通信行业周报：三大运营商全面接入DeepSeek，欧盟官宣AI超级工厂计划

Investment Rating - The industry investment rating is "Maintain Buy" [7] Core Viewpoints - The three major telecom operators have fully integrated with DeepSeek, which is expected to enhance the valuation of the operators [12][27] - The EU has announced the AI Super Factory plan, which is likely to benefit the computing power sector [13][27] - Shandong province has initiated a pilot project for 10G optical networks, which is expected to benefit related sectors [14][28] Summary by Sections 1. Core Viewpoints and Investment Recommendations - Telecom operators are expected to benefit from the full integration with DeepSeek, enhancing their valuation [12] - The EU's InvestAI plan aims to mobilize €200 billion (approximately ¥1.5 trillion) for AI investments, potentially creating the world's largest public-private partnership project [13] - Shandong's pilot project for 10G optical networks focuses on residential, industrial, and park applications, aiming to create a robust digital infrastructure [14] 2. Market Review - The A-share Shenwan Communication Index rose by 3.01%, outperforming the CSI 300 Index by 1.82 percentage points [16] - Within the Shenwan Communication sub-sectors, the communication services sector increased by 9.74%, while the communication equipment sector decreased by 0.49% [18][21] 3. Investment Recommendations - Positive outlook on sectors including optical modules, telecom operators, and communication equipment [15] - Recommended stocks include Zhongji Xuchuang, Tianfu Communication, and Xinyisheng for optical modules; China Mobile, China Telecom, and China Unicom for telecom operators; ZTE and Unisplendour for communication equipment [15] 4. Industry News - The three major telecom operators have fully integrated with DeepSeek, enhancing their capabilities in various applications [27] - The EU's InvestAI plan aims to establish a €20 billion (approximately ¥151.4 billion) European fund for building AI super factories [27] - Shandong province's pilot project for 10G optical networks aims to develop a strong digital foundation for economic integration [28]