通信行业周报：端侧应用进展加速，兼顾基础算力与端侧硬件

Industry Investment Rating - The report maintains a "Recommend" rating for the communication and electronics industry, driven by the high growth momentum in AI, 5.5G, and satellite communication sectors [1][5] Core Views - The communication industry experienced a 1.48% decline in the Shenwan Communication Index during the week of January 6-10, 2025, with the communication terminal and accessories sub-sector showing the smallest decline at 0.22%, while communication engineering and services saw the largest drop at 3.72% [1][12][14] - AI and smart glasses were the highlights of CES 2025, with Chinese companies like Rokid, XREAL, and Weimu Technology leading the innovation in AI glasses [3] - The robotics sector showcased significant advancements, particularly in humanoid robots, with companies like RoboSense and Yukai Engineering presenting their latest products [4] - The smart mobility sector continues to innovate, with major automotive and tech companies demonstrating advancements in autonomous driving, electric vehicles, and smart cockpits [4] - The high-speed optical module market is expected to exceed $9 billion in 2024, with 400G and 800G module shipments surpassing 20 million units, driven by AI deployment and cloud service providers' demand [20][21] Key Highlights by Section Market Performance - The Shanghai Composite Index fell by 1.34%, the Shenzhen Component Index by 1.02%, and the ChiNext Index by 2.02% during the week of January 6-10, 2025 [1][12] - In the communication sector, 35.43% of stocks rose, 55.12% fell, and 9.45% remained flat, with Tai Chen Guang leading the gains at 16.85% [2][16] CES 2025 Highlights - AI glasses from Chinese companies like Rokid and XREAL were standout products, with Rokid Glasses winning multiple CES awards [3] - Humanoid robots from companies like RoboSense and Yukai Engineering were showcased, indicating a rapid advancement in the robotics sector [4] - NVIDIA emphasized its strategic position in the automotive sector, projecting its automotive business to expand to $5 billion by FY2026 [4] Optical Module Market - The 400G and 800G optical module market is booming, with shipments increasing nearly fourfold over the past 12 months, expected to exceed 20 million units in 2024 [20] - In Q3 2024, 400G coherent pluggable device shipments more than doubled, driven by hyperscale operators' demand for data center expansion [21] Satellite Communication - Companies like Haige Communication and China Telecom are recommended for investment in the satellite communication sector [9] Corporate Announcements - Huace Navigation (300627.SZ) announced a 25.8%-30.25% increase in net profit for 2024, reaching 565-585 million yuan [29] - China Mobile (600941.SH) saw 144.145 million shares of strategic placement stocks become tradable on January 6, 2025 [29]