（来源：杨门灼见） 《日经亚洲》报道称"中国正试图主导全球电信市场"，美日英加澳这些所谓的"民主阵营国家"，希望共同推进Open RAN，也就是"开放无线接入网"，来 对抗中国在该领域的影响力。 说白了，就是在电信领域竞争不过中国了，于是这5个国家打算组成一个"小圈子"，通过整合多家厂商的设备，建设低成本的电信设施，然后再来跟中国 竞争。 不得不说，西方国家的规矩是专门给别人立的，轮到自己这里了，也不顾什么"自由贸易"和"公平竞争"了。 日本终于等来了帮手？一场闭门会议将在东京召开，"五国联盟"齐上阵，想要给中方"立规矩"。 "电信五眼联盟"——日本、美国、英国、加拿大和澳大利亚 中日风波还未平息，一些国家就开始跟日本勾勾搭搭，而且这次目标还是冲着中国来的。 接下来几天，"电信五眼联盟"巨头——美国、英国、日本、澳大利亚和加拿大，将在东京举行一场闭门会议。 这还是自五国成立"全球电信联盟"以来，首次将在日本举行面对面会议。 放在当前的地区局势中来看，很显然有着特殊含义： 首先就是表明，美英加澳跟日本站在一起，至少在电信领域，五国有着共同利益，可以暂时结成"同盟关系"。 其次就是强调，美西方有制定游戏规则的权力 ...

Core Viewpoint - The "14th Five-Year Plan" serves as a precise navigation map for the Chinese technology industry, particularly highlighting four key concepts: new quality productivity, new type of national system, new security pattern, and Chinese-style modernization, which align closely with the development of the autonomous driving industry [2][3]. Group 1: New Quality Productivity - Autonomous driving exemplifies new quality productivity by leveraging cutting-edge technologies such as AI, big data, and IoT to revolutionize transportation, urban sanitation, and logistics efficiency [3]. - The plan emphasizes the full implementation of the "AI+" initiative and promotes deep integration of innovation chains, industry chains, capital chains, and talent chains, facilitating the technological iteration and commercialization from Level 2 (partial automation) to Level 4 (high automation) [3][4]. - The autonomous driving services, including Robotaxi, Robobus, and Robovan, significantly enhance travel efficiency, reduce operational costs, and create new employment opportunities, aligning with the plan's focus on high-level technological self-reliance [3][4]. Group 2: New Type of National System - The new type of national system provides crucial support for overcoming key core technologies in the autonomous driving industry, which is complex and involves multiple foundational elements such as chips, operating systems, high-precision maps, and sensors [4]. - The system is characterized by market-based mechanisms guided by national strategies, enabling coordinated resource integration to tackle critical challenges [4]. - National-level coordination accelerates infrastructure development and standardization, creating a conducive environment for the large-scale deployment of autonomous driving technologies [4]. Group 3: New Security Pattern - Safety is paramount in autonomous driving, encompassing functional safety, expected functional safety, network security, data security, and national-level technology and supply chain security [4]. - The heightened national focus on safety will drive the establishment of stricter and unified safety standards and certification systems, purging non-compliant entities from the market [4]. - Policies addressing data security will lead to improved data governance frameworks, enhancing public trust, which is essential for large-scale commercialization [4]. Group 4: Chinese-style Modernization - The development of autonomous driving is integral to the journey of Chinese-style modernization, with the country's vast transportation and logistics demands providing an ideal testing ground for world-class autonomous driving technologies [5][6]. - The emphasis on new urbanization, rural revitalization, and a strong transportation nation within the plan supports diverse application scenarios for autonomous driving, contributing to modernization efforts [5][6]. Group 5: Future Industry Integration - The "14th Five-Year Plan" encourages forward-looking layouts in future industries, with 6G and brain-computer interfaces highlighted as key areas that can synergize with autonomous driving [7][8]. - 6G technology is crucial for achieving high-level vehicle-road collaboration, enabling real-time awareness of dynamic environments and enhancing safety [7]. - Brain-computer interfaces offer unique applications in semi-autonomous driving scenarios, allowing for emergency control and improved interaction within smart cabins [8]. Group 6: Breakthroughs in Commercialization - The next five years are expected to be pivotal for achieving significant breakthroughs in Level 4 autonomous driving commercialization, focusing on three main areas: establishing unified access standards, clarifying liability, and opening typical scenarios for commercialization [9]. - A national-level initiative to create a unified certification system for Level 4 autonomous driving will facilitate large-scale operational networks [9]. - Clear legal frameworks for accident liability are essential to remove barriers to commercialization, while the systematic opening of urban public transport and logistics scenarios will enhance technology iteration and business model validation [9]. Group 7: Industry Outlook - The planning suggestions are viewed as both a compass and an accelerator for the autonomous driving industry, with expectations for a historic leap from demonstration operations to large-scale commercialization in the next five years [10].

本报讯(记者李昱丞)近日，蜂助手（301382）股份有限公司(以下简称"蜂助手")与星航互联(北京)科技有 限公司(以下简称"星航互联")正式签署合作备忘录，标志着蜂助手正式布局航空互联网业务领域。双方 将依托各自核心优势，携手深耕航空互联网场景，共同推动飞机客舱通信娱乐服务的升级与规模化落 地，为航空出行数字化转型注入新活力。 据悉，本次合作将以航空互联网服务生态构建为核心，聚焦飞机客舱蜂窝上网娱乐场景的打造与运营。 一方面，双方将深度整合蜂助手在数字商品权益、物联网、云终端板块的技术积淀与星航互联的卫星通 信资源，推动飞机客舱蜂窝上网娱乐业务领域技术研发。另一方面，蜂助手将发挥自身运营与渠道优 势，助力星航互联及合作航司提升飞机上网服务的转化效率，实现用户与收益的双重增长。 航空互联网不仅是低空经济发展的核心数字底座，更是6G技术落地验证的重要场景，成为激活低空经 济等新兴产业万亿级市场潜力的关键抓手。蜂助手此次布局航空互联网业务，正是紧跟国家战略导向与 产业发展趋势，把握航空互联网与6G、卫星通信技术融合的时代机遇。 作为数字化智能化技术和服务提供商，蜂助手多年来深耕数字商品、物联网、云终端领域。公司积 ...

Core Insights - The report focuses on the talent and compensation analysis in the satellite internet industry, highlighting the industry's strategic importance and growth potential as it transitions into a phase of scale expansion and commercialization [1][4]. Group 1: Industry Overview - The satellite internet industry constructs space-based network infrastructure through satellite constellations, providing broadband communication services globally, especially in remote areas [11]. - China's satellite internet industry has developed a complete supply chain, including satellite manufacturing, rocket launching, and ground terminal equipment, and is experiencing significant growth driven by technological advancements and policy support [11][12]. Group 2: Compensation Characteristics - The industry exhibits characteristics of high-level scarcity, technical premium, and scale-driven compensation, with a notable demand for senior management and technical talent [15][17]. - Senior management positions, such as directors, earn significantly higher total cash compensation compared to lower-level positions, with directors in large enterprises earning approximately 979,916 yuan, which is 79.4% higher than their counterparts in smaller firms [19][23]. - Compensation levels are strongly correlated with company size, with larger firms offering higher salaries across all levels, indicating a competitive advantage in attracting top talent [20][23]. Group 3: Graduate Compensation Trends - Graduate compensation is driven by high educational qualifications, with master's degree holders from key institutions earning starting salaries of 25,900 yuan per month in 2024, reflecting a 62.9% increase from 2022 [26][27]. - The salary gap between graduates from key universities and those from ordinary institutions is widening, with the starting salary for key university graduates being 35% higher than that of ordinary university graduates [27][29]. - Regional strategies are reshaping the compensation landscape, with cities like Suzhou and Changsha attracting talent through competitive salaries and favorable policies, despite lower living costs compared to major cities like Shanghai [29][31]. Group 4: Job Market Dynamics - The demand for technical positions is high, with many roles requiring at least three years of experience, pushing graduates to gain practical experience through internships [30]. - The job market shows significant fluctuations, with recruitment data indicating a "V-shaped" recovery pattern, followed by a decline in hiring activity in subsequent months [40][48].

四川九洲（000801.SZ）12月2日在投资者互动平台表示，公司控股子公司四川九洲电子科技股份有限公 司已在5G通信技术、10G PON、WiFi6/7等通信技术领域开展产品开发及市场布局，同时在积极跟进6G 技术发展。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问公司在6G方面有没有布局？如果有，目前处于什 么阶段？ ...

Core Viewpoint - The company is actively involved in the development of communication technologies, including 5G, 10G PON, and WiFi 6/7, while also keeping pace with advancements in 6G technology [1]. Group 1 - The company has a subsidiary, Sichuan Jiuzhou Electronic Technology Co., Ltd., that is engaged in product development and market positioning in various communication technology fields [1]. - The company is following the developments in 6G technology actively [1].

Core Viewpoint - The merger between Skyworks Solutions and Qorvo is a strategic response to market pressures, creating a new RF industry giant valued at up to $22 billion with annual sales of approximately $7.7 billion, aiming to save over $500 million in operating costs annually [2][5][53]. Group 1: Merger Details - The merger is structured as a "cash and stock" transaction, allowing the new entity to continue operating under the Skyworks Solutions name with the same NASDAQ ticker symbol SWKS [2][5]. - This merger marks a significant shift in the RF front-end industry, potentially restructuring the competitive landscape and signaling the end of an era for the two leading companies [5][6]. Group 2: Market Context - Skyworks and Qorvo have maintained a dominant position in the RF front-end market, particularly in China, despite larger competitors like Qualcomm and Broadcom having different business models [4][5]. - The RF industry has seen multiple mergers and acquisitions that have reshaped market dynamics, with this merger being particularly impactful due to its strategic focus on efficiency rather than competition [6][8]. Group 3: Industry Dynamics - The RF front-end industry is characterized by a high degree of order and stability, with a projected market size of approximately $15.4 billion by 2025, indicating significant growth potential [14]. - The industry has evolved through three stages: initial technological barriers, design capabilities, and now market strategies, with the current phase focusing on efficiency and cost reduction [19][51]. Group 4: Competitive Pressures - The RF front-end market is facing saturation, with global smartphone shipments plateauing around 1.2 billion units annually, leading to increased competition and reduced growth opportunities for major players [55][59]. - Both Skyworks and Qorvo have experienced declining profit margins due to rising competition from Chinese manufacturers and the need to maintain pricing power in a saturated market [60][66]. Group 5: Future Opportunities - The merger is seen as a strategic move to consolidate resources and enhance bargaining power within the supply chain, allowing the new entity to better navigate the competitive landscape [80]. - The restructuring of the RF industry presents a unique opportunity for Chinese manufacturers to transition from being technology followers to active participants in shaping industry standards [75][79].

国新证券指出，通信企业正积极探索未来新增长点。6G技术作为未来十年重要的新一代数字信息 网络基础设施，将实现通信、感知、计算、智能等多技术融合创新，我国已完成第一阶段6G技术试 验，形成超300项关键技术储备。华为发布的Flex：ai技术通过算力虚拟化与智能调度提升资源利用率， 为AI基础设施发展提供支撑，反映出通信行业在技术创新领域的持续突破。 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 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。通信ETF（515880）规 模同类第一，截至10月28日，通信ETF光模块占比达52%，服务器占比达22%，叠加光纤、铜连接等环 节，合计占比超81%，代表了海外算力的基本面底气。 注：数据来源：中证指数公司，wind，截至2025/11/28，通信ETF规模为113亿，在同类15只产品中 排名第一。权重占比截至2025/1 ...

"十五五"期间，我国将重点开展6G标准研制与产业研发。2030年具备6G规模组网能力，面向个人用户 衣食住行及工作等全生活场景，提供更加定制化、沉浸化、智能化的应用服务，预计到2035年，将实现 6G规模化商用部署，有望培育形成万亿元级的6G产业及应用。 广东低空经济激活千亿市场 来源：央视财经 近期，中国在6G、低空经济与海洋科技领域取得系列突破：超300项6G技术前瞻布局，千亿级低空市场 深度融合，无人艇实现精准作业，硬核科技绘制发展新蓝图。 我国已形成6G领域关键技术储备超300项 据介绍，目前我国已完成第一阶段6G技术试验，形成超过300项关键技术储备。 无人机运输药品、无人机植保、无人机送外卖……在广东的各大城市，无人机的应用场景正在变得越来 越丰富。广东作为低空经济发展的省域排头兵，其低空经济规模已经超千亿元，汇聚了超过1.5万家相 关企业。应用场景的加速落地离不开当地完善的产业链，涵盖核心零部件、智能制造、飞行试验、运营 服务、检测认证等多个环节，占全国低空经济产业链企业的30%以上，位居全国第一。 去年5月，广东省下发《推动低空经济高质量发展行动方案》，明确提出到2026年，低空经济规模超 3 ...

Group 1 - The core viewpoint emphasizes the importance of consolidating and expanding poverty alleviation achievements while effectively connecting these efforts with rural revitalization, ensuring no gaps in work and policies [5][6] - Over the past five years, the country has maintained a firm stance against large-scale poverty return, with the living standards of the impoverished population steadily improving and the vitality of poverty-stricken areas continuously enhancing [5][6] Group 2 - In November, the Purchasing Managers' Index (PMI) for China's manufacturing sector showed a positive trend, reaching 49.2%, an increase of 0.2 percentage points from the previous month, with most sub-indices rising [7] - Hebei and Ningxia are focusing on optimizing and upgrading traditional industries, promoting the foundation of the real economy through digital transformation and resource integration [6][9]