华龙证券指出，北美科技巨头资本开支的持续提升有望带动算力产业链需求持续增长，Meta和微软分 别计划投入数千亿美元和800亿美元用于AI智算中心建设。我国大模型数量已达1509个，居全球首位， 将推动相关产业链需求提升。卫星互联网方面，我国成功发射低轨05组卫星，标志着星座组网建设迈入 新阶段，主要为用户提供宽带通信和互联网接入服务。AI快速发展叠加卫星互联网加速推进，带动通 信行业需求持续提升。此外，我国5G基础设施持续完善，累计建成5G基站425.1万个，5G用户普及率超 71%，300多个城市实现5G-A覆盖，数字技术与实体经济深度融合，推动通信行业快速发展。 （文章来源：每日经济新闻） 通信ETF（515880）跟踪的是通信设备指数（931160），该指数从市场中选取涉及通信网络基础设施、 通信终端设备及相关配套产品制造的上市公司证券作为指数样本，以反映通信行业相关上市公司证券的 整体表现。指数成分股具有较高的技术含量和研发投入，代表了通信行业的核心竞争力和发展趋势，尤 其侧重于5G、物联网等前沿技术领域。 ...

Group 1 - The core viewpoint is that the overseas computing power industry chain in the communication sector is progressing rapidly, with sustained investment in computing infrastructure leading to a high level of prosperity in the optical module market [1] - The commercial aerospace industry chain in China is becoming more complete, with the launch progress of the Thousand Ships Constellation expected to accelerate further, driven by optimized bidding mechanisms and clarified technical thresholds [1] - Various sub-sectors such as operators, optical modules/devices/chips, and military/satellite communication are showing positive development trends [1] Group 2 - The Communication ETF (515880) tracks the communication equipment index (931160), which selects listed company securities involved in communication network infrastructure and terminal equipment to reflect the overall performance of related companies [1] - The constituent stocks of the index exhibit outstanding technological research and development capabilities and market competitiveness, highlighting the high-tech and high-growth characteristics of the communication equipment industry [1] - Investors without stock accounts can consider the Guotai Zhongzheng All Index Communication Equipment ETF Connect C (007818) and Guotai Zhongzheng All Index Communication Equipment ETF Connect A (007817) [1]

Group 1 - The core viewpoint of the article highlights the stable development of traditional businesses in the communication industry while actively exploring innovative applications [1] - The current PE TTM for the communication industry is 22.75 times, which is at the 28.04% percentile, indicating a recovery in valuation levels after a recent market surge [1] - Communication companies are focusing on new growth points such as computing networks and quantum secure transmission, with the China Academy of Information and Communications Technology collaborating with operators to initiate the construction of a computing internet experimental network [1] Group 2 - The experimental network has aggregated 499 computing resource pools, with intelligent computing resources reaching 111.3 EFLOPS, promoting interconnectivity of computing resources [1] - The first 400G quantum secure OTN encrypted dedicated line in the country has been opened, achieving a fusion of high bandwidth and quantum-level security [1] - The communication ETF (515880) tracks the communication equipment index (931160), which reflects the overall performance of listed companies in the communication equipment sector [1]