通信行业周报：Wi-Fi MCU如何受益AI玩具？

Investment Rating - The report maintains a "Recommend" rating for the communication industry [11]. Core Views - AI remains a key investment theme, with AI toys gradually being implemented, and Wi-Fi MCUs expected to benefit from this trend. Looking ahead to 2025, the report is optimistic about three main investment directions: AI computing power, AI applications, and communication semiconductors, with operators and equipment manufacturers still holding good investment value [11][12][26]. Summary by Sections Key Companies and Ratings - Zhongji Xuchuang: Increase [2] - Tianfu Communication: Increase [3] - Xinyi Sheng: Increase [4] - Zhongci Electronics: Increase [5] - Dingtong Technology: Increase [6] - ZTE Corporation: Increase [7] - Yilian Network: Increase [8] - Yingweike: Increase [9] - Yihua Co., Ltd.: Increase [10] Industry Dynamics - The report highlights that 12 ministries jointly issued the "5G Scale Application 'Sailing' Action Upgrade Plan," aiming for over 85% penetration of 5G personal users by the end of 2027 [31]. - SEMI reported that the global semiconductor equipment shipment totaled $53.2 billion in the first half of 2024, with China accounting for about 47% [31]. - The FCC approved Starlink to provide satellite direct mobile services, enhancing connectivity in cellular signal blind spots [31]. Investment Recommendations - The report recommends focusing on companies such as Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, China Mobile, and Dingtong Technology as key investment opportunities [14][29].