移动+卫星网络并进，低空基建持续加码

Investment Rating - The report maintains a "Buy" rating for the telecommunications industry [1] Core Insights - The integration of mobile networks and satellite communications is enhancing coverage strength, while infrastructure development in the low-altitude economy continues to increase [3] - There is a clear demand for low-altitude communication, with an anticipated rise in the demand for 5G-A integrated sensing base stations [3] - The combination of 5G-A and satellite communication solutions is expected to improve navigation and positioning accuracy in low-altitude airspace [3] - Investment recommendations are provided, emphasizing the potential growth in the sector [3]