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][44]. Core Insights - The communication industry is currently in a phase of technological iteration and policy benefits, with new growth drivers emerging from AI, quantum communication, and low-altitude economy. The construction of communication facilities such as base stations, optical cables, and data centers is expected to continue, leading to new demands for devices, equipment, and service operations. The report suggests focusing on opportunities under the themes of "technology commercialization + policy catalysis + performance certainty" [3][41]. Summary by Sections Industry Market Review - The communication sector has seen a cumulative decline of 9.73% over the past two weeks (March 28 to April 10), underperforming the CSI 300 index by 4.71 percentage points. In April, the sector has dropped 9.63%, and year-to-date, it has decreased by 10.69%, also underperforming the CSI 300 index by 5.61 percentage points [11][12]. Industry News 1. IDC reported that the volcanic engine holds a 46.4% market share in China's public cloud large model service market as of 2024 [17][18]. 2. The Ministry of Industry and Information Technology (MIIT) is working on improving the 5G standard system and advancing research on 5G-A and 6G standards [19]. 3. IDC forecasts that China's total investment in artificial intelligence will exceed $100 billion by 2028, with a compound annual growth rate of 35.2% [20]. 4. Juniper Research predicts that mobile operators will invest over $86 billion in AI from 2025 to 2029 [21]. 5. In February 2025, the domestic smartphone shipment reached 19.662 million units, a year-on-year increase of 37.9% [22]. Company Announcements - Yiyuan Communication expects a net profit of approximately 200 million yuan for the first quarter of 2025, representing a year-on-year increase of about 265.19% [23][24]. - Zhongji Xuchuang anticipates a net profit of 1.4 to 1.7 billion yuan for the first quarter, a year-on-year increase of 38.71% to 68.44% [25]. - StarNet Ruijie expects a net profit growth of 211.64% to 298.20% for the first quarter of 2025 [26]. Industry Data Updates - As of February 2025, the mobile phone user base reached approximately 1.793 billion, a year-on-year increase of 3.84% [27]. - The internet broadband access user base was about 675 million, up 6.04% year-on-year [30]. - The total length of optical cable lines reached approximately 72.88 million kilometers by Q4 2024, a year-on-year increase of 13.31% [32]. - By December 2024, the number of 5G base stations reached 4.251 million, with a net increase of 874,000 from the previous year [37]. Investment Recommendations - The report suggests focusing on companies such as China Telecom (601728.SH), FiberHome (600498.SH), and Weisheng Information (688100.SH) as potential investment opportunities [41][42].

Core Viewpoint - The China Securities Hong Kong Dividend Index has shown fluctuations, with a recent increase of 1.42% but a decline of 8.35% over the past month, indicating volatility in high dividend yield securities in the Hong Kong market [1][2] Group 1: Index Performance - The China Securities Hong Kong Dividend Index closed at 2946.02 points with a trading volume of 24.838 billion yuan [1] - The index has experienced a decline of 0.51% over the past three months and a year-to-date decrease of 4.42% [1] Group 2: Index Composition - The index comprises 30 securities listed on the Hong Kong Stock Exchange, selected based on high cash dividend yields, stable dividends, and liquidity [1] - The top ten weighted securities in the index include: - Bank of China (10.98%) - China Mobile (10.86%) - Industrial and Commercial Bank of China (10.55%) - China Construction Bank (9.91%) - CNOOC (8.97%) - Agricultural Bank of China (5.99%) - Bank of Communications (5.23%) - China Petroleum & Chemical Corporation (4.97%) - China Shenhua Energy (4.6%) - China Petroleum (4.17%) [1] Group 3: Sector Allocation - The sector allocation of the index shows that finance accounts for 49.43%, energy for 25.80%, communication services for 16.88%, and other sectors such as industrial, materials, utilities, and real estate make up the remaining percentages [2] - The index is adjusted annually, with changes implemented on the next trading day after the second Friday of December [2]

作者 | 深鹏 数据支持 | 勾股大 数 据（www.gogudata.com） 经过昨天的大跌，今天 A 股迎来反弹。 开盘后，各大指数都翻红，上午 全市场 便有 超 3200 只个股上涨 ， 成交额 超过 1 万 亿 。 盘面上，涨势较好的，依然是反制概念，像农业、内需消费等等，下跌的则是受关税影响较大的板块，如 苹果概念 。 而随着国家多方面出手稳定市场，另外一个概念板块，可能会陆续出现不错的配置机会。 这个概念板块，究竟是什么？ 类"平准基金"，来了 01 昨天下午临近尾盘，一个消息在投资圈里流传开来：权威人士称，中央汇金公司正在积极开展稳市操作。 之后，中央汇金公司公告称，中央汇金公司坚定看好中国资本市场发展前景，充分认可当前 A 股配置价值，已再次增持了 交易型开放式指数 基金 (ETF) ，未来将继续增持坚决维护资本市场平稳运行。 在此消息刺激下， A 股止住 了向下的走势，反而有了一个小型反弹。 而今天，消息面的刺激进一步加码，不仅 汇金 ， 金监、央行 同时 出手，释放 出 明确信号 ： 坚决维护资本市场平稳运行 ！ 其中， 中央汇金公司 在盘前就公开表示 ，将坚定增持各类市场风格的 ETF ...

重要的消息有哪些 三部门：支持国三、国四排放标准营运货车报废更新 近日，交通运输部、国家发展改革委、财政部发布关于实施老旧营运货车报废更新的通知，支持国三、国 四排放标准营运货车报废更新，加快更新一批高标准低排放营运货车。对提前报废老旧营运货车、提前报 废并更新购置国六排放标准货车或新能源货车、仅新购符合条件的新能源货车，按照报废车辆类型、提前 报废时间和新购置车辆动力类型等，实施差别化补贴标准。 外交部回应李嘉诚拟出售港口 3月18日，外交部发言人毛宁主持例行记者会。法新社记者提问，有报道称，在长江和记集团同意出售在 巴拿马业务后，中国政府正就该集团出售海外港口对其开展调查。外交部能否证实并提供更多细节？毛宁 回应称，有关具体情况请向主管部门询问。作为原则，我想强调，中方一贯坚决反对利用经济胁迫、霸道 霸凌侵犯损害他国正当权益的行为。 市场监管总局：不得排斥限制外地经营者参加本地政府采购 市场监管总局近日发布《公平竞争审查条例实施办法》，将于4月20日正式施行。《实施办法》规定， 起 草涉及经营者经济活动的政策措施，不得禁止外地经营者参与本地政府采购、招标投标活动；不得直接或 者变相要求优先采购在本地登记注 ...

4、与辉同行3月16日发布声明，与辉同行将对购买过"大岸浪花"品牌冷冻虾仁的消费者，先行按照"退 一赔三"的金额进行售后服务。同日，中国移动、中国电信、中国联通分别发文称，对有关通信电话营 销的报道高度重视，已开展全面自查。 // 环球市场 // 1、上周道指周线遭遇两连阴，纳指、标普500指数周线四连阴。扰动美股的不确定性因素推动金价 继续走强。 本周，美联储、英国央行、日本央行等将公布最新利率决议，成为投资者关注的重点。 业内认为，这些央行有望传递出新的关于经济前景的判断和货币政策的线索，从而影响股市、汇市 及金价走势。 // 宏观 // // 热点聚焦 // 1、 中办、国办印发《提振消费专项行动方案》。方案提出，多措并举稳住股市，加强战略性力量储备 和稳市机制建设，加快打通商业保险资金、全国社会保障基金、基本养老保险基金、企（职）业年金基 金等中长期资金入市堵点， 强化央企国企控股上市公司市值管理，依法严厉打击资本市场财务造假和 上市公司股东违规减持等行为。进一步丰富适合个人投资者投资的债券相关产品品种。 鼓励金融机构 在风险可控前提下加大个人消费贷款投放力度，合理设置消费贷款额度、期限、利率。 支持 ...