Core Viewpoint - 2025 is identified as a crucial year for accelerating the construction of a modern industrial system, enhancing the vitality and resilience of industrial and supply chains, and promoting the quality and expansion of consumption [1] Group 1: Industrial Chain Renewal - China Telecom's Yipay is set to further undertake responsibilities in modern industrial chain construction, transitioning from basic payment to digital consumption and data operations through ecological co-construction and scenario integration [1][2] - The "Modern Industrial Chain Renewal Co-Chain Action and Digital Consumption Rights Ecological Alliance" was launched during the "Smart Technology Ecological Conference," gathering over 400 partners to discuss new measures and achievements [2] Group 2: Digital Consumption Ecosystem - Yipay has created the "Lingze" digital consumption ecosystem platform, connecting over 70 central state-owned enterprises and 200 leading brands, effectively releasing business growth potential [3] - The platform offers a one-stop 24-hour unmanned retail solution that can help merchants reduce operational costs by over 35% [3] Group 3: Data Operations - Yipay has developed the "Yufeng" intelligent regulatory platform using big data and AI to address traditional management issues, enabling real-time monitoring and intelligent warnings for liquidity, credit, and operational risks [4] - The platform has been successfully applied in over 30 central state-owned enterprises and recognized as a high-value scenario for AI by the State-owned Assets Supervision and Administration Commission [4] Group 4: Financial Management Solutions - Yipay launched the "Chenji" financial digital system in collaboration with China Telecom Financial Company, achieving 100% domestic production across its technology stack and supporting high concurrency payment capabilities [5] Group 5: AI Technology Development - Yipay has established the Insight AI platform, which integrates various AI capabilities and has undergone significant upgrades to enhance its service offerings [7] - The second-generation inference acceleration architecture, Talon, has achieved a speed increase of 6.52 times while reducing costs to one-sixth, marking a significant breakthrough in AI technology [8] Group 6: Security and Compliance - Yipay has built a comprehensive security system that includes technical, compliance, and ecological safety to protect user rights and ensure stable operations [14] - The "Yufeng" regulatory system adheres to national financial regulations and integrates compliance requirements into business processes [14] Group 7: Future Outlook - Yipay aims to continue deepening the integration of AI technology with payment ecosystems, expand multi-modal applications, and strengthen technological innovation to support high-quality development in the modern industrial chain [15]

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) of the State Council is conducting research on enhancing the penetrating supervision of state-owned enterprises, with China Telecom's Yipay participating as a key support unit, showcasing its capabilities in digital technology for intelligent regulatory transformation [1][2]. Group 1: Research and Development - China Telecom's Yipay has formed a specialized research team that integrates data, technology, and business fields to support the development of a penetrating supervision system [2]. - The research focuses on two main directions: "system construction" and "data responsibility," aiming to create a systematic implementation plan for intelligent penetrating supervision [2]. Group 2: Implementation Pathway - The "Yufeng" platform is developed based on research and practice, featuring a six-step implementation path that includes organizational support, top-level design, infrastructure preparation, data foundation construction, model platform development, and operational supervision [3]. - The platform aims to address governance challenges by providing a real-time, automated warning system for penetrating supervision [3]. Group 3: Technological Capabilities - The "Yufeng" platform operates on a data-driven, risk-insight, and intelligent supervision philosophy, featuring a core architecture that enables comprehensive risk visibility and intelligent early warning [5]. - It has the capacity to process EB-level massive data, integrating over 300 million business entities and more than 2 billion relational data points, significantly enhancing model inference speed by up to 6.5 times [5]. Group 4: Practical Outcomes and Recognition - The "Yufeng" platform has received multiple authoritative recognitions, including being selected as a high-value scenario for artificial intelligence by SASAC and winning the Wu Wenjun Artificial Intelligence Science and Technology Progress Award [6]. - The platform has effectively improved risk prevention capabilities for over 30 central enterprises, addressing key risk scenarios such as illegal affiliations and false trade [6].

Core Insights - The 2025 (3rd) Enterprise-Local Cooperation Forum was successfully held in Beijing, focusing on the theme of "14th Five-Year Plan" industrial chain collaborative innovation development, aiming to explore pathways for high-quality development in the new era [1] Group 1: Event Overview - The forum was guided by the State-owned Assets Supervision and Administration Commission and organized by the China Enterprise Reform and Development Research Association [1] - The results of the "2025 Central Enterprise Industrial Chain Innovation Development Excellent Case" evaluation were officially announced, with China Telecom's Tianyi Payment Technology Co., Ltd. recognized for its "Yufeng" intelligent penetration regulatory platform [3] Group 2: Company Developments - Since being approved as the chain leader of the modern mobile payment industry in 2023, China Telecom has actively promoted industrial integration and collaborative development through Tianyi Payment [5] - The award signifies a major practical breakthrough in data operation, transforming accumulated payment data and technological capabilities into core competencies for empowering state-owned enterprises' governance modernization and preventing systemic risks [6] Group 3: Platform Features - The "Yufeng" platform aims to achieve intelligent penetration regulation across all levels, chains, processes, and elements, addressing traditional regulatory challenges such as "data silos" and "hidden risks" [6] - The platform features a core application framework of "one screen and three centers," providing a visual decision-making interface that integrates risk panoramic perspective, intelligent monitoring and early warning, and collaborative dispatching [7] - It processes EB-level massive data, integrating over 300 million business entities and more than 2 billion relationship data, with self-developed Talon inference acceleration technology enhancing model inference speed by up to 6.5 times [7] Group 4: Impact and Future Plans - The "Yufeng" platform has been implemented in over 30 central enterprises, significantly improving proactive, precise, and collaborative risk prevention efficiency [7] - The recognition of this case not only affirms the practical achievements of the "Yufeng" platform but also acknowledges China Telecom's successful establishment of a new track in data operation, contributing to industrial safety and governance modernization [8] - Looking ahead to the "14th Five-Year Plan," China Telecom's Tianyi Payment will continue to deepen technological innovation and ecological cooperation in data intelligence and risk prevention [8]

Group 1 - The core viewpoint of the news highlights significant growth in the cloud computing and robotics ETFs, with the Tianhong Cloud Computing ETF (517390) showing a notable increase in trading volume and market performance [1][3] - The Tianhong Cloud Computing ETF (517390) experienced a 3-month scale growth of 15.21 million yuan, indicating strong investor interest and market confidence [1] - The Tianhong Cloud Computing ETF tracks the CSI Hong Kong-Shenzhen Cloud Computing Industry Index (931470), which rose by 3.45%, with key stocks like Xinyi Technology (300502) and Zhongji Xuchuang (300308) showing substantial gains of 8.05% and 7.55% respectively [1] Group 2 - The Robotics ETF (159770) also demonstrated significant performance, with a trading volume of 333 million yuan and a net subscription of 43.5 million shares during the trading session [1][3] - Over the past week, the Robotics ETF (159770) saw a scale increase of 74.42 million yuan, and in the last month, it gained 23.6 million shares, reflecting strong demand [3] - The Robotics ETF closely follows the CSI Robotics Index (H30590), which rose by 0.97%, with notable stock performances from companies like Haimao Star (688559) and Jingye Intelligent (688290) [1][3] Group 3 - The news also mentions the launch of the "Yufeng" intelligent regulatory platform by Yipay at the Digital Intelligence Technology Ecological Conference, showcasing advancements in AI and cloud computing for risk management [5] - A joint venture between UBTECH and the Beijing Humanoid Robot Innovation Center established Tianyou Robotics Company, focusing on the humanoid robotics sector, with a registered capital of 10 million yuan [6] - CICC expresses optimism for technology growth investments in 2026, emphasizing opportunities in the mechanical industry driven by technological innovation and domestic demand recovery [6]

Group 1 - The core event was the successful hosting of the "Modern Industrial Chain Renewal and Upgrade Co-Chain Conference" and "AI + Smart Supervision Ecological Cooperation Forum" by China Telecom, aimed at showcasing the upgrade of modern industrial chains from basic payment to digital consumption and data operation [1] - Over 400 industry partners from digital consumption, smart supervision, and finance gathered to discuss new connotations, measures, and achievements of modern industrial chain upgrades [1] - China Telecom's Yipay launched the "Modern Industrial Chain Renewal Co-Chain Action and Digital Consumption Rights Ecological Alliance" during the conference, presenting a supply-demand list for the modern industrial chain [1][4] Group 2 - Since being approved as the chain leader of the mobile payment modern industrial chain in 2023, China Telecom has focused on promoting collaborative innovation and integrated development with Yipay as the core [2] - China Telecom is committed to building a robust digital information infrastructure, focusing on intelligent computing, data, and large models to support the national strategy and stimulate high-quality development [4] - The company aims to create a more open, inclusive, and resilient modern industrial chain through a platform that is self-controllable and connects state-owned enterprises [4] Group 3 - China Telecom's Yipay has established the "China Telecom Modern Industrial Chain Renewal Co-Chain Action and Digital Consumption Rights Ecological Alliance" with 15 industry partners to enhance the digital consumption ecosystem and stimulate economic growth [5] - The "Lingze" digital consumption ecosystem platform has been created to connect supply and demand effectively, currently linking over 70 state-owned enterprises and 200 leading brands [7] - The platform aims to provide services across various high-frequency consumption scenarios, enhancing business growth potential for enterprises [7] Group 4 - China Telecom's Yipay is implementing a data-driven "Yufeng" intelligent supervision platform to enhance risk prevention and control, which has been applied in over 30 state-owned enterprises [8][12] - The platform is recognized as a high-value scenario for artificial intelligence by the State-owned Assets Supervision and Administration Commission for 2025 [8] - The company is focused on building a modern governance system through intelligent data operations [8] Group 5 - The conference showcased innovative payment solutions across various sectors, including automotive travel, finance, tourism, and e-commerce, enhancing payment convenience [17] - A "cloud-based" retail solution was demonstrated, which can reduce operational costs for merchants by over 35% [15] - The event marked a significant step for China Telecom in promoting innovative integration within the industrial chain and establishing a new ecological model for digital industries [17]

Core Insights - The 2025 Digital Technology Ecological Conference, themed "Smart Navigation, Intelligent Coexistence," was held in Guangzhou, showcasing China Telecom's Wing Payment's latest achievements in digital consumption and intelligent regulatory technology [1][15] Digital Consumption Ecosystem - China Telecom's Wing Payment is building a user-centered digital consumption ecosystem based on an integrated strategy of "connection + terminal + application + rights," highlighting the empowering role of digital consumption in the real economy [3][17] - The platform integrates high-quality resources across various scenarios such as communication, travel, finance, and local life, supporting seamless access, network-wide distribution, and comprehensive process control [5][19] - The "Payment Equals Rights" service model allows users to enjoy multiple benefits such as points, coupons, and membership privileges upon completing a payment, enhancing user engagement and consumption experience [5][19] Industry Solutions - Wing Payment showcased customized services for vertical industries like automotive travel and financial insurance, providing solutions such as offline aggregated payments and intelligent POS systems for real-time order and payment data synchronization [7][21] - The cloud-based smart store demonstration attracted visitors, allowing them to experience a fully automated shopping process with features like QR code entry, self-selection, and contactless payment [9][23] Data Operations and Security - The "Yufeng" intelligent regulatory platform is central to Wing Payment's data operations, offering comprehensive, actionable data operation and risk control capabilities [10][24] - The platform utilizes big data, AI, and privacy computing technologies to support real-time monitoring and intelligent alerts, integrating over 300 million business entities and 2 billion relationship data points [12][26] - Wing Payment's modular technology matrix includes smart, security, and risk control platforms, enabling high-performance data processing and automated threat assessment [14][28] - The company aims to deepen its dual strategy of digital consumption and data operations, collaborating with partners to build a secure, efficient, and intelligent new ecosystem for high-quality development of the modern industrial system [14][28]

Core Viewpoint - China Telecom is enhancing its industrial chain through the establishment of two new alliances aimed at driving digital consumption and data operations, marking a shift towards a more intelligent and collaborative development phase in the industry [1] Group 1: Digital Consumption Rights Ecosystem Alliance - The Digital Consumption Rights Ecosystem Alliance focuses on resource integration and consumer activation, aiming to support public services and industrial growth through platform empowerment [1] - This alliance is designed to facilitate the transition towards a more digital and consumer-oriented economy [1] Group 2: Penetrative Regulatory Ecosystem Alliance - The Penetrative Regulatory Ecosystem Alliance utilizes China Telecom's self-developed intelligent regulatory platform, "Yufeng," to strengthen enterprise risk control measures [1] - This initiative aims to create a robust risk management framework for businesses, ensuring compliance and security within the industry [1] Group 3: Synergy and Innovation - Both alliances are complementary, working together to build an open, intelligent, and secure industrial ecosystem [1] - The collaboration is expected to inject innovative momentum into the high-quality development of the industrial chain [1]