Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of China Telecom, indicating a slight decline in stock price and notable trading activity on November 14 [1] - On November 14, China Telecom's stock price fell by 0.29%, with a trading volume of 453 million yuan, and a net financing buy of -6.43 million yuan [1] - As of November 14, the total margin balance for China Telecom was 881 million yuan, with a financing balance of 879 million yuan, representing 0.17% of the circulating market value, which is above the 80th percentile of the past year [1] Group 2 - China Telecom, established on September 10, 2002, primarily engages in telecommunications and related services, with a revenue composition of 39.56% from mobile communication services, 27.78% from industrial digital services, and 23.80% from fixed-line and smart home services [2] - For the period from January to September 2025, China Telecom reported a revenue of 394.27 billion yuan, reflecting a year-on-year growth of 0.59%, and a net profit attributable to shareholders of 30.77 billion yuan, up 5.03% year-on-year [2] - As of September 30, 2025, the number of shareholders for China Telecom increased to 273,700, marking a 22.83% rise compared to the previous period [2] Group 3 - Since its A-share listing, China Telecom has distributed a total of 95.19 billion yuan in dividends, with 68.65 billion yuan distributed over the past three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders of China Telecom [3]

Investment Rating - The report maintains a "Recommended" investment rating for the industry [5]. Core Insights - The gap between domestic and overseas large models in AI is rapidly narrowing, with domestic AI ecosystems represented by Tencent and Alibaba showing significant development. This suggests a potential turning point for accelerated growth in domestic AI [3][22]. - The report emphasizes the importance of focusing on core targets in domestic computing power and AI agents, highlighting key companies in cloud computing, chip design, and AI applications [3][22]. Summary by Sections Market Review - During the week of November 10-14, the CSI 300 index fell by 1.08%, the SME index decreased by 1.71%, and the ChiNext index dropped by 3.01%. The computer sector (CITIC) saw a decline of 3.72% [30]. Industry News - AMD's CEO predicts that the AI data center market will exceed $1 trillion by 2030, growing from approximately $200 billion currently, with a compound annual growth rate (CAGR) of over 40% [23]. - The Ministry of Industry and Information Technology has issued a notice to accelerate the construction of pilot platforms in the manufacturing sector, aiming to enhance innovation and technology transfer [24]. Company News - Lingzhi Software plans to acquire 100% of Kaimiride (Suzhou) Information Technology Co., Ltd. through a share issuance and cash payment, with a share price set at 15.31 yuan [27]. - Zhengyuan Wisdom's board approved a share repurchase plan, intending to reduce up to 2,842,000 shares within six months [29]. Weekly Insights - Domestic large models like MiniMax and DeepSeek are now among the top global models, with MiniMax M2 achieving a daily token usage surpassing 50 billion, indicating strong market acceptance [9][12]. - The report highlights the competitive landscape in AI, with Tencent and Alibaba intensifying their efforts in AI applications, suggesting an imminent phase of heightened competition in the domestic AI market [20][22].

这场热烈的市场反响，标志着中国电信陕西公司在推动人工智能技术普惠化、场景化方面迈出关键一 步，一批批被预定的AI悟空，正如撒向三秦大地的智慧火种，预示着主动式、拟人化的智慧家庭生 活，正从愿景加速照进现实。 近日，优必选(09880)与中国电信（601728）陕西公司联合打造的首款"AI大模型家庭小型人形机器 人"——AI悟空，在陕西电信的多家核心营业厅正式上线，意味着双方此前制定的"10万台销量目标"战 略合作正式进入实质交付阶段。 作为一款定位为"家庭新成员"的智慧伴侣，AI悟空在展示初期便展现出强劲的市场吸引力。在营业厅演 示区，AI悟空与孩子们进行流畅的"诗词接龙"。它不仅能对答如流，更能通过生动的肢体动作诠释诗 意，引来在场观众阵阵惊叹。这一场景生动展现了其卓越的多模态交互能力一融合视觉感知、语音交互 与场景化Agent调度于一体，深度融合大模型技术底座，实现了从"被动应答"到"主动服务"的智慧跨 越。 ...

作为一款定位为"家庭新成员"的智慧伴侣，AI悟空具备了卓越的多模态交互能力，融合视觉感知、语音 交互与场景化Agent调度于一体，深度融合大模型技术底座，实现了从"被动应答"到"主动服务"的智慧 跨越。 人民财讯11月16日电，近日，优必选科技与中国电信（601728）陕西公司联合打造的首款"AI大模型家 庭小型人形机器人"AI悟空，在陕西电信的多家核心营业厅正式上线，意味着双方此前制定的"10万台销 量目标"战略合作正式进入实质交付阶段。 ...

本报讯(记者马薇)11月14日，全省首个12345热线创新实验室在无锡揭牌启动。首批合作单位签约成为 实验室创新合作伙伴，为后续的技术突破与成果规模化应用提供助力支撑。 该热线创新实验室由无锡市数据局、无锡市城市运行管理中心与中国电信（601728）联合建设。实验室 将立足"技术创新+场景应用"双轮驱动战略，以市民需求为导向，通过智能交互引擎优化、诉求处置流 程重塑、服务效能数字孪生等技术手段，全面提升诉求响应的精准度与温度感。同时，聚焦AI交互、 数据治理、智能调度等前沿领域，探索政务热线智能化转型路径，为全国政务热线智能化转型提供可复 制、可推广的"无锡范式"。 ...

Core Insights - China Telecom has successfully built the superconducting quantum computer "Tianyan-287," which utilizes the same chip as "Zuchongzhi No. 3" and demonstrates "quantum computing superiority" by processing specific problems 450 million times faster than the fastest supercomputers [1][2] - The "Tianyan-287" quantum computing system is set to connect to the "Tianyan" quantum computing cloud platform, marking it as China's first cloud platform with quantum computing superiority, a significant step towards practical applications of quantum computing [1][2] Technical Aspects - "Tianyan-287" features 105 data qubits and 182 coupling qubits, developed by China Telecom's subsidiary, China Telecom Quantum Information Technology Group, in collaboration with GuoDun Quantum Technology Co., Ltd [2] - The construction of the quantum computer showcases breakthroughs in "fully domestic," "AI empowerment," and "super fusion" technologies, with all critical components sourced from domestic manufacturers, establishing a fully localized superconducting quantum computing supply chain [2] System Integration - The integration and debugging of the entire system were key focuses during the construction process, ensuring the stability of the domestic quantum "refrigerator" under high thermal loads, which is essential for the superconducting chip's low-temperature and low-noise operational environment [2] Industry Implications - The quantum computing cloud platform serves as a crucial infrastructure for future applications and is a strategic pivot for building a complete quantum industry ecosystem, facilitating the transition of quantum computing from laboratory research to practical applications [3] - The platform aims to provide computational support to various industry users and research institutions, expanding the application boundaries of quantum computing and enhancing China's core competitiveness and influence in this international frontier [3]

Core Viewpoint - The successful construction of the "Tianyan-287" superconducting quantum computer, which utilizes the same chip as the "Zuchongzhi No. 3," marks a significant milestone in China's quantum computing capabilities, demonstrating "quantum computing superiority" by processing specific problems 450 million times faster than the fastest supercomputers [1][3]. Group 1: Quantum Computing Development - Quantum computing is seen as a key technology for the next information revolution, with "quantum computing superiority" being a critical performance indicator that validates the feasibility of quantum systems surpassing traditional supercomputers [3]. - The "Tianyan-287" quantum computer features 105 data qubits and 182 coupling qubits, showcasing its advanced capabilities and is built by a collaboration between China Telecom Quantum Group and GuoDun Quantum [3][4]. Group 2: Technological Breakthroughs - The construction process of the quantum computer highlights three technological breakthroughs: "fully domestic production," "AI empowerment," and "super fusion," with all hardware components sourced from domestic manufacturers [4]. - An AI-enabled automatic calibration system for superconducting chip parameters was developed, allowing for efficient and precise maintenance of the quantum computing system [5]. Group 3: Cloud Platform Integration - The "Tianyan" quantum computing cloud platform will provide global access to quantum computing services, effectively lowering the technical application threshold and accelerating the transition from laboratory research to practical applications [6]. - The cloud platform has already achieved over 37 million visits and serves users from more than 60 countries, with over 2.7 million experimental tasks completed [6]. Group 4: Industry Trends - The current landscape of quantum computing in China shows a positive trend with breakthroughs in hardware, software tools, and collaborative industry efforts, indicating a shift from research breakthroughs to commercial applications [7]. - The main challenge for quantum computing remains identifying genuinely useful applications, with expectations for substantial progress in the next 5 to 10 years as the commercialization race accelerates [8].

Core Insights - The latest achievement in quantum computing is the completion of the "Tianyan-287" superconducting quantum computer, which utilizes the same chip as the "Zuchongzhi No. 3" and demonstrates "quantum computing superiority" by processing specific problems 450 million times faster than the fastest supercomputers [1][3] - This quantum computing system will be integrated into the "Tianyan" quantum computing cloud platform, marking China's first cloud platform with quantum computing superiority, which will be open for global application services [1][3] Group 1: Quantum Computing Development - Quantum computing is considered a key technology for the next information revolution, with "quantum computing superiority" being a critical performance indicator that validates the feasibility of quantum systems surpassing traditional supercomputers [3] - The "Tianyan-287" quantum computer features 105 data qubits and 182 coupling qubits, developed by China Telecom's quantum group in collaboration with Guodun Quantum [3][4] - The construction process of the quantum computer highlights three technological breakthroughs: "fully domestic," "AI empowerment," and "super fusion" [4] Group 2: Technological Innovations - The quantum computer's hardware and components are entirely domestically produced, establishing a fully domestic supply chain for superconducting quantum computing [4] - An AI-enabled automatic calibration system for superconducting chip parameters was developed, enhancing the efficiency and precision of the quantum computing system [4] - The integration of the superconducting quantum computer with the "Tianyi Cloud" supercomputing platform allows for high-bandwidth, low-latency interactions, facilitating collaborative scheduling of computing resources [4][5] Group 3: Cloud Platform and Market Impact - The "Tianyan" quantum computing cloud platform has been launched, combining supercomputing capabilities with 176 qubits of superconducting quantum computing, creating a comprehensive quantum computing product system [6] - The platform has achieved over 37 million visits and serves users in more than 60 countries, with over 2.7 million experimental tasks completed [6] - The current landscape of quantum computing in China shows a positive trend with breakthroughs in hardware, software, and industrial collaboration, indicating a shift from research breakthroughs to commercial applications [6][7]

本报讯(记者袁传玺)天眼查工商信息显示，近日，海南数据产业服务有限公司成立，注册资本1亿元， 经营范围包括第一类增值电信业务、第二类增值电信业务、互联网直播技术服务、信息网络传播视听节 目等。股东信息显示，该公司由中国电信（601728）旗下天翼资本控股有限公司、海南省信息产业投资 集团有限公司共同持股。 ...

Core Insights - The "Tianyan-287" superconducting quantum computer, equipped with the same chip as "Zuchongzhi No. 3," has been successfully built, showcasing "quantum computing superiority" by processing specific problems 450 million times faster than the fastest supercomputers [1][2] - This marks China's first quantum computing cloud platform with "quantum computing superiority," indicating significant progress in the practical application of quantum computing [1] Group 1: Technological Advancements - The "Zuchongzhi No. 3" chip features 105 data qubits and 182 coupling qubits, achieving a speed 15 orders of magnitude faster than current classical algorithms for quantum random circuit sampling tasks [2] - The construction of the quantum computer involved three key technological breakthroughs: domestically produced components, AI-enabled calibration systems, and a fully integrated quantum computing ecosystem [3] Group 2: Future Applications and Goals - The quantum computing platform aims to provide computational support for various industries and research institutions, enhancing China's competitiveness in the international quantum computing arena [4] - The upcoming 2025 Quantum Science and Industry Conference will showcase advancements in quantum technology and applications across multiple sectors, including finance, healthcare, and energy [5]