通信行业周报：政府工作报告推动未来产业发展，阿里最新开源推理模型性能比肩DeepSeek-R1

Investment Rating - The industry investment rating is "Add" [8] Core Insights - The government work report emphasizes the promotion of low-altitude economy, quantum technology, embodied intelligence, and 6G industry development, aiming for a safe and healthy growth of emerging industries [2][14][30] - Alibaba has released the QwQ-32B open-source inference model, which boasts performance comparable to DeepSeek-R1 while significantly reducing deployment costs, making it feasible for local deployment on consumer-grade graphics cards [3][15] - DeepSeek has disclosed key insights about its V3/R1 inference system, revealing a theoretical daily revenue of $562,027 with a cost-profit margin of 545% based on GPU rental costs [4][16][31] Market Review - During the week of March 3-7, the A-share Shenwan Communication Index rose by 2.81%, outperforming the CSI 300 Index by 1.42 percentage points but underperforming the ChiNext Index by 0.43 percentage points [5][18] - The two major sub-sectors of the Shenwan Communication Index saw the following performance: Communication Services increased by 5.15%, while Communication Equipment rose by 1.4% [21][24] Investment Recommendations - The report recommends focusing on the following sectors: - Optical modules: Suggested companies include Zhongji Xuchuang, Tianfu Communication, and Xinyi Sheng [6][17] - Operators: Suggested companies include China Mobile, China Telecom, and China Unicom [6][17] - Communication equipment: Suggested companies include ZTE Corporation and Unisplendour [6][17] Company Dynamics - ZTE Corporation released the "Self-Intelligent Network White Paper (2025)" at MWC 2025, discussing the transformation of communication networks in the intelligent era [32] - China Unicom showcased its cloud storage product, Unicom Cloud Disk, at MWC 2025, which integrates AI capabilities for efficient digital asset management [32]