Core Viewpoint - China Mobile Guangxi Company is implementing a comprehensive return home support action during the Spring Festival, focusing on enhancing communication networks and providing warm services to ensure a smooth travel experience for returning citizens [1]. Group 1: Communication Network Enhancements - The company has upgraded the communication network at key transportation hubs, such as Nanning East Station, to handle increased passenger flow during the Spring Festival, achieving a 20% increase in capacity based on historical data [8]. - The overall network capacity has been doubled, with 4G and 5G networks expanded in high-traffic areas like waiting halls and platforms to meet the demands for internet access and communication [8]. - New and temporary base stations have been established along high-speed rail and highways to improve coverage, ensuring that even remote areas have reliable communication during the festive season [8]. Group 2: Smart Transportation Solutions - The company is utilizing smart technology to enhance traffic management, deploying police drones to monitor traffic flow and assist in emergency responses during the Spring Festival [9]. - In collaboration with local police, a drone patrol system has been implemented to monitor road conditions and manage congestion, significantly improving traffic efficiency during the holiday [9]. Group 3: Customer Service Initiatives - The company is providing a range of warm services at its service centers, including cultural activities and AI interaction experiences to engage customers and assist the elderly in using technology [10]. - Mobile service stations have been set up in communities to offer convenient services such as new number activation and network repairs, ensuring that residents have easy access to necessary support [10]. - Service centers are also offering free amenities like hot water and charging stations, creating a welcoming environment for travelers during their journeys [10]. Group 4: Fraud Prevention Efforts - During the Spring Festival, the company is actively promoting anti-fraud awareness among the public, distributing materials and educating citizens about common scams [11]. - Utilizing big data and intelligent monitoring, the company is enhancing network security and promptly addressing potential risks associated with telecommunications fraud [11]. - Volunteers are engaging with communities to provide guidance on installing anti-fraud applications, ensuring that safety measures reach the public effectively [11].

Core Insights - The article highlights the rapid growth and development of China's artificial intelligence (AI) industry, showcasing significant user adoption and innovation across various sectors [3][4][14][24][31]. Group 1: AI Industry Growth - By the end of 2025, China's generative AI user base is projected to reach 602 million, a 141.7% increase from the end of 2024, with a penetration rate of 42.8%, up 25.2 percentage points year-on-year [3]. - The AI industry in Beijing has surpassed 2,400 companies, including 46 listed firms and 36 unicorns, accounting for over half of the national total [4]. - Shanghai's AI industry is expected to exceed 550 billion yuan in scale by the end of 2025, with a year-on-year growth rate of over 30% [14]. Group 2: Key Players and Innovations - Major companies leading the AI sector include ByteDance, Baidu, and Huawei, focusing on areas such as large models, AI algorithms, and smart driving [5][24]. - Shenzhen has seen a 22.6% year-on-year growth in its core AI industry, with a total scale reaching 368.5 billion yuan in 2024, indicating a shift towards source innovation [24]. - Hangzhou's AI industry is projected to grow from 300 billion yuan in 2023 to 399 billion yuan in 2024, with 84 listed companies and 10 unicorns by the end of 2025 [31]. Group 3: Data and Infrastructure - Beijing has registered 123 large model products and established a data foundation with over 150 petabytes of data [4]. - Shanghai has completed 137 registrations for generative AI services, building a workforce of 300,000 in the AI sector [14]. - Shenzhen's AI industry encompasses a full range of the supply chain, from chips to applications, with 2,887 related enterprises [24].

越疆科技股份有限公司生产的人形机器人在影院柜台装填爆米花。冯 恒摄 日照钢铁控股集团有限公司的无头带钢生产线。日照钢铁控股集团供图 亨通光纤科技有限公司光棒智能制造工厂内，工人在监测设备运行情况。亨通集团供图 广东深圳 冲刺"人形机器人第一城" 本报记者 程远州 近日，去广东深圳市K11商场看电影的市民惊奇地发现，递上爆米花的居然是一台人形机器人。识别指 令、抓取纸杯、装填爆米花、递给顾客……这台由深圳市越疆科技股份有限公司生产的机器人，单日可 以连续工作14小时，日均完成超1000杯爆米花的制作与售卖，全程零失误。 "最大的难题是'眼、脑、手'协同——机器人既要精准识别环境变化，又要快速决策，还要实现毫米级 的精细操作。"越疆科技创始人兼首席执行官刘培超说，项目启动初期，机器人存在抓取纸杯时用力过 猛捏扁杯身、装填爆米花时撒落等问题，遇到顾客移动杯子、物料撒落等突发情况，更是直接"罢工"。 对于机器人而言，售卖爆米花看似简单实则挑战性极强。越疆科技组建硬件、算法、软件等多部门联合 攻关小组，反复调试机器人指尖压力传感器，让机器人能秒级识别环境变化，反复模拟爆米花撒落、容 器移位等20多种场景，让机器人能自主 ...

Core Viewpoint - The company Chuangshi Technology (SZ300941) is facing significant challenges following the conviction of its controlling shareholder Zhang Gengsheng for bribery, which has led to a sharp decline in net profit and the sale of shares by key executives [1][2][4]. Group 1: Legal Issues - Zhang Gengsheng, the controlling shareholder and actual controller of Chuangshi Technology, was sentenced to two years in prison (suspended for two years) and fined 300,000 RMB for bribery [2][3]. - The court ruling indicates that the illegal gains will be confiscated, and Zhang Gengsheng has been under investigation since November 2024 [4][3]. - Despite the legal issues, the company asserts that Zhang Gengsheng's sentencing will not impact his rights as a shareholder, and he has already paid the fine [4][5]. Group 2: Executive Actions - Following the announcement of Zhang Gengsheng's legal troubles, three key executives, including the CFO and two vice presidents, sold portions of their shares during a critical period [6][7]. - The CFO, Jiang Xiuyan, sold 320,000 shares at an average price of 23.5553 RMB per share, reducing her holdings from 322,969 shares to just 2,969 shares [7]. - The two vice presidents also executed significant share sales, with one selling 380,000 shares and the other 630,000 shares at average prices of 24.1389 RMB and 24.5270 RMB, respectively [7]. Group 3: Financial Performance - Chuangshi Technology reported a 15.45% increase in revenue for the first three quarters of 2025, reaching 156 million RMB, but net profit fell by 45.84% to 15.326 million RMB [8]. - The decline in profitability is attributed to a decrease in high-margin software and service sales compared to the previous year [8].

Core Viewpoint - Zhang Gengsheng, the controlling shareholder and actual controller of Chuangshi Technology, was sentenced to two years in prison with a two-year probation for the crime of unit bribery, along with a fine of 300,000 RMB [1][5]. Group 1: Company Background - Chuangshi Technology, founded in the 1990s, specializes in providing electronic payment IT solutions, including hardware and software products for merchants and banks [6]. - As of February 13, Chuangshi Technology's stock closed at 23.68 RMB per share, with a market capitalization of 4.848 billion RMB [6]. Group 2: Legal Proceedings - Zhang Gengsheng was prosecuted by the Shanghai Pudong New Area People's Court due to involvement in a bribery case related to company director Huang Zhongheng [5]. - The court's ruling on February 12, 2026, is a first-instance judgment and has not yet taken effect, with the possibility of Zhang appealing within the legal timeframe [6]. Group 3: Impact on Company Operations - The company stated that Zhang Gengsheng is no longer serving as a director or senior management personnel, and the judgment does not affect his shareholder rights [6]. - The penalties and fines have been fully paid by Zhang, and the company’s daily operations are reported to be normal, with the board and management team fulfilling their responsibilities [6].

Core Viewpoint - The "Smart Zhongpo" digital village management platform, launched by China Mobile Guangxi Company and Guangxi Mo's Agricultural Group, represents a significant step in implementing the national digital rural development strategy, enhancing grassroots governance and modern agriculture through digitalization [1][3]. Group 1: Digital Infrastructure and Technology - China Mobile Guangxi Company plays a crucial role in building new information infrastructure and digital rural development, leveraging its advanced "connection + computing power + capability" service system to support the "Smart Zhongpo" platform [3]. - The platform is built on a digital foundation supported by 5G, cloud computing, and the Internet of Things, utilizing "N+31+X" mobile cloud resources to create a dedicated "smart agricultural big data platform" [3]. Group 2: Agricultural Innovation - Guangxi Mo's Agricultural Group utilizes AI visual recognition and edge computing provided by China Mobile to establish a full-process visualization traceability system from farm to table, enhancing smart farming practices [5]. - AI cameras analyze sheep behavior in real-time, enabling automatic inventory and precise estrus warnings, with future plans for smart ear tags and pedometers to monitor health indicators continuously [5]. Group 3: Rural Governance and Services - The "Smart Zhongpo" platform serves as both the "smart brain" for industrial digitalization and the "nerve center" for modern rural governance, focusing on three core areas: rural governance, public services, and industrial development [7]. - The platform offers a one-stop solution covering five application scenarios: safe rural areas, comprehensive management, public services, industrial revitalization, and ecological governance, facilitating digital processing of village affairs and improving service equality between urban and rural areas [7]. Group 4: Future Development and Goals - The project has entered a regular operational phase, enhancing village-level affairs, public service efficiency, and industrial transformation [10]. - China Mobile aims to deepen platform capabilities, expand application scenarios, and create replicable experiences to contribute to the digital rural construction in Cengxi and Guangxi, establishing a "Zhongpo model" for rural revitalization [10].

Core Insights - The article highlights the efforts of a communication team at China Mobile Chongqing in overcoming the "impossible triangle" challenge of balancing performance, cost, and power consumption in communication technology [1][6]. Group 1: Project Overview - The project focuses on the innovation and application of low-cost phased array coverage enhancement technology based on intelligent ultra-surfaces, which is a potential core technology for 6G [1]. - The team has successfully developed the industry's first series of products that integrate "passive, distributed, and active" technologies, addressing long-standing issues in communication coverage [6][4]. Group 2: Team Dynamics and Challenges - The team faced significant challenges, including self-excitation interference from active integrated devices and interoperability between different manufacturers' equipment [1][3]. - The team worked intensively, often late into the night, to optimize data and validate algorithms, demonstrating a strong commitment to overcoming technical hurdles [3][4]. Group 3: Innovation and Learning - The experience has emphasized the importance of a complete closed loop from technology to value in corporate innovation, highlighting the need for practical application and benefit creation [6]. - The project has fostered a system-level innovation mindset among team members, illustrating that true technological breakthroughs often arise from interdisciplinary collaboration [6].

Investment Rating - The report maintains an "Outperform" investment rating for the communication industry [4][7]. Core Insights - In January 2026, the communication industry index increased by 5.47%, outperforming the Shanghai Composite Index (+3.76%), CSI 300 Index (+1.65%), Shenzhen Component Index (+5.03%), and ChiNext Index (+4.47%) [3][13]. - The capital expenditure of the four major North American cloud providers is expected to grow significantly, with a projected increase of over 60% in 2026 [6][24]. - The procurement results for special optical cables by China Mobile indicate that eight manufacturers, including Tongding Interconnection and Yangtze Optical Fibre and Cable, have been selected, highlighting the focus on key sectors such as industrial manufacturing and digital government [6][7]. Summary by Sections Industry Performance - The communication industry index showed a strong performance in January 2026, with a 5.47% increase, outperforming major indices [3][13]. - Sub-sectors within the communication industry saw varied performance, with cable, other communication equipment, and system equipment rising by 19.70%, 10.72%, and 7.85% respectively [16]. Telecommunications Sector - In 2025, the telecommunications business revenue reached CNY 1.75 trillion, a year-on-year increase of 0.7% [6][45]. - By December 2025, 5G mobile phone users accounted for 65.9% of total mobile phone users, with a monthly data usage (DOU) of 23.04GB per user, reflecting a 17.0% year-on-year increase [6][45]. Cloud Infrastructure Investment - The combined capital expenditure of the four major North American cloud providers in Q4 2025 was USD 126 billion, marking a 62.0% year-on-year increase [24][25]. - For 2026, the total capital expenditure guidance for these providers exceeds USD 660 billion, with an expected growth of 61.0% [24][25]. AI and Smartphone Market - The retail sales of communication equipment in China increased by 20.9% year-on-year in December 2025, driven by the demand for smartphones [44]. - The global smartphone shipment is projected to grow by 2% in 2025, reaching 1.25 billion units, with AI smartphones expected to penetrate 34% of the market by 2025 [6][44]. Investment Recommendations - The report suggests focusing on companies involved in optical devices, optical chips, optical modules, and AI smartphones, including Tianfu Communication, ZTE, and China Mobile [7][6].

Core Viewpoint - UBS downgraded China Mobile's rating from "Buy" to "Neutral" and reduced the target price from HKD 100 to HKD 81, citing that the dividend outlook is already reflected in the stock price and a lack of valuation catalysts [1][2]. Group 1: Institutional Perspective - UBS's report indicates that China Mobile's dividend is stable, with an expected dividend yield of 7-8% for 2026, but the company lacks valuation catalysts and has a low annual compound growth rate of approximately 2% [2]. - The comprehensive target price set by institutions is CNY 125.00, but market sentiment remains neutral [2]. Group 2: Recent Stock Performance - As of February 13, 2026, China Mobile's A-shares closed at CNY 92.69, down 0.64% for the day and a cumulative decline of 2.54% over the past five days [3]. - There was a net outflow of CNY 90.64 million on February 12, reflecting short-term market divergence, with trading volume shrinking to CNY 802 million and a turnover rate of 0.95% [3]. Group 3: Recent Developments - On February 11, 2026, China Mobile initiated an organizational restructuring, elevating computing power services to a second core business and integrating the "Nine Sky Research Institute" with the "Digital Intelligence Department" to form the "Digital Intelligence Division," aiming to enhance synergy in AI and computing power business [4].

Group 1 - Migu Culture Technology Co., Ltd. and China Mobile Communications Group Co., Ltd. have obtained a patent titled "Feature Selection Method, Device, and Readable Storage Medium," with authorization announcement number CN114004279B, applied for on October 2021 [1] - Migu Culture Technology Co., Ltd., established in 2014 and located in Beijing, primarily engages in software and information technology services, with a registered capital of 1,040 million RMB [1] - Migu has invested in 9 companies, participated in 2,585 bidding projects, holds 982 trademark records, 2,961 patent records, and possesses 10 administrative licenses [1] Group 2 - China Mobile Communications Group Co., Ltd., established in 1999 and also based in Beijing, focuses on telecommunications, broadcasting, and satellite transmission services, with a registered capital of 30,000 million RMB [1] - China Mobile has invested in 55 companies, participated in 5,000 bidding projects, holds 2,207 trademark records, 5,000 patent records, and possesses 50 administrative licenses [1]