Core Viewpoint - Jida Communication (300597.SZ) has been selected as one of the candidates for the procurement projects announced by China Mobile, indicating a potential revenue opportunity for the company through these contracts [1] Group 1 - The announcement includes the public notice of selected candidates for the "2025 Non-Annual (Second Batch) and 2026-2027 Annual Planning Design Business Non-Core Technical Support Services Procurement" [1] - The estimated service fee for the selected share is approximately 51.04 million yuan (including tax) [1] - The company is also listed as a candidate for the "2026-2027 Annual Design Institute Software Cost Measurement Services Non-Core Capability Technical Support Services Centralized Procurement Project" [1]

Core Viewpoint - Jida Communication (300597.SZ) has been selected as a candidate for multiple procurement projects by China Mobile, indicating potential growth opportunities for the company in the telecommunications sector [1] Group 1: Procurement Details - China Mobile recently published announcements regarding the procurement of non-core technical support services for the years 2025 and 2026-2027, with Jida Communication being one of the selected candidates [1] - The estimated service fee for the selected share in this procurement is approximately 51.04 million yuan (including tax) [1]

Group 1 - China Mobile's stock price in Hong Kong has decreased by 2.1% [1]

Group 1 - Goldman Sachs has adjusted the target price for China Mobile (00941.HK) from HKD 105 to HKD 88 and downgraded the rating from "Buy" to "Neutral" [1] - The report highlights that while China Mobile shows growth potential in innovative business areas, the slowdown in 5G telecom service growth is a key short-term pressure factor [1][3] - The firm has reduced its forecast for new 5G base stations by 8,000 units by December 2025, with expectations for 540,000 and 500,000 new base stations in 2026 and 2027, respectively, reflecting a cautious capital expenditure trend among operators [3] Group 2 - The report acknowledges China Mobile's strategic layout in innovative business areas, expecting significant growth from large-scale computing expansion and AI ecosystem coverage [3] - Despite the potential in innovative businesses, traditional communication services still account for over 70% of revenue, which is expected to have a greater impact on overall profitability in the short term [3] - As of the report date, China Mobile's stock price was HKD 78.4, indicating a 12% upside potential compared to the target price, with a recommendation for investors to remain cautious until clearer catalysts emerge [3]

Core Viewpoint - Goldman Sachs has downgraded China Mobile's target price from HKD 105 to HKD 88 and changed its rating from "Buy" to "Neutral" due to a slowdown in 5G service growth and lower-than-expected new 5G base station additions [1] Group 1: Company Valuation and Rating - China Mobile's current valuation is considered reasonable according to Goldman Sachs [1] - The target price has been adjusted to HKD 88, reflecting a more cautious outlook [1] - The rating has been downgraded from "Buy" to "Neutral" [1] Group 2: 5G Service Growth - The growth of 5G telecom services is experiencing a continuous slowdown [1] - Goldman Sachs estimates that by December 2025, the number of new 5G base stations in China will be 8,000 lower than previously forecasted [1] - The firm projects a year-on-year decline in new 5G base stations of 8% and 7% for 2026 and 2027, respectively, reaching 540,000 and 500,000 [1] Group 3: Innovation Business Outlook - Goldman Sachs maintains a positive outlook on China Mobile's expansion into innovative business areas [1] - Future growth in innovative services is expected to be supported by the continuous expansion of large-scale computing power and the coverage of AI ecosystems [1]

Core Viewpoint - Goldman Sachs has downgraded China Mobile's target price from HKD 105 to HKD 88 and changed its rating from "Buy" to "Neutral" due to a slowdown in 5G service growth and lower-than-expected new 5G base station additions [1] Group 1: Company Valuation and Rating - China Mobile's current valuation is considered reasonable according to Goldman Sachs [1] - The target price has been adjusted to HKD 88, reflecting a more cautious outlook [1] - The rating change to "Neutral" indicates a shift in sentiment towards the stock [1] Group 2: 5G Service Growth - The growth of 5G telecom services is experiencing a continuous slowdown [1] - Goldman Sachs estimates that by December 2025, the number of new 5G base stations in China will be 8,000 lower than previously forecasted [1] - The firm projects a year-on-year decline in new 5G base stations of 8% and 7% for 2026 and 2027, respectively, reaching 540,000 and 500,000 [1] Group 3: Innovation Business Outlook - Goldman Sachs maintains a positive outlook on China Mobile's expansion into innovative business areas [1] - Future growth in innovative services is expected to be supported by the expansion of large-scale computing power and the coverage of AI ecosystems [1]

Core Viewpoint - Goldman Sachs maintains a positive outlook on China Mobile's expansion from traditional telecom services to innovative businesses, despite a slowdown in 5G telecom service growth [1] Group 1: 5G Service Growth - The growth of 5G telecom services is continuing to slow down, with the latest data indicating that the number of new 5G base stations in the Chinese industry by December 2025 is expected to be 8,000 lower than previously estimated [1] - It is projected that the number of new 5G base stations in 2026 and 2027 will decline by 8% and 7% year-on-year, reaching 540,000 and 500,000 respectively [1] Group 2: Innovative Business Growth - The firm expects continued growth in innovative businesses, primarily supported by the ongoing expansion of large-scale computing power and the coverage of the AI ecosystem [1] Group 3: Valuation and Rating - China Mobile's current valuation is considered reasonable, with the target price adjusted from HKD 105 to HKD 88, and the rating downgraded from "Buy" to "Neutral" [1] - The outlook on the stock could become more optimistic if there are improvements in 5G user ARPU, better-than-expected growth in innovative businesses, or faster-than-expected progress in 6G telecom service commercialization [1]

"太感谢你们了，不然我在住院期间连家人都联系不上"1月29日上午，病床上的田奶奶握着吴忠移动营 业员买田田的手再三道谢，脸上绽放出欣慰的笑容。这温暖的一幕，源于一通来自医院的紧急求助电 话。 从接到求助到抵达病床前解决完问题，全程仅用1小时，吴忠移动营业员用及时响应化解了老人的燃眉 之急，更让在场医护人员对移动服务竖起了大拇指。这场"零距离"服务，正是吴忠移动践行"客户诉 求，高效响应"十项服务承诺的生动缩影。自2025年以来，吴忠移动始终秉持"客户为根、服务为本"的 核心理念，推进常态化上门服务机制，让移动服务走出营业厅，走进用户最需要的地方。 为帮助一位八十多岁老人解决电视调试难题，吴忠移动青铜峡营业厅建立专项服务档案，帮助用户调试 电视、优化信号，用耐心与坚守赢得老人全家的长期信赖。2025年吴忠移动7家自有营业厅累计开展上 门服务超百余次，涵盖补卡、办业务、设备调试、套餐讲解等多元化服务，让"服务多跑路、用户少跑 腿"真正落地见效。 （责任编辑：康玲华） 当日，中国移动宁夏公司吴忠分公司同心营业厅的咨询电话骤然响起，电话那头是一位姓田的老奶奶， 因生病住院行动不便，手机却突然无法正常使用，急需通信服务 ...

工作指引专门就"四风"实质特征进行提炼总结，其中针对形式主义、官僚主义提炼出重虚轻实、重上轻 下、重权轻责三方面共有特性，针对享乐主义、奢靡之风提炼出重享受轻奋斗、重物欲轻精神、重私利 轻公义三方面共有特性，指导各所属单位从共有特性出发，紧盯重点关注事项深入核查，精准有力识别 并查处"四风"问题。针对各所属单位查办"四风"案件时存在的核查关键要素缺失、证据链不完整等问 题，系统梳理"四风"常见表现，形成30个典型场景，分门别类明确198个必问必核事项，推动各所属单 位在开展核查时按图索骥。 聚焦风腐表征，提升由风及腐穿透性。针对各所属单位对是否风腐同查把握不准、如何风腐同查缺乏思 路等问题，结合近几年查处的风腐一体案件，总结出"对特定事项一反常态""对与工作无关的社交应酬 格外热衷"等风腐方面表征，推动所属单位在查处过程中重点关注"决策一言堂、用人一句话、用钱一支 笔、项目一手抓"典型现象及违纪行为的长期性、人员的固定性、次数的高频性等因素，严查不正之风 背后潜藏的腐败问题。从本人、家人、单位作风三个维度，提炼"作风霸道、独断专行""管束不严、家 风不正""纪律松弛、歪风盛行"等方面共性表征，指导所属单位在查 ...

Group 1: Development Goals and Framework - The State-owned Assets Supervision and Administration Commission (SASAC) has set the annual development goals centered on "two guarantees and two strives" for 2026, marking a shift towards quality and efficiency in state-owned enterprises (SOEs) [4] - The total assets of central enterprises have surpassed 95 trillion yuan, with R&D investment exceeding 1 trillion yuan for four consecutive years, indicating a focus on quality-driven growth [8] - The framework aims to guide state capital towards strategic security, public welfare, and emerging industries, providing a clear action plan for reform and development [4] Group 2: Industry Integration and Collaboration - In 2025, the restructuring of central enterprises will follow a dual-track approach, focusing on strategic formation of new central enterprises and multi-field professional integration [13] - The establishment of new central enterprises, such as China Yajiang Group and China Chang'an Automobile Group, aims to serve national macro strategies and enhance industry collaboration [14] - A total of 17 units signed agreements in key areas like artificial intelligence and new materials, creating a multi-party collaborative model involving central enterprises, private enterprises, and local governments [16] Group 3: Capital Investment and Fund Management - The total scale of the China Chengtong fund system reached 710 billion yuan, with 97.99% allocated to strategic emerging industries, demonstrating a strong focus on high-tech sectors [18] - The National Investment Group manages 61 funds with a total scale of 345.1 billion yuan, having invested in 1,249 projects and facilitated 293 companies going public [20] - The investment strategy emphasizes long-term support for innovative enterprises, with over two-thirds of funds directed towards private enterprises [20] Group 4: Resource Integration and Security - Central enterprises are undergoing intensive integration in key mineral sectors, such as iron ore and rare earths, to enhance resource control and pricing power [24] - The integration aims to create a closed-loop industry chain, improving domestic supply security and reducing reliance on imports [25] - This strategic move is seen as a vital step in ensuring national resource security and enhancing the global influence of China's mineral resources [24]