12月11日，老人起诉移动流量月清零案当事人称，他向湖南高院申请再审后，法院已立案审查，同时湖 南高院已组成合议庭进行审理。当事人李先生称，湖南高院致电他是否有新证据提交，他回复说没有。 2024年8月，湖南74岁的李先生因套餐流量次月被清零起诉永州移动分公司，索赔11万余元，法院一审 和二审均判决他的知情权和公平交易权未受侵犯，不予支持起诉。 ...

近日，知情人士透露广东移动副总经理郑川已于去年释放，但已坐牢多年，期间，他一直不服，坚称自 己被冤枉。 但根据郑川妻子转述，真实情况是郑川外甥江建华要投 资广东高要市一地产项目（与政府合作的），找老乡林 广善合作共同出资，收益按比例分配，风险共担，江建 华与林广善的合作及款项往来郑川并不知情，地产项目 与郑川毫无关系。 此前2013年9月，时任广东移动副总经理郑川被带走调查，后在经历了多次调查审查、在关押近6年后终 于判决出炉，依然维持原判处以11年有期徒刑。 一个案子拖了6年才有了最终审判结果也是罕见，这是因为期间郑川一直坚定声称自己无罪，又伴随着 事实不清证据不足被多次发回重审。为此，郑川的妻子多年来也一直奔走在"伸冤"的道路上，那么但到 底是否为冤案呢？ 郑川被查的起因是因其外甥。当时被带走调查后，郑川被指控为高中同班同学林广善承接工程提供帮 助，其后通过自己的外甥江某华收受林广善贿赂450万元。 此后，郑川外甥也被带走调查，也正是其外甥等人的证词，才最终认定郑川的罪行。 但从郑川妻子的相关伸冤材料了解到，其坚称"冤案"主要聚焦以下几个要点： 首先，郑川至今始终没有承认过任何受贿。 据悉，郑川归案后拒不 ...

Core Viewpoint - The article discusses the issues surrounding the "protective shutdown" implemented by telecom operators in response to fraud prevention efforts, highlighting user dissatisfaction due to unclear triggering mechanisms and cumbersome reinstatement processes [2][22]. Group 1: User Experiences - Users have reported sudden service shutdowns without warning, leading to significant disruptions in their daily activities and travel plans [23][26]. - A specific case involves a user named Li Jing, who experienced a service shutdown after returning to China from Nepal, which severely impacted his travel itinerary [23][24]. - Other users, including a doctor and a restaurant owner, have faced similar issues, often linked to frequent calling patterns or unusual usage behaviors [26][31]. Group 2: Operational Challenges - Telecom operators have established a risk monitoring system as part of the "断卡" (card-cutting) initiative, which aims to combat telecom fraud by automatically shutting down numbers flagged as suspicious [11][12]. - The system categorizes numbers into risk levels, with higher-risk numbers requiring in-person verification for reinstatement, complicating the process for users [32][38]. - Operators face pressure from regulatory bodies to reduce fraud-related incidents, which has led to a high volume of shutdowns, often resulting in user complaints and legal challenges [17][37]. Group 3: Legal and Regulatory Issues - Users have begun to challenge the legality of these shutdowns in court, arguing that the operators' actions infringe on their communication rights and lack transparency [33][35]. - A notable case involved a lawyer who sued an operator after her number was shut down due to high-frequency calling, which was misinterpreted as suspicious behavior [33][35]. - Courts have ruled that operators are not obligated to disclose the details of their fraud detection models, citing the need for confidentiality in combating fraud [35][36]. Group 4: Recommendations for Improvement - Experts suggest that telecom operators should refine their fraud detection processes to minimize user impact, advocating for a more transparent and gradual approach to service restrictions [39][38]. - Recommendations include providing users with timely notifications and a reasonable window for verification before implementing shutdowns, as well as allowing remote reinstatement options [39][38]. - Continuous optimization of the monitoring models and user communication processes is deemed essential to balance fraud prevention with user rights [38][39].

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The rapid development of artificial intelligence is profoundly changing production and lifestyle, driving the upgrade of 5G core networks to AI core networks. Leading operators are actively practicing the commercial monetization of 5G-A intelligent core networks and considering the evolution towards an intelligent native Agentic Core [7][21] - The report identifies six major trends in the evolution of core networks, which have generated significant impact in the industry [7] Summary by Sections Trend One: Experience Management - The exploration of experience management for commercial monetization is beginning to show results, with operators enhancing operational capabilities through intelligence. Over 60% of users are willing to pay for better experiences, making experience rights a core competitive trend for operators [9][30] - Leading operators are exploring how to convert network experience into profitable rights products, combining high-end packages with scenario-based acceleration services to enhance user loyalty and open new revenue channels [30][31] Trend Two: AI Calling - AI Calling helps operators build an exceptional basic calling experience, evolving from voice assistants to multi-modal general assistants, thus seizing the AI business entry point. Operators are leveraging their unique advantages, such as a large user base and trusted numbering systems, to create differentiated competitive barriers [10][60] - The integration of AI capabilities into the entire calling process is key to enhancing user stickiness and stabilizing average call duration [57][61] Trend Three: Autonomous Network Level 4 (AN L4) - AN L4 has become an industry consensus, with network stability and operational efficiency being core strategic goals for operators. The TM Forum has designated 2025 as the commercial year for AN L4, with leading operators beginning to formulate their strategies [11][69] - The introduction of "digital employees" based on intelligent agent technology is playing a crucial role in complaint handling and alarm processing workflows [11] Trend Four: Intelligent Private Networks - The evolution of 5G-A connectivity capabilities is accelerating the development of intelligent private networks, which serve as accelerators for digital transformation across various industries. The integration of AI capabilities into connectivity is essential for building a robust foundation for enterprise AI applications [12] Trend Five: Collaborative Network Operations - The integration of communication, sensing, and computing capabilities is expected to release suppressed traffic and activate intelligent computing services. The report highlights the growing demand for high-definition video and the need for operators to enhance their network capabilities to meet this demand [13] Trend Six: Telecom Cloud Evolution - The telecom cloud is evolving from traditional cloud infrastructure to AI-native infrastructure, enabling operators to transition from "connectivity pipelines" to "connectivity + intelligent computing." This evolution is crucial for supporting the comprehensive intelligence of operator networks [14] Trend Seven: Agentic Core - The trend of agentification in AI terminals and services is driving the agentification of network architecture, enhancing differentiated connectivity capabilities and creating new business paradigms for on-demand network usage. The global digital services market based on agentified networks is projected to exceed $2.5 trillion by 2030 [15]

分析师：李璐毅 登记编码：S0730524120001 lily2@ccnew.com 021-50586278 联系人：李智 电话： 0371-65585629 | | | 地址： 上海浦东新区世纪大道1788 号T1 座22 楼 投资要点： 豆包 AI 手机发布，Marvell 收购 Celestial AI ——通信行业月报 证券研究报告-行业月报 强于大市(维持) 通信相对沪深 300 指数表现 相关报告 ⚫ 维持行业"强于大市"投资评级。截至 2025 年 12 月 9 日，通信行 本报告版权属于中原证券股份有限公司 www.ccnew.com 请阅读最后一页各项声明 第1页 / 共42页 通信 发布日期：2025 年 12 月 11 日 -15% -1% 14% 28% 43% 58% 72% 87% 2024.12 2025.04 2025.08 2025.12 通信 沪深300 资料来源：中原证券研究所，聚源 《通信行业专题研究：高端光芯片供不应求， 国产替代加速》 2025-11-28 《通信行业年度策略：智启新质，算力互联破 浪前行》 2025-11-24 《通信行业月报：北美云厂商继续上 ...

在数字化转型加速推进的背景下，威海移动充分发挥AI大模型与算力网络优势，为山东乳山农商行推 出"AI+书+课"企业智慧学习解决方案，提供"多元化内容+数智化产品+一站式服务"的全方位知识服 务，助力企业构建高效、精准的数字化学习体系。 全品类资源供给，打造企业专属"知识宝库" 在AI+学习内容生产方面，威海移动为乳山农商行搭建了涵盖纸质与数字资源的综合性学习平台。其 中，纸质图书库包含100万册正版书籍，覆盖红色经典、经济金融、职场技能等多个领域，员工可自主 兑换并享受"1件包邮"便捷服务。数字资源方面，平台提供海量电子书、有声课程及AI朗读功能，满足 员工碎片化学习需求；同时引入"大咖说课"专栏，汇聚财经、科技等领域专家观点，并整合主流知识平 台资源，实现"一站式"学习体验。 线上线下融合，构建沉浸式学习场景 项目采用"OMO（Online-Merge-Offline）"模式，打造立体化学习场景，激发学员学习兴趣。线上，融 合图文/视频/音频多形态荐书形式，激发学习热情，助力企业知识沉淀，云端共读，实现思维碰撞，助 力企业塑造内部共识，AI知识竞答，打造趣味学习氛围。线下，组织开展"书香农商 阅启新程"共读 ...

Core Viewpoint - Beijing Unicom's "Warm Winter Return Season" customer day event aims to provide warm and thoughtful services to meet the needs of the community during the winter season [1] Group 1: Community Engagement - Beijing Unicom has initiated community service actions, including on-site assistance for the elderly, addressing communication queries, and conducting network safety checks [2] - Staff members provided personalized support, such as helping elderly customers with mobile phone settings and guiding them through complex processes [2] Group 2: Network Services and Special Programs - The event focused on addressing common network issues during peak usage times, offering free network diagnostics and speed recommendations [3] - A special window for military personnel was established to provide priority service and exclusive package discounts, enhancing their shopping experience [3] Group 3: Customer Benefits and Promotions - The "Warm Winter Return Season" includes a promotion where customers can enjoy high-speed internet and receive significant discounts on electronic products by prepaying for broadband services [4] - Customers reported substantial savings when combining broadband services with shopping benefits, highlighting the value of the promotional offerings [4] Group 4: Commitment to Service - Beijing Unicom emphasizes a "people-first" philosophy, prioritizing user needs and ensuring efficient and warm communication services to meet diverse and high-quality demands [6]

齐鲁晚报·齐鲁壹点 褚思雨 数字赋能聚合力 托育事业的高质量发展，离不开系统完备的顶层设计与多方联动的推进机制。济宁市坚持政府引导、国 企领办、社会参与、市县一体的发展路径，建立市卫生健康委牵头，发改、教育、人社、市场监管等多 部门协同、市县乡三级联动的工作体系，形成上下贯通、齐抓共管的工作格局。先后出台《济宁市托育 机构设置标准》等配套文件，构建起涵盖规划建设、普惠收费、人才培养、助企纾困等 10大类28项"真 金白银"的政策体系，为托育事业发展保驾护航。 走进济宁市托育综合服务中心三楼的指挥调度室，一块巨大的电子屏上数据实时流转、画面清晰鲜活， 济宁市托育智慧管理云平台正以"智慧中枢"之姿，支撑全市托育服务高效运转。在这里，工作人员可一 键调阅全市托育服务政策、精准查询托育机构分布地图，910个托育园所的实时监控画面更是随点随 现，实现监管视野全覆盖。 "我们联合市卫健部门为全市的托育机构，打造了'一网六平台'的专属信息化系统，'一网'为托育门户网 站，涵盖信息公示、托育地图等特色板块，能够查看托育机构基本信息；'六平台'分别聚焦政府管理、 机构运营、家长服务、质量评估、幼儿健康、从业培训六大核心功能，实 ...

Group 1 - The Federal Reserve announced a 25 basis point interest rate cut, lowering the target range to 3.50%-3.75%, aligning with market expectations for a "hawkish cut" [1] - Following the Fed's decision, US stocks rose collectively, and Hong Kong's three major indices opened higher, with the Hang Seng Index up 0.66%, the National Index up 0.58%, and the Hang Seng Tech Index up 0.55% [1] - The cut in interest rates is expected to improve liquidity and profit expectations, potentially leading to a new upward cycle for Hong Kong stocks, supported by southbound capital and policy benefits [1] Group 2 - Consumption is expected to see a slight recovery in 2025, with a continuation of moderate growth in 2026 characterized by slower overall demand growth and a shift towards more rational consumption and higher demand tiers [2] - The market is anticipated to gradually establish a new balance focused on consumer demand, emphasizing the importance of improving operational efficiency [2] Group 3 - Notable investment targets include the Hang Seng ETF (159920), Hang Seng Tech Index ETF (513180), Hong Kong Consumption ETF (513230), Hang Seng Pharmaceutical ETF (159892), and Hang Seng Internet ETF (513330) [3]

Core Viewpoint - The Federal Reserve announced a 25 basis point interest rate cut and indicated a pause on further rate cuts in the near future, leading to a collective rise in U.S. stock markets [1] Group 1: Market Reactions - U.S. stock markets experienced a collective increase following the Fed's announcement [1] - Hong Kong's three major indices opened higher, with the Hang Seng Index rising by 0.66%, the National Index by 0.58%, and the Hang Seng Tech Index by 0.55% [1] Group 2: Sector Performance - Major technology stocks in Hong Kong saw a general increase, with Alibaba, NetEase, Kuaishou, and Tencent each rising by 1% [1] - Precious metals continued to perform strongly, with silver prices reaching new highs, while gold and copper stocks also remained robust [1] - Broader sectors such as Apple-related stocks, airline stocks, and insurance stocks experienced widespread gains [1] Group 3: Underperforming Stocks - Gaming and telecommunications stocks faced declines, with ZTE Corporation dropping nearly 3% [1]