Core Viewpoint - The establishment of a trusted data space in the central state-owned enterprise sector is aimed at accelerating the market-oriented and value-oriented process of data elements, leveraging the role of state-owned enterprises in the national data market reform [1][2]. Group 1: Pilot Program and Key Participants - The State-owned Assets Supervision and Administration Commission announced a pilot program for the construction of trusted data space systems, involving major central enterprises such as China Telecom, China Mobile, China Unicom, and others [1]. - The core task of the pilot program is to promote interconnectivity and ecological co-construction of trusted data spaces across industries and enterprises within the central state-owned enterprise sector [1][2]. Group 2: Infrastructure and Operational Model - The trusted data space will be built on a model of "co-construction, co-creation, sharing, and common use," utilizing dedicated public cloud computing and data transmission networks provided by the three major telecom operators [1][2]. - A unified set of rules for data circulation and a secure environment for trusted data usage will be established, facilitating efficient data sharing, trading, and utilization [2]. Group 3: Innovation and Collaboration - The trusted data space will explore innovative data operation models and revenue distribution mechanisms, promoting collaboration among central enterprises and their upstream and downstream partners [3]. - The initiative aims to incubate new technologies, products, models, and business formats through demand-driven approaches and scenario validation, thereby empowering industrial upgrades and high-quality development [3].

Core Insights - The Shandong Province Intelligent Construction Application Scenario Exhibition showcases advancements in intelligent construction, featuring 12 leading companies and eight major exhibition areas, aimed at promoting technology and product applications in the construction industry [1] Group 1: Exhibition Overview - The exhibition is organized by the Shandong Intelligent Construction Industry Development Alliance and includes areas such as digital construction, intelligent design, and smart operation, focusing on enhancing the industrialization, digitization, and greening of Shandong's construction sector [1] - The event serves as a platform to demonstrate practical experiences and application cases in intelligent construction, contributing to the development of resilient cities and digital urbanization [1] Group 2: Intelligent Equipment and Technology - The unmanned tower crane showcased by China Construction Eighth Engineering Division demonstrates a 25% increase in operational efficiency and a 60% reduction in operating costs, with over 80,000 successful trial operations and zero safety incidents [2] - The intelligent safety belt presented at the exhibition allows for real-time monitoring of high-altitude workers' safety status, significantly reducing operational risks [2] Group 3: Digital Solutions - China Telecom's digital construction area features a multifunctional laser methane remote sensing system capable of detecting gas leaks in hard-to-reach areas, enhancing urban safety and governance [3] - The AI-driven automatic design system from Inspur significantly improves efficiency in generating construction drawings and BIM models by 3.68 times compared to manual design [4] Group 4: Smart Production and Materials - Qingdao Decai High-tech New Materials and Guangzhou Sound Doctor Technology showcase solutions for sound insulation and energy efficiency, with Decai's production lines improving efficiency by 200% [5] - The intelligent production line for doors and windows enhances product quality and operational efficiency, addressing key issues in residential construction [5] Group 5: Intelligent Construction Practices - The cloud-based digital system from China Construction Third Engineering Division automates over 80% of modeling processes and improves design accuracy to over 92%, while reducing labor input and increasing lifting efficiency by 30% [6] - The ALC panel construction robot from China Construction Eighth Engineering Division reduces labor requirements and increases daily output significantly [7] Group 6: Sustainable Practices - Wanhu Ecological's approach to green, formaldehyde-free materials aims to revolutionize home construction, achieving rapid renovation timelines [8] - The energy management platform developed by China Construction Eighth Engineering Division has demonstrated a 15% reduction in energy consumption in a university project, contributing to carbon reduction efforts [8] Group 7: Industry Context - The construction industry is a pillar of the national economy and a traditional strength in Shandong, with a supportive policy framework established to accelerate the development of intelligent construction technologies [9] - The exhibition represents a significant upgrade from previous events, highlighting the role of intelligent construction in addressing industry challenges such as low efficiency and high resource waste [9]

人民财讯12月10日电，据中信科移动消息，近日，中信科移动绿色天线业务再迎突破。在中国电信 （601728）绿色基站天线（2025）集中采购项目中，中信科移动以综合排名第一的成绩中标，在电信基 站天线集采市场上，实现历史最好成绩。 ...

据中信科移动消息，近日，中信科移动绿色天线业务再迎突破。在中国电信绿色基站天线（2025）集中 采购项目中，中信科移动以综合排名第一的成绩中标，在电信基站天线集采市场上，实现历史最好成 绩。 ...

Investment Rating - The report maintains a "Positive" investment rating for the communication industry [9]. Core Insights - The communication sector saw a 3.65% increase in the 49th week of 2025, ranking 3rd among major industries, and a 70.43% increase since the beginning of the year, ranking 2nd [2][4]. - AWS launched the Trainium 3 chip, significantly enhancing performance and energy efficiency, while DeepSeek V3.2 made breakthroughs in inference capabilities and cost reduction for long sequences [2][5][6]. - The collaboration between AWS and NVIDIA is expected to accelerate the integration of self-developed chips with the NVIDIA ecosystem, clarifying the ASIC penetration logic [7]. Summary by Sections Market Performance - The communication sector's performance in the 49th week of 2025 was a 3.65% increase, with a year-to-date increase of 70.43% [2][4]. - Top gainers in the sector included Tianfu Communication (+25.8%), Tongyu Communication (+23.9%), and Meige Intelligent (+13.7%), while the largest declines were seen in Online and Offline (-11.8%), Data Port (-10.8%), and Kesi Technology (-8.6%) [4]. Technological Developments - AWS's Trainium 3 chip offers a 4.4x performance increase and a 40% improvement in energy efficiency, reducing training costs for clients by up to 50% [5]. - DeepSeek V3.2, the first open-source model to integrate "deep thinking" and "tool invocation," surpassed GPT-5 in inference benchmarks, significantly lowering costs for long sequence tasks [6]. Investment Recommendations - Recommended companies include China Mobile, China Telecom, and China Unicom in the operator category; Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication in optical modules; and AI applications such as Boshi Jie, Heertai, and Tuobang Co. [7].

Core Viewpoint - The China Telecom 2025 Smart Technology Ecological Conference showcased a range of AI terminal products from Honor, emphasizing the theme of "Smart Navigation, Intelligent Coexistence" and highlighting the company's advancements in AI technology and ecosystem integration [1][3]. Product Highlights - Honor presented its flagship products, including the Honor Magic 8 series and Honor 500 series, along with other devices such as the Honor Magic V5 foldable phone, Honor MagicBook Art 14 2025, and Honor Watch 5 Ultra, demonstrating a comprehensive AI terminal ecosystem [3][10][11]. - The Honor 500 series, launched on November 24, features significant upgrades in imaging, performance, battery life, appearance, and user experience, setting new standards in the light flagship category [4]. - The Honor Magic 8 series, released on October 15, is positioned as a pioneering AI smartphone with advanced AI capabilities and a self-evolving operating system, MagicOS 10, establishing a new benchmark in the industry [9]. AI Integration and Features - The Honor 500 Pro Telecom version integrates AI functionalities such as intelligent fraud prevention, call summaries, real-time subtitles, and smart translation, enhancing user experience in communication and daily life [7]. - The Honor Magic V5 is noted for being the thinnest and lightest foldable phone globally, featuring advanced manufacturing techniques and comprehensive flagship performance [10]. - The Honor AI terminal ecosystem includes various products like the Honor Earbuds, which support AI translation and act as a personal AI assistant, showcasing the company's commitment to integrating AI across its product range [16]. Industry Positioning - Honor aims to be a global leader in the AI terminal ecosystem, focusing on human-centered technology that combines innovation with cultural elements to enhance user potential [16]. - The company emphasizes its strong hardware innovation capabilities and advanced system-level AI technologies, which facilitate seamless integration across devices and enrich user experiences [16].

Core Insights - The 2025 Digital Technology Ecological Conference was held in Guangzhou, showcasing China Telecom's advancements in the "five-in-one" intelligent cloud system and its commitment to promoting digital transformation across various industries [1] - China Telecom launched the "Cloud Smart Phone," an innovative product that integrates AI models and intelligent technology, aimed at redefining user experience in smart devices [1][2] - Guomai Culture, a subsidiary of China Telecom, plays a crucial role in providing content services for the Cloud Smart Phone, enhancing its gaming and video content offerings [1][3] Group 1 - The conference theme "Intelligent Navigation, Intelligent Coexistence" emphasizes the goal of fostering a prosperous digital technology ecosystem [1] - The Cloud Smart Phone features an AI-driven interaction system that simplifies daily tasks through voice commands, enhancing user convenience [2] - The device addresses traditional smartphone limitations by utilizing cloud computing, AI optimization, and 5G technology to deliver high-quality gaming experiences [2] Group 2 - The "Cloud Video" module of the Cloud Smart Phone offers a vast array of content, utilizing AI to recommend films based on user preferences, thus improving cultural consumption [3] - Guomai Culture's collaboration with the Cloud Smart Phone aligns with China Telecom's strategy to enhance digital life content ecosystems [3] - The company aims to leverage its expertise in digital content to strengthen the service system for the Cloud Smart Phone and support the development of AI-driven smart living scenarios [3]

来源：央视网 央视网消息：12月5日，2025数智科技生态大会期间，中国电信现代产业链焕新升级共链大会暨AI+智 慧监管生态合作论坛在广州成功举办。论坛围绕现代产业链焕新升级的新内涵、新举措、新成果展开深 入探讨。 本次大会，中国电信翼支付联合15家产业链伙伴代表，共同成立"中国电信现代产业链焕新升级共链行 动暨数字消费权益生态联盟"，期待通过持续深化产业链生态合作，更好满足用户高品质生活需求，促 进国民经济循环畅通。 据了解，中国电信翼支付基于数字消费权益生态的丰富场景，创新打造"翎泽"数字消费生态平台，该平 台已连接超70家央国企及200个行业头部品牌，构建起以央国企为核心、服务范围覆盖全国、安全可信 的数字消费权益生态。该平台已在30余家央国企落地应用并成功入选2025年国务院国资委央企人工智能 战略性高价值场景。 为进一步筑牢产业链自主可控安全防线，中国电信智慧监管御风品牌发布暨生态联盟正式启航，中国电 信翼支付携手十余家产业链伙伴展开生态合作，为产业链数据运营智能化、治理现代化转型提供有力支 撑。 在同期举办的数智科技生态展上，中国电信翼支付打造的AI+支付与数据科技生态合作展区，集中呈现 了数字消 ...

Core Insights - The year 2025 is anticipated to be the "year of intelligent agents," with a consensus emerging in the industry that large models must be integrated into specific scenarios to solve complex tasks for commercial viability [1] - The release of China Telecom's Starry Intelligent Agent Service Platform 1.0 aims to address current pain points in AI development, particularly the issue of users navigating multiple apps to complete cross-scenario tasks [1][2] Group 1: Platform Features - The Starry Intelligent Agent Service Platform 1.0 is built on a "central control engine and multi-scenario intelligent agent collaborative architecture," focusing on AI restructuring basic services to create a comprehensive intelligent service ecosystem [2] - The "Starry Little Chen" intelligent agent serves as a unified entry point across devices, allowing users to issue complex tasks without switching between multiple apps, emphasizing compatibility, simplicity, and openness [2][3] Group 2: Core Capabilities - The platform's "dialogue-as-a-service" experience is supported by four core capabilities, with the model capability acting as the brain of the intelligent agent, featuring a tree structure for rapid routing and deep understanding of user intent [3] - Memory capability enhances user engagement by creating user profiles through a data feedback loop, allowing the system to recognize user preferences and improve service personalization over time [3] Group 3: Industry Transformation - The launch of the Starry Intelligent Agent Service Platform 1.0 signifies a shift for telecom operators from being mere "connectivity service providers" to "intelligent service enablers," driven by policy incentives, technological advancements, and increasing market demand [4][5] - The integration of intelligent agents is seen as a strategic opportunity for telecom operators to reclaim their position in the value chain, especially as the digital economy evolves and user demands for personalized services grow [5][6] Group 4: Market Opportunities - The unified entry point "Starry Little Chen" aims to connect various scenarios such as communication, home services, payments, and tourism, providing ecosystem partners with access to a vast user base without the need for multiple system integrations [6] - Analysts believe that the "platform + ecosystem" model could significantly enhance value-added services and data operation revenues for telecom operators if successfully implemented [6]

中证报中证网讯（记者 武卫红）12月4日至7日，中国电信2025数智科技生态大会在广州举办。在大会 举办之际，中国电信于12月4日-5日举办中国电信控股上市公司集中路演活动。 本次活动由中国电信集团有限公司、中国电信股份有限公司、中国通信服务股份有限公司、新国脉数字 文化股份有限公司、北京辰安科技股份有限公司、科大国盾量子技术股份有限公司共同承办，中国电信 集团市场部、财务部、云网发展部、科技创新部、资本运营部、云公司、AI公司、电信股份投资者关 系部主要负责人及中国通信服务、国脉文化、辰安科技、国盾量子等上市公司管理层共同出席，与投资 者互动交流。 本次活动还特别组织投资者、分析师参与2025数智科技生态大会主论坛及特色展区参观活动，全面展示 中国电信"云改数转智惠"战略升级成效，让投资者近距离感受企业在算力、平台、数据、模型、应用等 方面的科技创新成果与战新业务布局，通过沉浸式体验与深度交流，进一步增进了对中国电信及控股上 市公司投资价值的认同。投资者对中国电信精准把握人工智能发展机遇，乘势推动企业战略向"云改数 转智惠"全面升级、全方位拥抱人工智能的发展路径表示高度认可，进一步增强了长期投资信心。 中国 ...