港股晨报 港股回顾 点，跌幅随即扩大至 247 点，低见 23730 点，其后跌幅 一度收窄至仅 20 点，午后大盘走势偏软，尾盘沽压再 度扩大。截至收盘，恒指收报 23831 点，下跌 145 点或 0.61%；国指收报 9656 点，下跌 47 点或 0.49%，大市 成交进一步减至 827.99 亿。港股通录得净流入资金 4.84 亿，其中港股通(沪)净流入 2.83 亿，港股通(深)净 流入 2.01 亿。板块方面，本地地产、软件、5G 概念板 块跌幅靠前；黄金股逆市走强。 上周五港股三大指数震荡小幅收涨。收盘恒指涨 0.32%，国企指数、恒生科技指数分别上涨 0.1% 及 0.15%。大型科技股走势分化明显，其中，阿 里巴巴、京东涨近 3%，百度、美团跌超 2%；巴克 莱大幅上调金银铜价格预期，铜业股、黄金股等 有色金属股再度活跃，尤其是招金矿业盘中刷新 历史新高价；国际油价反弹创两周新高，中国石 化与中国航油官宣重组，石油股普遍上涨；AI 医 疗新时代开启，互联网医疗概念股齐涨。 美股市场 1. 上周五美股三大指数集体收涨，纳指涨 0.81%， 全周累涨 1.88%；标普 500 指数涨 0.65 ...

Core Insights - The International Telecommunication Union's report highlights significant improvements in global digital connectivity, but persistent imbalances remain [1][2][3] Digital Connectivity Trends - Global internet usage is projected to reach 74% by 2025, equating to nearly 6 billion people, marking a 3 percentage point increase from 2024, although the growth rate is slowing [1] - Approximately 2.2 billion people remain completely offline, primarily in low-income and rural areas, with internet penetration rates of only 34% and 38% in least developed and landlocked developing countries, respectively [1][2] Gender and Income Disparities - The gender gap in digital connectivity remains largely unchanged, with male internet usage at 77% and female at 71%, a 6 percentage point difference [2] - In low-income countries, the gap widens significantly, with male usage at 29% compared to female at 18% [2] - Internet penetration in high-income countries is 94%, while it is only 23% in low-income countries, a fourfold difference [2] Mobile Broadband Coverage - Global mobile broadband coverage has reached 96%, but the last 4% remains difficult to connect, with only a 6 percentage point increase since 2018 [1] - 5G network coverage exceeds 55% globally, but only 4% in low-income countries, with significant regional disparities [3] Pricing and Affordability Issues - Mobile data costs have decreased, with global expenses as a percentage of income dropping from 1.5% to 1.4%, yet 75 economies still do not meet the 2% target [4] - In low-income countries, fixed broadband costs consume about 28% of income, compared to around 1% in high-income countries, severely limiting usage [4] - The affordability of mobile broadband remains a critical barrier, particularly in Africa, where costs exceed the global average [4]

Core Insights - The International Telecommunication Union's report highlights significant improvements in global digital connectivity, but persistent imbalances remain [1][2][3][4] Digital Connectivity Trends - Global internet usage is projected to reach 74% by 2025, equating to nearly 6 billion people, an increase of 3 percentage points from 2024, although the growth rate is slowing [1] - Approximately 2.2 billion people remain completely offline, primarily in low-income and rural areas, with internet penetration rates of only 34% and 38% in least developed and landlocked developing countries, respectively [1][2] Gender and Income Disparities - The gender gap in digital connectivity remains largely unchanged, with male internet usage at 77% and female at 71%, a 6 percentage point difference [2] - In low-income countries, the gap widens to 29% for men and 18% for women [2] - Internet penetration in high-income countries is 94%, compared to just 23% in low-income countries, a fourfold difference [2] Mobile Broadband Coverage - Global mobile broadband coverage has reached 96%, but the last 4% remains difficult to connect, with only a 6 percentage point increase since 2018 [1] - 5G network coverage exceeds 55% globally, but only 4% in low-income countries, with significant regional disparities [3] Pricing and Affordability Issues - Although mobile data costs have decreased, about one-third of economies have not met the target of mobile data costs being less than 2% of income [4] - In low-income countries, fixed broadband costs account for approximately 28% of income, while in high-income countries, this figure is around 1% [4] - The affordability of mobile broadband is a critical barrier to internet access in low-income regions, where mobile broadband costs represent 5.3% of income in Africa, exceeding the global average of 1.4% [4]

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market turnover decreased to 82.799 billion, with net inflows of 484 million from the Hong Kong Stock Connect [1] - The US stock market also faced a downturn, with the Dow Jones falling by 301.07 points or 0.65%, closing at 45,952.24 points, amid concerns over bank sector bad debts [2] Investment Opportunities - The report emphasizes the potential for investment in Hong Kong stocks due to their relatively low valuations and increasing trading activity [3] - Key sectors to watch include artificial intelligence, semiconductors, and industrial software, which are expected to drive long-term growth [3] - Companies like ZTE, which have lower valuation levels, are highlighted as potential beneficiaries in the technology sector [3] Sector Performance - High-dividend assets such as banks, insurance, coal, and electric power sectors showed strong performance, while local real estate, software, and 5G concept sectors faced declines [1] - The gold sector performed well, with gold prices surpassing $4,300 per ounce, reflecting a year-to-date increase of over 60% [9] - The AI sector is experiencing explosive growth, with significant increases in usage of AI models, indicating a robust demand for related technology [9] Company Highlights - China Unicom reported a 4.3% year-on-year increase in its net business income for the first half of 2025, reaching 45.4 billion [10] - The company is transitioning towards a technology-driven digital enterprise, with a focus on cloud computing, IoT, and AI [10] - The report suggests that China Unicom's current valuation is relatively low, making it an attractive investment opportunity [10]

Core Insights - The report reveals significant improvements in broadband user experience in China, with fixed broadband average download speed reaching 99.14 Mbit/s in Q4 2024, a 3.51% increase from the previous quarter and a year-on-year growth of 15.26 Mbit/s, equating to an 18.2% annual growth rate [1] - Mobile broadband users also experienced enhanced speeds, with an average download rate of 157.53 Mbit/s for 4G and 5G networks, reflecting a year-on-year increase of 21.78% [1][2] - The implementation of the "14th Five-Year Plan" has led to substantial advancements in broadband infrastructure, with fiber access (FTTH/O) ports reaching 96.5% by the end of 2024, and nearly 80% of global gigabit access ports located in China, totaling 28.2 million [1] Fixed Broadband Performance - In Q4 2024, the top three cities for fixed broadband download speeds were Shanghai, Tianjin, and Beijing, with China Telecom achieving the highest average fixed broadband download speed of 99.69 Mbit/s [4] - The overall fixed broadband user download speed has increased by 1.86 times compared to the end of the "13th Five-Year Plan" period [2] Mobile Broadband Performance - The average download speed for 4G networks was recorded at 47.41 Mbit/s, while 5G networks achieved an impressive average of 248.68 Mbit/s, with year-on-year increases of 9.04% and 8.71% respectively [6][7] - Major cities such as Shanghai, Beijing, and Tianjin led in mobile broadband download speeds, with China Mobile reporting an average mobile broadband download speed of 160.38 Mbit/s [4] Infrastructure Development - By the end of 2024, gigabit broadband users reached 207 million, accounting for 30.9% of total users and nearly 70% of global gigabit broadband users [1] - The number of 5G base stations reached 4.251 million, enabling "5G access in every town" and resulting in 1.014 billion 5G mobile phone users, representing 56.7% of mobile phone users [2]

Core Viewpoint - The article highlights the rapid response and efforts of China Mobile Guangxi Guilin Branch in restoring communication services following a flash flood disaster in Longsheng County, Guangxi, ensuring effective support for rescue operations [1][3][5]. Group 1: Emergency Response - China Mobile Guangxi Guilin Branch activated its flood emergency response mechanism immediately after the disaster, focusing on restoring damaged communication facilities to support rescue efforts [1][3]. - The company deployed a team of network technicians and emergency communication vehicles to the disaster area, emphasizing the principle of "communication first, guarantee second" [3][5]. Group 2: Communication Restoration Efforts - Technicians faced challenging conditions, including rocky roads and mudslides, but remained committed to restoring communication signals, which are critical for rescue operations [5][8]. - A satellite communication backpack was utilized to establish a communication channel in the disaster-stricken area, overcoming significant obstacles such as steep terrain and poor satellite signal reception [5][9]. Group 3: Resource Mobilization - A total of 117 personnel, 15 emergency vehicles, 20 oil machines, and various communication equipment were mobilized by China Mobile to support the rescue operations [9]. - The company successfully repaired 3 kilometers of optical fiber and established emergency communication lines, including a video link to the regional command center, enhancing coordination during the rescue efforts [9]. Group 4: Commitment to Service - The actions of China Mobile personnel exemplified their commitment to public service, with a focus on ensuring continuous communication during the disaster response [9]. - The article emphasizes the company's mission of "People's Postal and Telecommunications for the People," showcasing their dedication to providing essential communication services in times of crisis [9].