通信行业周报：英特尔任命新CEO，中国云终端市场出货量增长

Investment Rating - The industry investment rating is maintained as "Add" [7] Core Views - Intel appointed Lip-Bu Tan as the new CEO, effective March 18, 2025, who has over 20 years of experience in the semiconductor and software sectors [1][13] - The Chinese cloud terminal market is projected to ship 4.217 million units in 2024, representing a year-on-year growth of 40% [2][14] - The first national standard for direct communication in the automotive industry has been officially released and implemented in China [3][15] Market Review - The A-share Shenwan Communication Index rose by 0.6% from March 10 to March 14, 2025, underperforming the CSI 300 Index by 0.98 percentage points [4][17] - Within the Shenwan secondary sectors, communication equipment increased by 1.67%, while communication services decreased by 1.11% [4][18] - The top-performing sectors included communication cables and supporting equipment, which rose by 5.29% [22] Investment Recommendations - The report recommends focusing on sectors such as optical modules, operators, and communication equipment [5][16] - Specific companies to watch include Zhongji Xuchuang, Tianfu Communication, and Xinyisheng in the optical module sector, as well as China Mobile, China Telecom, and China Unicom in the operator sector [5][16]