中共中央政治局1月30日就前瞻布局和发展未来产业进行第二十四次集体学习。中共中央总书记习近平 在主持学习时强调—— 在中共中央政治局第二十四次集体学习时说 2026年1月30日 P (图 机图 程 未来产业具有 前瞻性、战略性、颠覆性等特点, 需要科学谋划、全局统筹。 要聚焦"十五五"时期 我国未来产业发展的主攻方向, 科学论证技术路线, 提升前沿技术战略预判能力。 习近平 在中共中央政治局第二十四次集体学习时说 2026年1月30日 P (图) 编图 中国 狗闻 網 要综合考虑 国家战略需求、技术成熟程度、 要素支撑条件等因素, 因地制宜、错位发展。 要强化产业协同, 推动未来产业 同新兴产业、传统产业 相傳益彰。 习近平 要充分发挥新型举国体制优势, 坚持"产业出题、科技答题", 加大重点领域 关键核心技术攻关力度, 加强基础研究 战略性、前瞻性、体系化布局, 加快科技成果转化应用。 习近平 在中共中央政治局第二十四次集体学习时说 2026年1月30日 . 倒 利用 据 很多未来产业的兴起 是靠企业一步步突破带动的。 要发挥企业主体作用, 推动各类创新资源向企业集聚, 大力培育 核心技术领先、创新能力强的 ...

Group 1 - The State-owned Assets Supervision and Administration Commission (SASAC) held a meeting emphasizing the need for rapid breakthroughs in key core technologies during the 14th Five-Year Plan period [1] - The number of leading technology enterprises is expected to steadily increase [1]

Core Viewpoint - The article discusses the implementation of the State Council's opinions on accelerating the cultivation and opening of application scenarios, marking a systematic deployment of scenario cultivation in China [1][2]. Group 1: Definition and Importance of "Scenarios" - "Scenarios" are defined as specific contexts for the innovative application of new technologies, products, and business models, originating from the film industry and now applied across various sectors [3]. - The absence of scenarios can hinder the transition of innovative results from theory to market, emphasizing the need for scenario openness to bridge the gap between technology and industry [3]. Group 2: Key Areas for Scenario Development - The implementation opinions outline five main areas for scenario cultivation and opening: digital economy and AI applications, manufacturing and transportation upgrades, mining and emergency services, social governance, and enhancing livelihood applications [4]. - The Ministry of Industry and Information Technology plans to accelerate the cultivation of application scenarios in these five key areas [4]. Group 3: Specific Application Scenarios - The five highlighted application scenarios include: 1. "5G+" applications focusing on factory construction and integrated solutions [4]. 2. "AI+" applications extending AI into manufacturing processes [4]. 3. "Robotics+" applications promoting the use of robots in various industrial settings [5]. 4. "Industrial Internet+" applications integrating industrial internet with key industries [6]. 5. "Beidou+" applications enhancing the integration of Beidou technology in smart cities and agriculture [6]. Group 4: Strengthening Leading Technology Enterprises - The Ministry of Science and Technology aims to enhance the role of enterprises in technological innovation, promoting a rapid iteration mechanism from demand to application [7]. - The government encourages state-owned enterprises to open their scenarios to attract participation from private and small enterprises [7][8]. Group 5: Local Practices and Initiatives - Guangdong and Anhui provinces are leading in implementing these initiatives, with Guangdong establishing a comprehensive scene innovation mechanism and Anhui launching a city scene innovation promotion center [9]. - Anhui aims to develop 1,000 application scenarios by 2027, focusing on areas like quantum information and artificial intelligence [9].

Investment Rating - The report maintains a "Strong Buy" rating for China Telecom [2][6] Core Views - In the first half of 2025, China Telecom's operating performance improved steadily, with revenue of 269.4 billion yuan, a year-on-year increase of 1.3%, and a net profit attributable to shareholders of 23 billion yuan, up 5.5% year-on-year [1][5] - The company has significantly enhanced its role in technological innovation, leading to improved shareholder returns [1][5] - The growth in basic business revenue is stable, with a notable increase in users and maintained user value [5][6] Summary by Sections Financial Performance - In H1 2025, China Telecom achieved revenue of 269.4 billion yuan, with service revenue at 249.1 billion yuan, reflecting a year-on-year growth of 1.2% [5] - For Q2 2025, the company reported revenue of 134.9 billion yuan, a 2.6% increase year-on-year, and a net profit of 14.2 billion yuan, up 7.1% from the previous quarter [5] - Mobile business revenue reached 106.6 billion yuan in H1 2025, with a year-on-year growth of 1.3% and a net user increase of 3.24 million in Q2 [5] Strategic Developments - The company is accelerating the development of strategic emerging industries, with significant achievements in cloud, AI, quantum, and satellite technologies [5] - The revenue from the Tianyi Cloud business reached 57.3 billion yuan in H1 2025, growing 3.8% year-on-year [5] - AI-related revenues surged by 89.4% year-on-year, reaching 6.3 billion yuan, with over 160 AI applications developed [5] Cost Management and Shareholder Returns - Operating costs increased by only 0.9% year-on-year, which is lower than the revenue growth rate, leading to a net profit margin increase to 9.2% [5] - The company has prioritized shareholder returns, continuing to distribute interim dividends of 0.1812 yuan per share, an increase of 8.4% year-on-year, with a payout ratio of 72% [6] - Capital expenditures in H1 2025 were 34.2 billion yuan, a decrease of 27.5% year-on-year, with a full-year budget of 83.6 billion yuan [5][6]