China Securities Co.,Ltd. research reports believe that after the construction of the 5G network, adhering to the concept of moderately advanced infrastructure construction, the new generation communication infrastructure will gradually begin construction, focusing on areas such as 5G-A, satellite communications, FTTR. In addition, the prosperity of the computing power industry chain continues, with the overseas computing power industry chain mainly focusing on demand growth and new technology applications, while the domestic computing power industry chain mainly benefits from the increase in the proportion of localized applications, with each link of the industry chain expected to benefit.