Xin Lang Cai Jing·2025-08-01 03:47Group 1: Communication ETF Performance - The Communication ETF has a turnover rate of 5.42% and a transaction volume of 5.9067 million yuan during the trading session [3] - Over the past month, the Communication ETF's scale increased by 3.2637 million yuan, ranking first among comparable funds [3] - As of July 31, the net value of the Communication ETF has risen by 45.63% over the past year, placing it in the top 15.56% of index equity funds [3] Group 2: Industry Outlook - The telecommunications industry in China has shown stable operation in the first half of the year, with growth in telecom business volume and orderly progress in new infrastructure construction [3] - The user base for 5G, gigabit, and IoT continues to expand, with mobile internet access traffic maintaining rapid growth [3] - By 2025, the telecommunications sector is expected to experience a period of technological iteration and policy dividends, with new growth drivers emerging from AI, quantum communication, and low-altitude economy [3] Group 3: North American vs. Domestic Computing Power Chains - North American computing power chains, represented by "Yizhongtian," have significantly outperformed domestic counterparts like SMIC and Cambrian [4] - The divergence is primarily driven by performance, with North American cloud vendors reaffirming increased AI capital expenditures and clearer overseas optical module demand guidance for next year [4] - Since Q2, the performance of North American computing power chains has seen substantial upward revisions [4] Group 4: Major Stocks in the Communication Index - As of July 31, the top ten weighted stocks in the National Communication Index include Zhongji Xuchuang, Xinyi Sheng, China Telecom, ZTE, China Mobile, China Unicom, Zhongtian Technology, Transsion Holdings, Tianfu Communication, and Wentai Technology, collectively accounting for 61.8% of the index [4] - The performance of these stocks varies, with Zhongji Xuchuang down by 2.05% and Transsion Holdings up by 2.82% [6]