CHINA MOBILE(SH:600941) HTSC·2025-10-13 08:20Investment Rating - The report maintains a "Buy" rating for major companies in the telecommunications sector, including China Mobile, China Telecom, ZTE, and others [9][10][47]. Core Insights - The China Mobile Global Partner Conference highlighted advancements in AI and quantum communication, with a focus on enhancing computational power and capabilities [2][14]. - China Mobile plans to double its AI investment by the end of 2028 and is exploring the establishment of a large-scale intelligent computing cluster [1][14]. - The report emphasizes the importance of domestic computational power and its supporting industrial chain as a key investment opportunity [1][13]. Summary by Sections Market Overview - The telecommunications index fell by 1.60% last week, while the Shanghai Composite Index rose by 0.37% [1][13]. - The conference showcased significant achievements in AI, satellite internet, and quantum technology, indicating a shift towards high-quality development in the industry [2][14]. Key Companies and Dynamics - Recommended companies include ZTE, China Mobile, China Telecom, and others, focusing on AI computational power and core asset value reassessment [3][10]. - China Mobile's "AI+" action plan aims to enhance AI infrastructure and support data-intensive applications [14][19]. Investment Recommendations - Specific stock recommendations include: - China Telecom (Target Price: 9.11) [10][47] - ZTE (Target Price: 62.76) [10][47] - China Mobile (Target Price: 126.30) [10][47] - Others include Huace Navigation, Hengtong Optic-Electric, and Ruijie Networks, all rated as "Buy" [10][47]. Emerging Technologies - The report highlights advancements in quantum communication and the establishment of a quantum ecological alliance, aiming for practical integration with existing communication networks [19][21]. - The low-altitude economy is also emphasized, with over 500 projects implemented nationwide, showcasing the integration of 5G-A and AI technologies [21][19].