Group 1 - The core viewpoint of the news is that the optical communication concept stocks in Hong Kong have seen significant price increases, with some stocks reaching historical highs, indicating strong market interest and potential growth in this sector [1][2]. - The stock performance includes notable gains: Changfei Fiber Optics increased by 9.02% with a market cap of 97.03 billion, FIT HON TENG rose by 8.39% with a market cap of 45.283 billion, and Huiju Technology grew by 4.58% with a market cap of 35.775 billion [2]. - A rumor regarding a new supply chain model for overseas CSP clients, which involves bypassing optical module assembly factories, caused a temporary drop in the optical module sector; however, Zhongji Xuchuang clarified that there is no such practice of bypassing intermediaries [2]. Group 2 - A report from CITIC Securities indicates that four North American CSP manufacturers have shown strong growth in capital expenditures, with optimistic forecasts for 2026 from major companies like Amazon, Google, and Meta, driven by high demand for AI and tight supply of computing power [3]. - The report suggests that the current phase of AI development is still in its early stages, and that the construction of computing infrastructure is slightly ahead of the industry's typical development patterns, maintaining a positive outlook on the overseas AI computing supply chain [3].

Core Viewpoint - The optical communication sector is experiencing significant stock price increases, driven by strong capital expenditure growth from North American CSPs and a refutation of supply chain rumors by Zhongji Xuchuang [1] Group 1: Stock Performance - Hongteng Precision (06088) rose by 10.49%, trading at 6.32 HKD - Changfei Fiber Optic Cable (06869) increased by 9.95%, trading at 118.2 HKD - Huiju Technology (01729) saw a rise of 7.3%, trading at 18.51 HKD - Cambridge Technology (06166) grew by 2.91%, trading at 70.75 HKD [1] Group 2: Market Rumors and Responses - Recent rumors suggested that overseas CSP clients are attempting a new supply chain model, bypassing optical module assembly factories to order directly from upstream chip manufacturers like Lumentum [1] - Zhongji Xuchuang publicly denied these rumors, stating that there is no situation of clients directly ordering from the company while bypassing intermediaries [1] Group 3: Capital Expenditure Insights - A report from CITIC Securities indicates that four North American CSPs announced strong capital expenditure growth for Q4 2025 - During earnings calls, these companies expressed a strong demand for AI and noted a tight supply of computing power - Companies like Amazon, Google, and Meta provided optimistic capital expenditure guidance for 2026, exceeding market expectations - CITIC Securities believes that the industry is still in the early stages of AI development, and that the construction of computing infrastructure is appropriately ahead of demand, maintaining a positive outlook on the overseas AI computing chain [1]

Core Insights - Tencent Holdings (00700), Southern Hang Seng Technology (03033), and Xiaomi Group-W (01810) ranked as the top three in net inflow of southbound funds, with net inflows of 1.792 billion, 0.571 billion, and 0.412 billion respectively [1] - The top three in net outflow of southbound funds were Yingfu Fund (02800), Hang Seng China Enterprises (02828), and Kuaishou-W (01024), with net outflows of -4.553 billion, -1.380 billion, and -0.576 billion respectively [1] - In terms of net inflow ratio, Huaxia Hang Seng Technology (03088), Southern East Selection (03441), and Anhui Wantuo Expressway (00995) led the market with ratios of 90.53%, 74.02%, and 68.27% respectively [1] - The top three in net outflow ratio were Southern Hong Kong Stock Connect (03432), Fuyao Glass (06865), and Baize Medical (02609) with ratios of -100.00%, -59.27%, and -53.09% respectively [1] Net Inflow Rankings - Tencent Holdings (00700) had a net inflow of 1.792 billion, representing a 12.21% increase, closing at 560.000 (+2.28%) [2] - Southern Hang Seng Technology (03033) saw a net inflow of 0.571 billion, with a 6.77% increase, closing at 5.300 (+1.34%) [2] - Xiaomi Group-W (01810) recorded a net inflow of 0.412 billion, with a 9.45% increase, closing at 35.200 (+0.06%) [2] Net Outflow Rankings - Yingfu Fund (02800) experienced the highest net outflow of -4.553 billion, with a -22.13% decrease, closing at 27.220 (+1.72%) [2] - Hang Seng China Enterprises (02828) had a net outflow of -1.380 billion, representing an -11.37% decrease, closing at 93.940 (+1.56%) [2] - Kuaishou-W (01024) faced a net outflow of -0.576 billion, with a -10.25% decrease, closing at 69.300 (-2.74%) [2] Net Inflow Ratio Rankings - Huaxia Hang Seng Technology (03088) led with a net inflow ratio of 90.53%, with a net inflow of 47.6883 million, closing at 6.875 (+1.33%) [3] - Southern East Selection (03441) followed with a net inflow ratio of 74.02%, with a net inflow of 18.0421 million, closing at 11.600 (+1.13%) [3] - Anhui Wantuo Expressway (00995) had a net inflow ratio of 68.27%, with a net inflow of 5.6553 million, closing at 13.340 (-0.07%) [3]

Core Viewpoint - The optical communication sector in the Hong Kong stock market is experiencing significant gains, with multiple companies showing strong stock price increases on February 9. Group 1: Company Performance - Changfei Fiber Optics (06869.HK) saw a stock price increase of 16.3%, reaching HKD 105.6 [1] - Hong Teng Precision (06088.HK) rose by 9.89%, with a stock price of HKD 5.22 [1] - Huiju Technology (01729.HK) experienced a 7.95% increase, trading at HKD 17.66 [1] - Cambridge Technology (06166.HK) increased by 6.47%, with a stock price of HKD 73.25 [1]

光通信概念持续走强，截至发稿，长飞光纤（601869）光缆(06869)涨16.3%，报105.6港元；鸿腾精密 (06088)涨9.89%，报5.22港元；汇聚科技(01729)涨7.95%，报17.66港元；剑桥科技（603083）(06166)涨 6.47%，报73.25港元。 中信建投（601066）研报指出，2026年AI算力需求旺盛，北美CSP资本开支依旧乐观。继续看好AI算力 产业链，特别是业绩能见度较高的光模块产业链。此外，光纤光缆行业已从复苏转向量价齐升阶段，继 续推荐。中信证券认为，在技术快速演进的过程中，行业龙头依托技术积淀与创新能力，将持续巩固技 术领先优势并引领产业升级方向，重点推荐国内外光通信龙头。维持通信行业"强于大市"评级。 消息面上，近期Meta、亚马逊、谷歌和微软公布了最新财报，显示它们今年的资本支出总额可能达到 6600亿美元。基于此，英伟达首席执行官黄仁勋近期表示，科技行业在人工智能基础设施上激增的资本 支出是合理、适当和可持续的。黄仁勋还称AI基础设施建设仍处于早期阶段，未来几年内需求将持续 旺盛。此外，工信部发布《关于开展国家算力互联互通节点建设工作的通知》，面向国 ...

Group 1 - The optical communication sector is experiencing strong growth, with notable stock price increases for companies such as Changfei Fiber Optics (up 16.3%), Hong Teng Precision (up 9.89%), Huiju Technology (up 7.95%), and Cambridge Technology (up 6.47%) [1] - Major tech companies including Meta, Amazon, Google, and Microsoft are projected to have a total capital expenditure of $660 billion this year, indicating robust investment in AI infrastructure [1] - Nvidia's CEO Jensen Huang stated that the surge in capital expenditure for AI infrastructure in the tech industry is reasonable, appropriate, and sustainable, with demand expected to remain strong in the coming years [1] Group 2 - CITIC Securities reports that by 2026, AI computing power demand will be strong, and North American CSP capital expenditure remains optimistic, particularly for the optical module industry chain [2] - The optical fiber and cable industry has transitioned from recovery to a phase of simultaneous volume and price growth, with continued recommendations for investment [2] - Industry leaders are expected to maintain their technological advantages and lead the direction of industry upgrades due to rapid technological advancements [2]

Core Viewpoint - The optical communication sector is experiencing a significant decline, with major stocks such as Changfei Fiber Optics and Huahong Semiconductor seeing notable drops in their share prices [1] Group 1: Stock Performance - Changfei Fiber Optics (06869) decreased by 6.91%, trading at 86.2 HKD [1] - Huahong Semiconductor (01347) fell by 4.2%, with a price of 98.1 HKD [1] - Huiju Technology (01729) dropped by 3.86%, now at 16.93 HKD [1] - Cambridge Technology (06166) declined by 3.06%, priced at 71.25 HKD [1] - Hong Teng Precision (06088) decreased by 2.87%, trading at 4.74 HKD [1] Group 2: Industry Outlook - Guotai Junan Securities reported that the performance forecast for 2025 has concluded, and the appreciation of the RMB will impact the optical interconnection sector, particularly for companies focused on overseas exports [1] - The overall profit impact from provisions and exchange rate adjustments is estimated to be within 5%, but some companies may see nearly half of their profits affected [1] - For 2026, the industry is expected to show individual differences, but the overall situation remains manageable [1] - The market for pluggable components is anticipated to continue improving from 2026 to 2027, with new packaging and material technologies beginning to materialize, presenting marginal change opportunities worth monitoring [1]

Group 1 - The Hong Kong stock market saw a decline in optical communication concept stocks, with all listed companies in this sector experiencing losses [1] - Changfei Fiber Optics (06869.HK) dropped by 6.91%, trading at 86.2 HKD [1] - Huahong Semiconductor (01347.HK) fell by 4.2%, with a current price of 98.1 HKD [1] - Huiju Technology (01729.HK) decreased by 3.86%, now priced at 16.93 HKD [1] - Cambridge Technology (06166.HK) saw a decline of 3.06%, trading at 71.25 HKD [1] - Hongteng Precision (06088.HK) experienced a drop of 2.87%, with a price of 4.74 HKD [1]

Core Viewpoint - The optical communication sector is experiencing a significant decline, with major stocks such as Changfei Optical Fiber and Huahong Semiconductor seeing notable drops in their share prices. The overall market sentiment appears to be negative, influenced by currency fluctuations and profit warnings from companies in the sector [1] Group 1: Stock Performance - Changfei Optical Fiber (601869) has decreased by 6.91%, trading at 86.2 HKD [1] - Huahong Semiconductor (01347) has fallen by 4.2%, currently at 98.1 HKD [1] - Huiju Technology (01729) is down by 3.86%, priced at 16.93 HKD [1] - Cambridge Technology (603083) has dropped by 3.06%, now at 71.25 HKD [1] - Hong Teng Precision (06088) has seen a decline of 2.87%, trading at 4.74 HKD [1] Group 2: Industry Outlook - According to Guotai Junan Securities, the performance forecast for 2025 has concluded, and the appreciation of the RMB is impacting the optical interconnection sector, particularly for companies focused on overseas exports [1] - The average potential impact on profits due to provisions and exchange rate fluctuations is estimated to be within 5%, although some companies may face impacts close to 50% of their profits [1] - Looking ahead to 2026, while individual company performance may vary, the overall outlook for the industry remains manageable [1] - The market for pluggable solutions is expected to continue improving, with new packaging and material technologies beginning to materialize, presenting opportunities for marginal changes [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 鴻騰六零八八精密科技股份有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06088 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 15,360,000,000 | USD | 0.01953125 | USD | | 300,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 15,360,000,000 | USD | 0.01953125 | USD | | 300,000,000 | 本月 ...