According to htsc's research reports, recently disclosed public fund 2024 second-quarter reports showed that, according to statistics, the top ten heavy-weighted stocks of public funds in the second quarter of 2024 in the communication sector of A-shares accounted for 3.94% of the holdings, an increase of 0.71 percentage points compared to the previous quarter, demonstrating a continuous upward trend. The over-allocation ratio for the second quarter of 2024 was 1.49%, up 0.64 percentage points from the first quarter. In the second quarter of 2024, public funds increased holdings in optoelectronics, sea cable, cloud office, and internet of things sectors, while reducing holdings in military communications, wireless main equipment, and other sectors. In terms of valuation, as of July 19, 2024, the communication (Shenwan) P/E ratio TTM was 29.28x, which is at the 5.8th percentile of historical data from early 2011 to now. The development prospects of the three major operators and the AI computing power chain are continuously bullish, while the industrial opportunities of satellite internet, low-altitude economy, and vehicle-road cloud integration are also bullish.