人工智能（AI）应用的加速发展推动智算算力建设进入快车道，带动数据中心内部及核心节点间高速 互联对新型光纤的需求显著上升。中信建投证券认为，2025年第三季度以来，中国市场光纤价格持续上 涨，反应需求向好、整体供应偏紧。海外需求旺盛，出口表现强劲，反映了全球光纤光缆市场的旺盛需 求。光纤光缆行业经历了2019年供需失衡，价格暴跌，此次厂商扩产会相对理性，另外光棒等环节扩产 周期较长。此轮需求回暖叠加价格上涨，行业内的龙头公司可能盈利与估值双提升。证券时报·数据宝 统计，A股市场涉及光纤光缆行业的公司数量较少，合计不到20家。截至1月28日收盘，今年以来光纤 光缆概念股平均上涨9.72%，跑赢同期上证指数5个百分点以上。6股累计涨幅超10%，分别为亨通光 电、烽火通信、中天科技、锐科激光、长飞光纤、通鼎互联。 ...

格隆汇1月28日｜A股市场CPO概念股多数上涨，截至半日收盘，可川科技10CM涨停，太辰光涨超 8%，长芯博创、长飞光纤、中富电路、德科立涨超6%，亨通光电涨超5%，华天科技涨超4%，长电科 技、衡东光、中天科技涨超3%，中际旭创涨2.5%。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 603052 | 可川科技 | -06- | 9.99 | 117亿 | 96.74 | | 300570 | 太辰光 | 演 | 8.97 | 260亿 | -0.94 | | 300548 | 长芯博创 | 1 | 6.99 | 429 Z | 3.68 | | 601869 | 长飞光线 | 1 | 6.64 | 1118亿 | 16.02 | | 300814 | 中富电路 | | 6.57 | 146亿 | 2.92 | | 688205 | 德科立 | 被 | 6.55 | 236亿 | 8.45 | | 600487 | 享通光电 | 4 | 5.15 | 826亿 | 35.46 | | 002185 ...

Summary of Conference Call Notes Industry and Company Involved - The focus is on the **fiber optic cable** and **AIDC (Artificial Intelligence Data Center)** sectors, with specific mention of companies like **Changfei Fiber**, **Hengtong Optic-Electric**, **Zhongtian Technology**, and **Fenghuo Communication**. Core Points and Arguments - **Fiber Optic Price Surge**: The price of fiber optics has significantly increased due to rising demand from operators and AI, particularly driven by overseas data center construction for the 657A1 type fiber. The supply remains tight due to low willingness from domestic and foreign manufacturers to expand production and a contraction in supply caused by bankruptcies in the industry [1][4][5]. - **Impact of AWS Price Increase**: AWS's decision to raise GPU capacity block prices indicates a potential increase in AI cloud infrastructure costs, which is favorable for the domestic AI industry chain. The H200 incident's impact is diminishing, and the development of domestic computing cards is driving AIDC demand [1][8]. - **AIDC Market Dynamics**: Recent changes in the AIDC sector include some companies increasing delivery volumes, leading to a tight supply-demand balance. If demand continues to grow and energy consumption is strictly controlled, prices may rise. Notably, AIGC prices in Hong Kong have surged significantly, with some companies receiving demand guidance for 2027 that is several times that of 2024 and 2025 [1][11]. - **Investment Recommendations**: Short-term investment suggestions prioritize AI giants (Alibaba, Tencent, ByteDance), followed by AIDC (data centers, liquid cooling, power supply), then network components (switches, chips, optical modules, copper connections), and finally computing (chips, servers, server power supplies) [1][13]. Other Important but Potentially Overlooked Content - **Performance of Related Companies**: Companies like Changfei Fiber, Hengtong Optic-Electric, Zhongtian Technology, and Fenghuo Communication are expected to benefit significantly from the current price increases in fiber optics, with leading firms' cost prices between 14-15 yuan and second-tier firms at 17-18 yuan, indicating substantial profit margins [1][6]. - **Monitoring Factors for Fiber Market Trends**: Key factors to watch include upcoming telecom procurement and the impact of AI on the prices of 652D and 657A1 fiber types. Continuous tracking of the industry chain is crucial due to the unpredictable nature of raw material prices [1][7]. - **Future AIDC Developments**: The growth of domestic computing cards is directly linked to increased demand for data center infrastructure, with major brands like Huawei and Alibaba having significant needs. The successful distribution of H200 cards could further benefit the domestic AI and computing chains [1][10]. - **Investment Focus in Communication Sector**: Investors should pay close attention to the satellite communication sector, AIDC, domestic AI chains, and fiber optic sectors, as these areas are experiencing significant short-term marginal changes [1][14].

上市企业：长飞光纤(601869),特发信息(000070),中天科技(600522),亨通光电(600487) 相关报告：智研咨询发布的《2026-2032年中国电力光缆行业市场全景评估及发展趋势研究报告》 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年12月中国光缆产量为2470万芯千米，同比增长6.2%；2025年中国光 缆累计产量为25118.2万芯千米，累计下降5.3%。 2020-2025年中国光缆产量统计图 ...

Investment Rating - The report maintains an "Overweight" rating for the power equipment sector [6] Core Insights - The report highlights new opportunities in the photovoltaic industry driven by space solar power initiatives and rising prices of battery components [1][17] - It emphasizes the importance of supply-side reforms and technological advancements in creating long-term growth opportunities within the industry [1][19] - The report identifies key companies to watch in various segments, including supply chain price increases, new technology growth, and perovskite solar cell developments [1][19][21] Summary by Sections Photovoltaics - The price of multi-crystalline silicon n-type raw materials remains stable, with an average transaction price of 59,200 RMB per ton [17] - N-type battery cell prices have increased to 0.42 RMB per watt, with a price range of 0.40-0.43 RMB per watt [17] - The report notes that rising silver prices have led to increased component costs, with distributed component prices now ranging from 0.70 to 0.80 RMB per watt [17] - SpaceX and Tesla plan to achieve a combined solar manufacturing capacity of 200GW annually in the U.S. within three years, with 40GW dedicated to space solar power [1][18] - Key companies to focus on include Tongwei Co., GCL-Poly, LONGi Green Energy, JA Solar, and Trina Solar for supply-side reform opportunities [1][19] Wind Power & Grid - The Netherlands will launch a 1GW offshore wind project tender in September 2026, with a subsidy budget of approximately 32.45 billion RMB [19][20] - Turkey plans to initiate its first offshore wind tender by the end of 2026, aiming for 5GW of installed capacity by 2035 [19][20] - Southern Power Grid has set a fixed asset investment of 180 billion RMB for 2026, focusing on new power system construction and strategic emerging industries [20] - Companies to watch include Goldwind, Yunda, Mingyang Smart Energy, and Sany Heavy Energy in the wind turbine sector [20] Hydrogen Energy - A ceremony for the operation of 300 hydrogen fuel heavy trucks was recently held, showcasing advancements in hydrogen energy technology [3][21] - The trucks are equipped with a 130kW fuel cell system and can achieve a range of over 600 kilometers [3][21] - Key companies in this sector include Shuangliang Energy, Huadian Heavy Industry, and Shenghui Technology [3][21] Energy Storage - The report forecasts that new energy storage installations in China will reach 58.6GW/175.3GWh in 2025, a year-on-year increase of 38%/60% [4][22] - The average bid price for 2-hour energy storage systems is projected to be 0.55 RMB/Wh in 2025, down 16.9% from 2024 [4][22] - Companies to focus on include Sungrow Power, Canadian Solar, and Kehua Data for large-scale energy storage opportunities [4][22] New Energy Vehicles - CATL launched the "Tianxing II" series solutions for light commercial vehicles, including the industry's first intelligent battery management application [5][27] - The solutions cater to various scenarios, including high-frequency urban distribution and extreme temperature conditions [5][27] - Key companies in the battery sector include CATL, Penghui Energy, and Guoxuan High-Tech [5][29]

中天科技 20260122 摘要 全球光纤需求上升，海外市场由 AI 数据中心和无人机驱动，北美供应商 收入增长显著。国内市场家庭宽带稳定，AI 数据中心加速建设，需求端 整体呈现上升趋势。 光纤行业供给受限，过去几年行业低迷导致厂商扩产意愿低，小厂退出， 供需格局持续改善。光纤价格自去年以来持续上涨，超出预期，运营商 限价下，价格下跌可能性小。 中天科技在智能电网领域拥有 OPGW、OPGC、ADSS 等优势产品，市 场占有率高。受益于国家"十五"期间 4 万亿投入规划，智能电网建设 将增加对其光电复合产品的需求。 国内光纤价格自去年以来不断上涨，部分公司已停止接单，表明供需关 系改善。G652D 光纤价格从 18 元涨至 35-40 元，A2000 光纤涨幅甚 至超过 G652D，达 50-70 元。 光纤价格上涨直接转化为利润，原先 17-18 元售价基本无利可图。目前 散纤端均价预计提升 15 元左右，对公司利润弹性贡献显著，如 9,000 万芯公里产能，每芯公里增加 15 元将带来巨大利润增长。 Q&A 请介绍一下中天科技在通信产业的总体情况。 中天科技旗下的通信产业集团除了包括光纤预制棒、光纤光缆 ...

4.9GHz频段因其频率高、信号衰减快的特点，在地铁隧道多遮挡、多金属反射的复杂环境中，对覆盖 系统的性能提出了更高挑战。中天射频基于扩频漏缆技术的持续迭代与创新，成功将地铁漏缆的应用频 段从3.7GHz扩展至4.9GHz，有效突破了高频信号在复杂场景中的传输瓶颈。 人民财讯1月23日电，据中天科技（600522）集团消息，近日，中天射频电缆有限公司(简称"中天射 频")与中国铁塔(郑州)科技创新中心联合研发的4.9GHz扩频漏缆产品正式推出，并在郑州地铁1号线完 成行业首次开通测试。测试结果表明，该产品各项核心指标表现优异，标志着我国在高频漏缆技术研发 与场景应用方面取得了关键性突破。 ...

石墨烯概念持续走强，渝三峡Ａ、中超控股、ST新华锦涨停，中天科技、曼恩斯特、道氏技术、沃特 股份、麦格米特、格林美等跟涨。 ...

通信行业资金流入榜 沪指1月22日上涨0.14%，申万所属行业中，今日上涨的有22个，涨幅居前的行业为建筑材料、国防军 工，涨幅分别为4.09%、3.23%。通信行业今日上涨2.83%。跌幅居前的行业为美容护理、银行，跌幅分 别为0.76%、0.43%。 资金面上看，两市主力资金全天净流出216.12亿元，今日有12个行业主力资金净流入，通信行业主力资 金净流入规模居首，该行业今日上涨2.83%，全天净流入资金80.19亿元，其次是国防军工行业，日涨幅 为3.23%，净流入资金为57.13亿元。 主力资金净流出的行业有19个，电子行业主力资金净流出规模居首，全天净流出资金132.06亿元，其次 是电力设备行业，净流出资金为72.06亿元，净流出资金较多的还有有色金属、汽车、医药生物等行 业。 通信行业今日上涨2.83%，全天主力资金净流入80.19亿元，该行业所属的个股共124只，今日上涨的有 94只，涨停的有3只；下跌的有29只。以资金流向数据进行统计，该行业资金净流入的个股有60只，其 中，净流入资金超亿元的有14只，净流入资金居首的是中际旭创，今日净流入资金21.50亿元，紧随其 后的是新易盛、天孚通信 ...

转自：前瞻产业研究院 以下数据及分析来自于前瞻产业研究院深海科技研究小组发布的《中国海洋经济产业发展状况调研与投 资战略分析报告》 行业主要上市公司：中国船舶(600150.SH);中船防务(600685.SH);振华重工(600320.SH);中海油服 (601808.SH);中国海防(600764.SH);海兰信(300065.SZ);中天科技(600522.SH)等 深海材料由多种高端材料组成 在高压、低温、强腐蚀、黑暗等极端环境的深海领域，材料性能直接决定着开发能力的边界。深海材料 是深海科技突破的"地基"，为深潜装备、探测系统、资源开发平台提供了核心保障，推动着深海探测从 浅海向深渊、从观测向开发的跨越。同时，作为撬动十万亿美元深海矿产资源市场的支点，深海材料的 创新将全面激活深海油气、海底矿产、生物资源等巨大产业潜力，支撑起从装备制造到资源利用的全产 业链发展。深海材料按照其功能作用分类，可分为耐压结构材料(壳体材料)、浮力材料、密封材料、防 护材料(如防腐材料、防护涂层、润滑材料等)、照明材料等类别。按照材料性质，则可分为高强度金属 材料、高分子复合材料、陶瓷基复合材料等类别。深海材料类别如下图 ...