Investment Rating - The report maintains a "Recommended" rating for the telecommunications industry, considering the sustained high prosperity of the sector driven by AI, 5.5G, and satellite communications [2][5]. Core Insights - The overall market performance for the week (June 29 - July 5, 2025) saw the Shanghai Composite Index rise by 1.40%, the Shenzhen Component Index by 1.25%, and the ChiNext Index by 1.50%. However, the telecommunications sector experienced a slight decline of 0.10% [2][10]. - Within the telecommunications sub-sectors, the highest increase was seen in the communication cables and accessories, which rose by 1.02%, while other communication equipment faced the largest decline of 2.49% [2][13]. - Notable individual stock performances included Nanling Technology with a rise of 17.08%, *ST Gaohong at 15.06%, and Yongding Co., Ltd. at 10.65% [2][15]. Summary by Sections Market Overview - The telecommunications sector's index experienced a minor decline of 0.10% during the reporting week, contrasting with the overall market's positive performance [10]. - The communication cables and accessories sub-sector led the gains with a 1.02% increase, while other communication equipment saw a decline of 2.49% [13][14]. Key Developments - Oracle's CEO announced a strong start to the 2026 fiscal year, with multi-cloud database revenue maintaining over 100% growth and a significant cloud service agreement expected to generate over $30 billion annually starting in the 2028 fiscal year [3]. - The AI technology's maturation is accelerating the growth of cloud services, which is expected to expand the demand for computing hardware and cloud infrastructure [3]. - The U.S. has lifted restrictions on chip design software exports to China, which may impact the EDA market and the competitive landscape for domestic EDA companies [21]. Company Announcements - No significant announcements were reported for the telecommunications sector during the week of June 29 - July 5, 2025 [22]. - Upcoming announcements for the week of July 6 - July 12, 2025, include no major events or unlocks for the telecommunications companies [23].

Core Viewpoint - Huawei officially announced the open-source release of the Pangu 70 billion parameter dense model and the Pangu Pro MoE 720 billion parameter mixture of experts model, as well as model inference technology based on Ascend, marking a significant step in promoting the research and innovation of large model technology and accelerating the application and value creation of artificial intelligence across various industries [1]. Group 1 - The Pangu Pro MoE 72B model weights and basic inference code have been officially launched on the open-source platform [2]. - The inference code for the ultra-large-scale MoE model based on Ascend has been officially launched on the open-source platform [3]. - The weights and inference code for the Pangu 7B related model will be available on the open-source platform soon, inviting global developers, enterprise partners, and researchers to download and provide feedback for improvement [4].

Core Viewpoint - Huawei has officially announced the open-source release of the Pangu 70 billion parameter dense model and the Pangu Pro MoE 720 billion parameter mixture of experts model, along with the inference technology based on Ascend, marking a significant step in promoting AI applications across various industries [2]. Group 1 - The Pangu Pro MoE 72B model weights and basic inference code have been officially launched on the open-source platform [3]. - The large-scale MoE model inference code based on Ascend has also been officially launched on the open-source platform [4]. - The weights and inference code for the Pangu 7B related models will be available on the open-source platform soon, inviting global developers, partners, and researchers to download and provide feedback [5]. Group 2 - Huawei's Ascend architecture has achieved a 20% acceleration in MoE training and a 70% reduction in memory usage, showcasing the capabilities of the Pangu architecture [7].

Core Viewpoint - Huawei has officially announced the open-sourcing of its Pangu models, including the 70 billion parameter dense model and the 720 billion parameter mixture of experts (MoE) model, as part of its Ascend ecosystem strategy to promote AI technology across various industries [1][2]. Group 1: Model Development and Open-Sourcing - Huawei has launched the Pangu Pro MoE 72B model weights and basic inference code on an open-source platform, with plans to release the Pangu 7B model weights and inference code soon [1]. - The Pangu Pro MoE model, with 720 billion parameters and 160 billion active parameters, has demonstrated performance comparable to larger models, ranking first among domestic models with fewer than 1 trillion parameters on the SuperCLUE leaderboard [1]. - The company plans to open-source the Pangu 72B MoE model first, followed by smaller models potentially for academic institutions [2]. Group 2: Technical Advancements - Huawei has introduced a new model, the Pangu Ultra MoE, with a parameter scale of 718 billion, trained entirely on the Ascend AI computing platform [2]. - The model training efficiency has been highlighted, with a model compute utilization (MFU) of 41% achieved in pre-training and over 50% in specific configurations [3]. - The architecture of the Ascend super nodes has been optimized for extreme parallelism, enhancing training efficiency and inference performance [3]. Group 3: Ecosystem and Future Plans - Huawei is committed to improving its ecosystem and ensuring compatibility with mainstream industry ecosystems to support customer development [2]. - The company has also announced upgrades to its Pangu models for natural language processing, computer vision, multimodal applications, prediction, and scientific computing at the Huawei Developer Conference [3].