Core Viewpoint - The 2025 China Enterprise ESG "Golden Responsibility Award" aims to recognize companies and institutions that have made significant contributions to ESG initiatives in China, reflecting a shift from voluntary practices to compliance requirements in ESG performance [1][18]. Group 1: Award Categories and Winners - The award includes ten categories: Best Environmental Responsibility Award, Best Social Responsibility Award, Best Corporate Governance Responsibility Award, Best Responsibility Initiative Award, Annual Sustainable Development Award, Best Responsible Investment Bank Award, Best Responsible Investment Securities Company Award, Best Responsible Investment Insurance Company Award, Best Responsible Investment Fund Company Award, and Best Responsible Investment Asset Management Institution Award [1][18]. - The Best Environmental Responsibility Award winners include: Sungrow Power Supply, Industrial Fulian, Kweichow Moutai, Geely Automobile, Haier Smart Home, Hisense Visual Technology, Linyang Electronics, Tongwei Co., Weichai Power, and Luxshare Precision [10][28]. - The Best Social Responsibility Award winners include: China Shenhua, China General Nuclear Power, China Resources Sanjiu, Sinopec, Shougang, Wuliangye, Yangtze Power, China Telecom, China Oilfield Services, and LONGi Green Energy [10][28]. - The Best Corporate Governance Responsibility Award winners include: Zijin Mining, SF Holding, ZTE Corporation, Industrial Fulian, JA Solar, Sany Heavy Industry, Nanjing Steel, Bright Dairy, TCL Zhonghuan, and Fuyao Glass [10][28]. - The Best Responsibility Initiative Award winners include: FiberHome Technologies, Wens Foodstuff Group, Haitian Flavoring and Food, Aier Eye Hospital, Yunnan Baiyao, Anker Innovations, Kingfa Sci. & Tech., Huatai Securities, Silex, and Hainengda [11][28]. - The Annual Sustainable Development Award winners include: China General Nuclear Power, Sungrow Power Supply, Kweichow Moutai, Contemporary Amperex Technology, Zijin Mining, Hikvision, Yili, Baosteel, Chint Electric, and China Mobile [11][28]. Group 2: Responsible Investment Awards - The Best Responsible Investment Bank Award winners include: Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, China Merchants Bank, Industrial Bank, and Bank of China [11][28]. - The Best Responsible Investment Securities Company Award winners include: Guotai Junan, Everbright Securities, CITIC Securities, Huatai Securities, and CICC [12][28]. - The Best Responsible Investment Insurance Company Award winners include: China Life Insurance, China Ping An, China Pacific Insurance, China Re, Sunshine Insurance, and China Life [13][28]. - The Best Responsible Investment Fund Company Award winners include: Bosera Funds, Southern Fund, China Asset Management, Penghua Fund, Huitianfu Fund, and E Fund [14][28]. - The Best Responsible Investment Asset Management Institution Award winners include: China Life Asset Management, Huaxia Wealth Management, Xingyin Wealth Management, Taikang Asset, Taikang Asset, and Galaxy Investment [15][28]. Group 3: ESG Development Context - By 2025, China's ESG development has transitioned from "setting standards" to "strengthening regulations," with a comprehensive disclosure standard system being established [1][18]. - The ESG performance of enterprises is now a compliance requirement, linking commercial value with social value [1][18]. - The ESG rating center aims to promote sustainable development and responsible investment, enhancing the ESG performance of listed companies [17][34].

Group 1 - The State-owned Assets Supervision and Administration Commission (SASAC) disclosed the salary information of over 80 central enterprise leaders for the year 2024, emphasizing the importance of transparency in key areas and responding to public concerns [1] - The disclosure includes a list of major central enterprises, such as China National Petroleum Corporation, China Petroleum and Chemical Corporation, and State Grid Corporation of China, among others [3][4] Group 2 - Notable salaries among central enterprise leaders include: - Dai Houliang, Chairman of China National Petroleum, with an annual salary of 978,500 yuan - Wang Dongjin, Chairman of China National Offshore Oil Corporation, with an annual salary of 966,900 yuan - Ma Yongsheng, Chairman of China Petroleum and Chemical Corporation, with an annual salary of 935,500 yuan - Ke Ruiwen, Chairman of China Telecom, with an annual salary of 953,500 yuan - Chen Zhongyue, Chairman of China Unicom, with an annual salary of 914,900 yuan [4]

Group 1 - The core point of the article is that China Telecom announced the approval of the third vesting period exercise conditions for its second stock (H-share) value rights incentive plan by the company's eighth board of directors at its twenty-fifth meeting [1] Group 2 - The announcement indicates a significant step in the company's incentive plan, which is aimed at aligning the interests of employees with those of shareholders [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Telecom Corporation Limited 中国电信股份有限公司 （於中華人民共和國註冊成立之股份有限公司） （股份編號：728） 海外監管公告 中國電信股份有限公司第八屆董事會第二十五次會議決議公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 兹載列中國電信股份有限公司（「本公司」）在上海證券交易所網站刊登的《中國電信股份有 限公司第八屆董事會第二十五次會議決議公告》，僅供參考。 承董事會命 中國電信股份有限公司 董事長兼首席執行官 柯瑞文 中國北京，2026 年 1 月 14 日 中国电信股份有限公司 第八届董事会第二十五次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会召开情况 中国电信股份有限公司（以下称"公司"）于 2026 年 1 月 ...

Investment Rating - The industry investment rating is "Positive" and is maintained [10] Core Insights - The communication sector rose by 1.50% in the first week of 2026, ranking 28th among primary industries in the Yangtze River region. Year-to-date, the sector has also increased by 1.50% [2][5] - NVIDIA launched the Rubin platform at CES 2026, which integrates computing, storage, and networking, enhancing the demand for high-speed optical interconnects. This is expected to increase optical connection density and bandwidth requirements [6][8] - Chinese enterprises and institutions have applied to the ITU for over 200,000 low-orbit satellites by the end of 2025, accelerating the layout of low-orbit satellite internet and securing scarce frequency resources [7][8] Summary by Sections Market Performance - In the first week of 2026, the communication sector's stock performance included significant gains for companies with market capitalizations over 8 billion yuan, with Nanjing Panda (+49.1%), Tongyu Communication (+42.3%), and Dawi Technology (+35.3%) leading the gains. Conversely, Hengbao Co. (-8.1%), Cambridge Technology (-8.0%), and Dingtong Technology (-7.6%) experienced the largest declines [5] NVIDIA Rubin Platform - The Rubin platform features a modular Superchip and full liquid cooling, significantly increasing computing density. The NVL72 unit integrates 72 Rubin GPUs, providing approximately 200 PFLOPS NVFP4 computing power, with internal bandwidth of 14.4TB/s and external bandwidth of 1.6Tb/s [6] - The platform introduces a POD-level context memory system that alleviates inference KV cache bottlenecks, allowing for low-latency sharing across GPUs and nodes, with a single GPU card capable of approximately 16TB of context storage [6] - The integrated architecture of the Rubin 576 Superpod enhances optical interconnect density, with a total bandwidth of approximately 260TB/s [6] Satellite Projects in China - The report highlights that the large-scale application for low-orbit satellite constellations by Chinese entities is aimed at securing limited space resources, thus accelerating the development of low-orbit satellite internet [7] Investment Recommendations - The report recommends several companies across various segments: - Telecom operators: China Mobile, China Telecom, China Unicom - Optical modules: Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication - Liquid cooling: Yingweike - Hollow-core optical fibers: Fenghuo Communication, Hengtong Optic-Electric - Domestic computing: Runze Technology, Guanghuan New Network - AI applications: Bosijie, Heertai, Tuobang Co. - Satellite applications: Huace Navigation, Haige Communication [8]

Market Overview - The Shanghai Composite Index fell by 0.31% on January 14, with 17 out of the 28 sectors rising, led by the computer and comprehensive sectors, which increased by 3.42% and 2.90% respectively. The telecommunications sector ranked third in terms of gains [1] - The banking and real estate sectors experienced the largest declines, with drops of 1.88% and 1.18% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 71.378 billion yuan across the two markets, with only three sectors seeing net inflows: computer (8.873 billion yuan), telecommunications (2.824 billion yuan), and comprehensive (6.928 million yuan) [1] - The power equipment sector had the highest net outflow, totaling 14.433 billion yuan, followed by the electronics sector with a net outflow of 9.708 billion yuan. Other sectors with significant outflows included non-ferrous metals, defense, and machinery [1] Telecommunications Sector Performance - The telecommunications sector rose by 1.91% with a net inflow of 2.824 billion yuan, comprising 124 stocks, of which 104 rose and 19 fell [2] - Among the stocks in the telecommunications sector, 67 saw net inflows, with 16 stocks receiving over 100 million yuan. The top inflow was for Data Port, which received 1.119 billion yuan, followed by Shida Group and Wuhan Fanggu, with inflows of 732 million yuan and 671 million yuan respectively [2] - The outflow list included 9 stocks with over 100 million yuan in net outflows, led by Tongyu Communication, Oriental Communication, and China Telecom, with outflows of 955 million yuan, 889 million yuan, and 184 million yuan respectively [2][3] Top Gainers in Telecommunications - The top gainers in the telecommunications sector included Data Port (up 9.99%), Shida Group (up 10.00%), and Wuhan Fanggu (up 10.01%) [2] - Other notable gainers included Guangxun Technology (up 10.00%) and Fenghuo Communication (up 7.99%) [2] Top Losers in Telecommunications - The largest loser was Tongyu Communication, which fell by 10.00%, followed by Oriental Communication (down 5.97%) and China Telecom (down 0.95%) [3] - Other notable declines included ZTE Corporation (down 0.27%) and Puhua Technology (down 1.85%) [3]

（记者 曾健辉） 每经头条（nbdtoutiao）——海利生物增值9倍并购的企业，估值8个月"腰斩"，其第一大客户竟是尚未 成立的公司，离奇的事还不少…… 每经AI快讯，中国电信1月14日晚间发布公告称，公司第八届第二十五次董事会会议于2026年1月14日 以通讯方式召开。会议审议了《关于公司第二期股票（H股）增值权激励计划第三归属期行权条件达成 的议案》等文件。 ...

中国电信股份有限公司 第八届董事会第二十五次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会召开情况 中国电信股份有限公司（以下称"公司"）于 2026 年 1 月 14 日 以通讯方式召开了第八届董事会第二十五次会议。本次董事会的会议 通知及资料已于会前发送给公司全体董事。本次会议应到董事 10 人， 实到董事 10 人，会议由董事长柯瑞文主持，会议的召开及其程序符 合有关法律、法规和公司章程的规定。 证券代码：601728 证券简称：中国电信 公告编号：2026-001 表决结果：赞成票：10 票，反对票：0 票，弃权票：0 票。 特此公告。 中国电信股份有限公司 董 事 会 二〇二六年一月十四日 1 二、董事会审议情况 （一）批准《关于公司第二期股票（H 股）增值权激励计划第三 归属期行权条件达成的议案》 董事会确认公司第二期股票（H 股）增值权激励计划第三归属期 行权条件达成，由公司统一办理股票增值权行权事宜。 ...

Core Viewpoint - China Telecom's board of directors has approved the conditions for the third vesting period of its second stock (H-share) appreciation rights incentive plan, confirming that the conditions for exercising the rights have been met [1] Group 1 - The board meeting was chaired by Chairman Ke Ruiwen, with a total of 10 directors present [1] - The voting results were unanimous, with 10 votes in favor, 0 against, and 0 abstentions [1]

金磊 发自 凹非寺 量子位 | 公众号 QbitAI 感谢AI！ 原生1个G的视频，现在只需要传200K数据就能看了—— 视频数据的压缩率干到了 0.02% ，但依旧能保持画面的高清、连贯和画面细节。 或许你会问，这又有什么用呢？ 想象一下，你身处于太平洋的一搜远洋货轮中，卫星信号只有一两格，刷个朋友圈，加载内容的圈圈都要转好久。 但正是因为有了这项AI技术，现在在如此极端的环境之下，你甚至可以直接看 高清的世界杯直播！ 而这项新研究，正是来自中国电信人工智能研究院（TeleAI）的技术—— 生成式视频压缩（GVC，Generative Video Compression） 作为国资央企、全球领先的综合智能信息服务运营商，中国电信不仅拥有覆盖海陆空天的通信网络基础设施，更具备将前沿AI技术与实际通 信场景深度融合的能力。 这种"云网融合+AI原生"的独特优势，使得GVC技术从实验室走向远洋船舶、应急现场等真实极端环境成为可能。 那么这项研究到底是如何做到的，以及又能给我们现实生活带来什么改变，我们继续往下看。 。 没错，视频传输的物理法则，算是被重写了。 用计算，换宽带 在介绍这项黑科技之前，我们需得先聊聊现 ...