Group 1 - The resilience of Qingdao's consumption market is supported by a solid manufacturing base, transitioning from a "internet celebrity" city to a "long-lasting" city due to continuous industrial upgrades [1] - The industrial cluster represented by the "Five Golden Flowers" has evolved, with the home appliance and electronics industry achieving an annual output value exceeding 400 billion yuan, and the rail transit equipment industry accounting for 50% of the national high-speed train production [1] - Qingdao Beer has transformed into a "sustainable lighthouse factory," utilizing digital transformation for flexible production, allowing consumers to customize beer with unique designs, and ensuring 24-hour cold chain delivery nationwide [1] Group 2 - Emerging industries are injecting new momentum into consumption, with companies like GoerTek and Bird's Eye leading in virtual reality, and AstraZeneca's inhaler base and Haier's health industry park under construction in the biomedicine sector [2] - Qingdao is building a "10+1" industrial system, focusing on new generation information technology and artificial intelligence as leading industries, while also nurturing emerging sectors like life health and smart connected new energy vehicles [2] - Over 80 listed companies are located in Qingdao, with more than 60 domestic listings, making it the top in the province and third among northern cities, with nearly 40% of these companies related to consumption [2]

Investment Rating - The report maintains an "Overweight" rating for the communication industry, expecting the industry index to outperform the market index by more than 10% in the next six months [2][43]. Core Viewpoints - The communication industry is entering a phase of technological iteration and policy benefits, with new growth drivers from AI, quantum communication, and low-altitude economy. The recovery of cellular IoT modules from inventory adjustments and the ongoing construction of communication facilities such as base stations and data centers are expected to create new demands for devices, equipment, and service operations [3][40]. Summary by Sections 1. Industry Market Review - The communication sector index rose by 3.93% from July 25 to August 7, outperforming the CSI 300 index by 4.75 percentage points, ranking 4th among 31 first-level industries. The sector has seen a cumulative increase of 21.63% this year, surpassing the CSI 300 index by 17.06 percentage points [4][11]. 2. Industry News - The report highlights several key developments: 1. The release of the new GPT-5 series model by OpenAI, which will be integrated into various Microsoft platforms [16]. 2. Omdia's forecast that global cellular IoT connections will reach 5.1 billion by 2030, driven by technologies like 5G RedCap [18]. 3. The Ministry of Industry and Information Technology's initiative to develop leading enterprises in the brain-computer interface sector [19]. 4. A strategic cooperation agreement between China Mobile and Tencent [20]. 5. Shanghai's goal to achieve a computing power center scale of over 100 EFLOPS by the end of 2025 [21]. 3. Company Announcements - Key financial results include: 1. China Mobile reported a revenue of 543.8 billion yuan for the first half of 2025, a slight decrease of 0.5% year-on-year [24]. 2. Weisheng Information's net profit increased by 12.2% year-on-year [26]. 3. Shijia Photon reported a significant revenue growth of 121.12% year-on-year [27]. 4. Industry Data Updates - As of June 2025, the mobile phone user base reached approximately 1.81 billion, a year-on-year increase of 2.66% [28]. The internet broadband access user base was about 684 million, up 4.98% year-on-year [29]. The length of optical cable lines reached approximately 73.77 million kilometers, reflecting a year-on-year growth of 9.91% [31]. The number of 5G base stations reached 4.549 million, with a net increase of 298,000 from the end of the previous year [36]. 5. Investment Recommendations - The report suggests focusing on companies that align with the themes of "technology commercialization, policy catalysis, and performance certainty." Recommended stocks include China Telecom, FiberHome, Yangtze Optical Fibre, and Weisheng Information, each with distinct competitive advantages in the communication sector [40][41].

Core Insights - Scientists from Osaka University and Hiroshima University have observed quantum entanglement in cerium rhodium tin (CeRhSn) material, regulated by Planck time, marking a significant advancement in quantum computing research [1][2] - The study published in the journal "npj Quantum Materials" highlights the unique properties of heavy fermions and their potential applications in solid-state quantum computers [1][2] Group 1: Quantum Entanglement and Heavy Fermions - The research confirms that the behavior of heavy fermions aligns with the mathematical description of quantum entanglement, with entanglement duration influenced by Planck time [2] - Heavy fermions are formed due to strong interactions between conduction electrons and localized magnetic electrons, leading to unconventional superconductivity and other unique properties [1] - The unique lattice structure of CeRhSn exhibits geometric frustration, preventing the system from reaching a stable energy state, thus resulting in various quantum phenomena [1] Group 2: Implications for Quantum Computing - The findings provide a deeper understanding of the nature of quantum entanglement and the complex interactions between heavy fermions, paving the way for manipulating quantum states in solid materials [2] - Continued research on these entangled states could offer new solutions for quantum communication and quantum computing technologies [2]

今日光模块午后猛涨，很多投资者都在想有没有"光模块ETF"可以低位上车？有的朋友，有的，可以关 注一下光模块含量非常高的通信ETF（515880），规模超30亿元，指数中光模块占比超40%，其中光模 块三巨头占比超32%。 东莞证券指出，上半年我国通信业运行基本平稳，电信业务量收保持增长，新型基础设施建设有序推 进，5G、千兆、物联网等用户规模持续扩大，移动互联网接入流量保持较快增势。展望后市，2025年 通信行业处于技术迭代与政策红利叠加期，AI、量子通信、低空经济等新质生产力方向将持续释放增 长动能，蜂窝物联网模组从库存调整中复苏回暖，基站、光缆线路、数据中心等通信设施建设有望持续 推进，带来新的器件、设备与服务运营需求。 从基本面看，AI发展仍处在极早期阶段，在海内外算力基础设施持续投入的背景下，光模块市场有望 维持高景气度。可以关注光模块含量超40%的通信ETF（515880），三巨头占比超32%，有望充分受益 于AI算力的需求爆发。 注：数据来源：中证指数公司，wind，截至2025/7/16。中证全指通信设备指数前十大成份股为新易盛 （15.08%）、中际旭创（13.59%）、中兴通讯（9.59% ...

Core Insights - Harvard University researchers have developed a new optical device called "metasurface" that can perform complex quantum operations on a single plane, addressing scalability issues in photon quantum information processing [1][2] - The metasurface integrates multiple traditional optical component functions, potentially revolutionizing quantum computing and quantum communication at room temperature [1][2] Group 1: Metasurface Technology - The metasurface is a nanometer-thick optical element with micro-nano structures smaller than the wavelength of light, allowing precise control over light's phase and polarization [2] - This technology condenses complex quantum optical systems into a miniaturized platform, significantly enhancing system stability and interference resistance [2] Group 2: Design and Production - The research team utilized graph theory to model multi-photon interference paths, translating these abstract graphs into actual nanoscale structures on the metasurface [2] - This method closely links metasurface design with quantum optical states, providing a systematic approach for constructing specific quantum state devices [2] - The integrated design of the device greatly reduces optical loss, which is crucial for maintaining quantum information integrity [2] - The device can be mass-produced using existing semiconductor manufacturing processes, indicating potential for low-cost and replicable production models [2] Group 3: Broader Applications - The potential applications of this technology extend beyond quantum computing, with prospects for advancements in quantum sensing and fundamental research, offering new tools akin to "chip laboratories" [2]

Group 1 - The European Union has committed €4.5 billion to quantum technology, significantly increasing its investment from the initial €1 billion launched in 2018, indicating a strong urgency to remain competitive in the global tech landscape [3][4][6] - Quantum technology is seen as essential for future survival, with quantum computers potentially able to outperform current supercomputers, posing risks to existing encryption and security systems [4][5][6] - The EU's investment is not just for research but is viewed as a "ticket" to avoid being left behind in the quantum era, highlighting the high stakes involved in technological competition [3][4][5] Group 2 - Chinese companies are now involved in the standard-setting process for quantum technology, which is crucial as it allows them to influence future industry rules and gain a competitive edge [6][7][8] - The collaboration between the EU and Chinese firms is driven by the recognition that global technology supply chains are interconnected, making it impractical to exclude China from the quantum technology landscape [7][8][11] - By participating in standard-setting, Chinese companies can strategically position themselves in the future quantum technology market, avoiding past pitfalls of being dependent on foreign standards [7][8][11] Group 3 - Quantum technology is not just theoretical; it has practical implications for everyday life, including secure communications and advancements in fields like drug discovery and weather forecasting [8][9][10] - The potential applications of quantum computing could revolutionize various industries, enabling faster drug development and more accurate weather predictions, although widespread commercial use may still be years away [9][10][11] - Quantum sensors could lead to breakthroughs in medical diagnostics and geological exploration, showcasing the transformative potential of quantum technology [10][11] Group 4 - The global race for quantum technology involves multiple countries, each bringing unique strengths, indicating that collaboration may be more beneficial than competition [11][12] - The complexity of quantum technology development necessitates international cooperation, as no single nation can dominate all aspects of the field [11][12] - The ultimate goal of quantum technology development is to improve human life, emphasizing the importance of collective progress rather than individual victories [12][14]

Group 1 - The Mozi Quantum Science Foundation announced the winners of the 2025 "Mozi Quantum Prize," recognizing three scientists in the field of quantum simulation [1][2] - The awardees include Immanuel Bloch from the Max Planck Institute of Quantum Optics and Munich University, Tilman Esslinger from ETH Zurich, and Markus Greiner from Harvard University [1] - Immanuel Bloch is known for his research in quantum optics, quantum information processing, and condensed matter physics, contributing to the emergence of a new interdisciplinary field—ultracold atom optical lattice quantum simulation [1] - Tilman Esslinger achieved the realization of the Fermi-Hubbard model in ultracold atom optical lattices, providing a highly controllable quantum simulation platform for studying strongly correlated many-body systems [1] - Markus Greiner, along with Bloch and Esslinger, was the first to realize the Bose-Hubbard model in ultracold atom optical lattices, validating key theoretical predictions of strongly correlated quantum many-body systems [1] Group 2 - The Mozi Quantum Science Foundation was established in 2018 and created the "Mozi Quantum Prize" to honor scientists who have made outstanding contributions in quantum communication, quantum computing and simulation, and quantum precision measurement [2]

Group 1: Communication ETF Performance - The Communication ETF has a turnover rate of 5.42% and a transaction volume of 5.9067 million yuan during the trading session [3] - Over the past month, the Communication ETF's scale increased by 3.2637 million yuan, ranking first among comparable funds [3] - As of July 31, the net value of the Communication ETF has risen by 45.63% over the past year, placing it in the top 15.56% of index equity funds [3] Group 2: Industry Outlook - The telecommunications industry in China has shown stable operation in the first half of the year, with growth in telecom business volume and orderly progress in new infrastructure construction [3] - The user base for 5G, gigabit, and IoT continues to expand, with mobile internet access traffic maintaining rapid growth [3] - By 2025, the telecommunications sector is expected to experience a period of technological iteration and policy dividends, with new growth drivers emerging from AI, quantum communication, and low-altitude economy [3] Group 3: North American vs. Domestic Computing Power Chains - North American computing power chains, represented by "Yizhongtian," have significantly outperformed domestic counterparts like SMIC and Cambrian [4] - The divergence is primarily driven by performance, with North American cloud vendors reaffirming increased AI capital expenditures and clearer overseas optical module demand guidance for next year [4] - Since Q2, the performance of North American computing power chains has seen substantial upward revisions [4] Group 4: Major Stocks in the Communication Index - As of July 31, the top ten weighted stocks in the National Communication Index include Zhongji Xuchuang, Xinyi Sheng, China Telecom, ZTE, China Mobile, China Unicom, Zhongtian Technology, Transsion Holdings, Tianfu Communication, and Wentai Technology, collectively accounting for 61.8% of the index [4] - The performance of these stocks varies, with Zhongji Xuchuang down by 2.05% and Transsion Holdings up by 2.82% [6]

Group 1 - The article discusses the implementation of a smart power supply system for the 15th National Games and the Special Olympics in Shenzhen, highlighting the use of the "All Electric Hong + Quantum Communication" system to enhance power supply efficiency and monitoring [1][2] - Shenzhen is hosting approximately 20% of the events for the National Games and Special Olympics, covering all nine districts of the city, which necessitates a robust power supply strategy [1] - The "Electric Hong" system, developed by Southern Power Grid, is the first domestic power IoT operating system, enabling real-time monitoring and communication between various power supply devices [2] Group 2 - The deployment of the Electric Hong system involves the installation of 2,000 monitoring terminals across various venues, allowing for comprehensive monitoring from 220V outlets to 500kV high-voltage equipment [2] - A quantum encrypted communication line is being constructed to enhance data transmission security and reduce construction costs, marking the first practical application of integrated quantum communication technology in the power industry [2] - The Shenzhen Power Supply Bureau is also exploring the use of energy storage, artificial intelligence, and robotic inspections to further empower the event's power supply infrastructure [2]

Group 1 - The Hong Kong Stablecoin Regulation, effective from August 1, marks the world's first comprehensive regulatory framework for fiat-backed stablecoins [1] - Under the regulation, any entity issuing fiat-backed stablecoins or stablecoins pegged to the Hong Kong dollar must obtain a license from the Hong Kong Monetary Authority, and only licensed institutions can sell stablecoins to retail investors [1] - The regulation aims to establish an offshore RMB cross-border payment system, with Real World Assets (RWA) as a key tool to enhance liquidity and reduce transaction costs in traditional finance [1] - The settlement cycle for tokenized government bonds in Hong Kong has been reduced from T+2 to seconds, improving efficiency by 90% [1] - Boston Consulting Group predicts that the global RWA market will reach $16 trillion by 2030, with an extreme optimistic scenario of up to $68 trillion [1] - As the regulatory framework matures, quantum communication is expected to become an essential technological support for the stablecoin ecosystem [1] - Major traditional banks like HSBC and Citibank are positioning themselves through subsidiaries or joint ventures following the implementation of the stablecoin regulation, while leading fintech companies like Ant International are expected to accelerate their entry into the market [1] Group 2 - Tianyang Technology has launched a "Unified Payment Center" solution that integrates stablecoin channels [2] - GCL-Poly Energy has collaborated with Ant Group to complete the first domestic RWA transaction for photovoltaic physical assets [3]