Core Insights - The "Data Element ×" competition in Hunan concluded successfully, with 137 awarded projects, including 28 first prizes representing Hunan in the national finals, showcasing the city's strong performance in the data element market reform [1][2] Group 1: Competition Overview - The competition featured 14 tracks, with Changsha winning 64 awards, including 21 first prizes, demonstrating its leadership in the province [1] - The event served as a platform for showcasing innovative applications of data elements across various industries, enhancing the visibility of data-driven projects [4] Group 2: Data Element Applications - In the biomedicine track, a project by Douzheng Biomedicine reduced clinical research time by 31.14%, addressing the challenges of long timelines and high costs in drug development [2] - In the smart manufacturing track, a project by ZTE Corporation achieved a 13.1% reduction in standard costs and saved over 10 million yuan annually through data-driven capabilities [2] - In the cultural tourism track, Hunan Happy Sunshine Interactive Entertainment's project is expected to generate annual revenues between 10 million to 17 million yuan from data circulation and 10 million to 55 million yuan from intelligent services [3] - In the modern agriculture track, a collaborative project has served over 52 million users and facilitated transactions worth 54 billion yuan, significantly enhancing agricultural productivity through data intelligence [3] Group 3: Future Directions - The competition is seen as a catalyst for further market-oriented reforms in data elements, with plans to open high-value datasets and foster innovative applications across various sectors [4][5] - Changsha aims to leverage its strengths in audio-visual, cultural tourism, and healthcare industries to create high-quality datasets and promote the application of large model technologies [5]

2025年9月20日，沉浸式通信技术论坛暨第三届网媒融合论坛在深圳大学成功举办。本次论坛由中兴通讯股份有限公司、深圳大学、清华大学联合主办，移 动网络和移动多媒体技术国家重点实验室（简称 "实验室"）、深圳大学电子与信息工程学院承办。论坛邀请到深圳大学校长毛军发，深圳大学教授丁文 华，北京邮电大学教授张平，以及来自深圳大学、清华大学、北京理工大学、浙江大学、上海交通大学、东南大学、中国移动、腾讯科技、中兴通讯等单位 的领导和专家两百余人出席。中兴通讯总裁徐子阳，执行副总裁、首席技术官王喜瑜，实验室主任谢大雄，高级副总裁、首席战略官王翔出席论坛。 开幕式上，深圳大学校长毛军发、中兴通讯总裁徐子阳分别致开幕词。 毛军发在致辞中称，深圳大学与中兴通讯一道，深度参与实验室网媒融合研究，取得突出成果。期待以本次论坛为契机，深化产学研用协同创新，共同突破 沉浸式通信与网媒融合核心关键技术。 论坛上午还就沉浸式通信生态建设等问题展开专题开放研讨，与会专家一致认为，可围绕沉浸式通信、网媒融合相关领域成立行业及生态联盟，集聚产学研 各方力量，共同推进网媒融合相关产业发展。 论坛间隙，与会专家参观了由中兴通讯及实验室完成的基于人 ...

Core Insights - The Ministry of Industry and Information Technology announced the selection of ZTE's Nanjing factory as a "2025 Excellent Smart Factory," highlighting its achievements in digital transformation and smart manufacturing [1][4]. Group 1: Smart Factory Development - ZTE's Nanjing factory is recognized for its "intelligent and highly flexible 5G base station product smart factory," marking a significant milestone in the "AI+" smart manufacturing sector [1][4]. - The smart factory initiative is part of a broader strategy to integrate new-generation information technology with advanced manufacturing, aiming to enhance quality, reduce costs, and create value [3]. Group 2: Technological Innovations - The factory has implemented a "flexible digitalization" design, utilizing advanced technologies such as 5G cloud-based AGVs, robots, and machine vision, achieving an automation rate of 82% [6]. - ZTE's Nanjing factory has undergone a three-phase development plan over five years, transitioning from "Digital Nanjing" to "5G Nanjing" and finally to "Smart Nanjing," resulting in a 42% increase in production efficiency and a 66% reduction in energy consumption per unit of output [6]. Group 3: Industry Impact - The factory's innovations have empowered over a thousand enterprises in various sectors, including electronics, mining, steel, and power, facilitating their digital transformation [6]. - The integration of AI technology with industrial manufacturing at ZTE's Nanjing factory contributes to China's transition from traditional manufacturing to intelligent manufacturing, supporting the country's goal of becoming a manufacturing powerhouse [7].

【导读】中证全球算力主题指数、中证沪深港算力主题指数将于9月24日正式发布 9月23日，中证指数有限公司发布消息称，将于9月24日正式发布中证全球算力主题指数、中证沪深港算力主题指数，为市场提供多样化的业绩比较基准与 投资标的。 具体来看，中证全球算力主题指数，是从全球市场中选取业务涉及数据中心建设、运营及相关硬件设备制造等算力领域的上市公司作为指数样本公司，以 反映全球市场代表性算力领域上市公司证券的整体表现。 | | 中证全球算力主题指数样本名单 | | | --- | --- | --- | | 证券代码 | 证券中文简称 | 证券英文名称 | | Stock | Stock Name | Stock Nore (Eng.) | | Code | | | | 000063 | 中兴通讯 | ZTE Corporation | | 000938 | 紫米股份 | Unisplendour Corporation Limited | | 000977 | 浪潮信息 | leit Systems Co., Ltd. | | 000988 | 华工科技 | Huagang Tech Campany Limite ...

Investment Rating - The report indicates a positive outlook for the communication industry, suggesting a potential shift towards a "stronger gets stronger" dynamic due to technological and capital barriers [1]. Core Insights - The communication industry is experiencing a transformation driven by technology and policy support, with a shift in demand from traditional to emerging services [1][39]. - The industry is expected to enter a recovery phase in Q3 2025, with capital expenditure expansion driven by technological breakthroughs and new infrastructure initiatives [39]. - The demand for AI computing power, accelerated commercialization of 5G-A, breakthroughs in 6G technology, and the rise of the "low-altitude economy" are key factors driving the industry's upgrade [1][39]. Supply Capacity Analysis - The report highlights the growth in the optical communication sector, particularly in high-speed optical modules, driven by AI computing demand and increased capital expenditure from global cloud service providers [3][10]. - The domestic penetration rate of traditional optical fiber and cable is nearing saturation, prompting companies to accelerate international expansion [5][4]. - The communication equipment integration market is recovering, with the Asia-Pacific region leading in 5G system integration and services [6]. Demand Matching Capability Analysis - The demand for optical modules, especially high-speed products for data centers, is robust, with a projected shipment increase from 6.4 million units in 2023 to over 31.9 million units by 2025 [3]. - The communication equipment market is experiencing strong growth, with a year-on-year revenue increase of 18.9% in Q2 2025, despite a contraction in 5G investment [11]. - The telecommunications service sector is seeing a shift towards emerging businesses, with significant growth in AI computing and quantum communication services [15][30]. Industry Chain Position Analysis - The communication industry is characterized by a high degree of market concentration, particularly among leading companies in optical communication and equipment integration [24][27]. - The report notes that traditional communication services are facing saturation, with new business areas becoming the core of competitive differentiation [28]. Innovation Capability Analysis - The report emphasizes the importance of policy support for technological advancements, particularly in AI, 6G, and satellite communication [31][32]. - Significant R&D investments are being directed towards AI and 6G technologies, with major companies like China Mobile leading initiatives in these areas [34]. Credit Rating Situation Analysis - The communication industry is witnessing a favorable credit environment, with a total bond issuance of 17.35 billion yuan in Q2 2025, primarily from leading companies [36][37]. - The report indicates that the dual barriers of technology and capital for leading firms will become more pronounced, reinforcing the trend towards market consolidation [36]. Cycle Development Outlook - The communication industry is expected to see revenue and profit growth, with cash flow recovery anticipated in Q3 2025 [38]. - The report forecasts a transition to an expansion phase driven by new infrastructure investments and a focus on domestic demand [39]. Key Segment Development Trends - The optical communication sector is evolving towards ultra-high-speed, intelligent, and integrated solutions, supporting the AI computing network [40]. - The commercialization of 5G-A and advancements in 6G technology are expected to enhance the capabilities of communication equipment integrators [41]. - Telecommunications services are anticipated to diversify, with new opportunities arising from the low-altitude economy and satellite internet developments [42].

Core Insights - The AI mobile concept sector experienced a significant increase of 4.06%, ranking second among concept sectors in terms of growth [1][2] - A total of 22 stocks within this sector saw gains, with Changying Precision hitting the daily limit up at 20% [1] - Leading gainers included Siqun New Materials, Jiangbolong, and Lingyi Technology, with respective increases of 11.75%, 9.96%, and 9.12% [1] Market Performance - The AI mobile concept sector attracted a net inflow of 29.22 billion yuan from major funds, with 15 stocks receiving net inflows [2] - Lingyi Technology topped the net inflow list with 19.71 billion yuan, followed by Changying Precision, ZTE, and Wanrun Technology with net inflows of 7.96 billion yuan, 6.12 billion yuan, and 5.95 billion yuan respectively [2] - The top three stocks by net inflow ratio were Wanrun Technology (20.38%), Lingyi Technology (18.98%), and Pengding Holdings (14.99%) [3] Stock Highlights - Lingyi Technology recorded a daily increase of 9.12% with a turnover rate of 9.84% and a net inflow of 197.12 million yuan [3] - Changying Precision saw a rise of 20.01% with a turnover rate of 19.24% and a net inflow of 79.57 million yuan [3] - Wanrun Technology increased by 10.01% with a turnover rate of 22.42% and a net inflow of 59.52 million yuan [3]

Group 1 - The AI glasses concept index rose by 2.52%, ranking 9th among concept sectors, with 115 stocks increasing, including Longying Precision and Zhongke Lanyun reaching a 20% limit up [1][2] - Leading stocks in the AI glasses sector included Chipone Technology, Jucheng Technology, and Runxin Technology, which saw increases of 17.34%, 15.35%, and 13.97% respectively [1][2] - The sector experienced a net inflow of 5.688 billion yuan, with 86 stocks receiving net inflows, and 18 stocks exceeding 100 million yuan in net inflow [2][3] Group 2 - The top net inflow stock was Lingyi Technology, with a net inflow of 1.971 billion yuan, followed by Luxshare Precision, Longying Precision, and ZTE Communications with net inflows of 1.051 billion yuan, 796 million yuan, and 612 million yuan respectively [2][3] - The highest net inflow ratios were observed in Biyi Co., Guoguang Electric, and Keri Technology, with net inflow ratios of 56.65%, 50.00%, and 21.18% respectively [3][4] - The AI glasses sector's performance was supported by significant trading volumes, with stocks like Lingyi Technology and Luxshare Precision showing high turnover rates of 9.84% and 1.25% respectively [3][4]

Market Overview - On September 22, the communication equipment sector rose by 0.2% compared to the previous trading day, with Guangku Technology leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Top Gainers in Communication Equipment Sector - Guangku Technology (300620) closed at 138.21, up 10.27% with a trading volume of 374,600 shares [1] - Yongding Co., Ltd. (600105) closed at 11.00, up 10.00% with a trading volume of 1,934,300 shares [1] - Dingxin Communication (603421) closed at 8.17, up 9.96% with a trading volume of 508,600 shares [1] - Other notable gainers include Guangxun Technology (002281) up 6.88% and Feiling Kesi (301191) up 4.94% [1] Top Losers in Communication Equipment Sector - Sega Technology (002796) closed at 19.59, down 7.68% with a trading volume of 480,600 shares [2] - Kunheng Shunwei (688283) closed at 31.15, down 5.12% with a trading volume of 32,900 shares [2] - Changying Tong (688143) closed at 48.09, down 4.89% with a trading volume of 73,700 shares [2] Capital Flow Analysis - The communication equipment sector experienced a net outflow of 1.746 billion yuan from institutional investors, while retail investors saw a net inflow of 1.607 billion yuan [2] - Notable net inflows from retail investors were observed in stocks like Guangku Technology and Guangxun Technology, while significant outflows were noted in stocks like ZTE Corporation [3] Individual Stock Capital Flow - ZTE Corporation (000063) had a net inflow of 560 million yuan from institutional investors, but a net outflow of 378 million yuan from retail investors [3] - Yongding Co., Ltd. (600105) saw a net inflow of 531 million yuan from institutional investors, with a net outflow from retail investors [3] - Guangxun Technology (002281) had a net inflow of 502 million yuan from institutional investors, while retail investors experienced a net outflow [3]

Core Viewpoint - The traditional family scene is experiencing a shift in demand for networking and intelligence under the AI wave, with ZTE Corporation launching a series of products targeting the AI home market, expanding from a single network access to a comprehensive AI home ecosystem [2][4]. Group 1: AI Home Market Expansion - ZTE's AI home products cover four key areas: AI home network, AI computing power, AI smart screens, and AI home robots, indicating a shift from passive to proactive service provision [2][4]. - The company aims to evolve its existing infrastructure to achieve personalized services in family scenarios, moving towards a "one person, one experience" model [2]. Group 2: Robotics Market Strategy - ZTE has introduced the companion robot Mochi, focusing on the companion segment of the robotics market, which is divided into various niches such as companion, functional, and embodied robots [2][3]. - The company plans a three-step approach in the home robot market: transitioning from tools to housekeepers, and ultimately to family members, to create a differentiated development path [3]. Group 3: Integration of Home Applications - ZTE aims to aggregate various applications in family scenarios through connected devices, emphasizing seamless switching and application integration rather than just speed on the network side [4]. - The company is developing a central screen to unify information interaction among multiple screens in the home, which will serve as a crucial entry point for family members [4]. - The ultimate goal is to have devices that can genuinely become part of the family, capable of sensing emotional changes and understanding family members' states through embedded computing power [4].

Group 1: Key Manufacturing Enterprises - Xi'an's Mayor Ye Niuping led a delegation to Shenzhen to discuss collaboration with key manufacturing enterprises, including Huichuan Technology, Luxshare Precision, China Resources Group, ZTE Corporation, Huawei, and BYD, to enhance cooperation and accelerate the construction of the Xi'an regional innovation center [1][2][3][4] - Huichuan Technology's Chairman Zhu Xingming emphasized the alignment of their business layout with Xi'an's semiconductor, photonics, and energy industries, expressing commitment to increase investment in technology and accelerate new product development [1] - Luxshare Precision is recognized as a global benchmark in electronic precision manufacturing, with plans to leverage Xi'an's technological and talent resources to enhance cooperation in semiconductors and automotive components [2] Group 2: Strategic Collaborations - China Resources Group's General Manager Wang Cuijun highlighted the significant cooperation outcomes in semiconductor and smart home appliance manufacturing, aiming to strengthen strategic leadership and expand investment in Xi'an [2] - ZTE Corporation aims to deepen collaboration in smart city initiatives, 5G applications, and intelligent manufacturing, with a focus on developing new technologies and products [3] - Huawei's rotating chairman Meng Wanzhou expressed the company's commitment to integrate more advanced technologies into Xi'an's economy, particularly in digital energy and communication terminals [3] Group 3: Automotive Industry Focus - BYD's Chairman Wang Chuanfu discussed enhancing cooperation in smart connected vehicles and comprehensive energy services, aiming to accelerate project implementation and improve supply chain integration in Xi'an [4] - The automotive industry is positioned for transformation, with BYD planning to advance its development in smart connected vehicles and continue innovation in technology and products [4]