Core Viewpoint - The Vice President of ZTE and General Manager of Nubia's flagship products, Zhang Lei, expressed skepticism about the 20th anniversary iPhone not featuring a true full-screen design, emphasizing that the development of full-screen technology requires time and technical accumulation [1][4]. Group 1 - Zhang Lei highlighted that the concept of full-screen has been discussed for a long time, yet the 20th anniversary iPhone has not delivered on this promise [1][4]. - He pointed out that the development of full-screen technology is not something that can be achieved easily or quickly, indicating the complexity involved [1][4]. - Nubia has invested in seven generations of under-screen technology, which has led to the creation of the Nubia Z80 Ultra, offering a true full-screen experience without any cutouts [1][4]. Group 2 - Zhang Lei expressed anticipation for Apple to eventually adopt full-screen technology, suggesting that consumers who are eager for such features should consider the Nubia Z80 Ultra, which is expected to perform well in various rankings by 2025 [1][4].

Summary of Conference Call Records Company: ZTE Corporation Key Points - ZTE Corporation's self-developed chip capabilities are gaining market attention, with the company possessing the ability to develop core chips such as CPUs, switching chips, inter-card connection chips, and DPUs [1] - In 2026, multiple product iterations are expected to be launched, highlighting ZTE Micro's undervalued core competitiveness [1] - ZTE Micro's chip self-development capabilities are notable, with anticipated releases including a 51.2T switching chip and a 51.2T inter-card connection chip [1][1] - The company's CPU, the Summit chip, is expanding its market share among operators and has achieved mass application with major clients, which is significant [1] - ZTE is also focusing on breakthroughs in AI, particularly in the DPU and GPU sectors [1] Company: Nubia Technology Key Points - Nubia's smartphone division is enhancing its influence with flagship releases such as the Red Magic 11 Pro series and Nubia Z80 Ultra, integrating AI capabilities deeply with the Doubao model [2] - The company has launched the M153, further collaborating with Doubao to incorporate the Doubao mobile assistant, indicating a strong outlook for Nubia in the AI smartphone sector [2] - In the server domain, Nubia is experiencing high growth driven by breakthroughs with internet giants, with computing revenue increasing by 180% year-on-year, accounting for 25% of total revenue [2] - Server and storage revenue grew by 250% year-on-year, while data center product revenue increased by 120% [2] - Nubia's intelligent computing servers have entered the core business scenarios of major domestic internet and financial companies, including Alibaba, Tencent, ByteDance, Baidu, JD.com, Meituan, and Kuaishou [2] - The company is fully integrating AI and expanding its "connection + computing" strategy, with promising developments in the computing + AI terminal field [2] - Nubia is investing in AI direction, building a core competitiveness in "chips + complete machines + modular R&D + AI" [2][3] Additional Insights - Nubia is positioning itself as a rare leading enterprise in the computing field, spanning across "chips," "connectivity," and "terminals," which enhances its market competitiveness [5] - The introduction of intelligent computing supernode systems aims to support the creation of highly efficient large-scale intelligent computing clusters [4]

Core Insights - Latin America has emerged as one of the most fruitful regions for the "Digital Silk Road" cooperation, driven by Chinese digital technology and collaboration concepts [1] - The digital infrastructure initiatives in Latin America, particularly in cloud computing, 5G communication, and smart agriculture, are significantly enhancing regional cooperation and development [2][3] Digital Infrastructure as a Foundation for Cooperation - Huawei's cloud data center in Santiago, Chile, is providing quality cloud services and attracting clients from neighboring countries like Argentina and Peru, reinforcing Chile's position as a digital hub in Latin America [2] - Chile's "Digital Nation Strategy" aims to establish a data hub in the Southern Hemisphere, with Chinese companies playing a crucial role in this transformation [2] - Various countries in Latin America, including Brazil and Mexico, are collaborating with Chinese firms to enhance their digital infrastructure, which is vital for bridging the development gap [3] Empowering Industries and Enhancing Livelihoods - Chinese smart port technology is being implemented in Santos Port, Brazil, improving operational safety and efficiency [4] - The integration of digital technologies in traditional industries, such as agriculture in Brazil and Argentina, is leading to significant improvements in productivity and efficiency [4] Realizing Digital Benefits in Daily Life - Farmers in Puebla, Mexico, are benefiting from the "Digital Rural Project," which has increased their profits by 20% through digital marketing and e-commerce platforms [5] - Cross-border e-commerce is facilitating the flow of goods between China and Latin America, enhancing trade efficiency and creating job opportunities in logistics and customer service [6] Cultivating Digital Talent for Development - The "Future Seeds" program in Peru is fostering digital skills among youth while promoting cultural exchange, exemplifying the educational cooperation between China and Latin America [7] - Initiatives like the China-Latin America Digital Education Alliance are aimed at nurturing a skilled workforce capable of driving digital transformation in the region [7] Expanding Cooperation Across Various Fields - The "Digital Silk Road" is not only about technology transfer but also about building trust and collaboration between China and Latin America, enhancing e-commerce vitality and digital infrastructure coverage [8] - Latin American countries are eager to deepen cooperation with China in digital economy and education, recognizing the potential for sustainable development [8]

Group 1 - The EU is preparing a new proposal to shift from voluntary guidelines to mandatory regulations targeting Chinese suppliers, including telecom networks, security equipment, and solar systems [1] - The previous 5G security toolbox allowed member states to make their own decisions, leading to inconsistent implementations across countries, with some like Sweden and Germany tightening regulations while others like Spain and Greece continued using Huawei and ZTE due to cost and reliability [1] - The new proposal aims to unify regulations and impose penalties for using high-risk Chinese equipment in critical infrastructure, potentially leading to lawsuits and fines at the EU level [1] Group 2 - The EU's energy transition goals are at odds with the current supply chain realities, as over 90% of solar panels installed in the EU come from China, raising concerns about the feasibility of replacing these supplies without significant cost increases and project delays [3] - The push for strategic autonomy from China and the US is complicated by the lack of viable alternatives, leading to fears that a forced decoupling could harm the EU's green transition efforts [3] - The proposal's success depends on the reactions of member states, as national security is traditionally managed by individual countries, and the EU's attempt to enforce compliance may face strong resistance from nations like Germany and Spain [3] Group 3 - Telecom operators are particularly concerned about the financial burden of replacing Chinese equipment, which could cost billions of euros and slow down network development, ultimately impacting consumers through higher fees and reduced service quality [5] - Some countries, like Spain, are taking a pragmatic approach, with contracts in place that assert no security risks associated with Chinese suppliers, contrasting with the EU's more aggressive stance [5] - Germany's situation is sensitive due to the significant presence of Huawei equipment, and any forced timeline for equipment removal could lead to backlash from the government and industry, especially in a fragile economic environment [5] Group 4 - The proposal will undergo a lengthy legislative process, requiring approval from the EU Parliament and negotiations with member states, indicating that the path to implementation will be complex and contentious [7] - The debate reflects a clash between political correctness and economic rationality, with stakeholders weighing the importance of security against the potential costs and inefficiencies of strict regulations [7] - The overarching risk lies in potentially missing opportunities for digital and green advancements due to a focus on security, which could lead to greater inefficiencies and costs in the long run [7]

Group 1 - The global share of China's essential patents for 5G standards has reached 42%, and the first phase of 6G technology trials has been completed, with over 300 key technology reserves formed [2] - The development of 6G technology is entering a critical window, with significant focus on the integration of low-orbit satellite networks and a comprehensive space-ground-sea network [2] - Companies are actively engaging in 6G-related business, with a focus on millimeter-wave technology as a core frequency band for 6G [3] Group 2 - Companies like 创远信科 are upgrading testing technologies and instruments towards higher frequency bands and greater bandwidth, with a focus on terahertz testing and AI communication testing [3] - 昂瑞微 is targeting the U6G frequency band and developing high-performance components, including high-power amplifiers and low-noise amplifiers, to enhance their competitive edge in RF solutions [4] - 紫光股份 is leveraging its strengths in ICT infrastructure to provide comprehensive ICT services for 6G networks, participating in various hardware and software service projects [4] Group 3 - 中兴通讯 has been actively involved in the IMT 2030 (6G) promotion group, contributing to testing and research in key technology areas such as 6G and AI integration [4] - 创远信科 has initiated the second phase of 6G technology trials and is focusing on the application of 6G+AI technology in specific scenarios like satellite internet and smart connected vehicles [5] - 瑞可达 is developing solutions for 6G communication and commercial satellite applications, while 臻镭科技 is positioning itself as a core chip supplier for 6G satellite internet [5]

Group 1 - The core point of the article is that ZTE Corporation reported its total number of shareholders as of January 20, 2026, which stands at 610,003, including 609,717 A-share shareholders and 286 H-share shareholders [1] Group 2 - The breakdown of shareholders indicates a significant majority of A-share holders compared to H-share holders, highlighting the company's stronger presence in the A-share market [1] - The data reflects the company's engagement with its investors through interactive platforms, showcasing transparency and communication [1] - The inclusion of both registered and non-registered shareholders in the H-share count suggests a comprehensive approach to shareholder representation [1]

Core Viewpoint - The company focuses on liquid cooling products for the network communication and server sectors, aiming to expand its market presence and enhance business scale and efficiency through strategic partnerships [1] Group 1: Product Focus - The core products include liquid cooling plate modules and comprehensive liquid cooling solutions [1] - The company has established partnerships with major domestic players such as ZTE Corporation in the server sector [1] Group 2: Market Expansion - The company has gained sample qualification and collaboration opportunities with North American and Taiwanese clients [1] - The liquid cooling business is identified as a key area for breakthrough and market expansion [1]

Core Viewpoint - The European Commission has proposed a draft revision of the EU Cybersecurity Act, which aims to phase out "high-risk suppliers" of ICT equipment in critical sectors such as telecommunications, energy, and healthcare, thereby reducing reliance on third-country suppliers and mitigating potential security risks [3][5]. Group 1: Legislative Changes - The draft strengthens the supply chain security management framework by making previously voluntary guidelines mandatory, expanding the scope beyond just 5G networks to include hardware, software, and certain AI models [3][6]. - The new measures will apply to 18 critical sectors recognized by the EU, including telecommunications, cloud services, medical devices, and semiconductor industries [6]. Group 2: Impact on Companies - Although the draft does not explicitly name any countries or companies, it is expected to significantly impact Chinese tech firms like Huawei and ZTE [5][8]. - Mobile operators will have 36 months to gradually eliminate key components from their networks after the "high-risk supplier" list is published, with specific deadlines for fixed networks and other technologies to be determined later [8]. Group 3: Industry Reactions - The European telecommunications lobbying group, Connect Europe, has warned that the forced replacement of existing equipment could impose additional regulatory and replacement costs amounting to billions of euros [9]. - Chinese companies and officials have expressed serious concerns about the proposed measures, arguing that they violate market principles and could hinder investment from Chinese firms in Europe [10][11].

Group 1 - The European Union plans to remove Chinese telecom equipment and electronic products, including 5G base station equipment, semiconductors, autonomous vehicles, and solar panels, which is expected to harm companies like Huawei and ZTE while benefiting local firms such as Samsung Electronics [1][2] - The EU's new cybersecurity law draft includes provisions for the phased removal of equipment from "high-risk suppliers" across 18 industries, with specific details on wired and wireless networks to be announced later [1] - The EU reported a 22% increase in network attacks supported by "specific countries" in the second quarter of last year, resulting in losses of up to $391 billion, highlighting the strategic risks posed to democracy, economy, and lifestyle [1] Group 2 - The term "high-risk suppliers" is viewed as a regulatory measure targeting China, as European countries have heavily relied on affordable Chinese equipment, which is 20% to 40% cheaper than comparable European products [2] - The implementation of the cybersecurity law will necessitate a significant investment in replacing network infrastructure, with the GSMA estimating that excluding Chinese equipment could increase the cost of 5G deployment in Europe by approximately €55 billion (around 100 trillion KRW) [2] - European companies Nokia and Ericsson are expected to benefit immediately from the regulatory changes, along with Samsung Electronics, which is expanding its presence in the European market [2]

Core Insights - China Mobile has announced the results of its backbone network project for data transmission from 2025 to 2027, with Huawei emerging as the largest winner and ZTE receiving a smaller share [1][3] Group 1: Project Overview - The project involves the procurement of 159 routers, divided into four bidding packages, with the first package selecting two winners while the other packages have one winner each [3] - The total bid amount for the project exceeds 686 million yuan (approximately 6.86 billion yuan) excluding tax [3] Group 2: Bidding Results - In Package 1, Huawei won 70% of the share with a bid of approximately 547 million yuan (excluding tax), while ZTE secured 30% with a bid of about 505 million yuan, resulting in a bid difference of over 42 million yuan [3] - Huawei also won Packages 2, 3, and 4 with bids of approximately 118.56 million yuan, 10.55 million yuan, and 31 million yuan respectively, with Package 4 being procured directly [3] - Overall, Huawei's total winning bid amount exceeds 540 million yuan, making it the largest winner in the project, while ZTE's winning amount is around 150 million yuan [3]