通信行业：5G产业深化，投资机会不断

Investment Rating - The industry rating is "Overweight" (maintained) [1] Core Viewpoints - The report highlights the continuous investment opportunities in the 5G industry as it deepens its integration into various sectors [1] - By the end of 2027, the goal is to achieve a 5G penetration rate exceeding 85%, with significant application penetration in large and medium-sized industrial enterprises [1] - The report emphasizes the importance of 5G in driving new consumption and innovation across various sectors, including smart devices and AI integration [1] Summary by Sections Industry Performance - The report outlines that by the end of 2027, the target is for 5G personal user network access traffic to exceed 75%, with over 100 million IoT terminal connections and more than 150 standardized 5G applications [1] - It also mentions the establishment of 70,000 5G industry virtual private networks and the construction of edge computing nodes [1] Investment Opportunities - The report suggests focusing on companies like Suobede and Feiling Kesi, which are expected to benefit from the ongoing development and upgrades in the 5G industry [1] - It encourages the development of new business models and products that leverage 5G technology, particularly in sectors such as automotive and smart home devices [1] Future Developments - The report indicates that the 5G network will evolve towards 5G-A, with a focus on enhancing coverage in rural and remote areas, utilizing satellite communication technology [1] - It also highlights the need for continuous innovation in 5G applications, particularly in AI and cloud computing, to meet the demands of various industries [1]