[J.P. Morgan: Maintains Positive Outlook on Three Major Chinese Telecom Stocks, Top Pick is China Mobile] J.P. Morgan released a report stating that the three major Chinese telecom stocks saw their H-share prices rise yesterday due to the launch of AI Token packages targeting SMEs and retail users. This reflects investors' optimism about telecom operators benefiting from AI monetization in the real economy. The bank maintains a positive outlook on China Mobile, China Telecom, and China Unicom, all rated as 'Overweight.' The bank believes that AI monetization and the improvement in the 'involution' of telecom services are expected to drive ARPU growth starting in 2026, with profits recovering in 2027, though 2026 may be impacted by VAT adjustments. Among the three telecom stocks, J.P. Morgan's top H-share pick remains China Mobile, followed by China Telecom and China Unicom. (Sina Finance)