通信行业中期策略报告：AI为基算力为石，科技变革浩瀚星辰.docx

40.00%30.00%20.00%10.00%0.00%-10.00%-20.00%-30.00%-40.00%煤炭银行

40.00%

30.00%

20.00%

10.00%

0.00%

-10.00%

-20.00%

-30.00%

-40.00%

家用电器公用事业石油石化交通运输有色金属

通信汽车

农林牧渔非银金融

钢铁建筑装饰基础化工国防军工建筑材料食品饮料美容护理

电子机械设备纺织服饰电力设备

环保房地产轻工制造医药生物

传媒商贸零售社会服务计算机综合

0941HK

+MB

(HKD)

2085.58

5.88

6.16

6.55

6.98

7.78

9.56

10.62

10.06

0728HK

+M

o(HKD)

716.24

0.30

0.33

0.36

0.39

9.05

10.30

11.21

10.36

0762HK

242.10

0.55

0.61

0.67

0.74

7.77

7.30

8.58

7.88

3.12

5.23

2.00

3.92

523

6.00

11.96

11.80

TUS

ATT(USD)

1306.40

-1.13

1.97

2.12

2.22

6.59

7.21

8.28

8.07

Verizon(USD)

1739.69

5.05

276

4.47

4.63

7.74

8.28

9.02

8.81

TMUSUS

T-MobileUS(USD)

2106.64

2.07

7.02

9.10

11.15

21.55

19.92

19.76

16.13

5.89

5.62

4.97

5.89

5.62

5.48

12.38

I5.I4

DTEGR

1,%M(EUR)

1226.88

1.61

3.57

1.67

1.8V

12.26

26.52

12.51

11.27

BT/ALN

0.13

0.19

0.09

0.15

14.12

7.52

12.60

7.12

9432JP

BAfHi6(JPY)

879.35

13.17

13.92

15.09

14.31

10.77

11.31

11.92

10.40

6:

Lr(I( :

2015

2016

2017

2018

2019

2020

2021

2022

2023

1Q24

B%

11.97

15.15

21.35

32.58

27.41

8.17

17.63

12.05

15.95

YoY

14.55%

26.54%

40.93%

52.61%

—15.88%

—70.19%

115.78%

—31.64%

32.33%

@BB

12.54

16.78

25.43

47.45

73.73

64.06

65.72

84.00

49.99

YoY

61.59%

33.80%

51.52%

86.57%

55.38%

—13.11%

2.59%

27.82%

—40.49%

Ii9N80

20.18

27.03

48.98

78.77

81.69

102.07

97.50

73.01

66.93

YoY

86.01%

33.96%

81.17%

60.82%

3.71%

24.95%

—4.47%

—25.12%

—8.33%

@MU@^JPA@i1

44.70

58.97

95.76

158.80

182.82

174.30

180.85

169.06

132.87

YoY

53.79%

31.93%

62.39%

65.83%

15.13%

—4.66%

3.76%

—6.52%

—21.41%

—U

45.89

67.37

100.58

113.23

126.89

350.44

553.96

583.21

481.33

139.35

YoY

—6.21%

46.81%

49.29%

12.58%

12.06%

176.18%

58.08%

5.28%

—17.47%

6.62%

114.88

135.48

127.95

133.13

104.95

73.09

110.85

107.08

109.59

23.92

YoY

17.07%

17.93%

—5.56%

4.05%

—21.17%

—30.36%

51.66%

—3.40%

2.34%

—36.84%

25.23

44.91

67.33

139.15

151.02

151.15

185.67

314.31

272.66

64.00

YoY

37.79%

78.00%

49.92%

106.67%

8.53%

0.09%

22.84%

69.28%

—13.25%

—6.46%

%

99.15

102.12

131.84

251.39

235.48

222.81