（文章来源：证券日报） 证券日报网讯 2月5日，中天科技在互动平台回答投资者提问时表示，公司2025年的经营数据将在年度 报告中披露，具体数据请查阅有关报告。公司电力产业以智能电网再牵引为目标，巩固主营产品及主营 市场国内优势地位的同时，加快境外投资布局，依托产品创新和数智化转型推动传统产业升级，实现更 高质量发展，成为全球领先的电力装备制造企业。 ...

证券日报网讯 2月5日，中天科技在互动平台回答投资者提问时表示，公司专注于在通信和能源两大领 域为客户创造价值，提供行业领先的产品与解决方案，致力于成为全球领先的信息与能源互联解决方案 服务商。公司长期专注于细分产品市场的深耕，生产技术和工艺水平达到国际领先，部分产品市场占有 率位居全球前列。未来公司将继续专注主业，提升公司核心竞争力、盈利能力和风险管理能力，通过良 好的业绩表现、规范的公司治理积极回报投资者。 （文章来源：证券日报） ...

Core Viewpoint - Zhongtian Technology is focusing on the forefront of energy transformation, aiming to become a builder of smart energy ecosystems and drive a zero-carbon future through its diverse technology matrix and comprehensive solutions in the renewable energy sector [2] Group 1: Company Strategy - Zhongtian Technology is deeply engaged in key materials and core equipment for renewable energy [2] - The company is constructing a multi-dimensional technology matrix to support its operations [2] - It aims to integrate the entire "generation-storage-usage" industrial ecosystem [2] Group 2: Industry Positioning - Zhongtian Technology is positioned to provide global solutions for renewable energy equipment manufacturing and system integration [2] - The company is committed to contributing to the development of a smart energy ecosystem [2]

证券日报网讯 2月5日，中天科技在互动平台回答投资者提问时表示，公司电力产业以智能电网再牵引 为目标，巩固主营产品及主营市场国内优势地位的同时，加快境外投资布局，依托产品创新和数智化转 型推动传统产业升级，实现更高质量发展，成为全球领先的电力装备制造企业，具体数据请查阅公司后 续定期报告。 （文章来源：证券日报） ...

证券日报网讯 2月5日，中天科技在互动平台回答投资者提问时表示，公司遵循相关规则，履行信息披 露义务。 （文章来源：证券日报） ...

证券之星消息，2月5日海洋经济板块较上一交易日下跌1.9%，中天科技领跌。当日上证指数报收于 4075.92，下跌0.64%。深证成指报收于13952.71，下跌1.44%。海洋经济板块个股涨跌见下表： 从资金流向上来看，当日海洋经济板块主力资金净流出31.18亿元，游资资金净流入3.87亿元，散户资金 净流入27.32亿元。海洋经济板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Group 1 - The core viewpoint is that the fiber optic industry is entering a price increase trend, driven by rising demand for G657A2 and other products, leading to reduced supply of G652D and longer delivery times [2][4] - The demand for fiber optics is significantly boosted by AI-driven data centers and DCI (Data Center Interconnect) scenarios, with global fiber demand expected to continue rising [3][4] - The export performance of fiber optic and cable companies is strong, with overseas markets becoming an important growth point for the industry [3][6] Group 2 - The competition in computing power is driving a concentrated explosion in fiber demand, with AI data centers requiring significantly more fiber than traditional data centers [4][5] - The demand for specialty and multimode fibers is growing, with companies rapidly advancing in the development and application of hollow-core fibers [5] - Major domestic fiber optic manufacturers are expected to benefit from the price increase trend, with profit elasticity likely to be continuously revised upwards [6]

Group 1 - The ultra-high voltage index declined by 2% on February 5, indicating a downward trend in the sector [1] - Most constituent stocks experienced a drop, with Hengtong Optic-Electric, Zhongtian Technology, Changgao Electric, and Jinpan Technology all falling over 4% [1] - Trina Solar also saw a decrease, with its stock down by 3% [1]

Investment Rating - The report assigns an "Overweight" rating to the fiber optic cable industry [1]. Core Insights - The fiber optic industry is experiencing a significant price increase trend, driven by a surge in demand due to computational power competition and the growth of special and multimode fibers. The export performance of fiber optic cables is strong, confirming the industry's upward pricing trend [3][4]. Summary by Sections 1. Fiber Optic Industry Cycle and Price Trends - After being under pressure in the first half of last year, the price of fiber optic cables has been gradually recovering, particularly with increased demand for G657A2 overseas, leading to a reduction in G652D supply and longer delivery times. The price of G652D fiber has seen significant increases, with expectations for continued price hikes as major telecom operators prepare for procurement [8][9]. 2. Factors Driving Price Increases - The demand for fiber optic cables is continuously growing, with G652D fiber experiencing a structural shortage. Prices have risen significantly, with the latest market quotes reaching 30-40 yuan per core kilometer, reflecting a more than 50% increase over the previous year [16][22]. - The competition for computational power is a core driver of fiber demand, with data centers requiring significantly more fiber than traditional setups. The global demand for fiber optic cables is expected to increase by 75.9% in 2025, particularly for high-end products like G.654.E and OM5 multimode fibers [20][22]. - The supply side is constrained, with a slow growth in global fiber preform capacity and a shift towards high-demand AI and specialty fibers, leading to a more orderly supply of traditional products [30]. 3. Export Performance and Growth Opportunities - The export of fiber optic cables has become a crucial growth point for companies in the industry, with significant increases in overseas demand. In 2025, the total export volume of fiber optic products reached 454,000 tons, a year-on-year increase of 11.1%, with export value rising by 44.1% [12][10]. 4. Investment Recommendations - The report recommends investing in leading domestic fiber optic manufacturers such as Yangtze Optical Fibre and Cable Joint Stock Limited Company, Hengtong Optic-Electric Co., Ltd., and Zhongtian Technology Co., Ltd., which are expected to benefit from the price increase trend and growing demand [51].

Summary of Fiber Optic Cable Industry Conference Call Industry Overview - The fiber optic cable industry is experiencing a significant demand surge driven by short-term needs from drone operations and strategic stockpiling in Europe and the U.S. [1] - Long-term demand driven by AI is expected to be a key growth driver, with AI-related demand projected to account for 20% of global demand by 2026 [1][4][5]. Key Points and Arguments - **Short-term Demand Drivers**: The demand for 657A fiber optics is significantly influenced by military needs, particularly for drone operations in the Russia-Ukraine conflict and strategic stockpiling by Western countries [2]. - **Long-term AI Demand**: AI is anticipated to create a sustained demand for high-performance connectors, with projections indicating that AI-related demand will rise from less than 10% in 2025 to 20% by 2026 [4][5]. - **Supply Constraints**: Major North American suppliers like Corning and Prysmian are operating near full capacity, with new capacity additions expected to be slow, leading to a tight supply situation [2][4][6]. - **Market Dynamics**: Domestic manufacturers, such as Futong, are facing production halts due to bankruptcy restructuring, which, combined with slow recovery from smaller firms, exacerbates supply bottlenecks and drives prices higher [1][7]. Investment Opportunities - **Current Investment Window**: The current market conditions present a favorable investment opportunity in the fiber optic cable industry, supported by both short-term and long-term demand factors [8]. - **Key Companies to Watch**: - Leading manufacturers with significant optical fiber capacity, such as Yangtze Optical Fibre and Cable, Hengtong, and Zhongtian Technology, are recommended for investment due to their established presence in the North American market [12]. - Among second-tier manufacturers, companies like Avic's Fuchunjiang, which has a strong technical team and high capacity utilization, are also highlighted for their potential [13]. Price Trends and Market Expectations - **Price Sustainability**: The price increases in the fiber optic cable market are expected to be sustainable due to ongoing demand from military applications and AI, with no significant oversupply anticipated in the near term [3][8]. - **Challenges in Price Prediction**: Accurately predicting price increases remains challenging due to the complex relationship between capacity gaps and price movements [9]. Catalysts and Risks - **Potential Catalysts**: Upcoming financial reports from overseas companies and optimistic data from CRU are expected to positively influence market sentiment [10][11]. - **Market Influences**: The re-tendering and pricing strategies of domestic operators, along with order placements from overseas CSPs, will also play a crucial role in shaping market dynamics [11].