Core Insights - The 15th National Games is being held in the Guangdong-Hong Kong-Macao Greater Bay Area, utilizing 88 competitive venues and 50 mass venues across 19 cities, with a high-speed rail network facilitating transportation for attendees [1][2] - Huawei has assisted Guangdong Mobile in creating the first 5G-A high-speed rail private network in the country, enhancing passenger experience with dynamic acceleration for 26 mainstream apps, enabling seamless 4K video streaming and video conferencing [1][2] - The 5G-A network, an upgraded version of traditional 5G, significantly improves speed, latency, connection scale, and application scenarios, supporting high concurrency demands during large events [2][3] Group 1 - Guangdong Mobile's 5G-A commercial network can support tens of thousands of concurrent users, providing a secure, high-speed, and stable wireless experience for event attendees [2] - The opening ceremony of the National Games saw a complex communication environment, where Guangdong Mobile utilized 5G-A technology to enable instant sharing of videos and images by thousands of spectators [2] - The event featured the world's first 5G-A intelligent robot torchbearer, demonstrating the network's capability to meet high reliability, speed, and low latency requirements in complex environments [2] Group 2 - The men's singles badminton final at the National Games utilized 5G-A technology for high-standard live broadcast support, allowing real-time audience interaction through multi-angle displays [3] - Guangdong Mobile and Huawei have achieved extensive 5G-A coverage across multiple cities in the Greater Bay Area, including high-speed rail, subways, venues, and business halls, creating a comprehensive urban network to meet various high-speed internet needs [3]

Market Overview - On November 20, the communication services sector rose by 0.57% compared to the previous trading day, with Yitong Century leading the gains [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Stock Performance - Yitong Century (300310) closed at 6.37, up 5.99% with a trading volume of 880,900 shares and a transaction value of 556 million [1] - ST Tongmai (603559) closed at 60.8, up 5.06% with a trading volume of 33,900 shares [1] - Chaoxun Communication (603322) closed at 48.45, up 3.15% with a trading volume of 118,900 shares and a transaction value of 569 million [1] - Other notable gainers include Jingtong Holdings (300292) and Huichang Communication (300578), with increases of 3.02% and 2.92% respectively [1] Fund Flow Analysis - The communication services sector saw a net inflow of 55.01 million from institutional investors, while retail investors contributed a net inflow of 157 million [2] - However, speculative funds experienced a net outflow of 212 million [2] Individual Stock Fund Flow - China Unicom (600050) had a net inflow of 217 million from institutional investors, but a net outflow of 107 million from speculative funds [3] - Yitong Century (300310) saw a net inflow of 108 million from institutional investors, with a significant net outflow from retail investors amounting to 97.79 million [3] - Aofei Data (300738) experienced a net inflow of 10.2 million from institutional investors, while retail investors had a net outflow of 65.31 million [3]

数字筑基：精品网络织就城市脉络 近年来，济南联通稳步推进覆盖全市的5G精品网与千兆光网建设，以光纤传输网络和通信基站为核心 载体，构建贯通城市各区域的"信息高速公路"，为加快数据要素流通、促进产业转型向创新驱动转型升 级构筑数字基座。 在培育新质生产力的道路上，济南联通凭借技术积累与网络建设能力，为前沿产业提供高速、稳定、低 延迟的数据传输服务。人工智能实验室里，科研人员依托济南联通提供的优质算力获取海量数据资源， 进行大模型训练与算法研发，有效克服以往因数据传输延迟、稳定性不足导致的研究瓶颈，成功推动人 工智能技术在医疗诊断、交通调度、教育资源共享等领域的落地应用。 在城市公共事件应对中，济南联通搭建的通信网络同样发挥重要作用。以2025济南（泉城）马拉松为 例，该体育赛事吸引到3万余名选手与海量观众，瞬时通信需求大幅增长。面对这一考验，济南联通提 前谋划、精准施策，实现42.195公里赛道沿线5G网络全覆盖，确保赛事现场监控画面实时传输、参赛人 员与外界通信畅通，整场赛事实现网络运行零中断、零卡顿。10月11—18日，济南市第一届运动会举 办，赛事覆盖6大赛区、23个竞赛项目，超5000名运动员参赛，观众 ...

Core Insights - The U.S. job market, previously stable with low unemployment rates, is now facing potential shifts as major companies like Amazon, Verizon, and Target announce layoffs, raising concerns about the transition from a "no hiring, no layoffs" environment to one that includes layoffs [1][2] Group 1: Employment Trends - The official unemployment report, covering September data, is expected to reflect conditions before the surge in layoff announcements, with October being noted as the worst month for planned layoffs since 2003 according to Challenger, Gray & Christmas [1] - WARN notices, which companies must issue before large-scale layoffs, surged to 39,006 in September across 21 states, marking one of the highest levels since records began in 2006 [1] - Despite a previously stable job market, the increase in layoffs raises questions about the future dynamics of employment, especially as job creation becomes scarce [1][2] Group 2: Federal Reserve Concerns - Federal Reserve officials are increasingly concerned about the shift in labor market dynamics, with discussions around layoffs becoming more prevalent among businesses [2] - Richmond Fed President Barkin noted that while companies describe the labor market as "balanced," there is a significant number of qualified applicants for each job opening, indicating potential oversupply in the labor market [2] - Economic professor Robert Shimer suggests that existing private data indicates very slow or flat growth in the labor market, supporting the notion of a stagnant hiring environment [2][3] Group 3: Future Outlook - There is speculation that upcoming reports may reveal an increase in layoffs and changes in hiring conditions, although large-scale layoff announcements typically result in only minor fluctuations in the overall layoff rate [3] - Shimer's research indicates that the lack of hiring, rather than a spike in layoffs, primarily drives fluctuations in unemployment rates [4] - The Department of Labor is set to release a report on job vacancies and layoffs for October on December 9, with a comprehensive employment report expected later [5]

Core Insights - The 2Africa submarine cable system, constructed by China Mobile International Limited (CMI) in collaboration with multiple international partners, has been successfully completed, enhancing CMI's global submarine cable layout and international communication resources [1][4]. Group 1: Project Overview - The 2Africa cable is the first to continuously connect the east and west coasts of Africa within the same system, featuring an open access model, with a total length exceeding 45,000 kilometers and a designed total capacity of 180 Tbps [4]. - The project is expected to contribute approximately $36.9 billion in comprehensive economic benefits to Africa [4]. Group 2: Strategic Importance - CMI plays a crucial role in the project as a co-chair of the 2Africa cable system engineering construction group, facilitating project management and multi-party collaboration [7]. - The completion of the 2Africa cable system will strengthen CMI's resource layout along the "Belt and Road" initiative, enhancing connectivity between the Arabian Sea region, the east and west coasts of Africa, and Europe [7]. Group 3: Technological and Economic Impact - The 2Africa cable leverages "high bandwidth and low latency" technology, synergizing with CMI's existing global resources, including over 100 submarine and terrestrial cables, 380+ Points of Presence (PoPs), and more than 1,270 data centers [10]. - The project aims to provide high-quality international dedicated lines, cloud dedicated lines, and interconnectivity services to global operators, while also offering integrated AI and cloud network solutions for Chinese enterprises and local partners in Africa and the Middle East [10]. Group 4: Future Prospects - CMI's decade-long presence in the African market will be further enriched by the 2Africa cable, promoting local employment, reducing the digital divide, and enhancing communication services in education, healthcare, and finance sectors [10]. - The company will continue to actively respond to the "Belt and Road" initiative, accelerating the establishment of new information infrastructure and service systems in Africa, contributing to the digital economy's robust development [10].

Core Insights - Empathy is essential in the workplace, fostering deeper relationships and enhancing employee morale, trust, and performance [1][2] - A global survey sponsored by Zurich Insurance revealed that most customers desire empathy from companies, yet many companies fail to deliver it [2][3] Group 1: Importance of Empathy - Empathetic leaders create more engaged and loyal teams, leading to improved employee well-being and performance [1][2] - 79% of surveyed customers prioritize a brand's ability to show empathy during interactions, ranking it higher than online reviews (73%) and recommendations from friends (64%) [2] - 61% of customers are willing to pay more for brands that demonstrate empathy [2] Group 2: The Empathy Gap - 78% of customers feel that companies do not genuinely care about them, and over 40% have switched brands due to a lack of empathy [2][3] - The rise of AI in customer interactions may exacerbate this gap, with over 70% of respondents doubting the empathetic capabilities of chatbots [2][3] Group 3: Strategies for Enhancing Empathy - Companies should integrate empathy into their organizational structure, supported by data and leadership commitment [6][7] - Cleveland Clinic's transformation under CEO Toby Cosgrove illustrates the importance of prioritizing patient experience and empathy [4][5] Group 4: Employee Training and Development - Cleveland Clinic's empathy training for all 43,000 employees significantly improved patient satisfaction, moving from the middle of the industry to the top 10% [7] - Zurich Insurance has trained nearly a quarter of its global workforce in empathy skills, resulting in a 7-point increase in customer net promoter scores [8] Group 5: Combining AI with Human Touch - Companies can enhance customer experiences by using AI for efficiency while ensuring human agents handle emotionally sensitive interactions [9] - Vodafone's approach of transitioning complex customer queries from AI to trained human agents exemplifies this strategy [9]

Core Insights - Anhui Huangshan Scenic Area has initiated a comprehensive digital transformation, achieving full 5G-A network coverage across core attractions, enhancing network speed by 3 to 5 times, with peak download rates reaching up to 3 Gbps [2] Group 1: Low-altitude Economy - The scenic area has transitioned from a traditional "cableway + manpower" logistics model to a drone-based delivery system, addressing the challenges posed by an aging workforce and insufficient transport capacity [4] - A fixed 3.2 km drone route was established for regular transport, allowing drones to complete round trips in just 17 minutes, effectively transporting 2,268.77 tons of various goods from May 2023 to October 2025 [4] - The drone operations are independent of tourist pathways, ensuring safety and minimizing ecological disruption, thus creating a green transport system [4] Group 2: Tourism Live Streaming - Since launching its first official live streaming channel in 2020, Huangshan Scenic Area has developed a unique tourism IP through "tour guide live streaming," with hundreds of guides broadcasting daily [6] - The 5G-A network enables a stable, high-speed communication system that overcomes signal attenuation issues, providing an immersive and personalized online experience for visitors [6] Group 3: Resource Protection - The scenic area employs a smart fire prevention system powered by the 5G-A network, utilizing AI for real-time monitoring and early warning of forest fires, maintaining a 46-year record without forest fires [7] - This integration of technology and ecological protection exemplifies a successful model for safeguarding the area's authenticity and integrity [7] Group 4: Broader Applications - Beyond Huangshan, the 5G-A network is enhancing other cultural tourism sites, such as Hongcun, where a smart management platform has been established to oversee security, traffic, and visitor flow [9] - In Lingshan Village, digital infrastructure is driving local entrepreneurship, with traditional industries experiencing rapid growth, showcasing the potential of digital technology in rural revitalization [9] - The collaboration between China Telecom Anhui and Huawei highlights the transformative role of 5G-A technology in activating low-altitude economies, reshaping tourism experiences, and protecting natural resources [9]

具体来看，今日上榜的营业部中，共有3家机构专用席位现身，即买一、买二、卖三，合计买入金额 7715.25万元，卖出金额4227.88万元，合计净买入3487.37万元。 资金流向方面，今日该股主力资金净流入750.52万元，其中，特大单净流出183.66万元，大单资金净流 入934.18万元。近5日主力资金净流入1354.40万元。（数据宝） 中富通今日上涨5.00%，全天换手率45.77%，成交额18.62亿元，振幅18.38%。龙虎榜数据显示，机构净 买入3487.37万元，营业部席位合计净卖出4765.78万元。 深交所公开信息显示，当日该股因日换手率达45.77%上榜，机构专用席位净买入3487.37万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交2.95亿元，其中，买入成交额为1.41亿 元，卖出成交额为1.54亿元，合计净卖出1278.40万元。 （文章来源：证券时报网） 中富通11月19日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 机构专用 ...

Core Viewpoint - The communication services sector experienced a decline of 0.31% on November 19, with Sanwei Communication leading the drop. The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1]. Group 1: Market Performance - The communication services sector saw a net outflow of 1.077 billion yuan from major funds, while retail investors contributed a net inflow of 978 million yuan [2][3]. - Major stocks in the communication services sector showed mixed performance, with Zhongfutong rising by 5.00% to close at 22.91 yuan, while Sanwei Communication fell by 6.32% to 10.97 yuan [1][2]. Group 2: Stock Details - Zhongfutong had a trading volume of 855,700 shares and a transaction value of 1.862 billion yuan [1]. - Sanwei Communication recorded a trading volume of 1,094,100 shares, with a transaction value of 1.227 billion yuan [2]. - Other notable stocks included China Telecom, which rose by 0.74% to 6.80 yuan, and China Unicom, which increased by 0.19% to 5.41 yuan [1].

钛媒体App 11月19日消息，美国里士满联储主席巴尔金对通胀前景表示乐观，同时指出劳动力市场可能 比现有数据显示的更疲软。巴尔金强调，新增就业与招聘职位数量下降，加之失业救济申领数据基本持 平，表明就业市场趋缓。"我们的调研表明，劳动力市场可能比这些数字反映的更弱，"巴尔金在周二于 弗吉尼亚州温彻斯特发表的讲话中表示。"如果你问企业如今如何看待劳动力市场，他们会说'平衡'。 但当他们进一步解释这种'平衡'时，情况似乎并非如此。"巴尔金提到，亚马逊、Verizon和Target等大型 企业近期的裁员公告"让人对劳动力市场更加谨慎"。他还表示，企业联系人对里士满联储的反馈让他认 为，"通胀仍略高，但不太可能大幅上升"。在会后接受采访时，巴尔金表示他同意美联储主席鲍威尔关 于12月是否降息"远未成定局"的说法。（广角观察） ...