从营业收入来看，通信设备整体24Q4和25Q1营收同比增长2.9%和12.9%，自23Q4开始反转恢复增长，并且23Q4-24Q3行业增速不断拉大，反映行业新旧动能切换完成，AI算力成为拉动行业增长的新引擎。

通信行业2024年营业收入为26,584.67亿元，同比上升3.93%，扣非后归母净利润为1,916.50亿元， 同比上升5.65%，增速较上年同期上升3.25个百分点。

Helicopter tourism is a new dimension of the tourism industry that allows passengers/tourists to reach spots difficult to reach by other means of transport and to enjoy views of tourist destinations from the air.

A biologics contract development and manufacturing organization (CDMO) is defined as a contract development and manufacturing company for pharmaceutical products. Mostly, pharmaceutical companies partner with CDMOs to outsource drug development and manufacturing. Generally, CDMOs offer value chain services such as formulation, analytical services, blending, coating, converting, packaging, serialization, and shipment.

社会服务行业：规模与格局，逆周期下的连锁化浪潮－连锁餐饮行业框架

社会服务行业：端午将至，中短距离出行或为主流－双周报

社会服务行业：端午短途出游占主导，入境游保持火热－6月投资前瞻

宠物行业：宠物经济支出稳步提升，看好宠物服务板块－深度报告