智能网联系统方面，《意见》提出，支撑构建低空智能网联系统。发挥信息通信业能力资源和基础设施 优势，充分利用物联网、人工智能、云计算、大数据等新一代信息技术，提供低空智能网联系统建设解 决方案。鼓励基础电信企业与空管等部门加强需求对接，支撑低空交通管理服务相关数字化系统开发。 结合低空经济发展需求，完善算力基础设施供给体系，推动公共算力互联互通，为低空管理服务提供灵 活高效的算力支撑。 另外，《意见》围绕加强信息通信业能力建设，提出组织开展试验验证、提升产业供给能力、推动集约 协同与标准化建设、规范行业管理、强化网络和数据安全保障、优化频率供给等6方面具体举措。 开展试验验证方面，《意见》提出，根据特定需求，组织基础电信企业基于实际运行网络环境和应用场 景，加强空地协同组网、干扰协调、装备融合等低空通信关键技术研究验证，提升5G-A通感融合多站 协同、多目标识别等低空感知能力，开展融合感知算法研究和方案验证，探索形成可复制推广的技术产 品、网络建设和运行管理方案。通过"绽放杯"大赛、案例征集等方式，深入挖掘并发布一批信息类基础 设施建设应用典型案例，树立示范标杆。 21世纪经济报道记者冉黎黎 北京报道 2月10 ...

中国加强信息通信业能力建设 支撑低空基础设施发展 中新社北京2月10日电 (记者 刘亮)中国工业和信息化部等五部门10日发布的《关于加强信息通信业能力 建设 支撑低空基础设施发展的实施意见》(简称：实施意见)提出，到2027年，全国低空公共航路地面移 动通信网络覆盖率不低于90%。 实施意见指出，低空基础设施是低空经济发展的重要底座。信息通信业具备丰富的网络资源和综合信息 服务能力，能有效支撑低空通信、监视、导航、智能网联系统等信息类基础设施建设发展，对于促进低 空经济健康有序发展、培育新质生产力具有重要意义。 实施意见提到，以有条件、有需求的低空飞行活动区域为重点，因地制宜推动信息类基础设施建设与低 空应用协同发展。到2027年，全国低空公共航路地面移动通信网络覆盖率不低于90%，多元融合感知方 案进一步完善成熟，低空导航服务水平持续提升，研制不少于10项信息类基础设施标准，面向城市治 理、物流运输、文旅等领域形成一批典型低空应用场景。 实施意见还在支撑构建低空智能网联系统、提升产业供给能力、规范行业管理、优化频率供给等方面作 出部署。(完) 来源：中国新闻网 编辑：张澍楠 广告等商务合作，请点击这里 本文 ...

Core Viewpoint - The company is actively expanding its market presence and developing related technology products in the quantum communication field, having secured multiple projects with a key client [2] Group 1: Project Developments - In 2023, the company won the "ZB Quantum Secret Communication Experiment Project Voice Gateway" from China Telecom Quantum Technology Co., Ltd [2] - In 2024, the company has again secured a project with the same client for the "Quantum Secret Communication VV Intercommunication (Transcoding Gateway Development)" [2] Group 2: Product Focus - The company's products and services in the quantum communication sector primarily focus on critical gateway devices within quantum secure communication networks [2] - The company is committed to actively monitoring the evolution of quantum communication technology and industry standards to continuously enhance its product matrix [2]

沪港通（南向）十大活跃成交公司 智通财经APP获悉，2026年2月10日当天，腾讯控股(00700)、阿里巴巴-W(09988)、长飞光纤光缆 (06869)位居沪港通（南向）成交额前3位，成交额分别为52.29 亿元、26.52 亿元、20.61 亿元；腾讯控 股(00700)、阿里巴巴-W(09988)、长飞光纤光缆(06869) 位居深港通（南向）成交额前3位，成交额分别 为42.37 亿元、21.69 亿元、12.08 亿元。 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 腾讯控股(00700) | 42.37 亿元 | -6.49 亿元 | | 阿里巴巴-W(09988) | 21.69 亿元 | -2.70 亿元 | | 长飞光纤光缆(06869) | 12.08 亿元 | +4.08 亿元 | | 中芯国际(00981) | 11.61 亿元 | -1.74 亿元 | | 泡泡玛特(09992) | 11.07 亿元 | -1.51 亿元 | | 美团-W(03690) | 10.28 亿元 | +1.83 亿元 | | 快手-W(01024) | 9 ...

Core Viewpoint - The article discusses the implementation opinions released by five departments in China regarding the development of low-altitude infrastructure, emphasizing the importance of information and communication technology in supporting the low-altitude economy [1][2]. Group 1: Implementation Opinions Overview - The implementation opinions highlight that low-altitude infrastructure is a crucial foundation for the development of the low-altitude economy, with the information and communication industry possessing rich network resources and comprehensive information service capabilities [2]. - The opinions outline ten key tasks aimed at enhancing the construction of information-based infrastructure to support low-altitude applications and services [7]. Group 2: Key Tasks - The ten key tasks include advancing communication network coverage for low-altitude scenarios, exploring multi-source detection and collaborative service capabilities, and enhancing navigation precision service levels [7]. - Specific measures include utilizing existing 5G networks to improve coverage in low-altitude flight routes and hotspots, and encouraging telecom companies to collaborate with relevant departments to meet the demands of low-altitude applications [7][8]. Group 3: Goals and Standards - By 2027, the goal is to achieve a ground mobile communication network coverage rate of no less than 90% for low-altitude public air routes, with further improvements in multi-source perception solutions and navigation service levels [6]. - The implementation opinions also call for the development of at least ten standards for information-based infrastructure, targeting urban governance, logistics, and cultural tourism sectors [6]. Group 4: Technological Integration - The opinions stress the importance of integrating new technologies such as IoT, AI, cloud computing, and big data to build a low-altitude intelligent network system [8]. - There is a focus on enhancing the supply capacity of the industry by promoting the development of 5G-A technology and reducing equipment costs through innovation [8]. Group 5: Frequency Resource Planning - The implementation opinions propose conducting research on low-altitude radio frequency resource planning and developing guidelines for the utilization and technological innovation of these frequencies [9]. - It emphasizes the need for regulatory compliance in the management of low-altitude infrastructure-related radio frequencies and monitoring [9].

Core Viewpoint - The implementation opinion aims to enhance the capabilities of the information and communication industry to support the development of low-altitude infrastructure, focusing on technology, industry supply, network support, and security assurance [1][2]. Group 1: Infrastructure Development - The opinion emphasizes the need to improve technical capabilities, industry supply capacity, network support, and security assurance in the information and communication sector [1]. - It advocates for a collaborative development of information infrastructure and low-altitude applications, focusing on areas with specific needs for low-altitude flight activities [2]. - By 2027, the goal is to achieve a ground mobile communication network coverage rate of no less than 90% for low-altitude public air routes [2]. Group 2: Technology and Innovation - The implementation opinion calls for the use of existing 5G mobile communication infrastructure to enhance low-altitude communication network coverage, particularly in areas below 300 meters [3]. - It encourages the integration of new information technologies such as IoT, AI, cloud computing, and big data to provide solutions for low-altitude intelligent network construction [3]. - The development of 5G-A industry is prioritized to upgrade existing ground station functionalities and reduce equipment costs [3]. Group 3: Organizational Support - The opinion stresses the importance of inter-departmental collaboration and provincial coordination to ensure the effective implementation of network deployment, technical capability enhancement, and application scenario cultivation [4]. - It highlights the need for diverse funding channels to support key technology breakthroughs, equipment development, and application growth in information infrastructure [4]. - Local governments are encouraged to increase support for the construction of information infrastructure, industry development, application promotion, and security assurance [4].

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The report focuses on constructing multiple ETF portfolios, including macro industry, macro + momentum industry, core - satellite, and trinity style rotation portfolios, aiming to find better investment opportunities by combining macro factors, momentum factors, and style rotation [4][5]. - Different industries have different sensitivities to economic, liquidity, and credit factors. For example, traditional cycle industries are sensitive to the economy, TMT is sensitive to liquidity, and consumption is sensitive to credit [4]. 3. Summary According to Relevant Catalogs 3.1 ETF Portfolio Construction Methods 3.1.1 Based on Macro Method - Calculate macro - sensitivities of broad - based, industry - themed, and Smart Beta ETFs based on economic, liquidity, and credit variables. Combine with momentum indicators for complementary analysis [4]. - Traditional cycle industries are suitable for economic up - periods, TMT for weak - economy but loose - liquidity periods, and consumption for credit - expansion periods. State - owned enterprises and ESG - related themes have low sensitivities to liquidity and credit [4]. - Construct three ETF portfolios (macro industry, macro + momentum industry, and core - satellite) and adjust positions monthly [4]. 3.1.2 Trinity Style Rotation ETF Portfolio Construction - Build a medium - to - long - term style rotation model centered on macro - liquidity, and compare it with the CSI 300 index [5]. - Construct three types of models (growth/value rotation, market - cap, and quality models) by screening macro, fundamental, and market - sentiment factors. The model has 8 style - preference results [5]. - Select ETFs with high exposure to the target style, control industry exposure, and set allocation limits to get the final ETF allocation model [5]. 3.2 Macro Industry Portfolio - Select industry - themed ETFs with over 1 - year establishment and over 200 million current scale. Calculate sensitivity scores of economic, liquidity, and credit factors monthly, adjust scores according to the latest indicators, and sum them up. If liquidity and credit deviate significantly, remove the liquidity score. Select the top 6 industry - themed indices and corresponding largest - scale ETFs for equal - weight allocation [6][7]. - Currently, with falling economic leading indicators, loose liquidity, and tightened credit, the portfolio is biased towards TMT and consumption. The February positions are shown in Table 1 [8]. - The portfolio has large fluctuations and outperformed the benchmark significantly in January [11]. 3.3 Macro + Momentum Industry Portfolio - Combine macro and momentum methods to address the left - side nature of macro - based strategies (low win - rate but high odds). Use clustering to group industry - themed indices and select the highest - rising product in each group in the past 6 months for equal - weight allocation [12]. - The momentum - selected industries still have a high proportion of cyclical industries. The February positions are shown in Table 3 [16]. - The portfolio has performed well this year and outperformed the CSI 300 significantly in January [17]. 3.4 Core - Satellite Portfolio - Design a "core - satellite" portfolio with the CSI 300 as the core to address the high volatility and rapid industry rotation of industry - themed ETFs [19]. - Calculate macro - sensitivities for broad - based, industry - themed, and Smart Beta ETFs, construct three stock portfolios, and weight them at 50%, 30%, and 20% respectively [19]. - The current allocation of broad - based ETFs is biased towards the Sci - tech Innovation Board and the ChiNext. The portfolio has performed stably, outperforming the benchmark in most months except December, and had significant excess returns in January 2026 [23][24]. 3.5 Trinity Style Rotation ETF Portfolio - The model currently favors the small - cap growth - high - quality segment. The factor exposures and historical performance are shown in Table 7 [26]. - The February positions are shown in Table 9 [31]. - The portfolio has achieved certain excess returns, especially in some months such as August 2025 and January 2026 [29].

Core Viewpoint - The article discusses the implementation opinions released by the Ministry of Industry and Information Technology and other departments to strengthen the information and communication industry's capacity to support the development of low-altitude infrastructure, which is crucial for the growth of the low-altitude economy [2][4]. Summary by Sections Overall Requirements - The initiative aims to enhance the technical foundation, industrial supply capacity, network support capability, and security assurance of the information and communication industry, facilitating the construction of low-altitude communication networks and intelligent network systems [7][8]. Key Tasks - The implementation opinions outline several key tasks, including: - Promoting low-altitude communication network coverage based on demand, particularly in areas below 300 meters, utilizing existing 5G infrastructure and optimizing network capabilities [9]. - Exploring multi-source detection capabilities for monitoring critical areas and enhancing navigation precision using the Beidou system and 5G networks [10]. - Supporting the construction of low-altitude intelligent network systems by leveraging new information technologies such as IoT, AI, and big data [10]. - Conducting experimental validations to improve low-altitude communication technologies and develop replicable solutions [11]. - Enhancing industrial supply capabilities by advancing 5G-A technology and reducing equipment costs [11]. - Promoting collaborative and standardized construction of low-altitude infrastructure [11]. - Establishing regulatory frameworks for telecommunications services and ensuring data security [12]. Organizational Support - The implementation opinions emphasize the need for inter-departmental collaboration and local government involvement to ensure the effective deployment of networks, technology enhancement, and safety measures [13].

格隆汇2月10日丨康希通信(688653.SH)在投资者互动平台表示，超宽带（UWB）技术是一种基于纳秒 级窄脉冲的无线通信技术，具有厘米级定位精度、高速数据传输、低功耗和强抗干扰能力等核心优势， 广泛应用于室内定位、智能交通、物联网及雷达探测等领域。据AIoT星图研究院数据显示，中国UWB 市场规模增长势头迅猛，预计2026年市场产值将超100亿元，2028年有望达到200亿元左右，整体保持高 速增长态势，行业发展潜力巨大。公司目前已布局多款具备市场前景的超宽带产品，正联合被投企业协 同推进超宽带（UWB）相关产品的研发工作，市场化推广稳步推进中，2026年有望给公司带来相关收 入贡献。 ...

Core Viewpoint - The implementation opinion released by the Ministry of Industry and Information Technology and other departments aims to strengthen the capacity of the information and communication industry to support the development of low-altitude infrastructure, emphasizing the importance of enhancing industrial supply capabilities and promoting the development of 5G-A technology [1][10]. Overall Requirements - The initiative is guided by Xi Jinping's thoughts and aims to enhance the technical foundation, industrial supply capacity, network support capability, and security assurance of the information and communication industry while promoting the construction of low-altitude communication networks [3][12]. - By 2027, the goal is to achieve a ground mobile communication network coverage rate of no less than 90% for low-altitude public air routes, improve multi-sensor integration solutions, and enhance navigation service levels [4][13]. Key Tasks - **Low-altitude Communication Network Coverage**: Focus on areas below 300 meters, utilizing existing 5G infrastructure and optimizing network coverage through various methods [5][14]. - **Multi-Detection Collaborative Service Capability**: Enhance detection and monitoring capabilities in key areas such as military facilities and large events, improving the ability to track low-altitude aircraft [6][15]. - **Navigation Precision Services**: Utilize the BeiDou ground enhancement system to improve the positioning speed and accuracy of low-altitude aircraft [6][15]. - **Low-altitude Intelligent Network System**: Leverage new information technologies like IoT and AI to support the development of low-altitude traffic management systems [7][16]. - **Trial Verification**: Conduct research and validation on key technologies for low-altitude communication, aiming to develop replicable solutions [7][16]. Industry Supply Capacity - The initiative promotes the development of the 5G-A industry, upgrades existing ground station functionalities, and accelerates the maturity of sensor fusion technologies while gradually reducing equipment costs [7][16]. Collaborative and Standardization Efforts - The plan encourages the sharing and collaborative construction of low-altitude infrastructure, supporting the establishment of a standard system for low-altitude technology industry development [8][17]. Regulatory Management - The initiative includes research on regulatory frameworks for telecommunications business access, equipment management, and emergency communication, aiming to enhance the management of drone communication resources [8][17]. Network and Data Security - A security assurance system for information infrastructure will be explored, focusing on network security and data protection measures [8][17]. Frequency Supply Optimization - Research will be conducted on low-altitude radio frequency resource planning to support the development of low-altitude communication and aircraft operations [8][17]. Organizational Assurance - Strengthening inter-departmental collaboration and local government coordination is essential for the successful implementation of the initiative, with a focus on funding and support for infrastructure development [9][18].