Core Insights - Keysight Technologies is set to showcase advancements in connected intelligence at Mobile World Congress 2026, focusing on agentic AI and high-fidelity emulation to enhance network performance and reduce deployment risks [1][2]. Group 1: 6G and AI Innovations - Keysight will demonstrate its readiness for 5G-Advanced and early 6G through high-precision RF digital twins and machine learning-based channel state information compression [2]. - The company will highlight realistic channel emulation and closed-loop testing to support AI-native air-interface development and accelerate progress toward 6G [2][3]. Group 2: AI and RAN Validation - Keysight will validate AI and machine learning across various networks and devices, showcasing use cases such as autonomous wireless testing and AI-driven security [4]. - The company will present a streamlined workflow for validating AI-driven RAN modules, including testing, data collection, and AI/ML training [5]. Group 3: Next-Gen Space and NTN Validation - Keysight will feature end-to-end NR-NTN device and modem validation, aiming to reduce deployment risks and ensure performance aligns with commercial NTN service requirements [7]. - The demonstrations will include NTN quality of service evaluation and multi-orbit handover, enabling operationally relevant validation of next-generation satellites and NTNs [8]. Group 4: Company Overview - Keysight Technologies is an S&P 500 company that provides market-leading design, emulation, and test solutions across various industries, including communications and aerospace [9].

Core Viewpoint - The PCB (Printed Circuit Board) sector in the A-share market has become a focal point, with significant price increases across the entire industry chain, indicating strong capital inflow and investor interest. Group 1: Company Highlights - **Mingyang Circuit (300739.SZ)**: Latest stock price is 29.30 CNY, with a daily increase of +17.06%. The company focuses on small-batch PCB research and production, covering HDI boards, thick copper boards, and high-frequency boards, widely used in various sectors including industrial control and AI [1]. - **Dingtai High-Tech (301377.SZ)**: Latest stock price is 212.50 CNY, with a daily increase of +11.75%. It is a global leader in PCB drilling needles, providing specialized consumables for PCB processing and serving major clients like Shenzhen South Circuit [2]. - **Zhongfu Circuit (300814.SZ)**: Latest stock price is 91.00 CNY, with a daily increase of +11.42%. The company offers high-reliability, customized PCB products, focusing on communication and automotive electronics [3]. - **Jiuri New Materials (688199.SH)**: Latest stock price is 30.85 CNY, with a daily increase of +11.37%. It is the largest domestic supplier of photoinitiators, essential for PCB ink, aiding in the PCB photolithography process [4]. - **Delong Laser (688170.SH)**: Latest stock price is 50.80 CNY, with a daily increase of +9.58%. The company provides laser precision micro-processing equipment for PCB and FPC applications [5]. Group 2: Additional Company Insights - **Nord Shares (600110.SH)**: Latest stock price is 8.17 CNY, with a daily increase of +9.96%. The company specializes in the research, production, and sales of electrolytic copper foil, crucial for the PCB industry [6]. - **Zhongtung High-Tech (000657.SZ)**: Latest stock price is 58.83 CNY, with a daily increase of +10.00%. Its subsidiary is a leader in PCB micro-drilling, with advanced technology and leading production capacity [8]. - **Dongcai Technology (601208.SH)**: Latest stock price is 31.74 CNY, with a daily increase of +10.02%. The company focuses on electronic-grade resin materials, essential for high-frequency PCBs, supplying major clients like NVIDIA and Huawei [9]. - **Shenghong Technology (300476.SZ)**: Latest stock price is 292.58 CNY, with a daily increase of +9.31%. It is among the top PCB manufacturers in China, specializing in high-precision multi-layer and HDI boards [10]. - **Changhai Shares (300196.SZ)**: Latest stock price is 22.10 CNY, with a daily increase of +9.03%. The company produces PCB electronic felt, a key material for CEM-3 copper-clad laminates [11]. - **Hongchang Electronics (603002.SH)**: Latest stock price is 11.54 CNY, with a daily increase of +8.97%. It is a leading company in electronic-grade epoxy resin, providing essential materials for PCB production [12]. - **Copper Crown Copper Foil (301217.SZ)**: Latest stock price is 48.82 CNY, with a daily increase of +8.61%. The company is a leader in high-performance electronic copper foil, with significant production capacity [13]. - **Sanfu New Technology (688359.SH)**: Latest stock price is 84.30 CNY, with a daily increase of +8.02%. The company focuses on PCB surface treatment technologies, serving major PCB manufacturers [14]. - **Dazhu Laser (002008.SZ)**: Latest stock price is 63.38 CNY, with a daily increase of +7.73%. The company provides comprehensive solutions for PCB manufacturing equipment [15].

来源| 新华社 我国科学家近日在光通信和6G领域取得突破性进展，在国际上率先实现光纤通信和无线通信系统间的跨网络融合，自主研发的"光纤—无线一 体化融合通信系统"的数据传输速率刷新纪录。该成果19日凌晨在线发表于《自然》。 AI数据中心算力提升和下一代无线通信网络6G的蓬勃发展，要求在多样化场景满足信号的高速、低时延传输。然而，光纤通信与无线通信在 信号架构与硬件约束上存在"带宽鸿沟"。 "新系统破解'带宽鸿沟'，数据传输速率刷新目前已知的新纪录。"论文通讯作者、北京大学电子学院副院长王兴军说，这一系统可支持光纤通 信和无线通信双模式传输，显著提升了抗干扰能力。团队还模拟了6G大规模用户接入场景，实现86个信道的多路实时8K视频接入演示，传输 带宽较目前5G标准提升10倍以上。 《自然》审稿人认为，这项工作"对融合光学和太赫兹通信系统的进步作出重要贡献"。 王兴军表示，新系统在6G基站、无线数据中心等场景中极具应用潜力，有望为下一代超宽带高速光纤—无线一体化融合通信奠定研究基础。 来源| 新华社 我国科学家近日在光通信和6G领域取得突破性进展，在国际上率先实现光纤通信和无线通信系统间的跨网络融合，自主研发的" ...

2月25日，金融界财经早餐，宏观政策、资本市场、行业板块、公司个股资讯一览： 一、今日财经资讯 1、国务院总理李强2月24日主持召开国务院常务会议。会议指出，今年是"十五五"开局之年，国务院各部 门要进一步增强责任感紧迫感，瞄准全年目标任务，迅速进入工作状态，推动党中央各项决策部署落地见 效。会议研究推进银发经济和养老服务发展有关工作。会议指出，我国银发经济潜力很大，要完善支持举 措、强化政策落实，促进养老事业和养老产业发展，为应对人口老龄化提供有力支撑。要进一步释放银发 消费需求，提升消费能力，发挥消费补贴等政策牵引作用，打造一批银发消费新场景新业态。 2、中国人民银行2月24日发布中期借贷便利招标公告称，为保持银行体系流动性充裕，2月25日，将以固 定数量、利率招标、多重价位中标方式开展6000亿元MLF操作，期限为1年期。鉴于本月有3000亿元MLF 到期，央行2月通过MLF净投放3000亿元。这是央行连续12个月加量操作MLF。 3、2月24日，海关总署批复同意雄安综合保税区（二期）通过验收，标志着规划面积0.63平方公里的雄安 综合保税区正式实现"全域封关、整体运营"，助力雄安新区开放型经济发展。 ...

中央网信办主任、国家网信办主任庄荣文在学习时报头版撰文指出，坚持赋能增效，体系化深层次推进 信息化发展。 加强统筹、把握重点、主动作为，健全推进信息化发展的政策体系和制度机制，整体推进数字化、网络 化、智能化协同发展。 着力推动网络信息技术创新突破，全链条推动集成电路、基础软件等重点领域关键核心技术取得决定性 突破，加快人工智能、区块链等数智技术创新，积极实施"人工智能+"行动。 着力推动网信产业生态发展，推动量子科技、具身智能、脑机接口、6G等成为新的经济增长点，加快 发展人工智能、操作系统、数据库等生态，深入推进数字化绿色化协同转型发展，促进网信企业高质量 发展。 着力推动信息基础设施优化升级，推进区块链赋能航（货）运贸易数字化等应用场景，深化IPv6技术创 新和融合应用，深化数据资源开发利用，推进数据高效便利安全跨境流动。 着力推动网信为民，提升电子政务服务效能，规范政务移动互联网应用程序管理，运用数智技术赋能民 生服务，扎实推进数字乡村强农惠农富农，提升全民数智素养，提高人民群众数字化生活品质。 以下为原文： 锚定网络强国战略目标推进"十五五"网信事业实现良好开局 中央宣传部副部长，中央网信办主任、国 ...

中央宣传部副部长，中央网信办主任、国家网信办主任庄荣文在《学习时报》头版撰文指出，坚持赋能 增效，体系化深层次推进信息化发展。加强统筹、把握重点、主动作为，健全推进信息化发展的政策体 系和制度机制，整体推进数字化、网络化、智能化协同发展。着力推动网络信息技术创新突破，全链条 推动集成电路、基础软件等重点领域关键核心技术取得决定性突破，加快人工智能、区块链等数智技术 创新，积极实施"人工智能+"行动。着力推动网信产业生态发展，推动量子科技、具身智能、脑机接 口、6G等成为新的经济增长点，加快发展人工智能、操作系统、数据库等生态，深入推进数字化绿色 化协同转型发展，促进网信企业高质量发展。着力推动信息基础设施优化升级，推进区块链赋能航 （货）运贸易数字化等应用场景，深化IPv6技术创新和融合应用，深化数据资源开发利用，推进数据高 效便利安全跨境流动。着力推动网信为民，提升电子政务服务效能，规范政务移动互联网应用程序管 理，运用数智技术赋能民生服务，扎实推进数字乡村强农惠农富农，提升全民数智素养，提高人民群众 数字化生活品质。 （文章来源：第一财经） ...

6G正逐步从愿景蓝图走向产业实景。近期,工信部正式宣布，我国已顺利完成6G第一阶段技术试验，累 计形成超300项关键技术储备，并全面启动第二阶段试验工作。这标志着我国6G研发从单点技术验证， 正式转向系统方案集成与原型验证的关键阶段，为2030年商用夯实基础。 ● 本报记者 杨洁 面向2030年商用目标，第六代移动通信技术（6G）研发已进入全面冲刺阶段。多位业界专家告诉记 者，作为5G之后的新一代移动通信技术，6G并非简单的代际迭代，而是通信范式的根本性变革，承载 着培育万亿元级产业集群、推动社会数智化深度转型的重要使命。 当前6G产业发展仍面临诸多瓶颈挑战。闫丽娟指出，上游元器件等环节需在集成度、生产成本、工艺 及能耗控制等方面实现突破攻关，仪器仪表、仿真软件等领域也需提升成熟度，培育完善的产业生态。 智能内生 与5G相比，6G的优势并非单一维度的速率提升，而是全方面迭代。业界有个形象的比喻，过去30年， 通信干的活本质上是"快递员"：2G送文字，3G送图片，4G送视频，5G送高清视频和物联网数据，但6G 要干的事，相当于把"快递小哥"直接升级成"管家+秘书+智囊团"。 "6G将向更强性能、更高智能、更广覆 ...

A07 公司纵横 ...

Core Insights - Broadcom (AVGO) is launching BroadPeak, a radio digital front-end (DFE) SoC device, enhancing its Semiconductor Solutions segment and targeting next-generation 5G Advanced and 6G wireless infrastructure [1][9] - BroadPeak is the first solution to meet the technical requirements for the upcoming 5G Advanced standard and the 6G standard, featuring a power reduction of up to 40% compared to existing solutions [1][9] Semiconductor Solutions Expansion - The introduction of BroadPeak, along with the BCM4918 accelerated processing unit (APU) and two new dual-band Wi-Fi 8 devices, strengthens Broadcom's Wireless Device Connectivity solutions business [2] - The semiconductor segment is benefiting from strong demand for XPUs, which are essential for training Generative AI models [2] Revenue Expectations - Broadcom anticipates first-quarter fiscal 2026 AI revenues to double year-over-year to $8.2 billion, with semiconductor revenues expected to reach $12.3 billion, indicating a 50% year-over-year growth [3] - The Zacks Consensus Estimate for semiconductor revenues is currently at $12.09 billion, reflecting a 47.3% year-over-year growth [3] Competitive Landscape - Broadcom faces significant competition in the semiconductor market from NVIDIA and Skyworks [4] - NVIDIA is experiencing strong growth in AI and high-performance computing, with data center revenues increasing by 66% year-over-year [5] - Skyworks is targeting high-growth areas such as connected vehicles and data center networking, with improving demand signals across its customer base [6] Stock Performance and Valuation - Broadcom's shares have appreciated by 63.1% over the past year, outperforming the broader Zacks Computer and Technology sector, which returned 26.8% [7][8] - The Zacks Consensus Estimate for fiscal 2026 earnings is $10.25 per share, suggesting a growth of 50.3% from fiscal 2025 [12] - Broadcom's stock is trading at a forward price/earnings ratio of 28.77X, higher than the sector average of 25.5X, indicating a stretched valuation [14]

In our largest tower market, the U.S., carriers are in the middle stages of the 5G cycle, where they broadly completed their initial 5G coverage-oriented activity and are shifting toward capacity-oriented activity. We anticipate carriers will densify their networks not only to meet the capacity demands of 5G, but also to plan ahead for the 6G cycle. We are excited about the 800 megahertz of higher frequency spectrum that has been earmarked for 6G and believe its deployment will drive significant activity on ...