East Money Securities·2025-03-12 07:46Investment Rating - The report maintains a rating of "Outperform the Market" for the communication industry [6] Core Insights - The communication industry has shown strong performance, with the Shenyin Wanguo Communication Index rising by 2.8% over the past week, outperforming the broader market [2] - The report highlights the government's focus on 5G, AI, data and computing, and low-altitude economy as key development areas for 2025, suggesting a favorable environment for investment in these sectors [3][14] - The report emphasizes the acceleration of AI technology commercialization and recommends focusing on hardware opportunities in the application side, including AI chips, communication modules, robotics, and intelligent driving [3][38] Summary by Sections Market Review - The communication sector has outperformed the market, with a 2.8% increase in the Shenyin Wanguo Communication Index [2] - The overall valuation of the communication sector is at a historically high level, with a dynamic PE ratio of approximately 22, above the past two-year average of 19-20 [2][30] - Specific segments such as industrial internet, power communication, and 5G have seen significant weekly gains of 16.1%, 11.7%, and 8.0% respectively [2][34] - A total of 113 stocks in the sector rose, with notable performers including Yitong Technology and Lierda, which increased by 42.3% and 33.7% respectively [2][35] Configuration Suggestions - The report suggests focusing on hardware opportunities in the application side, particularly in AI chips (e.g., Rockchip, Espressif), communication modules (e.g., Quectel, Gree), robotics (e.g., Topband, Heertai), and intelligent driving (e.g., Zhucheng Technology) [3][38]