CHINA TELECOM's stock experienced a significant intraday surge, rising by 5.08% on Monday.

The rally is attributed to the company's strategic pivot into the AI era, marked by the official nationwide launch of its trial commercial Token subscription packages. This initiative represents a fundamental shift in operator billing models from traditional data-traffic management to Token-based pricing for AI model services.

Further catalyzing investor sentiment was the announcement of a landmark AI service procurement project by China Telecom's Ningxia subsidiary, with a total scale of RMB 174.38 billion. This procurement, described as the largest of its kind in domestic telecom history, is part of the "Token Factory" initiative expected to deliver 3 trillion Tokens per month. Analysts highlight the project's potential for high gross margins and its role as a new revenue engine, prompting a market re-evaluation of the company's valuation framework.