通信行业行业周报：眺望6G标准前沿，驱动未来智能互联时代

Investment Rating - The report suggests a positive investment outlook for the communication industry, particularly focusing on sub-sectors with improving marginal conditions and quality stocks [4]. Core Insights - The communication sector index experienced a decline of 2.12% over the past week, while sub-sectors such as smart controllers and operators performed well, with increases of 7.62% and 5.67% respectively [2][25]. - The transition from 5G to 6G is highlighted as a key area of focus, with significant growth expected in terminal connections and monthly data traffic by 2040, projected to exceed 30 times and 130 times the levels of 2022 respectively [3][57]. - Major developments include the launch of China's largest intelligent computing center by China Mobile, with an investment exceeding 20 billion yuan, and the introduction of significant stock incentive plans by China Unicom [3][26]. Summary by Sections Market Performance - The communication sector index fell by 2.12% during the week, with the overall market indices also declining: Shanghai Composite Index down 3.52%, Shenzhen Component Index down 3.70%, and ChiNext Index down 3.36% [2][25]. - Among individual stocks, 18.32% increased, 2.29% remained stable, and 79.39% decreased [47]. Industry Development - The 2024 Global 6G Development Conference discussed future applications, key technologies, and international standardization for 6G, aiming for a consensus on 6G innovations [3][49]. - The report emphasizes the integration of AI in the development of ultra-broadband networks, with Huawei leading initiatives to enhance network capabilities [27][74]. Key Company Announcements - China Mobile's intelligent computing center in Nanjing is now operational, with a total investment of over 20 billion yuan and a computing capacity of 4 EFLOPS [3][26]. - China Unicom's stock incentive plan is set to unlock 31.45 million shares, impacting 7,629 employees, with performance-based conditions [26]. - China Telecom's TeleChat2 model ranks in the top tier of a major evaluation, showcasing its capabilities in the AI model landscape [3][26]. Investment Recommendations - The report recommends focusing on high-quality stocks in sectors benefiting from digital economy infrastructure, such as Tianfu Communication, Zhongji Xuchuang, and Xinyi Technology [4]. - It highlights the potential of communication operators like China Mobile, China Telecom, and China Unicom in the context of computing network infrastructure and new data elements [4].