Bank of China Securities released a research report saying that AI+ operators' capital expenditure structure optimization resonated well, and the computing power and communication application sectors showed strong performance: looking at the molecular sector in the first three quarters, the revenue growth rate of the satellite internet sector showed a slight correction, artificial intelligence driven a sharp increase in the computing power sector, the Internet of Things sector bottomed out and rebounded, and 5G applications were on the rise. Looking at the communications equipment sector, the communications equipment sector is currently strongly correlated with operators' capital expenditure, and may gradually expand the second growth curve in the future; in the satellite sector, the inflection point of Beidou navigation is beginning to emerge, waiting for low-orbit constellation networking to drive high performance growth in the satellite Internet sector; in the IoT sector, the car/Internet of Things revenue growth dilemma has reversed the inflection point, which is optimistic about the future development of the industry; in the communications application sector, the upward trend is gradually increasing; in the communications application sector, the trend of revenue growth is gradually increasing; I am optimistic that the roll-out of the application side will drive a high increase in revenue for related targets . Galaxy Securities believes that the current drivers of the communications industry are mainly based on the optimization of operators' capital expenditure structures, artificial intelligence resonance, and a new paradigm dominated by fragmentation in the industry. Currently, fund companies have a high concentration of positions, and there is still plenty of room to explore. It is recommended to select sectors with more space and sufficient future momentum, and pay attention to high performance targets in the segmented industry.

Bank of China Securities released a research report saying that AI+ operators' capital expenditure structure optimization resonated well, and the computing power and communication application sectors showed strong performance: looking at the molecular sector in the first three quarters, the revenue growth rate of the satellite internet sector showed a slight correction, artificial intelligence driven a sharp increase in the computing power sector, the Internet of Things sector bottomed out and rebounded, and 5G applications were on the rise. Looking at the communications equipment sector, the communications equipment sector is currently strongly correlated with operators' capital expenditure, and may gradually expand the second growth curve in the future; in the satellite sector, the inflection point of Beidou navigation is beginning to emerge, waiting for low-orbit constellation networking to drive high performance growth in the satellite Internet sector; in the IoT sector, the car/Internet of Things revenue growth dilemma has reversed the inflection point, which is optimistic about the future development of the industry; in the communications application sector, the upward trend is gradually increasing; in the communications application sector, the trend of revenue growth is gradually increasing; I am optimistic that the roll-out of the application side will drive a high increase in revenue for related targets . Galaxy Securities believes that the current drivers of the communications industry are mainly based on the optimization of operators' capital expenditure structures, artificial intelligence resonance, and a new paradigm dominated by fragmentation in the industry. Currently, fund companies have a high concentration of positions, and there is still plenty of room to explore. It is recommended to select sectors with more space and sufficient future momentum, and pay attention to high performance targets in the segmented industry.