华西证券指出，在数字经济以及AIGC等科技创新更迭时期，网络与信息安全重要性不断提升，同时受地缘政治冲突不确定性影响，相关网络安全支出预计仍将保持较高增长速度。The Ministry of Industry and Information Technology has authorized basic telecommunications Operations enterprises to carry out frequency reassignment.
The Ministry of Industry and Information Technology recently approved CHINA MOBILE to reorganize frequency resources below 3000MHz that have been used for 2G/3G/4G systems, which can also be used for 5G public mobile communication systems. This approval for frequency reorganization by CHINA MOBILE effectively revitalizes existing resources, supporting the coverage and communication capacity enhancement of 5G networks in rural and remote areas, better meeting the communication demands for high rates, low latency, and large connections in applications such as Industrial Internet, Internet of Things, and Vehicle Networking.
Facing the "Intelligent New Era," telecom operators, as the national team for digital information operation services and pioneers in digital technology integration and innovation, are expected to benefit from the development of new quality productivity in China.
Huaxi pointed out that during the period of digital economy and technological innovations like AIGC, the importance of network and information security continues to rise. Meanwhile, affected by uncertainties from geopolitical conflicts, related cybersecurity spending is expected to maintain a high growth rate.
China Galaxy Securities stated that the demand for communications equipment, as the foundational infrastructure of digital economy computing power, is expected to experience high growth, with related sectors likely to encounter greater opportunities, particularly including operators, optical communications, Quantum Communication, and emerging industries empowering related industrial chains.
The three major telecom operators:
China United Network Communications (00762), CHINA TELECOM (00728), CHINA MOBILE (00941)
