证券代码（A/H）：000063/00763 证券简称（A/H）：中兴通讯 公告编号：202555 中兴通讯股份有限公司 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司未发现近期公共媒体报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息。 3、目前公司生产经营活动一切正常，内外部经营环境未发生重大变化。 4、公司、控股股东不存在关于公司的应披露而未披露的重大事项，或处于 筹划阶段的重大事项；上述股票异常波动期间，公司控股股东不存在买卖公司股 票的行为。 股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 中兴通讯股份有限公司（以下简称"公司"）A股股票（证券简称：中兴通 讯，证券代码：000063）于2025年8月20日、8月21日、8月22日连续三个交易日 收盘价格涨幅偏离值累计达到20%以上，根据深圳证券交易所的相关规定，属于 股票交易异常波动情形。 二、公司关注并核实的情况说明 根据相关规定的要求，公司进行了必要核实，现对有关核实情况说明如下： 2、根据《深圳证券交易所股票上市规 ...

股市慢牛来了，你准备好了吗？备好账户跟进牛市，更有五大福利领取>> 中兴通讯8月24日公告，公司A股股票于2025年8月20日､8月21日､8月22日连续三个交易日收盘价格涨幅 偏离值累计达到20%以上，根据深圳证券交易所的相关规定，属于股票交易异常波动情形。 经核实， 公司前期披露的信息不存在需要更正、补充之处。公司未发现近期公共媒体报道了可能或已经对公司股 票交易价格产生较大影响的未公开重大信息。 目前公司生产经营活动一切正常，内外部经营环境未发 生重大变化。公司、控股股东不存在关于公司的应披露而未披露的重大事项，或处于筹划阶段的重大事 项；上述股票异常波动期间，公司控股股东不存在买卖公司股票的行为。 ...

Investment Rating - The report maintains an "Outperform the Market" rating for the communication industry [5][62]. Core Insights - The communication industry is experiencing rapid growth driven by AI data center demand, with significant advancements in domestic computing power infrastructure and GPU chip development [2][20]. - The release of DeepSeek V3.1 marks a breakthrough in training models using domestic chips, enhancing efficiency and compatibility with various hardware [1][19]. - The overall market performance of the communication sector has outpaced the broader market, with a notable increase in the communication index [49]. Summary by Sections Industry News Tracking - DeepSeek V3.1 was launched, utilizing next-generation domestic chips for training, which improves memory efficiency and processing speed [1][19]. - The Ministry of Industry and Information Technology (MIIT) is guiding the construction of computing power facilities to enhance GPU chip technology [20][21]. Performance of Computing Power Infrastructure Companies - In the first half of 2025, Invec reported total revenue of 2.573 billion yuan, a year-on-year increase of 50.3%, driven by AI data center demand [2][22]. - Ruijie Networks achieved total revenue of 6.649 billion yuan in the same period, reflecting a 31.8% year-on-year growth, with net profit soaring by 194% due to strong demand from AI data centers [2][30]. Overseas Computing Power Chain - NVIDIA launched the Spectrum-XGS Ethernet, facilitating the connection of distributed data centers into a billion-watt AI super factory [3][39]. - In July 2025, cable exports saw a month-on-month increase of 16.6%, indicating sustained industry vitality [3][41]. Investment Recommendations - The report suggests focusing on various segments of AI computing power infrastructure, including optical communication and domestic computing power companies [4][56]. - Long-term investment in the three major telecom operators is recommended due to their stable operations and increasing dividend payouts [4][56]. Key Company Earnings Forecast and Investment Ratings - China Mobile, Zhongji Xuchuang, and ZTE Corporation are rated as "Outperform the Market" with projected earnings per share (EPS) growth for 2025 [5][57].

Investment Rating - Industry Rating: Outperform the market (maintained rating) [7] Core Viewpoints - The AI computing direction is a key investment theme due to strong industry momentum and high demand, particularly in the overseas computing industry chain [3][29] - The report emphasizes the importance of the "AI + overseas + satellite" investment opportunities, highlighting the potential in AI infrastructure and applications in 2025 [4][30] - The satellite internet industry is gaining traction, with significant advancements expected to catalyze growth in related sectors [3][30] Summary by Sections 1. Artificial Intelligence and Digital Economy - Key recommendations include: - Optical modules & devices: Focus on companies like Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and Yuanjie Technology [5][32] - Switch server PCBs: Recommended companies include Hudian Co., ZTE, and Unisplendour [5][32] - Low valuation, high dividend: China Mobile, China Telecom, and China Unicom are highlighted for resource revaluation [5][32] - AIDC & cooling: Key recommendations include Yingweike and Runze Technology [5][32] - AIGC applications: Focus on companies like Guohua Tong and Meige Intelligent [5][32] 2. Offshore Wind Power and Intelligent Driving - Key recommendations for offshore cable companies include Hengtong Optic-Electric, Zhongtian Technology, and Oriental Cable [6][33] - The report suggests focusing on companies with strong recovery potential in overseas markets, such as Huace Navigation and Weisheng Information [6][33] - For intelligent driving, recommended companies include Guanghe Tong and Meige Intelligent [6][33] 3. Satellite Internet and Low Altitude Economy - The report highlights the acceleration of low-orbit satellites and the low-altitude economy, recommending companies like Huace Navigation and Haige Communication [7][34] - Suggested companies for attention include Chengchang Technology and Zhenlei Technology [7][34] 4. Market Performance Review - The communication sector rose by 10.47% during the week of August 18-22, outperforming the CSI 300 index by 6.29 percentage points [35][36] - Notable performers included ZTE and Dekeli, while companies like ST Gaohong experienced declines [37][38]

- The report does not contain any quantitative models or factors for analysis[3][4][5]

Group 1 - A total of 56 stocks appeared on the weekly trading list, with 36 showing net buying from the Shenzhen Stock Connect [1][2] - The top three stocks with the highest net buying amounts were Zhinan Zhen (66,230.74 million), Heertai (46,761.50 million), and ZTE Corporation (45,382.50 million) [1][2] - The Shenzhen Stock Connect net bought stocks had an average increase of 19.32%, outperforming the Shanghai Composite Index, which rose by 3.49% [1][2] Group 2 - There were 20 stocks with net selling, with the highest net selling amounts from Yingweike (49,237.88 million) and Aerospace Science and Technology (16,516.29 million) [2][3] - The stock with the largest increase was Chengfei Integration, which saw a cumulative price increase of 35.53% during the week [1][2] Group 3 - The Food and Beverage ETF (product code: 515170) tracked the China Securities Food and Beverage Industry Theme Index and had a recent five-day change of 3.29% [4] - The Cloud Computing 50 ETF (product code: 516630) tracked the China Securities Cloud Computing and Big Data Theme Index and had a five-day change of 10.92% [5]

Index Performance - The CSI A500 Index increased by 4.27% this week, closing at 5198.91 points as of August 22 [5] - The average daily trading volume for the week was 8003.97 billion yuan, with a week-on-week increase of 32.60% [5] Component Stocks Performance - The top ten gainers this week included: 1. Cambrian (688256.SH) with a rise of 34.59% 2. Sinopec Capital (000617.SZ) up by 34.38% 3. ZTE Corporation (000063.SZ) increasing by 32.21% 4. Kunlun Wanwei (300418.SZ) up by 23.48% 5. Northern Rare Earth (600111.SH) rising by 22.95% [2] - The top ten losers included: 1. Quzhou Development (600208.SH) down by 11.68% 2. Giant Star Technology (002444.SZ) decreasing by 6.90% 3. Weilan Lithium Core (002245.SZ) down by 6.82% 4. Xuan Tai Medical (688617.SH) down by 5.66% 5. Tiger Med (300347.SZ) decreasing by 4.92% [2] Fund Performance - All 39 CSI A500 funds closed with a gain of 2% or more this week, with the leading fund being Huatai-PineBridge's A500 Index Fund (512370) which rose by 4.62% [5] - The total scale of CSI A500 funds reached 1810.70 billion yuan, showing an increase compared to the previous week [5] - The top three funds by scale are: 1. Huatai-PineBridge with 203.31 billion yuan 2. Guotai Fund with 183.57 billion yuan 3. E Fund with 183.57 billion yuan [5] Market Outlook - Shenyin Wanguo Securities reported a continued bullish market atmosphere, expecting strong performance to persist until early September, with limited corrections thereafter [5] - Guotai Junan Securities emphasized a cautious optimism regarding the market's upward potential, suggesting that a transition from liquidity-driven growth to fundamental-driven growth is necessary for sustained upward movement [5]

（原标题：主力资金丨尾盘加仓，15股净流入超1亿元） 9个行业主力资金净流入。 这些龙头股获主力资金大幅抢筹 从资金流向来看，申万一级行业中，9个行业获主力资金净流入。计算机行业净流入金额居首，达47.99亿元；电子、传媒、非银金融和通信行业 净流入金额均超21亿元。 行业板块方面，24个申万一级行业上涨，电子行业涨幅居首，达4.82%；通信和计算机行业涨幅居前，均超3%。7个下跌行业中，银行行业跌幅居 首，达0.3%。 据证券时报·数据宝统计，今日（8月22日）沪深两市主力资金净流出27.68亿元，其中创业板净流入24.91亿元，沪深300成份股净流入74.27亿元。 从个股来看，135股主力资金净流入均超1亿元，其中16股净流入在5亿元以上。 互联网券商龙头股东方财富主力资金净流入19.87亿元，居首；该股今日成交额达249.7亿元，也居首位，股价上涨3.92%。热门通信龙头中兴通讯 主力资金净流入16.97亿元，居次席，股价逼近涨停。 AI大模型概念股昆仑万维主力资金净流入12.92亿元，净流入额创2025年5月22日以来新高。该股"20cm"涨停，盘后龙虎榜数据显示，上榜营业部 席位全天成交21.96 ...

Market Performance - The Shanghai Composite Index, Shenzhen Component Index, ChiNext Index, and STAR Market 50 Index all experienced upward movement, with the Shanghai Composite Index surpassing 3800 points and the STAR Market 50 Index rising over 8% [1] - By the end of trading, the Shanghai Composite Index closed at 3825.76 points, up 1.45%, with a trading volume of 1.0951 trillion yuan; the Shenzhen Component Index closed at 12166.06 points, up 2.07%, with a trading volume of 1.4516 trillion yuan; the ChiNext Index closed at 2682.55 points, up 3.36%, with a trading volume of 697.74 billion yuan; the STAR Market 50 Index closed at 1247.86 points, up 8.59%, with a trading volume of 110.4 billion yuan [1] Sector Performance - Most industry sectors and concepts saw gains, with electronics, securities, communications, education, computers, defense, media, power equipment, and insurance leading the way [3] - Active concepts included storage chips, computing power, multi-modal AI, cameras, brokerages, CPO, holographic technology, PCB, and quantum technology [3] - Conversely, sectors such as banking, textiles, coal, oil and petrochemicals, and steel experienced declines [3] Individual Stock Performance - A total of 2720 stocks rose, while 2210 stocks fell, with 214 stocks remaining flat and 9 stocks suspended [3] - Among the stocks that hit the daily limit, 14 stocks had consecutive limit-up days of 2 or more, with Kosen Technology achieving the highest at 6 consecutive limit-ups [4] Fund Flow - The net outflow of main funds from the Shanghai and Shenzhen markets was 2.768 billion yuan, with the ChiNext seeing a net inflow of 2.491 billion yuan and the CSI 300 seeing a net inflow of 7.427 billion yuan [5][6] - The computer sector had the highest net inflow of main funds at 4.799 billion yuan, followed by electronics, media, non-bank financials, and communications [6] Notable Stocks - 135 stocks received net inflows of over 100 million yuan, with Dongfang Caifu leading at 1.987 billion yuan [11][12] - Conversely, 101 stocks experienced net outflows exceeding 100 million yuan, with Meiri Interactive seeing the largest outflow at 623 million yuan [13][15] Institutional Activity - Institutional investors had a net buy of approximately 860 million yuan, with the highest net buy in Heertai at about 262 million yuan [17][18] - The stocks with the highest institutional net buy included Kunlun Wanwei, Chuanrun Shares, and Shunwang Technology [18]

Group 1: Stock Market Activity - On the institutional trading leaderboard, 32 stocks were listed, with 16 showing net buying and 16 showing net selling [1] - The top three stocks with the highest net buying by institutions were ZTE Corporation (1.105 billion), Kunlun Wanwei (274 million), and Heertai (262 million) [1] - ZTE Corporation saw a price increase of 9.38%, Kunlun Wanwei increased by 20.01%, and Heertai rose by 10.02% [1] Group 2: Domestic Chip Industry - Domestic AI chip manufacturers like Cambricon and Haiguang Information are gaining traction, with Haiguang planning to merge with Zhongke Shuguang [2] - The domestic GPU market is entering a rapid development phase, transitioning from "usable" to "good" [2] - Companies like Moer Thread are enhancing AI computing power with their latest GPU architecture, supporting advanced AI model training [2] Group 3: GPU Market Forecast - According to Frost & Sullivan, the global GPU market is expected to reach 3.611974 trillion yuan by 2029, with China's GPU market projected to reach 1.363578 trillion yuan [3] - China's market share in the global GPU market is anticipated to increase from 30.8% in 2024 to 37.8% by 2029 [3] Group 4: RWA and Digital Currency - Zhongyou Capital's subsidiary, Kunlun Bank, is the only official bank for international settlements between China and Iran, and is involved in digital RMB payment services [4] - Yuyin Co. has established a digital currency research center to explore applications in digital currency transactions [4] - RWA is seen as a means to enhance efficiency and reduce costs, facilitating financial globalization and decentralization [4]