Group 1 - Southbound funds net bought Hong Kong stocks worth 611 million HKD today, with notable purchases including Alibaba-W (1.36 billion HKD), Meituan-W (223 million HKD), and Zijin Mining (111 million HKD) [1] - Southbound funds have continuously net sold China Mobile for 8 consecutive days, totaling 6.49287 billion HKD [1] - Tencent Holdings saw a net sell of 1.088 billion HKD, while Kuaishou-W and SMIC experienced net sells of 174 million HKD and 141 million HKD respectively [1] Group 2 - Alibaba-W experienced a price increase of 0.6% with a net buy of 1.367 billion HKD and a transaction volume of 3.863 billion HKD [3] - Tencent Holdings declined by 2.0% with a net sell of 778 million HKD and a transaction volume of 3.507 billion HKD [3] - China Mobile's stock fell by 1.0% with a net sell of 1.482 billion HKD and a transaction volume of 2.204 billion HKD [3]

南向资金今日净买入6.11亿港元，阿里巴巴-W、美团-W、紫金矿业净买入额位列前三，分别获净买入 13.60亿港元、2.23亿港元、1.12亿港元。净卖出方面，中国移动、腾讯控股、快手-W分别遭净卖出 19.75亿港元、10.88亿港元、1.74亿港元。 来源：第一财经 ...

Market Overview - The Shanghai Composite Index rose by 0.07% on December 23, with nine sectors experiencing gains, led by the power equipment and building materials sectors, which increased by 1.12% and 0.88% respectively [1] - The social services and beauty care sectors saw the largest declines, with decreases of 2.07% and 1.65% respectively [1] - The communication sector fell by 0.53% [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 44.851 billion yuan, with four sectors seeing net inflows [1] - The power equipment sector led the net inflow with 3.793 billion yuan, followed by the basic chemical sector with a net inflow of 1.002 billion yuan and a daily increase of 0.22% [1] - A total of 27 sectors experienced net capital outflows, with the defense and military industry facing the largest outflow of 8.698 billion yuan, followed by the communication sector with an outflow of 5.470 billion yuan [1] Communication Sector Performance - The communication sector had 124 stocks, with 28 stocks rising and 96 stocks declining; three stocks hit the daily limit up [2] - The top three stocks with the highest net inflow in the communication sector were Zhongguang Fang Lei (3.68 billion yuan), Lian Te Ke Ji (2.73 billion yuan), and De Ke Li (2.10 billion yuan) [2] - The stocks with the largest net outflows included Tongyu Communication (7.70 billion yuan), Xin Yisheng (6.78 billion yuan), and Fenghuo Communication (5.42 billion yuan) [2][4] Communication Sector Capital Inflow and Outflow - The top inflow stocks in the communication sector included: - Zhongguang Fang Lei: +20.00%, turnover rate 24.64%, net inflow 368.42 million yuan - Lian Te Ke Ji: +7.68%, turnover rate 30.69%, net inflow 272.82 million yuan - De Ke Li: +2.52%, turnover rate 12.24%, net inflow 210.46 million yuan [2] - The top outflow stocks in the communication sector included: - Tongyu Communication: -7.64%, turnover rate 44.08%, net outflow -770.33 million yuan - Xin Yisheng: -1.08%, turnover rate 3.34%, net outflow -678.16 million yuan - Fenghuo Communication: -4.03%, turnover rate 8.18%, net outflow -542.48 million yuan [4]

12月23日，南都湾财社记者获悉，中国移动发布公告，杨杰因年龄原因辞任公司执行董事兼董事长的职务，自 2025年12月22日起生效。 中国移动表示，本公司于2025年12月19日向全体董事发出了召开 2025年第十次董事会的会议通知及议案，并于 2025年12月22日以书面决议方式召开了会议，本次会议应参与表决董事7人，实际参与表决董事7人。会议以7票同 意，0票反对，0票弃权的表决结果审议通过了《关于董事会成员调整的议案》 。经本公司提名委员会提议， 董事 会审议及批准， 陈忠岳先生已获委任为本公司的执行董事兼董事长，自2025年12月22日起生效。 南都湾财社记者注意到，关于这一人事变动也是今年以来业内一直热议的话题，因为中国移动原董事长杨杰到今 年7月就满63岁。根据相关规定，央企集团董事长一般都是63岁换人。 10月28日，中国移动通信集团有限公司召开中层以上管理人员大会。中央组织部有关负责同志宣布了党中央关于 中国移动通信集团有限公司主要负责同志调整的决定：陈忠岳同志任中国移动通信集团有限公司董事长、党组书 记，免去其中国联合网络通信集团有限公司董事长、党组书记职务；免去杨杰同志的中国移动通信集团有 ...

Core Viewpoint - The announcement from Chuangshi Technology (SZ300941) reveals that its controlling shareholder and actual controller, Zhang Gengsheng, is under investigation by the Shandong Provincial Zouping Municipal Supervisory Committee and has been subjected to detention measures. This follows his resignation from all executive positions in May 2025 due to "personal reasons" [1][2]. Group 1 - Zhang Gengsheng was previously involved in a bribery case and was notified by the Shanghai Pudong New District People's Procuratorate in November 2024 that he was a subject of prosecution [1][3]. - Following Zhang's resignation, Lin Lan, his wife, was appointed as the new chairperson and legal representative of Chuangshi Technology, indicating a leadership transition within the company [2]. - Despite resigning from his positions, Zhang Gengsheng remains a significant shareholder, holding approximately 69.96 million shares, making him the controlling shareholder of the company [1]. Group 2 - The company stated that the daily operations and management are handled by the executive team, and the ongoing investigation is not expected to have a significant negative impact on the company's production and management [3]. - The timeline of events shows a year-long gap between Zhang Gengsheng receiving the prosecution notice and his subsequent detention, raising questions about the connection between the two events [3].

Group 1 - The State Intellectual Property Office of China has granted a patent titled "Audio Processing Method, Device, Equipment, and Computer-Readable Storage Medium" to Migu Culture Technology Co., Ltd. and China Mobile Communications Group Co., Ltd. The patent was applied for on November 2022 [1] - Migu Culture Technology Co., Ltd. was established in 2014 and is based in Beijing, primarily engaged in software and information technology services. The company has a registered capital of 1,040 million RMB and has invested in 9 companies, participated in 2,574 bidding projects, and holds 982 trademark records and 2,773 patent records [1] - China Mobile Communications Group Co., Ltd. was founded in 1999 and is also located in Beijing, focusing on telecommunications, broadcasting, television, and satellite transmission services. The company has a registered capital of 30,000 million RMB, has invested in 54 companies, participated in 5,000 bidding projects, and holds 2,219 trademark records and 5,000 patent records [1]

Core Viewpoint - As of December 22, a total of 97 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more, indicating strong investor interest in these stocks [1] Group 1: Stocks with Notable Financing Inflows - The stock with the longest consecutive net inflow is Chunzhong Technology, which has seen net buying for 12 consecutive trading days [1] - Other stocks with significant consecutive net inflows include China Mobile, Haimeixing, Srey New Materials, Debang Technology, Xinhua Co., Innotech, Zijian Electronics, and Kesen Technology [1]

陈忠岳曾任中国电信浙江分公司副总经理、党组成员，中国电信公众客户事业部总经理，中国电信山西 分公司总经理、党组书记等职。 12月22日，中国移动(港股：00941，80941；A股：600941）在港交所发布公告，杨杰因年龄原因辞任 公司执行董事兼董事长的职务，自2025年12月22日起生效。陈忠岳已获委任为中国移动有限公司执行董 事兼董事长，自2025年12月22日起生效。 陈忠岳，1971年6月出生，中共党员，高级工程师，硕士学位。 1990年上海邮电学校国际邮电业务专业毕业，1998年获得浙江大学经济学硕士学位，2011年获得厦门大 学高级管理人员工商管理硕士学位。 2014年10月任中国电信集团党组成员、副总经理。据中国电信公开披露信息，同年12月，他获委任为中 国电信执行副总裁。 2021年1月任中国联通董事、总经理、党组副书记，2023年11月任中国联通董事长、党组书记。 2025年10月，陈忠岳任中国移动通信集团有限公司董事长、党组书记。至此番兼任中国移动有限公司执 行董事、董事长。 来源：白鹭洲知政、21世纪经济报道 ...

Core Insights - The Internet of Things (IoT) gateway is a crucial hub in the IoT architecture, facilitating interconnectivity between the perception layer, network layer, and application layer, while performing key functions such as data collection, protocol conversion, and edge computing [1][2][3] - The global IoT market is experiencing rapid growth, with revenues expected to reach $1.016 trillion in 2024 and projected to rise to $2 trillion by 2030, with the Asia-Pacific region contributing 55% of the revenue, primarily driven by China [1][7] - The Chinese IoT industry is set to reach a market size of 4.01 trillion yuan in 2024, increasing to 4.55 trillion yuan in 2025, with a year-on-year growth rate of approximately 13.7% [1][7] - The IoT gateway market in China is expected to grow to 45 billion yuan in 2024 and surpass 51.8 billion yuan in 2025, with an annual compound growth rate of over 15% [1][8] Industry Overview - The IoT gateway serves as a key device for interconnecting various IoT terminal devices with different protocols, types, and transmission rates, while also performing data collection, protocol conversion, edge computing, data filtering, and secure transmission [2][3] - The IoT gateway can be categorized based on protocol type, deployment scenario, and functional characteristics, including wireless protocol gateways, wired protocol gateways, and multi-protocol fusion gateways [3][5] Market Dynamics - The industrial-grade gateway accounts for over 42% of the market, with significant demand from key industries such as automotive manufacturing and energy and chemical sectors [8] - The consumer-grade gateway market is driven by the proliferation of smart home devices, while the automotive IoT gateway is experiencing rapid growth due to the development of V2X infrastructure [8] - Edge computing gateways, although currently holding a market share of about 6%-10%, are seeing a penetration rate of 35% due to the demand for real-time industrial applications [8] Policy Environment - The Chinese government has implemented various policies to promote the high-quality development of the IoT industry, including the "Digital China Construction Overall Layout Plan" and local initiatives aimed at integrating new information technologies with vertical sectors [6][7] Industry Chain - The IoT gateway industry chain is clearly defined, with upstream focusing on hardware and core technology suppliers, midstream consisting of gateway manufacturers and integrators, and downstream involving users and service providers in various IoT application fields [6] Competitive Landscape - The industry is characterized by a competitive landscape dominated by local giants like Huawei and ZTE, which hold approximately 41% of the market share, while specialized companies like Yihantong focus on specific verticals [10] Future Trends - The IoT gateway industry is expected to evolve towards deeper technological integration, with a focus on edge computing and artificial intelligence, transforming gateways into intelligent decision-making terminals [11] - The market will shift towards customized solutions for vertical industries, with a focus on adapting gateways to specific scenarios [12] - The trend of domestic substitution will continue, with local companies building self-sufficient supply chains and innovative service models emerging, such as "device as a service" [13][14]

凌晨1点，中国移动国际信息港的6G实验室灯火通明，6G通感算智融合系统概念样机(以下简称"6G样机 平台")的攻关进入最后冲刺。 重大项目合力攻坚，资源共享加速创新。面对链上中小企业和高校"有想法缺平台落地"的困境，中国移 动研究院牵头打造6G实验室，为中小企业和高校提供技术预验证平台，进一步打通技术壁垒，降低研 发成本。 为获取更精准的信道测量数据，中国移动研究院党员工程师团队在外场一线彻夜坚守、连续作业；中关 村泛联院党员团队连续两周泡在实验室，反复打磨优化技术方案；北京邮电大学、东南大学的党员团队 筑牢后方保障，经过仿真测试，提供精准的技术可行性报告…… "6G样机平台建设没有现成路径，要解决高层与物理层打通、算法与协议衔接等跨领域协同难题，必须 把高校的专业优势、科研院所的创新活力与企业的工程能力集合起来。"中国移动研究院技术经理夏亮 说，在6G样机平台研制过程中，他们会同链上单位共同组建技术攻坚党小组、攻关党员突击队等，凝 聚攻坚合力。 跨单位、跨学科团队存在技术语言差异、资源调度壁垒，如何破局？中国移动研究院党委牵头建立党建 强链机制，以党组织为纽带，与中关村泛联院、中移湾区(广东)创新研究院、中 ...