Core Viewpoint - Hengtong Optic-Electric (600487.SH) has completed over half of its share repurchase plan, with Hengtong Group increasing its stake in the company by 100,000 shares, representing 0.0041% of the total share capital [1] Group 1 - Hengtong Group's total shareholding in Hengtong Optic-Electric is now 586,329,925 shares, accounting for 23.77% of the total share capital [1] - Including its concerted actions, Hengtong Group and its affiliates hold a total of 681,624,358 shares, which is 27.63% of the total share capital [1] - The total amount spent by Hengtong Group on the share repurchase is 2.28 million yuan, excluding transaction fees [1]

证券代码：600487 证券简称：亨通光电 公告编号：2025-039 号 江苏亨通光电股份有限公司 关于控股股东增持公司股份时间过半暨增持计划进展公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 已披露增持计划情况 基于对江苏亨通光电股份有限公司（以下简称"公司"）未来发展的信心和 对公司价值的认可，提振投资者信心，切实维护投资者利益，促进公司持续、稳 定、健康发展,公司控股股东亨通集团有限公司（以下简称"亨通集团"）拟增持 公司股份，增持金额拟不低于 1.5 亿元(含)、不超过 3 亿元(含)，具体内容详见 公司 2025 年 4 月 10 日于上海证券交易所网站（www.sse.com.cn）披露的《公司 关于控股股东增持公司股份计划的公告》（公告编号：2025-008 号）、2025 年 4 月 25 日于上海证券交易所网站（www.sse.com.cn）披露的《亨通光电关于控股 股东增持公司股份计划的进展公告》（公告编号：2025-012 号），以及公司 2025 年 9 月 24 日于 ...

Core Viewpoint - Hengtong Group, the controlling shareholder of Hengtong Optic-Electric, has announced a share buyback plan with a commitment to invest between 150 million and 300 million yuan from April 10, 2025, to April 9, 2026 [1] Summary by Sections - **Share Buyback Plan** Hengtong Group's buyback plan is set to run from April 10, 2025, to April 9, 2026, with an investment range of 150 million to 300 million yuan [1] - **Current Progress** As of October 9, 2025, over half of the plan's duration has elapsed, during which Hengtong Group has cumulatively acquired 100,000 shares through centralized bidding, representing 0.0041% of the company's total share capital, with a transaction amount of 2.28 million yuan [1] - **Shareholding Structure** Following the buyback, Hengtong Group's total shareholding has reached 586 million shares, accounting for 23.77% of the company, while the combined shareholding with concerted actors stands at 27.63% [1]

Group 1 - The "Second Golden Unicorn Best Investment Advisor Selection" event is currently ongoing, with over 3,000 professional investment advisors participating in simulated trading competitions [1] - The event aims to provide a platform for investment advisors to showcase their capabilities, expand services, and enhance skills, thereby promoting the healthy development of China's wealth management industry [1] Group 2 - On October 9, the top ten stocks by purchase frequency in the stock group included companies such as Xiechuang Data (sz300857) and Lankai Technology (sh688008) [2] - The top ten stocks by purchase amount on the same day featured companies like SMIC (sh688981) and Lankai Technology (sh688008) [3] - The data for the top ten buy stocks/ETFs is based on the frequency of purchases by all participating contestants, while the top ten by purchase amount reflects the highest monetary investments [4]

Core Viewpoint - Hengtong Optic-Electric announced the release of 30 million shares of unrestricted circulating stock pledged to the Industrial and Commercial Bank of China, Suzhou Yangtze River Delta Integration Demonstration Zone Branch [2] Group 1 - The controlling shareholder, Hengtong Group Co., Ltd., has completed the pledge release procedure for the shares [2]

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the communication industry [10] Core Insights - The communication equipment sector experienced a revenue growth of 12.7% year-on-year in Q2 2025, indicating a recovery since Q4 2023, with AI computing power driving this growth [2] - The overall net profit for communication equipment in Q2 2025 increased by 19.0% year-on-year, reflecting strong profitability amid the transition to new growth drivers [2] - The report emphasizes the sustained high growth potential in the optical communication sub-sector, driven by global AI demand [3] Financial Summary and Outlook - The optical device sub-sector saw a remarkable revenue increase of 72.81% year-on-year in Q2 2025, with net profit growth of 133.5%, indicating a robust demand for optical modules fueled by AI [3] - The Internet of Things (IoT) sector continues to show good revenue growth, validating the ongoing recovery trend, with companies benefiting from the long-term trend of interconnected devices [3] - The optical fiber and cable sub-sector reported a revenue growth of 16.5% year-on-year in Q2 2025, although net profit declined by 9.6% [3] - The IDC & CDN sector faced a revenue decline of 9.2% year-on-year in Q2 2025, marking four consecutive quarters of revenue decline [4] - The main equipment sector showed a revenue turnaround with a growth of 9.1% and 16.5% in Q1 and Q2 2025 respectively, driven by strong demand for computing power [4] - The satellite industry reported a revenue of 1.12 billion yuan in Q2 2025, down 17.0% year-on-year, but is expected to enter a growth phase as satellite internet networks develop [4] - The Beidou and military communication sector experienced a revenue decline of 7.1% year-on-year in Q2 2025, but long-term growth is anticipated with new equipment entering service [5] Investment Recommendations - The report suggests focusing on investment opportunities in "AI + Overseas Expansion + Satellite" core targets, particularly in optical modules and devices, as well as domestic computing power lines [6] - Key recommended stocks include Zhongji Xuchuang, Tianfu Communication, and Zhongtian Technology, among others, with a focus on AI-related sectors [7][14]

证券代码：600487 证券简称：亨通光电 公告编号：2025-038 号 江苏亨通光电股份有限公司 关于控股股东部分股权解除质押公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 公司于 2025 年 9 月 30 日收到亨通集团关于部分股份解除质押的通知，具体情况如下： （一）本次股份解质基本情况 2025 年 9 月 29 日，亨通集团将其质押给中国工商银行股份有限公司苏州长三角一体化 示范区分行的 3,000 万股无限售流通股办理了质押解除手续，该股份质押解除手续已于 2025 年 9 月 30 日办理完毕。本次股份解除质押情况具体如下： 重要内容提示： 江苏亨通光电股份有限公司（以下简称"公司"）控股股东亨通集团有限公司（以下 简称"亨通集团"）持有公司股份 586,329,925 股，占公司总股本的比例 23.77%；截至本公 告披露日，亨通集团持有公司股份累计质押数量（含本次）320,050,000 股，占其持股数量的 比例为 54.59%，占公司总股本的比例为 12.97%。 一、 公司股份解质情况 | ...

Core Insights - The light counting predicts that the market size for 800G Ethernet optical modules will exceed that of 400G by 2025, and the overall market for 800G and 1.6T optical modules will surpass $16 billion by 2029 [1] - The global optical communication industry is undergoing a structural transformation driven by AI, with unprecedented growth rates expected [1] - Hengtong Optic-Electric is positioned as a leading enterprise in China's optical communication industry, showcasing comprehensive technology layout and innovative vision at the 2025 PT Exhibition [1] Industry Trends - The demand for transmission bandwidth is increasing exponentially due to the rapid growth of AI-driven data centers and large-scale GPU clusters [1] - The "East Data West Computing" project is driving the upgrade of backbone networks, creating significant demand for the renovation of outdated networks [1] - The industry is transitioning from "quantitative change" to "qualitative change," with AI infrastructure and internationalization presenting unique opportunities [1] Company Developments - Hengtong Optic-Electric showcased its achievements in various fields, including high-speed optical modules and cross-data center interconnection solutions at the PT Exhibition [2] - The company has made significant progress in the marine communication sector, with over 108,000 kilometers of new submarine cables constructed [2] - Hengtong aims to become a global leader in information and energy interconnection solutions, focusing on AI computing infrastructure and integrated communication across air, land, and sea [2] Future Outlook - The company plans to enhance its supply capacity for high-end specialty optical fibers and modules to meet the explosive growth in AI computing demand [2] - Hengtong will continue to increase R&D investment and leverage synergies across its business segments to innovate in communication technologies [2] - The optical communication industry is poised for unprecedented development opportunities driven by the AI wave, with Hengtong playing a crucial role in this transformation [2]

Market Performance - On September 29, the communication equipment sector rose by 1.31%, with Sanwang Communication leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Individual Stock Performance - Notable performers included: - Sanwang Communication (688618) with a closing price of 26.97, up 7.11% on a trading volume of 33,500 shares [1] - Kunheng Shunwei (688283) closed at 33.49, up 6.69% with a volume of 29,500 shares [1] - Youfang Technology (651889) at 71.85, up 6.65% with a volume of 75,400 shares [1] - Other significant gainers included Shijia Technology (002796), ST Jinglun (600355), and Guangku Technology (300620) [1] Capital Flow Analysis - The communication equipment sector experienced a net outflow of 1.666 billion yuan from institutional investors and 153 million yuan from speculative funds, while retail investors saw a net inflow of 1.819 billion yuan [2] - Key stocks with significant capital flow included: - New Yisheng (300502) with a net inflow of 500 million yuan from institutional investors, but a net outflow of 322 million yuan from speculative funds [2] - Other stocks like Guangku Technology (300620) and Dekeli (688205) also showed mixed capital flows [2]

责任编辑：小浪快报 亨通光电所属申万行业为：通信-通信设备-通信线缆及配套。所属概念板块包括：光纤光缆、液冷概 念、CPO概念、光通信、5G等。 截至6月30日，亨通光电股东户数16.17万，较上期减少11.80%；人均流通股15118股，较上期增加 13.38%。2025年1月-6月，亨通光电实现营业收入320.49亿元，同比增长20.42%；归母净利润16.13亿 元，同比增长0.24%。 分红方面，亨通光电A股上市后累计派现26.14亿元。近三年，累计派现11.21亿元。 机构持仓方面，截止2025年6月30日，亨通光电十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股6450.46万股，相比上期增加1018.31万股。南方中证500ETF（510500）位居第四大流通股 东，持股2933.48万股，相比上期增加383.46万股。广发高端制造股票A（004997）位居第七大流通股 东，持股1627.22万股，相比上期增加331.28万股。交银精选混合（519688）退出十大流通股东之列。 9月29日，亨通光电盘中上涨2.02%，截至09:59，报23.24元/股，成交7.11亿元，换手率1. ...