本报记者 谭伦 北京报道 2025年第一季度，三大运营商交出了差异化明显的成绩单。 财报信息显示，中国移动（600941.SH）以营收2638亿元、净利润306亿元继续领跑行业，营收规模接 近中国电信与中国联通之和的1.3倍。中国电信（601728.SH）营收1345亿元、净利润89亿元，但以5G用 户渗透率62%的亮点领先行业。中国联通（600050.SH）则首度实现营收突破千亿元规模，达到1033.54 亿元、净利润26.06亿元，其净利润规模仅为中国移动的8.5%。 从经营指标增速的角度来看，中国联通的营收与利润增速为三家中最高，分别达到3.88%和6.50%；对 比之下，中国移动与中国电信的营收同比分别增长0.02%、0.01%，净利润则分别增长3.5%、3.1%，增 速均较往年显著放缓，这一点也在官方数据中得到印证。工信部最新发布的通信业经济运行情况显示， 2025年一季度电信业务收入累计完成4469亿元，同比增长0.7%。 用户规模方面，中国移动的移动用户总数突破10亿大关，5G用户达5.78亿户，占行业总量的54%；中国 电信5G用户增至2.7亿户，渗透率62%；中国联通5G用户1.71亿户，渗 ...

Core Viewpoint - China Telecom aims to build a comprehensive intelligent cloud capability system consisting of "computing power, platform, data, model, and application" to drive innovation in the artificial intelligence industry [1][2]. Group 1: Intelligent Cloud Development - China Telecom has established major intelligent computing clusters in Shanghai and Beijing, and launched the world's first commercial intelligent computing super node in the Greater Bay Area [1]. - The company has developed the first full-size, full-modal, domestically produced trillion-parameter "Star" foundational model system and has taken the lead in open-sourcing among state-owned enterprises [1]. - The "Star Sea" data intelligence platform has formed a high-quality dataset of 10 trillion tokens and has launched over 50 industry applications in sectors such as government, industry, and education, benefiting over 87 million users [1]. Group 2: Financial Performance - In the fiscal year 2024, China Telecom's intelligent revenue reached 8.9 billion yuan, representing a year-on-year growth of 195.7% [1]. - The revenue from Tianyi Cloud in 2024 was 113.9 billion yuan, with a year-on-year increase of 17.1% [1]. Group 3: Future Investment Plans - For 2025, China Telecom plans capital expenditures of 83.6 billion yuan, with a preliminary allocation for computing power investment expected to grow by over 20% year-on-year, with flexibility for adjustments [2]. - The company will enhance its intelligent computing capabilities by integrating "central clusters + edge data centers" and promoting the deep collaboration of computing networks [2]. Group 4: Platform and Service Upgrades - In the IaaS layer, China Telecom will advance intelligent computing construction and strengthen cloud-intelligent integration capabilities [2]. - The company introduced the Triless platform architecture to upgrade computing power scheduling technology and provide a one-stop service for computing power dispatch and AI development [2]. - In the DaaS layer, the "Star Sea" data intelligence platform will be upgraded to integrate proprietary, open-source, and third-party datasets [2]. Group 5: Focus on SaaS Layer - In the SaaS layer, China Telecom will focus on the digital intelligence needs of production, life, and governance, accelerating the large-scale promotion of AI phones and AI cloud computers [3].