通信行业周报：千帆组网星顺利发射，数据中心间连接需求高增

Investment Rating - The report gives a "Recommended" rating for the telecommunications and electronics industry, considering the sustained high prosperity of the telecommunications sector driven by AI, 5.5G, and satellite communications [2][3]. Core Insights - The telecommunications sector experienced a market correction, with the overall index down by 3.73% during the week of August 5-9, 2024. The Shanghai Composite Index fell by 1.48%, the Shenzhen Component Index by 1.87%, and the ChiNext Index by 2.60% [2][8]. - Despite the correction, the report highlights the ongoing high demand for data center interconnections, particularly due to the rapid development of generative AI, which requires a tenfold increase in fiber connections within data centers [2][3]. - A significant agreement was reached between Lumen Technologies and Corning for the supply of next-generation fiber optic cables, which will double Lumen's intercity fiber mileage in the U.S. and support the growing AI workload and high-bandwidth applications [2][3]. Market Overview - The telecommunications sector's sub-industry performance showed varied results, with other communication equipment experiencing the least decline at 0.59%, while communication cables and accessories saw the highest drop at 5.31% [9][10]. - Notable stock performances included Xintian Technology with a remarkable increase of 78.29%, followed by Zhongtong Guomai at 21.6% and Huiyuan Communication at 10.56% [11]. Key Developments - The "Qianfan Constellation" plan aims to launch 15,000 satellites for a comprehensive communication network, with the first batch of satellites successfully launched on August 5, 2024. This initiative is expected to enhance domestic communication services significantly [12]. - The Ministry of Industry and Information Technology (MIIT) announced plans to expand telecommunications business openness and reform the satellite internet business access system, aiming to create a more efficient and unified market entry environment [13]. - The State-owned Assets Supervision and Administration Commission (SASAC) emphasized the importance of central enterprises leading the use of innovative products in key technology sectors, including satellite navigation and chips [15]. Recommended Focus Areas - The report suggests focusing on the computing power supply chain and satellite internet sectors, with recommended stocks including Zhongji Xuchuang, Xinyi Sheng, and China Telecom among others [3].