证券日报网讯 2月24日，中国联通在互动平台回答投资者提问时表示，公司坚持守正创新，坚持主责主 业，聚焦"连接""算力""服务""安全"核心赛道，全力打造差异化优势，进一步提升运营效率，强化市值 管理，推动公司高质量发展行稳致远。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 2月24日，中国联通在互动平台回答投资者提问时表示，2025年前三季度，公司算力业务 实现规模突破，联通云收入529亿元。数据中心适智化改造成效明显，数据中心收入214亿元，同比提升 8.9%。持续深化数智融合、数实融合，推动5G、AI与工业互联网深度结合，赋能千行百业全面升级， 5G虚拟专网累计服务客户超过2万个。公司将坚持守正创新，坚持主责主业，聚焦"连接""算力""服 务""安全"核心赛道，全力打造差异化优势，进一步提升运营效率，推动公司高质量发展行稳致远。 ...

Investment Rating - Industry rating: Recommended [5] Core Insights - The recent surge in China's AI models during the "Spring Festival" has shifted the focus from general chat tools to vertical productivity tools and real agent implementations, particularly in industrial video generation and engineering-level programming [1][13] - Major players like ByteDance, Alibaba, and Zhipu AI are leading the market, with competition now centered on efficiency, cost control, and scene adaptation rather than just parameter scale [1][13] - The demand for computing power is expected to boost hardware and computing rental markets, benefiting companies involved in computing leasing and third-party data centers [2][14] Summary by Sections Section 1: AI Model Developments - Multiple flagship models were released during the Spring Festival, enhancing capabilities in video and programming applications, with significant improvements in quality and efficiency [7][13] - ByteDance's Seedance 2.0 model supports multi-modal input and has shown substantial advancements in generating complex interactions and maintaining physical accuracy [8][9] - Alibaba's Qwen3.5-Plus model has achieved breakthroughs in multi-modal capabilities and cost efficiency, making it competitive with leading models globally [10][11] Section 2: Market Outlook - The current market is experiencing liquidity concerns and changing capital expenditure expectations from overseas players like OpenAI, leading to a cautious outlook for the AI sector [3][15] - The AI development phase is seen as a critical acceleration period, with increasing demand for token usage and ongoing expansion of foundational computing infrastructure [3][15] Section 3: Recommended Investment Targets - Key investment opportunities include companies in computing and communication infrastructure, such as China Mobile, China Telecom, and third-party data center firms like Huohuan New Network and Data Port [15][17] - The report highlights the potential of low-orbit satellite components and chip suppliers in the commercial aerospace sector [3][15] - Recommendations also extend to edge computing firms and those involved in satellite internet and low-altitude economy sectors [17][19]

Core Viewpoint - The article highlights the transformation in supply methods for offshore workers in Guangdong Yangjiang, showcasing the launch of China's first "sea mall" smart instant supply platform, which utilizes drones for efficient delivery of essential goods [1][4]. Group 1: Supply Chain Innovation - The new platform allows offshore workers to order supplies like drinking water and fresh food via a mobile app, with delivery completed in approximately five minutes using drones [1][6]. - Previously, supply delivery required long boat trips, taking up to a day, especially under adverse weather conditions, but the new system enables "hour-level on-demand delivery" for various categories of goods [4][6]. Group 2: Technological Advancements - The "three networks and one platform" smart marine management system developed by China Unicom Yangjiang integrates a "sea and air vertical logistics network," allowing drones to deliver goods without the need for specialized landing platforms [6][8]. - During a test flight in February 2024, drones completed a round trip of three to four kilometers in about five minutes, significantly faster than traditional boat deliveries, which take 15-20 minutes and cost between 200-500 yuan [6][8]. Group 3: Economic Impact - Guangdong is accelerating the commercialization of low-altitude economy, with drone delivery capabilities being validated for wind resistance and long-distance flights, aiming to reduce costs through technological upgrades [8]. - The development of a low-altitude logistics network is gradually covering offshore ranches and anchored vessels, making the concept of a "sea supermarket" a reality, which represents a significant shift in the marine economy [8][9].

Core Viewpoint - China Unicom Cloud has launched a comprehensive deployment solution for large models, including OpenClaw and DeepSeek, aimed at creating flexible office solutions for the upcoming Spring Festival [1] Group 1: Product Offerings - China Unicom Cloud has developed a "Remote Intelligent Collaboration Solution" in partnership with OpenClaw, which breaks down spatial barriers for remote work [1] - The Unicom Cloud desktop is preloaded with OpenClaw images and programming tools like OpenCode, supporting multi-device synchronization across Windows, macOS, iOS, and Android [1] - The "Work Resumption Computing Empowerment Plan" leverages the full-scenario computing foundation to assist businesses in quickly organizing resumption data and deploying business processes [1] Group 2: User Accessibility - The new solutions are designed to have zero entry barriers, requiring no specialized technical skills for users [1] - Users can directly access mainstream models such as DeepSeek and Tongyi Qianwen through the AI service platform without needing to build their own computing clusters [1] - A unified entry point for preloaded model APIs allows users to call models instantly by copying keys [1] Group 3: Marketing Initiatives - China Unicom Cloud has launched a special Spring Festival marketing campaign, offering "trillion" Tokens for free, targeting individuals, enterprises, and developers [1]

证券代码：600050 证券简称：中国联通 公告编号：2026-013 中国联合网络通信股份有限公司 关于下属公司参与出资诚通科创（江苏）基金 进展暨完成基金备案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | 投资标的名称 | 诚通科创投资基金（江苏）有限公司（以下 简称"诚通科创（江苏）基金"或"基金"） | | | --- | --- | --- | | 投资金额（万元） | 100,000 | | | 投资进展阶段 | 完成 交易要素变更 进展 | 终止 | | 特别风险提示（如有请勾选） | 募集失败 | | | | 未能完成备案登记 | | | | 提前终止 | | | | 发生重大变更 | | | | 其他：本次投资过程中存在风险包括但不 | | | | 限于市场风险、技术风险、产业风险、运营 | | | | 风险及资金损失风险、流动性风险、操作风 | | | | 险、法律与政策风险、发生不可抗力事件的 | | | | 风险等。 | | 重要内容提示： 一、合作投资基本情况概述 中国联 ...

Core Viewpoint - China Unicom announced that its indirectly controlled subsidiary, Unicom Venture Capital, has invested 1 billion yuan in subscribing to the shares of the Chengtong Science and Technology Innovation (Jiangsu) Fund, which has been registered with the Asset Management Association of China as of February 12, 2026. This transaction is expected to expand the company's investment channels and optimize its structure, aligning with its main business operations [1]. Group 1 - The investment amount by Unicom Venture Capital is 1 billion yuan [1]. - The fund has completed registration with the Asset Management Association of China on February 12, 2026 [1]. - The total investment amount in collaboration with private equity funds has reached 9.877 billion yuan [1]. Group 2 - The transaction is aimed at expanding investment channels and optimizing the company's structure [1]. - There are various risks associated with the fund's management operations, including market and technical risks [1].

Investment Rating - The report maintains an "Outperform" investment rating for the communication industry [4][7]. Core Insights - In January 2026, the communication industry index increased by 5.47%, outperforming the Shanghai Composite Index (+3.76%), CSI 300 Index (+1.65%), Shenzhen Component Index (+5.03%), and ChiNext Index (+4.47%) [3][13]. - The capital expenditure of the four major North American cloud providers is expected to grow significantly, with a projected increase of over 60% in 2026 [6][24]. - The procurement results for special optical cables by China Mobile indicate that eight manufacturers, including Tongding Interconnection and Yangtze Optical Fibre and Cable, have been selected, highlighting the focus on key sectors such as industrial manufacturing and digital government [6][7]. Summary by Sections Industry Performance - The communication industry index showed a strong performance in January 2026, with a 5.47% increase, outperforming major indices [3][13]. - Sub-sectors within the communication industry saw varied performance, with cable, other communication equipment, and system equipment rising by 19.70%, 10.72%, and 7.85% respectively [16]. Telecommunications Sector - In 2025, the telecommunications business revenue reached CNY 1.75 trillion, a year-on-year increase of 0.7% [6][45]. - By December 2025, 5G mobile phone users accounted for 65.9% of total mobile phone users, with a monthly data usage (DOU) of 23.04GB per user, reflecting a 17.0% year-on-year increase [6][45]. Cloud Infrastructure Investment - The combined capital expenditure of the four major North American cloud providers in Q4 2025 was USD 126 billion, marking a 62.0% year-on-year increase [24][25]. - For 2026, the total capital expenditure guidance for these providers exceeds USD 660 billion, with an expected growth of 61.0% [24][25]. AI and Smartphone Market - The retail sales of communication equipment in China increased by 20.9% year-on-year in December 2025, driven by the demand for smartphones [44]. - The global smartphone shipment is projected to grow by 2% in 2025, reaching 1.25 billion units, with AI smartphones expected to penetrate 34% of the market by 2025 [6][44]. Investment Recommendations - The report suggests focusing on companies involved in optical devices, optical chips, optical modules, and AI smartphones, including Tianfu Communication, ZTE, and China Mobile [7][6].

联通数据智能有限公司，成立于2024年，位于杭州市，是一家以从事互联网和相关服务为主的企业。企 业注册资本150000万人民币。通过天眼查大数据分析，联通数据智能有限公司共对外投资了1家企业， 参与招投标项目298次，专利信息644条。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 国家知识产权局信息显示，中国联合网络通信集团有限公司取得一项名为"用户的留资意向处理方法、 装置、服务设备及存储介质"的专利，授权公告号CN116956223B，申请日期为2023年7月。 天眼查资料显示，中国联合网络通信集团有限公司，成立于1994年，位于北京市，是一家以从事电信、 广播电视和卫星传输服务为主的企业。企业注册资本10570385.629549万人民币。通过天眼查大数据分 析，中国联合网络通信集团有限公司共对外投资了35家企业，参与招投标项目3367次，财产线索方面有 商标信息3725条，专利信息5000条，此外企业还拥有行政许可11个。 联通数字科技有限公司，成立于2006年，位于北京市，是一家以从事软件和信息技术服务业为主的企 业。企业注册资本988 ...

Group 1 - In 2025, a total of 6.763 million marriage registrations were recorded in China, an increase of 657,000 compared to the previous year, representing a growth of 10.76% [3][4] - The new marriage registration regulations effective from May 10, 2025, will eliminate regional restrictions and allow nationwide processing of marriage certificates [3][4] - The increase in marriage registrations is particularly notable in cities with high influxes of migrant populations [3] Group 2 - Elon Musk was ranked as the greatest innovator in the Forbes "Innovators 250" list, with Nvidia CEO Jensen Huang placed fifth [4] - The top ten innovators include notable figures such as Jeff Bezos, Bill Gates, and George Lucas [4] - The U.S. stock market saw a collective decline, with major tech stocks like Apple dropping by 5% [4] Group 3 - The CEO of Insta360, Liu Jingkang, announced the distribution of five apartments and several luxury cars as incentives during the company's annual meeting [2][3] - The total value of the cars given away exceeded 10 million yuan, highlighting the importance of material incentives for employee motivation [2] Group 4 - The Chinese market for high-end talent is increasingly influenced by both intrinsic motivations like achievement and extrinsic incentives such as material rewards [2] - The introduction of a "low-quality seat" reminder by the 12306 ticketing platform has sparked discussions among consumers regarding the quality of available seating options [2] Group 5 - Samsung Electronics has begun mass production of HBM4 memory and is actively expanding its production capacity, anticipating a threefold increase in sales compared to 2025 [7] - Nuveen is set to acquire Schroders for £9.9 billion, marking the end of the latter's 200-year independence [7] Group 6 - LV, Dior, and Tiffany were fined over 36 billion KRW in South Korea due to poor management of customer information leading to data leaks [12] - The fines were imposed by the Personal Information Protection Commission, with LV facing the largest penalty of 21.385 billion KRW [12] Group 7 - SoftBank Group reported a net profit increase to 3.1726 trillion yen for the period from April to December 2025, marking a fivefold increase compared to the previous year [20] - Hermes announced a revenue of 16 billion euros for 2025, reflecting a 5.5% year-on-year growth [20] - Siemens reported a net profit of 2.222 billion euros for the first quarter of 2026, a decrease of 43% year-on-year [20]