077 billion, and Alibaba at HKD 235 million [1] Group 2 - Southbound funds have consistently net bought Xiaomi for 7 days, totaling HKD 3.89621 billion [1] - Continuous net buying for China National Offshore Oil Corporation (CNOOC) for 4 days, amounting to HKD 1.09627 billion [1] - Pop Mart has seen net buying for 3 consecutive days, totaling HKD 1.73397 billion [1] - China Mobile has faced net selling for 16 days, accumulating to HKD 12.89303 billion [1]

Investment Rating - The communication sector is rated as "Overweight" [8] Core Insights - The communication sector saw a decline of 2.12% in the index, while the Shanghai Composite Index rose by 0.84% and the Shenzhen Component Index increased by 1.11% [11] - In Q4 2025, the proportion of communication stocks in the top ten holdings of public funds increased to 8.75%, up by 0.91 percentage points from the previous quarter [12] - The overweight ratio for the communication sector reached 5.25%, an increase of 1.89 percentage points compared to Q3 2025 [12] - Key areas of investment interest include AI computing power chains (such as optical modules, liquid cooling, copper connections, and switches) and commercial aerospace (rockets, satellites, and terminals) [11][12] Summary by Sections Market Performance - The communication index decreased by 2.12%, while the broader market indices showed positive growth [11] - Public funds increased their holdings in liquid cooling, optical chips, data centers, and commercial aerospace, while reducing exposure to fiber optic cables and communication equipment [12] Valuation Metrics - As of January 23, 2026, the TTM P/E ratio for the communication sector was 50.01x, which is at the 83.1% historical percentile since early 2011 [12] Key Companies and Dynamics - The report highlights a primary investment theme in the communication industry focusing on AI computing power chains, with recommended stocks including Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and others [3] - The top five stocks by market value increase in Q4 2025 were Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, Yingwei Ke, and Yuanjie Technology, with respective increases of 51.3%, 17.8%, 21.0%, 33.6%, and 49.6% [21] - The report emphasizes the importance of commercial aerospace as a secondary investment theme [3] Recommended Stocks - The report recommends several stocks with a "Buy" rating, including: - Aofei Data (300738 CH) with a target price of 31.17 [43] - Wol Network (002130 CH) with a target price of 43.21 [43] - Ruijie Network (301165 CH) with a target price of 102.51 [43] - China Mobile (600941 CH) with a target price of 126.20 [43] - Xinyi Sheng (300502 CH) with a target price of 476.71 [43] - Tianfu Communication (300394 CH) with a target price of 211.92 [43] - Wan Guo Data (9698 HK) with a target price of 45.83 [43] - Zhongji Xuchuang (300308 CH) with a target price of 626.68 [43] - Hengtong Optic-Electric (600487 CH) with a target price of 25.73 [43]

此次两会数智保障是"智慧政务"建设的一次生动实践，充分展现了企业在政务信息化领域的技术积淀与 服务能力，也为"数字人大""数字政协"的深化建设积累了宝贵的实战经验。未来，宿迁移动将持续深化 AI与政务服务的深度融合，以数智技术持续赋能政务服务提质增效，助力地方数字化建设迈向新台 阶。 (杜合磊徐婷婷) 此次保障中，宿迁移动打造的"数字人大""数字政协"平台已实现常态化稳定运行，为代表委员履职提供 全流程数字化支撑，从议案提案提交到会议资料查阅全环节无缝衔接。会议签到系统大幅简化报到流 程，具身机器人在会场提供精准导览、互动咨询服务，成为会场亮眼的"智能向导"。 基于移动技术开发的AI智能体会议助手，实现7×24小时在线响应，代表委员可随时查询会议日程、乘 车就餐、通知公告等信息，助力其将精力更聚焦于建言献策等核心工作。多项智能技术的协同应用，不 仅大幅提升了会议整体运行效率，更以沉浸式的科技感服务，持续优化代表委员的参会体验。 1月20日起，宿迁正式进入"两会时间"，市政协六届五次会议与市六届人大六次会议相继召开。中国移 动（600941）江苏公司宿迁分公司(以下简称"宿迁移动")作为会议独家保障单位，以"数 ...

滨州日报/滨州网讯 山东移动滨州分公司文安路营业厅成立于2005年，坐落于兵圣孙武的故乡，是当地 的旗舰服务窗口。自成立以来，营业厅始终秉承"服务惠民客户至上"的理念，深耕客户感知提升。这支 由8人组成，平均年龄30岁的"巾帼先锋队"，凭借精细化管理，高效服务能力，赢得客户信赖及口碑， 荣获2025年中国通信企业协会"三星级电信业务实体营业厅"称号，成为通信服务行业基层标杆。 文化赋能，打造特色服务专区 设置"老年才艺区""儿童休闲区"等多元区域，将便民设施与文化氛围深度融合，让服务更有温度与底 蕴。每逢节假日，营业厅积极开展惊喜化服务，让每位进厅客户都能感受到舒心、贴心、暖心的服务体 验。 未来，营业厅将持续升级服务标准、丰富特色场景，深耕文化融合与服务创新，以更高品质的"心级服 务"回馈广大客户，朝着更高星级的标杆目标稳步迈进，为通信服务高质量发展贡献力量！ 原标题：智承兵圣·服务致胜——山东移动滨州分公司文安路营业厅荣获中国通信企业协会"三星级电信 业务实体营业厅" 团队聚力，夯实服务软实力 兵法家孙子强调"令之以文，齐之以武"，我们以此打造一支"懂文化、精业务、优服务"的铁军团队，定 期开展服务练兵竞 ...

Group 1 - The industry investment rating is "Buy" [2] - The report indicates that the communication sector's fund holdings have continued to rise quarter-on-quarter, with a notable increase in the allocation towards optical modules in Q4 2025 [6][20] - The communication sector's PE-TTM as of December 31, 2025, is 49.5 times, ranking it 7th among all Shenwan first-level industry indices, with a slight increase compared to the previous quarter [14][20] Group 2 - In Q4 2025, the total market value of fund holdings in the communication sector reached 186.39 billion CNY, an increase of 23.88 billion CNY from Q3 2025, marking the highest proportion of fund stock holdings in four years at 9.5% [23][25] - The report highlights a significant trend of increasing fund concentration in optical modules, with major holdings in companies like Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication [28][31] - The report notes a shift in fund strategies, with increased holdings in China Telecom (H shares) and a reduction in holdings of telecom equipment manufacturers like Zhongtian Technology and ZTE [46][54]

Market Overview - The market has been in a consolidation pattern this week, with overall activity being relatively flat. Despite a continuous decline in large-cap stocks, particularly bank stocks, the overall index has not fallen, with the Shanghai Composite Index remaining above 4100 points [1][2]. - The Shanghai Composite Index opened at 4090.72 points this week, reaching a low of 4080.29 points but closing above 4100 points daily, ending the week at 4136.16 points, reflecting a slight increase of 0.83% [2]. Banking Sector Performance - The banking sector has been the weakest performer, with the China Securities Banking Index dropping by 2.71% this week and a year-to-date decline of 7.51%. This marks a significant downturn, as the banking stocks have been on a downward trend since the second half of last year, reaching a six-month low this week [3]. - Major stocks in the market have also underperformed, with only a few, including three major oil companies and Zijin Mining, showing gains. Notably, Kweichow Moutai fell by 3.26% to 1337 yuan, marking a new low for over a year [3]. Fund Flow and Market Sentiment - The current market conditions may be influenced by large fund movements, as indicated by recent fund quarterly reports showing that major ETFs have seen a reduction in total shares held by central financial institutions. This suggests a significant reduction in holdings by the Central Huijin Investment, which may signal potential risks in the market [4]. - Despite the decline in large-cap stocks, the overall market has not experienced a significant downturn, indicating that other stocks, particularly small-cap stocks, remain active. The market is expected to continue in a consolidation phase rather than a sharp correction [4].

通信老柳2026-01-24 10:29:00 以上信息综合自网络媒体报道。 其中之一是九天研究院正式升级为九天公司，与去年成立的数智化部整合运作。中移九天公司（九天研 究院）通过公司与研究院的"一门两牌"机制，致力于实现一流的AI核心技术原始创新和一流的AI创新成 果转化，致力于成为国家人工智能整体布局的中坚力量。 其二是在集团层面设立"算力专项办公室"，张平宗出任办公室主任，统筹全集团的算力战略与布局。算 力专项办公室的设立，是对"4+N+31+X"体系的组织化升级，核心目标在于解决算力资源分散、跨区域 协同效率不足等问题，推动算力网络与AI、数据要素业务深度绑定。 据悉，中国移动新董事长上任后对内部进行了一系列管理创新，近期做出了两项具有战略意义的重大调 整，全面聚焦人工智能和算力领域。 ...

Group 1 - The State Intellectual Property Office of China has granted a patent titled "Image Recognition Method, Electronic Device and Storage Medium" to China Mobile (Chengdu) Information Communication Technology Co., Ltd. and China Mobile Communications Group Co., Ltd. The patent authorization announcement number is CN115311466B, with an application date of April 2021 [1] - China Mobile (Chengdu) Information Communication Technology Co., Ltd. was established in 2018 and is primarily engaged in software and information technology services. The company has a registered capital of 2 billion RMB and has participated in 2,484 bidding projects, holds 260 trademark records, and 844 patent records, along with 6 administrative licenses [1] - China Mobile Communications Group Co., Ltd. was founded in 1999 and focuses on telecommunications, broadcasting, and satellite transmission services. The company has a registered capital of 30 billion RMB, has invested in 54 enterprises, participated in 5,000 bidding projects, holds 2,214 trademark records, and 5,000 patent records, and possesses 50 administrative licenses [1]