Recently, there are two major directions in the domestic information communication regulation field worth paying attention to. The National Information Communication Regulation Work Conference was held in Beijing, setting the tone for the "14th Five-Year Plan" in the information and communication industry—focusing mainly on 6G and computing power.

Regarding 6G, the statement is particularly important: it emphasizes systematically advancing technological research and development, standard setting, and application cultivation. This is not just about developing chips in laboratories but involves a full-chain layout from underlying technology to industry implementation. In other words, the entire industry chain of communication equipment manufacturers and chip design companies has essentially secured an early "14th Five-Year Plan" entry ticket, with subsequent orders and investment opportunities gradually unfolding.

The policy statement on computing power is also quite interesting—highlighting the need to coordinate and optimize the deployment, structure, and scheduling of computing resources. What is the logic behind this? It’s essential to prevent idle computing resources and find ways to activate different regions and types of computing power. This means that enterprises involved in computing network infrastructure and scheduling platforms will see new growth opportunities.

Another deeper integration point is the combination of industrial Internet and AI. This effectively applies the technological advantages of 6G and computing power directly to the upgrading of traditional industries, providing practical scenarios for new technologies and promoting the transformation of the real economy.

Based on this policy direction, we can identify two main industry chain opportunities:

**6G Industry Chain**: First, the core technology and communication equipment segment. ZTE Corporation has already made arrangements in terahertz communication and integrated space-ground technologies, holding multiple 6G frequency band encoding patents, making it a major domestic player in communication equipment. China Information and Communication Technology Mobile (信科移动) has technical reserves in core mobile communication technology and 6G network architecture, and is involved in preliminary research for domestic 6G standards.

Satellite communication is also crucial. China Satcom, as a leading domestic satellite communication operator, will inevitably rely on satellites to realize broad coverage for the "space-ground integrated" 6G network, directly benefiting the company's satellite resources. China Satellite Communications has advantages in satellite manufacturing, and large-scale 6G network deployment will require numerous low-earth orbit satellites. The company’s capabilities in small satellite R&D and mass production give it a competitive edge.

**Computing Power Upgrade Industry Chain**: This can be divided into several segments. Starting with servers and hardware infrastructure, Inspur is a global leader in servers, and expansion and structural optimization of computing nodes will directly boost server procurement demand. The company leads in AI servers and intelligent computing centers. Sugon (Super Micro) is a key domestic player in high-end servers, having participated in multiple smart computing center projects, and future upgrades in computing power scheduling will increase its server adaptation needs.

The optical communication sector also presents significant opportunities. InnoLight (Zhongji Xuchuang) is a global leader in optical modules, and the demand for high-bandwidth optical devices (like 800G and 1.6T optical modules) will surge with computing power scheduling. The company is a core supplier in this field. New Easy (Xinyi Sheng) is also a leader in optical modules, with high-speed optical modules being critical hardware for computing network transmission. Its product lines can meet mainstream needs in computing scenarios.

Finally, on the software and scheduling layer, Digital China has the capability to build computing power scheduling platforms, helping clients integrate dispersed resources—perfectly aligning with the policy direction of "upgrading and optimizing computing power scheduling." UCloud (UCloud Tech), as a neutral cloud service provider, offers computing power leasing and cloud scheduling services. Future optimization of computing power deployment will enhance the utilization efficiency of its cloud resources and commercial monetization potential.

Overall, this policy window effectively opens up growth space for both industry chains. In the short term, related companies’ orders, financing, and valuations are likely to see new potential.