HK Stock Market Move | Telecom stocks collectively rose, as the three major operators are transforming towards token management, which is expected to boost overall token consumption.

Telecom stocks collectively rose, and at the time of writing, China Telecom Corporation (00728) was up 3.96%, trading at HKD 4.72; China United Network Communications (00762) was up 1.6%, trading at HKD 6.365; and China Mobile Limited (00941) was up 1.17%, trading at HKD 82.15. In terms of news, the three major telecom operators are transitioning from traffic business to Token business. China Telecom Corporation is launching Token service products uniformly at the group level, aimed at developers, small and medium enterprises, as well as individual and household users. China United Network Communications has introduced standardized Token packages on its Unicom Cloud website. China Mobile Limited is piloting Token packages in several regions. The transition from provincial trials to group-level coordination, and from a single billing approach to ecological adaptation, is becoming a consensus in the telecom industry. Northeast pointed out that the three major telecom operators are fully implementing standardized Token services, leveraging their national cloud network resources, government-enterprise channels, and vast user base. The involvement of operators is reshaping the service model of the industry, with computing power no longer being a specialized underlying resource exclusive to leading tech companies. Instead, it is being transformed into inclusive basic services for small and medium enterprises and individual developers, lowering the customer threshold and driving an increase in overall Token consumption.