Investment Rating - The industry investment rating is "Maintain Buy" [7] Core Views - The integration of WeChat with DeepSeek is expected to accelerate the penetration of AI applications, enhancing user experience with diverse search capabilities [2][14] - Alibaba plans to invest more in cloud and AI infrastructure over the next three years than in the past decade combined, indicating strong growth potential in the sector [15][28] - Ericsson, Telstra, and MediaTek achieved significant breakthroughs in 5G technology, setting new benchmarks for downlink speeds, which enhances user experience in high-capacity connections [3][29] Market Review - The A-share Shenwan Communication Index rose by 8.09% from February 17 to February 21, outperforming the CSI 300 Index by 7.09 percentage points [4][18] - Within the Shenwan Communication sub-sectors, Communication Services increased by 9.1%, while Communication Equipment rose by 7.51% [20][22] - The top-performing sub-sectors included Communication Value-Added Services, which increased by 12.24% [23] Investment Recommendations - The report recommends focusing on sectors such as optical modules, operators, and communication equipment, with specific companies highlighted for potential investment [5][17] - Suggested companies in the optical module sector include Zhongji Xuchuang, Tianfu Communication, and Xinyi Sheng [5] - Recommended operators include China Mobile, China Telecom, and China Unicom [5] Industry News - Tencent's WeChat has integrated DeepSeek, enhancing AI search capabilities and allowing users to access diverse information sources [28] - Alibaba's recent financial report shows a revenue of 280.154 billion yuan for Q3 FY2025, with a net profit increase of 333% year-on-year, highlighting strong growth in cloud services [15][28] - Ericsson and Telstra's collaboration has achieved a peak downlink speed of 9.4 Gbps in their 5G network, improving overall connectivity and user experience [29] Company Dynamics - China Mobile announced multiple procurement results for 5G equipment, indicating ongoing investment in infrastructure [30] - Ning Shui Group has successfully deployed DeepSeek's localized system for AI applications, showcasing advancements in smart customer service [30] Company Announcements - Shenzhen Guanghe Communication announced stock option plans, while Beijing Dongtu Technology released a stock option incentive plan, indicating active corporate governance and employee engagement strategies [33]
通信行业周报：微信接入DeepSeek，阿里云和AI基础设施投入大幅增长
甬兴证券·2025-02-25 00:55