通信行业周报：市场反弹，通信板块如何配置？

Investment Rating - The report maintains an "Overweight" rating for the communication industry [2] Core Insights - The communication industry index has remained stable, with significant policy support leading to a bullish trend in the A-share market. The Shanghai Composite Index increased by 21.37%, while the communication sector saw a rise of 25.05% from September 24 to September 30, 2024 [5][10] - The report highlights a sustained high demand for AI computing power, with leading companies in the sector expected to benefit from this trend. The demand for optical modules in telecommunications is showing signs of recovery, with a projected stabilization in demand in the second half of 2024 [5][7] - The report emphasizes the recovery of the optical and submarine cable sectors, with significant projects approved that are expected to drive demand in the coming years. The report suggests focusing on companies like Hengtong Optic-Electric and Zhongtian Technology [7][10] Summary by Sections Key Company Status - The report provides a detailed overview of key companies in the communication sector, including their stock prices, earnings per share (EPS) forecasts, and price-to-earnings (PE) ratios. For instance, Zhongji Xuchuang has a stock price of 154.86 CNY with an EPS forecast of 6.41 CNY for 2024 [3][10] Market Trends - The report notes that the total market capitalization of the communication industry is approximately 4.45 trillion CNY, with a circulating market value of about 1.52 trillion CNY. There are 122 listed companies in this sector [3][10] Policy and Economic Environment - Recent government policies aimed at supporting economic growth have positively impacted the communication sector, leading to increased investor confidence and market performance [5][10] Stock Selection Strategy - The report suggests a stock selection strategy focusing on leading companies in AI computing and optical modules, recommending stocks such as Zhongji Xuchuang, Tianfu Communication, and Yuanjie Technology for potential investment [5][7][10]