China Securities Co.,Ltd. research reports indicate that after the construction of the 5G network, following the concept of moderately advanced infrastructure construction, the new generation of communication infrastructure will gradually start construction work, focusing on areas such as 5G-A, satellite communication, FTTR. In addition, the prosperity of the computing power industry chain continues. Overseas computing power industry chain mainly focuses on demand growth and new technology applications, while the domestic computing power industry chain mainly benefits from the increase in the proportion of domestic applications, and all segments of the industry chain are expected to benefit.