通信行业周报：英伟达25FYQ1业绩超预期，低轨卫星获出海机遇

Investment Rating - The report assigns a "Recommended" rating to the telecommunications and electronics industry, anticipating continued high prosperity and performance from related companies [3]. Core Insights - The overall market experienced a decline, with the Shanghai Composite Index down 2.07% and the ShenZhen Component Index down 2.93% during the week of May 20-24, 2024. The telecommunications sector specifically saw a 3.85% decline [3]. - Despite the market pullback, the telecommunications industry is expected to maintain high growth, with companies' operational performance likely to meet expectations [3]. - Notable stock performances included Yihua Co., which rose by 24.63%, followed by ST Zhongjia at 15.00% and Alade at 14.53% [3]. Summary by Sections Market Overview - The telecommunications industry index declined by 2.89% during the week of May 20-24, 2024, while the overall market indices also experienced declines [11]. - Among the sub-sectors, the telecommunications network equipment and devices had the lowest decline at 3.18%, while other telecommunications equipment saw the highest decline at 4.03% [13][14]. Company News - Significant advancements were reported in the field of hollow-core fiber transmission systems, achieving a new record for single-direction real-time transmission capacity over a distance of 20 km at 100.4 Tbit/s [17]. - As of the end of April, the total number of 5G base stations reached 3.748 million, marking a net increase of 372,000 from the end of the previous year [18]. - The low-orbit satellite internet has seen its first overseas application in Thailand, marking a significant milestone for China's low-orbit broadband satellite internet [21]. Key Announcements - The report highlights several key announcements from telecommunications companies, including dividend distributions and stock performance updates [25].