JP-CMOB@EC2611A

Guangdong Mobile Launches Three AI Speed-up Actions, Plans to Invest Over 5 Billion Yuan in 2026 to Build 300,000 5G Base Stations

Migu Officially Announces as 2026 USA-Canada-Mexico World Cup Rights Holder

CMHK to Sign Agreement with Kazakhstan for Integrated Communication and Logistics Solution During Next Month's Visit

Southern Power Grid Guangxi and China Mobile Guangxi Conduct First Test of Computing-Power Synergy Response

China Mobile Launches Nationwide Token Plan, Unifying Compute Dimensions and Integrating Cloud Products

Moonshot AI Completes $2 Billion D-Round Financing, Valuation Reaches $20 Billion

China Mobile Hubei's Shiyan Intelligent Computing Center to Officially Commence Operations in June

Yangtze Computing Wins China Mobile Server Project Bid, Amount Exceeding 1.9 Billion Yuan

China Mobile's 5G Base Stations Exceed 2.84 Million, Leading Global Coverage and Scale

China Mobile Announces Winning Bidders for 2026-2027 CPE OTN Equipment Procurement: Risun and Five Others Selected

Henan Mobile Launches 5G-A Experience 2.0 Exclusive Service, Opening New Era of Smart Interaction

China Mobile Unveils Computing Power Network Innovation System, Establishing Token Certainty as Key

China Mobile Shanghai Unveils Four Core Results and AI Upgrade Plan to Boost Digital Capital Construction

China Mobile: To Promote Evolution from 'Dual Gigabit' to 'Dual 10-Gigabit' Facing the '15th Five-Year Plan'

Goldman Sachs Upgrades China Mobile's Profit Forecast and Target Price

China Mobile Announces Tender Results for 2026 Green Multiband Base Station Antenna Product Concentrated Procurement Project

China Mobile Releases Its Self-developed Nine Heavens 35B General Model

China Mobile Vice President Elaborates on AI Trends and Emphasizes Trustworthiness

JOLIMARK

TIMES UNI GP

APEX ACE HLDG

VPOWER GROUP

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FUJING HOLDINGS

TEAMWAY INTL GP

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FDB HOLDINGS

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China's three major telecom operators are transitioning from data traffic sales to offering Token packages and AI services, aiming to become AI computing power gateways. Despite a rise in stock prices following the launch, the market acceptance of these Token plans remains uncertain, as users struggle to understand their value compared to traditional data services.

CoinLive

China Unicom

CHINA MOBILE

CHINA TELECOM

China Mobile

CHINA UNICOM

Chagee

CN Mobile HK SDR 5to1

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The three major telecom operators have found a new narrative, but the tokens aren't selling so well.

China Mobile International plans to connect Central Asia's terrestrial cables to Hong Kong's submarine network, enhancing data transmission efficiency. The initiative aims to support mainland Chinese firms entering the region, leveraging Hong Kong's dense submarine cable infrastructure. An additional route through Kazakhstan and Uzbekistan is in development, creating a secure digital bridge between Asia and Europe. The project responds to rising digitalisation demands in Central Asia, where 5G services were recently launched. China Mobile will also assist Chinese enterprises with global expansion through comprehensive solutions.

SCMP

China Mobile plans fresh Central Asia link to Hong Kong submarine cable network

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Yesterday's closing, YS DIGIFAVOR's stock price rose slightly by 1.48%, with a trading volume of approximately HKD 620,000, showing overall stable performance and low volatility. The daily MACD formed a golden cross signal above the zero axis, indicating a bullish mid-term trend direction, but there is a lack of significant volume breakout in the short term. The current stock price is operating near the short-term moving average, with a temporary balance between bullish and bearish forces, placing the market at a critical stage of directional choice. The low trading volume suggests that market attention has not significantly increased, and signal confirmation still requires subsequent volume support. From the industry background, the telecommunications service sector has recently benefited from the ongoing expansion of AI infrastructure construction. NVIDIA's latest financial report shows that its data center business has nearly doubled, and the explosion in global computing power demand has directly driven investment in communication networks and data transmission infrastructure. China Mobile fell slightly by 0.58% yesterday, but its trading volume exceeded HKD 1.5 billion, with the sector leader maintaining a high-level oscillation pattern, indicating that there is still a willingness to allocate funds to telecommunications infrastructure. Although YS DIGIFAVOR is relatively small in size, its layout in the digital service field is expected to benefit from the overall growth trend of the industry. From a technical perspective, the appearance of the golden cross signal above the zero axis provides a bullish reference for the mid-term direction, but the current core contradiction lies in insufficient volume. The daily trading volume of only HKD 620,000 makes it difficult for the stock price to exhibit significant trend movements. If there is a subsequent volume breakout that doubles to over a million, the effectiveness of the golden cross signal will be greatly enhanced. Conversely, continued shrinking volume may lead to the stock price remaining in a long-term sideways range within the current interval

Technical Forecast

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Guotai CSI All Share Communications Equipment ETF

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NVIDIA Corporation

Pre-market trend | YS DIGIFAVOR (3773.HK) slightly rose 1.5% on 5/21 with reduced volume consolidation, are telecom stocks building momentum for a change?

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0521 | Dolphin Research Focus: Stock 1, $SpaceX(SPCX.US). SpaceX has formally filed an S-1 with the SEC to list on Nasdaq (ticker SPCX).The implied valuation range is $1.75–2.0tn, and the deal could raise up to $75bn, potentially the largest IPO on record. Q1 2026 revenue was $4.69bn, with a net loss of $4.28bn.Its AI biz remains in the investment phase. The company will adopt a dual-class share structure, with Elon Musk holding Class B shares...

SpaceX Files Prospectus; TSLA's Supervised FSD to Enter China | Daily News Recap

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Citi's report highlights a significant shift among China's major telecom operators—China Telecom, China Mobile, and China Unicom—toward AI Token plans, moving from traditional billing to a utility-like AI subscription model. This transition could lead to a valuation re-rating as telecoms leverage their networks and data centers for AI applications. However, the success of this model hinges on user adoption and the competitiveness of their proprietary AI models.

AASTOCKS News

China Southern CSI Communication Service ETF

Harvest CNI Communication ETF

ChinaAMC CSI 5G Communication ETF

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Citi: "Telecom Big Three" Shift Toward Foundational AI Infrastructure Suppliers, Ushering in Potential Valuation Re-rating

China's telecom giants, China Telecom, China Mobile, and China Unicom, are transitioning to the AI token economy by launching token-based service plans. This shift marks a departure from traditional pricing models, focusing on monetizing AI services and tokenized consumption. China Telecom has introduced various token packages, while China Mobile and China Unicom are developing regional partnerships and AI-driven offerings. The surge in token usage, from 100 billion to 140 trillion daily, highlights the industry's pivot towards token operations as a new growth strategy.

TechNode

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Tencent HK SDR 10to1

Tencent Holdings Limited

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Alibaba HK SDR 5to1

China’s three telecom giants race into the AI token economy

JPMorgan has rated the three major Chinese telecom stocks—CHINA MOBILE, CHINA TELECOM, and CHINA UNICOM—as Overweight, following a rise in H-share prices due to AI Token packages targeting SMEs and retail users. CHINA MOBILE is the top pick, while CHINA TELECOM is seen as a proxy for the AI Token theme, with expectations of significant revenue growth from its cloud business. The bank anticipates ARPU growth resuming in 2026 and earnings recovery in 2027, despite VAT adjustments impacting 2026.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM: CHINA TELECOM  Proxy for AI Token Theme; Three Major Telecoms Rated Overweight, CHINA MOBILE Top Pick

UBS reports that China Telecom, China Unicom, and China Mobile have launched Token packages for customers, enhancing AI adoption. China Telecom leads with nationwide rollout, while the others pilot regionally. This move is seen as a step towards standardizing AI consumption in China, potentially transforming Token usage into a subscription model. Despite muted stock performance, UBS views these packages as a new growth driver, assigning a 'Neutral' rating to the telecom stocks.

UBS Group AG

UBS: 3 Key CN Telecoms Launch Token Packages, Providing New Growth Drivers

China's telecom giants are introducing AI token plans to monetize the AI boom, moving away from traditional gigabyte billing. China Telecom launched nationwide token-based pricing packages for consumers and businesses, with prices ranging from 9.9 yuan for 10 million tokens to 299.9 yuan for 250 million tokens. Other carriers like China Unicom and China Mobile are also adopting similar strategies. The demand for AI tokens has surged, with over 140 trillion token calls recorded daily in March.

KNOWLEDGE ATLAS

Forget cellular data: China’s telecoms giants are selling AI token plans

CHINA TELECOM has launched trial commercial Token plans starting from RMB9.9 per month for individual customers and RMB39.9 for developers. The plans offer integrated services including Token, connectivity, and security, supporting various applications like AI programming and content creation. Additionally, the company will introduce Tianyi Token Coin for customer rewards and expand Token benefits through partnerships with AI ecosystem partners.

CHINA TELECOM Unrolls Commercial Token Plans with Monthly Fee Starting from RMB9.9

JP-CMOB@EC2611A(29520.HK)