In a recent research report by Huatai Securities, the coalition agreement of the newly formed German government (April 10 version) has introduced adjustments to the rules governing access to critical infrastructure. The new guidelines stipulate that only trusted components must be installed in sensitive areas, marking a significant shift from the previous version (April 9) which referred to "trusted national components." Notably, Chinese communication equipment providers are no longer explicitly excluded, suggesting a potential inclusion in Germany's critical infrastructure development. This change bodes well for leading domestic communication equipment enterprises, who are anticipated to maintain their involvement in Germany's 5G construction endeavors. Given Europe's relatively low 5G penetration rate and substantial construction potential, the domestic 5G equipment industry chain stands to benefit from the recovery opportunities fueled by overseas markets.