9月9日，从中国移动相关业务负责人处获悉，中国移动正在申请卫星移动通信业务经营许可，为依法合 规开展手机直连卫星业务奠定政策基础，目前该申请已进入审核流程。 （文章来源：中国证券报） ...

运营商获颁卫星通信牌照，再次推荐卫星运营应用环节 20250908 摘要 国内商业航天和卫星互联网领域迎来政策、产业及资本市场三重共振拐 点，标志着行业进入明确上升期。政策鼓励、星网组网加速、火箭技术 迭代以及多家企业披露 IPO 辅导计划，共同推动行业发展。 卫星运营和应用环节因政策优化、技术迭代加速及资本市场支持而备受 看好。全球航天产业产值中，运营和应用占比超过 90%，远大于卫星制 造和火箭发射环节，凸显其巨大市场潜力。 国内卫星通信牌照管理不分高低轨，按业务形态管理。已发放的一类运 营牌照允许运营商开展高轨和低轨业务，中国卫通虽目前无低轨卫星， 但持有牌照即可运营相关业务。 中国移动和中国联通获得卫星通信牌照，将推动手机直连卫星业务大规 模推广，打破此前中国电信独家运营局面，为相关企业带来新的发展机 遇。 国内卫星互联网发展已过两三年，空间段建设取得进展，地面应用具备 快速推广基础。工信部推动行业准入改革，鼓励民间资本进入，旨在扩 大 C 端市场，反哺空间段建设。 Q&A 中国联通获得卫星通信牌照对行业发展有何影响？ 中国联通获得卫星通信牌照标志着国内卫星互联网的发展进入了一个新的阶段。 首先，这意 ...

AI基金易方达港股通红利混合A（005583）披露2025年半年报，上半年基金利润2.31亿元，加权平均基金份额本期利润0.0826元。报告期内，基金净值增长 率为10.82%，截至上半年末，基金规模为26.56亿元。 该基金属于灵活配置型基金。截至9月5日，单位净值为0.872元。基金经理是唐博伦。 基金管理人在半年报中表示，相较于去年，今年以来港股市场出现了几个变化： 第一，年初至今高股息指数跑输宽基指数。一方面，表现较好的AI、生物 医药相关板块在高股息和价值板块中敞口较小；另一方面，部分传统股息板块经过过去两年的上涨，估值吸引力下降，出现滞涨情况。 第二，区别于往 年，高股息指数内部出现了巨大的分化，部分板块表现优劣排序为：银行、多品类零售、电信、公用事业。 第三，港股市场增量资金在一季度快速流入后 逐渐放缓，而IPO和配售等融资金额在一季度后出现加速。新股和配售市场异常火爆。 向前展望，我们认为，若市场因为资金流入放缓叠加融资加速陷入焦灼，滞涨的高股息板块可能出现超额机会。在股息类资产内部，我们相对看好滞涨的公 用事业等板块，它们不仅估值相对较低，且处在资本开支下行周期中，自由现金流呈现改善状态，存 ...

转自：新华财经 9月5-7日，第十五届智慧城市与智能经济博览会在浙江宁波举行。中国移动以"算潮甬动 AI共生"为主题，立足AI"供给者、汇聚者、运营者"三重定位，展现 其赋能经济社会数智化转型的领先成果。 而其自主研发的"九天"通用基础大模型能支持云、边、端侧全场景应用环境，具有"高安全、高可控、全国产、全行业"四大核心优势。 作为算力供给的主力军，中国移动积极推进"云智算一体化"发展，深度融合算网基础设施与人工智能核心技术，围绕"算力多元化、算网一体化、全域AI 化"三个关键方向强化产业实践，推动算力成为一点接入、即取即用的社会级服务。 在"云智算一体化"展区，中国移动展示了在宁波的网络基础设施建设成果：建成5G基站超2.1万座，新增5G-A基站超2000座，千兆光网实现宁波全域覆盖， 万兆光网试点全面启动……强大的网络基础设施全面支撑通算、智算服务实现端到端秒级响应与调度，有效保障了算力服务的高效稳定。 值得一提的是，中国移动还持续强化全球连接能力，目前已成为全球海陆缆资源新增最多的运营商，新增海外机柜1.1万个。在宁波，为吉利、均胜等企业 全球化战略和出海构建了安全可信、全球智联的信息化基础底座。 本次 ...

Core Points - As of September 5, 2025, China Petroleum (601857) closed at 8.9 yuan, a 2.06% increase from the previous week's 8.72 yuan [1] - The company's market capitalization is currently 16,288.87 billion yuan, ranking 1st in the refining and trading sector and 7th among 5,152 A-shares [1] Company Announcements - China Petroleum Group plans to transfer 0.30% of its shares to China Mobile without compensation, reducing its holding from 82.46% to 82.17% [1] - The transfer involves 541,202,377 A-shares, which represents 0.30% of the total share capital, and aims to deepen strategic cooperation and optimize the shareholding structure [1] - The transfer requires approval from the State-owned Assets Supervision and Administration Commission and the completion of share transfer registration [1]

(推广) 凌晨两点，寒风在内蒙古阿拉善额济纳旗策克口岸的暗夜中嘶吼，如无形鞭子抽打着戈壁。 苏泊淖尔苏木伊布图嘎查牧民巴图焦急地打来电话："羊群…丢了…信号！"口岸唯一的中国移动内蒙古 公司营业员在听到牧民的羊群丢失后，迅速翻身下床，毅然扎进浓稠如墨的暗夜，前往戈壁沙海深处， 借助便携式信号增强器帮助巴图搜寻羊群身上的"移动耳标"信号。 一整晚，巴图一直焦急地盯着信号增强器微弱闪烁的光芒，直至东方地平线泛起第一缕灰白的晨光，信 号指针终于坚定指向一处沙坳，疲惫的羊群正瑟瑟蜷缩在那里相互取暖。"孙经理，羊在，家就在！这 次又多亏了您的帮忙！"巴图紧握着孙明皓冰冷的手，眼中已热泪滚烫。对策克口岸营业厅来说，深夜 响应客户需求已是常态。 策克口岸位于内蒙古阿拉善盟额济纳旗，是内蒙古西部重要的国家级全年性开放口岸，与蒙古国南戈壁 省西伯库伦口岸相对，是我国西北地区连通国内外的重要交通枢纽、商贸中心、货物集散地和资源通 道，承担着中、蒙两国之间进出口和旅客通行任务，也是"一带一路"重要运输节点之一。 多年来，为有效保障口岸工作人员、居民、通关人员的通信需求，中国移动内蒙古公司积极推进口岸网 络建设，并设立首家通信营业厅 ...

Core Viewpoint - The event in Suzhou aimed to support Jiangsu enterprises in expanding overseas, facilitated by China Mobile Jiangsu's digital solutions and network capabilities [1][2][3] Group 1: Event Overview - The Jiangsu Enterprises Going Global Promotion Conference gathered 143 key enterprises, government representatives, and industry experts to discuss challenges and digital support for overseas expansion [1] - Jiangsu Mobile has been actively investing in international network infrastructure to ensure efficient cross-border business operations for local enterprises [1][2] Group 2: Services and Support - China Mobile has integrated over 100 submarine and land cables, 357 overseas nodes, and 1,273 data centers, focusing on regions like ASEAN, Japan, South Korea, and the EU [2] - The company offers three tailored service packages ("Preferred," "Exclusive," "Premium") for enterprises at different stages of their international journey, providing comprehensive support from overseas establishment to cross-border networking [2] Group 3: Technological Innovations - The event featured eight themed exhibition booths showcasing digital solutions, including AI-driven applications for language translation and real-time visualization of global computing networks [2] - Jiangsu Mobile's innovations aim to enhance the global competitiveness of enterprises in key sectors such as intelligent manufacturing and new energy [1][2] Group 4: Strategic Collaborations - During the conference, Jiangsu Mobile signed multiple strategic cooperation agreements and announced exclusive international business discount policies to lower barriers for local enterprises [2][3] - The initiative aims to create a collaborative ecosystem for Jiangsu enterprises to navigate global markets effectively [2][3]

Group 1 - The 2025 World Intelligent Industry Expo (智博会) opened in Chongqing, focusing on "Artificial Intelligence+" and "Intelligent Connected New Energy Vehicles" [1] - Investment project contracts signed during the event exceeded 200 billion yuan, with over 120 billion yuan in concentrated on-site contracts [1] - Key projects include the Wanfu Aotexi Western Low-altitude Economy Base Project, Geely Technology Industry Manufacturing Project, and Huqing Semiconductor Material Production and Packaging Project [1] Group 2 - The expo featured five major sectors: Intelligent Connected New Energy Vehicles, Digital Cities, Intelligent Robots, Low-altitude Economy, and Smart Home, with over 550 domestic and international companies showcasing more than 3,000 innovative products across an exhibition area of over 100,000 square meters [1] - Local companies such as Yushu Technology, Yundongchu, Qiangnao Technology, and Qunhe Technology participated in the expo [1][3][4][5][6] Group 3 - Seven Teng Robotics, a local company, showcased third-generation explosion-proof quadruped and wheeled robots, focusing on emergency safety [11] - The company is exploring embodied intelligence in industrial chemical scenarios, utilizing Huawei's Ascend AI platform for its inspection robots [13] - Huawei's exhibition highlighted smart governance, smart economy, and smart society practices, along with core technologies like AI and ICT [13] Group 4 - The Sairus Group, a local enterprise, presented its exhibition area of over 10,000 square meters, featuring new energy vehicle products and advanced technologies [14] - Sairus demonstrated its "Automotive Industry Brain" ecosystem, showcasing a smart factory with over 3,000 robots and 100% automation in key processes [18] - The chairman of Sairus emphasized the profound impact of AI technology on the automotive industry across product forms, production methods, management models, and business logic [20] Group 5 - Tencent set up an interactive experience area featuring robots powered by its TAIROS platform, which integrates various AI models for industrial applications [20][22] - Major telecom operators, including China Telecom, China Mobile, and China Unicom, participated in the expo, showcasing advancements in AI and low-altitude economy services [22][25] - China Telecom's exhibition focused on cloud computing, AI, quantum technology, and digital industrial applications, with a notable computing power scale of 866 PFLOPS established by 2025 [23][26]

Core Insights - The Chinese government emphasizes the strategic importance of artificial intelligence (AI) as a transformative technology for the new industrial revolution and modernization efforts [1][3] - China Mobile is actively promoting AI integration in manufacturing, launching initiatives and guidelines to facilitate the adoption of AI technologies among small and medium-sized enterprises (SMEs) [3][5] Group 1: Government Initiatives - The State Council has issued opinions to deepen the implementation of the "AI+" initiative, aiming to cultivate new productive forces and ensure that all citizens benefit from AI advancements [1] - The event in Ningbo marks a significant step in promoting AI-driven industrial transformation, with the establishment of an AI+ manufacturing ecosystem [3][6] Group 2: AI in Manufacturing - China Mobile, in collaboration with Huawei, released practical guidelines for AI applications in manufacturing, targeting the challenges faced by SMEs [5][6] - The guidelines focus on 63 AI application scenarios across ten key industries in Ningbo, providing a comprehensive operational manual for AI transformation [5] Group 3: Pilot Projects and Collaborations - China Mobile has initiated pilot projects in Ningbo, showcasing successful AI applications that significantly enhance production efficiency, such as an 80% increase in production efficiency at a flexible production line [6][9] - Strategic partnerships have been formed, including a collaboration with China Nuclear Zhejiang Energy to integrate AI with energy technologies [7][9] Group 4: Ecosystem Development - The establishment of the "Factory Operating System Ecosystem" aims to create a comprehensive service model for industrial clients, enhancing production efficiency and reducing transformation risks [11][13] - China Mobile is building an AI+ manufacturing ecosystem with various partners to support algorithm development and industry-specific solutions [13][15] Group 5: Future Directions - The ongoing efforts in Ningbo are expected to serve as a replicable model for AI-driven industrialization across China, promoting a new era of intelligent manufacturing [6][9] - The collaboration among industry players is crucial for accelerating the digital transformation of manufacturing and fostering innovation in AI applications [15]

Investment Rating - The report maintains an "Overweight" rating for the communication industry, expecting the industry index to outperform the market index by more than 10% in the next six months [2][48]. Core Viewpoints - The communication industry has shown stable operation in the first seven months of 2025, with telecom business revenue exceeding 1 trillion yuan, reflecting a year-on-year growth of 0.7%. The total telecom business volume, calculated at constant prices from the previous year, has increased by 8.9% [24]. - The report highlights that the communication industry is in a period of technological iteration and policy dividends, with new growth drivers from AI, quantum communication, and low-altitude economy. The demand for communication facilities such as base stations, optical cables, and data centers is expected to continue growing [24][45]. Summary by Sections 1. Communication Industry Market Review - The communication sector has seen a cumulative increase of 7.58% over the past two weeks (August 22 to September 4), outperforming the CSI 300 index by 5.78 percentage points. Year-to-date, the sector has risen by 50.22%, surpassing the CSI 300 index by 39.29 percentage points [10][14]. 2. Industry News - The Ministry of Industry and Information Technology and the State Administration for Market Regulation have issued a plan to enhance the electronic information manufacturing industry, focusing on major projects and equipment updates [16]. - Juniper Research predicts that global cellular IoT connection revenue will exceed $30 billion by 2030, a 74% increase from $18 billion in 2025, driven by rising demand for operational efficiency and automation [19]. - The global 6G wireless communication standardization work has officially begun, marking a significant step in the development of 6G technology [20]. 3. Company Announcements - ZTE Corporation reported a net profit of 5.058 billion yuan for the first half of 2025, with a revenue of 71.553 billion yuan, reflecting a year-on-year growth of 14.51% [26]. - Meige Intelligent announced a net profit increase of 151% year-on-year for the first half of 2025, with revenue of 1.886 billion yuan, up 44.50% [28]. 4. Industry Data Updates - As of July 2025, the number of mobile phone users reached approximately 1.815 billion, a year-on-year increase of 2.68% [30]. - The total number of 5G base stations reached 4.598 million, with a net increase of 348,000 from the end of the previous year, accounting for 36% of all mobile base stations [40]. 5. Communication Sector Weekly Viewpoint - The report suggests focusing on companies that align with the three main themes of "technology commercialization, policy catalysis, and performance certainty," recommending stocks such as China Mobile, China Telecom, and FiberHome [45].