通信：运营商规模集采，国产算力产业链景气提升

Investment Rating - The report maintains an investment rating of "Outperform" for the industry, with specific stock recommendations including "Buy" for Unisplendour (000938.SZ) and "Add" for Feiling Technology (301191.SZ) [1]. Core Insights - The report highlights that the domestic computing power industry chain is experiencing an upturn due to large-scale procurement by telecom operators, with China Unicom announcing the procurement of 12,045 data center switches [1]. - The report emphasizes the comprehensive domestic computing power system and the complete industrial chain, noting advancements in high-density, high-performance port designs and the production capabilities of various domestic manufacturers [1][2]. Summary by Sections Industry Performance - The report indicates that the procurement activities by operators are leading to an increase in the domestic computing power chain's prosperity, with significant procurement events from major telecom companies [1]. Key Events - On March 27, 2024, China Unicom announced the procurement of 12,045 data center switches, including 1,067 chassis switches and 10,882 access switches [1]. - Additionally, China Unicom plans to procure 2,503 AI servers and 688 key networking devices [1]. Domestic Supply Chain - The report notes that domestic manufacturers have developed capabilities for high-density, high-performance port designs, with products supporting up to 800G ports currently in trial production [1]. - The report also mentions that companies like Huadian and Unisplendour are making significant advancements in chip technology and server efficiency [1][2]. Investment Recommendations - The report suggests focusing on companies involved in computing power infrastructure, connectivity, supply, cloud services, visualization, and liquid cooling, listing specific companies in each category [2].