Core Viewpoint - The company, AVIC Optoelectronics, addressed investor inquiries regarding shareholder reduction in holdings and advised stakeholders to pay attention to future announcements [2] Company Summary - On September 18, AVIC Optoelectronics responded to questions from investors on an interactive platform about the situation of shareholder reductions [2]

Core Viewpoint - The company emphasizes "steady operation and value creation," focusing on market value management through various initiatives such as equity incentives, executive share purchases, and share buybacks [1] Group 1: Company Strategy - The company is increasing its efforts in fundamental research and product planning and development [1] - It is enhancing strategic cooperation with leading clients across various fields [1] - Major incubation projects and business expansion initiatives are currently underway [1] Group 2: Business Focus - The company plans to simultaneously advance in defense, civilian, and international business sectors [1] - It aims to deepen its leadership in the defense field while becoming a preferred interconnection solution provider in the high-tech manufacturing sector both domestically and internationally [1] - The company is committed to continuously creating value and returning profits to shareholders [1]

Core Viewpoint - The company has developed microchannel water cooling technology that enhances heat dissipation capabilities while reducing product size, applicable to platforms from Nvidia, Intel, and AMD [1] Company Summary - The company, 中航光电, has patented microchannel water cooling technology [1] - This technology improves heat dissipation under the same flow conditions [1] - The product is already in use, indicating practical application and potential market relevance [1]

Core Viewpoint - The company has developed liquid-cooled quick-connect products that meet OCP standards and NVIDIA design specifications, enabling plug-and-play compatibility with Intel and NVIDIA ecosystems [1] Group 1 - The liquid-cooled quick-connect products can seamlessly integrate with CoolerMaster cold plates in GB300 cabinets [1] - Nylon quick-connectors are not suitable for data center applications, prompting the company to develop superior non-metallic liquid-cooled quick-connectors [1]

Core Viewpoint - The company is focusing on the development of high-speed cable component products, which enables it to provide a complete interconnection solution for AI servers [1] Group 1 - The company is actively positioning itself in the high-speed cable component market [1] - The company claims to have the capability to offer a full suite of interconnection solutions specifically for AI servers [1]

格隆汇9月18日丨中航光电(002179.SZ)在投资者互动平台表示，公司具有微通道水冷板技术，可以匹配 英伟达、intel、AMD等平台芯片；公司该专利技术的优势在于同样流量情况下提高了产品的散热能 力，且体积更小，现已有应用。 ...

Core Viewpoint - The company has developed liquid-cooled quick-connect products that meet OCP standards and NVIDIA design specifications, enabling plug-and-play compatibility with Intel and NVIDIA ecosystems [1] Group 1 - The liquid-cooled quick-connect products can seamlessly integrate with CoolerMaster cold plates in GB300 cabinets [1] - Nylon quick-connects are not suitable for data center applications, prompting the company to develop superior non-metallic liquid-cooled quick-connects [1]

Summary of the Conference Call for AVIC Optoelectronics Industry Overview - AVIC Optoelectronics operates in both military and civilian sectors, with a balanced business model. The defense sector shows strong growth in aerospace and weaponry, while the aerospace electronics sector remains stable. The shipbuilding sector has stagnated. [2][4] - The high-end civilian sector, particularly in new energy, has shown remarkable performance with growth exceeding 50%. Other sectors such as communications, industrial, and medical also performed well, with data centers showing significant growth. [2][5] Key Financial Insights - Orders for the first half of 2025 indicate a recovery trend across various segments, particularly in new energy and high-end manufacturing. [2][7] - The company anticipates that revenue from new energy-related businesses will account for approximately 25% of total revenue in 2025. [6] - Despite a positive outlook for overall revenue, there are uncertainties regarding profit due to slow revenue recognition in housing-related businesses and rising raw material costs. [8][9] Business Development and Strategy - AVIC Optoelectronics is actively expanding its international market presence, with production bases and business offices in Vietnam and Germany. The overseas business is expected to grow from less than 10% to 15% or higher in the future. [10] - The liquid cooling business, while currently small (estimated around 1 billion), has been growing rapidly at rates exceeding 30% to 50%. The company provides comprehensive liquid cooling solutions for both defense and civilian applications. [2][13] Product and Market Trends - The company is positioned as a key supplier in the C919 commercial aircraft project, with an expected order scale of around 200 million in 2025. [4][15] - AVIC Optoelectronics is focusing on becoming a global leader in interconnected solutions, moving beyond housing markets due to their limitations. The company aims to increase its share in the civilian market while enhancing profitability. [17] - There is a trend towards standardization in airborne systems, which may lead to increased production efficiency and reduced costs, benefiting leading companies in the industry. [18][20] Challenges and Risk Management - The company faces challenges from rising raw material prices and the need for low-cost, high-reliability products. Strategic cost management measures are being implemented, including design optimization to reduce material usage. [16] - The military electronics sector has seen instances of downgraded specifications, but quality and reliability standards remain stringent, especially in aerospace applications. [19] Conclusion - AVIC Optoelectronics is navigating a complex landscape with a balanced approach to military and civilian markets, focusing on growth in high-end sectors and international expansion while managing cost pressures and ensuring quality standards. [2][10][17]

Group 1 - The copper cable high-speed connection concept increased by 2.18%, ranking third among concept sectors, with 32 stocks rising, including HuiLv Ecology and LuXiao Technology hitting the daily limit [1][2] - Leading stocks in the sector included ChangYing Precision, ShengLan Co., and YiDong Electronics, which rose by 12.44%, 12.07%, and 8.21% respectively [1][2] - The sector experienced a net outflow of 275 million yuan from main funds, with 24 stocks seeing net inflows, and 7 stocks receiving over 50 million yuan in net inflows [2][3] Group 2 - LuXiao Technology had the highest net inflow of main funds at 427 million yuan, followed by ChangXin BoChuang and WoEr Nuclear Materials with net inflows of 276 million yuan and 170 million yuan respectively [2][3] - The net inflow ratios for LuXiao Technology, HuiLv Ecology, and ZhongHang Optoelectronics were 41.74%, 15.87%, and 10.17% respectively [3] - Stocks with significant increases included ChangYing Precision and ShengLan Co., which had turnover rates of 18.89% and 17.90% respectively [4]

Group 1 - The Ministry of Commerce and eight other departments issued 19 specific measures to expand service consumption, focusing on enhancing service quality and promoting consumer activities [1] - The "Service Consumption Quality Improvement and Benefit Action" plan was introduced to strengthen policy support, build platforms, and optimize the consumption environment [1] - The initiative includes the continuous development of the "Buy in China" brand and the launch of a series of promotional activities in key service sectors [1] Group 2 - The Chinese Ministry of National Defense confirmed that the Fujian aircraft carrier is conducting sea trials, which is a normal part of its construction process [2] - The development of the aircraft carrier is aligned with national security needs and technological advancements, emphasizing China's commitment to a defensive national policy [2] - The Fujian carrier is expected to play a significant role in safeguarding national sovereignty and development interests [2] Group 3 - The China National Medical Products Administration released the first industry standard for medical devices using brain-computer interface technology, set to take effect on January 1, 2026 [4] - This standard aims to support the high-quality development of the brain-computer interface medical device industry [4] Group 4 - The Shenzhen Securities Regulatory Bureau issued a warning letter to Qianhai Hongtai Fund Management Co., Ltd. for failing to complete fund filing procedures after fundraising [5] - This action is based on violations of the Private Fund Management Regulations [5] Group 5 - Vanke A received a loan of up to 2.064 billion yuan from Shenzhen Metro Group [8] - Hengwei Technology plans to acquire 75% of Shuheng Technology's shares, leading to a stock suspension [8] - Shanghai Construction's stock has seen significant short-term gains, indicating potential market overheating [8] - Huohai Biotechnology's controlling shareholder received an administrative penalty notice [8] - Funeng Technology plans to mass-produce its third-generation semi-solid battery by 2026 [8] - Luxiao Technology signed an AI robot cooperation agreement with its subsidiary [8] - Haon Electric received a product designation notice, estimating total revenue of approximately 2.477 billion yuan over its lifecycle [8] - Haowei Group has entered NVIDIA's supply chain [8] - AVIC Optoelectronics has shipped UQD connectors and liquid cooling pipe components to overseas manufacturers [8]