智通财经网·2025-06-16 06:01Group 1 - The market shows significant divergence regarding the telecommunications industry, with optimism for the computing power sector until 2026, but concerns over AI applications and capital expenditure slowing down [1] - The report suggests that while short-term divergences may persist, there is no evidence to support that concerns will materialize, indicating a need for selective investment in the computing power sector [1] - Telecommunications operators are considered stable and high-quality dividend assets, with a recommendation to focus on H-shares over A-shares due to better dividend yields and valuations [1] Group 2 - The computing power infrastructure sector remains strong, with a positive long-term outlook despite the absence of blockbuster applications, suggesting a focus on high-quality North American companies [2] - Specific companies in the optical module and CPO segments are recommended for investment, including names like NewEase, Zhongji Xuchuang, and Tianfu Communication [2] - Attention is drawn to the military communication, controller, IoT, and submarine cable sectors, which are expected to see marginal changes and growth opportunities due to evolving international dynamics and military needs [3] Group 3 - The military demand is expected to remain rigid as China aims to achieve its military goals by 2027, with potential recovery in military-related industries [3] - Companies involved in smart controllers and IoT modules are actively entering new markets, which may lead to new growth opportunities [3] - The offshore wind power sector is anticipated to recover, with improvements in deep-sea technology providing new development opportunities for submarine cables and marine communication systems [3]