通信设备及服务2024年第42周周报：数据要素政策密集发布，关注三季报指引

Investment Rating - The report assigns an "Overweight" rating to the communication equipment and services industry, consistent with the previous rating [3]. Core Insights - The report highlights the intensive release of data element policies and the rapid advancement of the industry. It emphasizes the importance of the upcoming Q3 reports as indicators for annual profitability across various sectors and companies [5][7]. - It anticipates continued strong growth in the overseas computing supply chain sector, stable growth in the domestic telecommunications market, and signs of industrial realization in the domestic computing supply chain [5][7]. - The report suggests focusing on investment opportunities in the optical interconnection sector, state-owned enterprises with high dividends, and emerging themes in low-altitude economy, satellite communication, and vehicle-mounted communication [5][7]. Summary by Sections 1. Weekly Investment Viewpoint - The report discusses the release of the "National Data Standard System Construction Guide" by multiple government departments, aiming to establish a national data standard system by the end of 2026 [5][7]. - It mentions the central government's first systematic deployment of public data resource development and utilization, with significant improvements expected by 2025 [5][7]. 2. Weekly Market Review 2.1. Communication Sector Performance - The communication sector outperformed the broader market, with the Shanghai Composite Index declining by 3.25%, while the communication sector fell by only 1.99% [8]. - The communication equipment and service sub-sectors showed a decline of 0.93% and 4.21%, respectively [8]. 2.2. Individual Stock Performance - The top-performing stocks included Cheng Tian Wei Ye (+27.64%) and Hai Neng Da (+25.04%), while the worst performers were Lang Wei Co. (-16.46%) and Hua Xing Chuang Ye (-16.02%) [12]. 3. Upcoming Announcements - The report lists several companies with upcoming announcements, including shareholder meetings and performance releases scheduled for the week of October 14-20 [14]. 4. Lock-up Expiration Reminders - The report provides details on upcoming lock-up expirations for various companies, including Tongyu Communication and Guanghe Tong, with specific numbers of shares and expiration dates [15]. 5. Major Company Earnings Forecasts and Valuations - The report includes earnings forecasts and valuations for key companies in the sector, with several companies rated as "Overweight" based on their projected performance [16].