Investment Rating - The report gives a "Recommended" rating for the telecommunications industry, considering the sustained high prosperity of the sector driven by AI, 5.5G, and satellite communications [2][6]. Core Insights - The overall market performance for the week (October 27 to November 2, 2025) saw the Shanghai Composite Index rise by 0.11%, the Shenzhen Component Index by 0.67%, and the ChiNext Index by 0.50%. However, the telecommunications sector experienced a decline of 3.59% [2][12]. - Among the sub-sectors, communication terminals and accessories had the highest increase at 3.26%, while communication network equipment and devices faced the largest decline at 6.40% [2][14]. - Notable individual stock performances included GuoDun Quantum with a rise of 38.42%, followed by LianTe Technology at 20.65%, and ST LuTong at 13.68% [2][16]. Summary by Sections Weekly Market Overview - The telecommunications industry index declined by 3.59% during the week [12]. - The highest gain among sub-sectors was in communication terminals and accessories, which rose by 3.26%, while communication network equipment and devices fell by 6.40% [14][15]. - The overall performance of stocks in the telecommunications sector showed 35.20% increased, 52.00% decreased, and 12.80% remained flat [16]. Q3 Active Equity Fund Holdings - The market value proportion of active equity funds in the telecommunications sector increased to 8.05%, a rise of 2.8 percentage points from the previous quarter [18]. - Key areas of increased investment included optical transmission and other infrastructure related to computing power [22]. Industry News - IoT Analytics reported that the number of active IoT devices globally is expected to reach 21.1 billion by the end of 2025, driven by Wi-Fi, Bluetooth, and cellular technologies [24]. Company Announcements - Key announcements from the telecommunications sector for the week included quarterly reports from various companies, with significant revenue and profit changes noted [26].