Core Viewpoint - China Mobile has announced a centralized procurement project for lithium iron phosphate batteries for communication from 2026 to 2028, with a procurement scale of approximately 8.229 billion Ah (2.633 GWh) [2][4]. Group 1: Procurement Details - The number of winning bidders is set to be between 9 to 10, with share allocations varying based on the number of bidders. If 9 companies win, the shares will be 17.07%, 14.63%, 13.41%, 12.20%, 10.98%, 9.76%, 8.54%, 7.32%, and 6.09%. If 10 companies win, the shares will be 15.63%, 13.54%, 12.50%, 11.46%, 10.42%, 9.38%, 8.33%, 7.29%, 6.25%, and 5.20% [2][4][5]. - The highest bid limit is set based on the average market price of lithium iron phosphate and electrolyte as of the last pricing cycle before the bid submission deadline [5]. Group 2: Bidder Qualifications - Bidders must be legally established independent entities within the People's Republic of China and must be manufacturers, as agent bids and joint bids are not accepted [6][7]. - Bidders must provide a complete range of capacity specifications for the lithium iron phosphate battery products, with a sales performance of no less than 50 million RMB in the domestic market from July 1, 2022, to June 30, 2025 [6][7]. Group 3: Submission and Evaluation Process - Bids must be submitted electronically through China Mobile's procurement system, with a deadline set for February 9, 2026, at 10:00 AM [11]. - The evaluation of bids will include a qualification review, and any bids that do not pass this review will be rejected [10].

证券日报网讯12月26日，中天科技（600522）在互动平台回答投资者提问时表示，中天金投是中天科技 全资子公司，属于合并报表范围，盈亏已在公司合并报表中体现，具体投资情况请参考定期报告中"证 券投资情况"。 ...

中天科技（600522.SH）12月26日在投资者互动平台表示，尊敬的投资者，您好。公司已有相关产品可 应用于航空航天领域，例如耐高温电缆产品符合机载和航天设备的要求，能满足航天、航空、舰载、船 舶等领域的苛刻环境下的信息和能量传输；金属化碳纤维材料产品通过表面金属化创新解决了传统碳纤 维与基体界面相容性差、导电导热不足、轻量化与多功能集成矛盾等瓶颈问题，可以用于在航空航天高 温部件、轴承防腐等高端领域展。感谢您对公司的关注和支持！ （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘你好！在航天工程配套方面公司产品是否涉及？ ...

格隆汇12月26日丨中天科技(600522.SH)在投资者互动平台表示，公司已有相关产品可应用于航空航天 领域，例如耐高温电缆产品符合机载和航天设备的要求，能满足航天、航空、舰载、船舶等领域的苛刻 环境下的信息和能量传输；金属化碳纤维材料产品通过表面金属化创新解决了传统碳纤维与基体界面相 容性差、导电导热不足、轻量化与多功能集成矛盾等瓶颈问题，可以用于在航空航天高温部件、轴承防 腐等高端领域展。 ...

国家知识产权局信息显示，中天科技集团海洋工程有限公司、江苏中天科技股份有限公司取得一项名 为"打桩船"的专利，授权公告号CN120191474B，申请日期为2025年4月。 天眼查资料显示，中天科技集团海洋工程有限公司，成立于2017年，位于南通市，是一家以从事土木工 程建筑业为主的企业。企业注册资本50000万人民币。通过天眼查大数据分析，中天科技集团海洋工程 有限公司共对外投资了4家企业，参与招投标项目587次，专利信息178条，此外企业还拥有行政许可8 个。 江苏中天科技股份有限公司，成立于1996年，位于南通市，是一家以从事电气机械和器材制造业为主的 企业。企业注册资本341294.9652万人民币。通过天眼查大数据分析，江苏中天科技股份有限公司共对 外投资了58家企业，参与招投标项目5000次，财产线索方面有商标信息70条，专利信息2055条，此外企 业还拥有行政许可7371个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 ...

Core Insights - Zhongtian Technology has successfully won a major contract for a 100,000 kW floating offshore wind power pilot project, indicating its strong position in the offshore wind infrastructure sector [1][22] - The company has secured a total of 318 billion yuan in orders in the energy network sector, with 131 billion yuan related to marine projects, showcasing its robust order backlog [23] Industry Overview - The global submarine cable market is experiencing significant growth, projected to reach 141.5 billion yuan by 2025, an elevenfold increase compared to 2020 [2][24] - In China, the offshore wind power sector is revitalizing, with multiple provinces releasing new plans and resuming previously paused projects [3][25] - Europe is entering a peak period for offshore wind power construction, with a forecasted demand for over 20,000 kilometers of submarine cables by 2030, highlighting a substantial supply gap [4][27] Competitive Landscape - The domestic submarine cable market is primarily dominated by five major companies, with Zhongtian Technology, along with Dongfang Cable and Hengtong Optic-Electric, leading in high-end cable projects [9][30] - High-end submarine cable projects can yield a gross profit of 450 million yuan per 1 GW, significantly higher than standard cable projects [9][30] Financial Performance - Zhongtian Technology's gross margin in the marine business reached 24.45% in 2024, reflecting a steady increase from 21.3% in 2022, indicating ongoing product and technological improvements [10][12][31] - The company has invested 8.475 billion yuan in R&D from 2021 to the third quarter of 2025, with an average R&D expense ratio exceeding 4.5%, outpacing its main competitors [14][35] Technological Advancements - The company has developed a comprehensive product matrix for submarine cables, covering a wide range of voltage levels and applications, including the first 66 kV dynamic submarine cable in China [16][37] - The successful signing of the Waning project marks a significant milestone in the industry, demonstrating Zhongtian Technology's capability to push technological boundaries [17][38] Future Outlook - As offshore wind power continues to advance towards deeper and more complex projects, Zhongtian Technology's commitment to R&D positions it favorably for sustained growth and market leadership [19][40] - The ongoing cycle of investment in technology and product development is expected to reinforce the company's competitive edge in the high-end manufacturing sector [20][40]

Core Viewpoint - The Zhejiang Provincial People's Congress has passed the "Regulations on Promoting High-Quality Development of Marine Economy," which emphasizes the expansion of offshore wind power into deep waters and the development of various clean energy sources, including nuclear and tidal energy [1] Group 1: Offshore Wind Power Development - The current global offshore wind power costs are now economically viable alternatives to traditional fossil fuels, with a favorable carbon emission profile throughout its lifecycle [1] - Offshore wind power projects are advantageous due to their distance from residential areas, minimizing noise and visual pollution, and the absence of road construction limitations [1] - The ability to select optimal wind conditions and higher capacity factor sites enhances the reliability and efficiency of offshore wind power [1] Group 2: Industry Recommendations - The transition from nearshore to deep offshore wind power is underway, with provinces actively promoting demonstration projects to build experience for future large-scale developments [2] - Companies in the submarine cable segment, such as Dongfang Cable, Zhongtian Technology, and Hengtong Optic-Electric, are recommended for investment [2] - In the offshore wind foundation and marine engineering sector, companies like Dajin Heavy Industry, Haili Wind Power, and Tian Shun Wind Energy are highlighted as potential beneficiaries [2] - For turbine manufacturers with sufficient orders, companies like Goldwind Technology, Yunda Co., and Sany Renewable Energy are suggested for attention [2]

Core Viewpoint - The demand for optical fibers and cables is expected to increase due to the ongoing advancements in AI model training and application deployment, which will drive the global optical fiber and cable market [1][2] Demand Side Summary - The continuous iteration of AI large models and accelerated application deployment will likely sustain the demand for optical fibers and cables globally [1] - The need for massive data flow within data centers will promote the use of high-end single-mode and multi-mode fibers along with ultra-high-speed optical modules, facilitating efficient short-distance data transmission and flexible interconnections [1] - G.654.E optical fibers will significantly enhance transmission distance and system capacity, aiding in the construction of more efficient and economical long-distance high-bandwidth networks [1] - The development of hollow-core fibers, which offer low latency, wide bandwidth, low loss, and low nonlinearity, is being actively promoted, indicating a potential long-term increase in demand for these new technologies [1] Supply Side Summary - The production cycle for optical preforms is long and technically demanding, leading to potential short-term supply tightness in the market [1] - The traditional optical preform production methods, including PCVD, OVD, and VAD, require high technical maturity and precise control, making capacity expansion challenging [1] - The increasing demand for optical fibers and cables will raise capacity requirements for manufacturers, likely driving up utilization rates in the short term [2] Market Outlook - Predictions indicate that global demand for optical fibers and cables could reach hundreds of millions of core kilometers by 2025, maintaining a growth trend [2] - Prices have shown a significant rebound since May, and the construction of AI data centers is expected to continue driving demand and price stability for optical fibers and cables [2] - The industry may experience a supply-demand imbalance in the short term due to limited capacity expansion among global manufacturers [2] Recommended Companies - Companies recommended for investment include Hengtong Optic-Electric (600487.SH) and Zhongtian Technology (600522.SH) [2] - Beneficiary companies include Yangtze Optical Fibre and Cable (06869, 601869.SH), Yongding Co., Ltd. (600105.SH), FiberHome Technologies Group (600498.SH), and TeFa Information (000070.SZ) [2]

Group 1 - The core viewpoint of the report is that the development of AI is expected to drive demand for optical fibers and cables, particularly due to the ongoing iteration of AI large model training and the acceleration of AI application implementation [1] - The report highlights that the demand for high-end single-mode and multi-mode fibers, along with ultra-high-speed optical modules, will facilitate efficient short-distance data transmission and flexible interconnection, promoting the evolution of intelligent computing centers towards higher density and lower power consumption [1] - The report indicates that there is a significant advantage in hollow-core fibers, and both domestic and international markets are actively promoting the development of this new technology, which may gradually increase long-term demand [1] Group 2 - The report suggests that in the short term, there may be a supply shortage of optical fibers and cables, presenting investment opportunities [1] - The global growth of AI is continuously driving the demand for optical fibers and cables for interconnections within data centers and between data centers [1] - Due to limited production capacity among global manufacturers in the short term, a supply-demand imbalance is expected, leading to a steady increase in both demand and prices [1] Group 3 - The recommended stocks include Hengtong Optic-Electric and Zhongtian Technology, while benefiting stocks include Yangtze Optical Fibre and Cable, Yongding Co., Fenghuo Communication, and TeFa Information [1][3]

Core Viewpoint - The report from Kaiyuan Securities indicates that the demand for optical fibers and cables is expected to increase due to the ongoing iteration of AI large model training and the accelerated application of AI in inference, which will drive global demand for optical fibers and cables [1] Group 1: Demand Drivers - The massive data flow demand within data centers, along with the collaboration of high-end single-mode and multi-mode fibers and ultra-high-speed optical modules, is likely to enable efficient short-distance data transmission and flexible interconnection, pushing intelligent computing centers towards higher density and lower power consumption [1] - The development of new technologies such as hollow-core fibers, which offer advantages like low latency, broad bandwidth, low loss, and low nonlinearity, is being actively promoted both domestically and internationally, suggesting a gradual increase in demand for hollow-core fibers in the long term [1] Group 2: Market Outlook - In the short term, there may be a supply-demand imbalance, with limited capacity for global manufacturers to expand production, potentially leading to a situation of supply shortage [1] - The demand and prices for optical fibers and cables are expected to maintain a steady upward trend, driven by the robust growth of AI and the resulting needs for interconnection within data centers and DCI [1] Group 3: Recommended Stocks - Recommended stocks include Hengtong Optic-Electric and Zhongtian Technology, while beneficiaries include Yangtze Optical Fibre and Cable, Yongding Co., Fenghuo Communication, and TeFa Information [1]