Telecommunications industrial value chain is the innovation business model of the telecommunications units under the circumstances of technology advancement, network and services integration. The stability and evolution of telecommunications industrial value chain is the key factor for the harmonious development of the telecommunications industry. This paper analyzes some disharmonious phenomena of the evolution of the telecommunications industry and considers the telecommunications industrial value chain as an organic life system which all units form hypercyclic structure based on value creation. It analyzes self-replicative capabilities of each unit, mutual coupled capabilities among the units and aberrance and selective capabilities which the stable development of system structure depends on, reflects evolutionary mechanism which the telecommunications industrial value chain increase the efficiency of value creation and provides theory foundation for the policy making and strategic plan of the telecommunications industrial value chain.