Investment Rating - Industry rating: Recommended [4] Core Insights - The integration of "Artificial Intelligence+" is deepening, with AI maintaining high performance in overseas computing power chains, despite short-term volatility pressures. Recommended companies include Unisplendour, ZTE, StarNet, Guanghui New Network, Aofei Data, Data Port, Invec, New Ray Energy, and Wangsu Technology, with related beneficiaries such as Runze Technology and Baoxin Software [1][6][11] - In the long term, the computing power industry chain is still in its early growth stage, driven by reasoning power and model iteration upgrades. Beneficiaries include NewEase, Zhongji Xuchuang, and Tianfu Communication, with CPO-related beneficiaries like Taicheng Light and Yuanjie Technology, and PCB-related beneficiaries such as Shenghong Technology and Hude Electronics [1][7] - The demand for domestic computing power, private cloud, and integrated government and enterprise cloud deployment is expected to accelerate, with beneficiaries including Cambricon, Guangxun Technology, Huagong Technology, Tuwei Information, and Weishi Jiajie [1][7][11] Summary by Sections Section 1: AI and Computing Power - AI is becoming a new engine for economic growth, with significant integration into various industries. The government is promoting the commercialization of AI applications [6] - The recent discussions around the H20 computing chip vulnerabilities are expected to accelerate the domestic production chain, with beneficiaries including SMIC, Cambricon, StarNet, and others [2][10] Section 2: Recommendations in the Communication Sector - Recommended companies in the computing and communication infrastructure include China Mobile, China Telecom, and China Unicom, along with equipment manufacturers like ZTE and Unisplendour [11][13] - The report emphasizes the importance of third-party computing power leasing companies such as Guanghui New Network and Aofei Data, with additional beneficiaries like Runze Technology and Baoxin Software [11][13] Section 3: Optical Network and Edge Computing - Beneficiaries in the optical network upgrade include Guangxun Technology, Huagong Technology, and Tianfu Communication [14] - In edge computing, recommended companies include Wangsu Technology, Youkede, and Qianlong Technology, focusing on high-performance SoC chips [15]

Core Viewpoint - Zhongyuan Securities issued a report on August 1, giving a "buy" rating to Guangxun Technology (002281.SZ) based on several positive factors related to its business performance and market position [2]. Group 1: Business Performance - The company has a high gross margin in its overseas business, with a significant increase in the gross margin of data center optical modules [2]. - The domestic business accounts for a large proportion of the company's revenue, and it ranks among the top in various segmented markets [2]. Group 2: Innovation and Technology - The company places a strong emphasis on research and development innovation, possessing leading vertical integration technology capabilities [2]. - It offers a one-stop product provision capability and has large-scale flexible manufacturing capabilities [2]. Group 3: Market Environment - The computing infrastructure industry chain is experiencing high prosperity, and the optical module industry continues to benefit from this trend [2].

Group 1 - A total of 41 stocks appeared on the weekly trading list, with 25 showing net purchases from the Shenzhen Stock Connect [1] - The top three stocks with the highest net purchases were Shenghong Technology (65.95 million), Guangxun Technology (39.91 million), and Shenzhen South Circuit (24.06 million) [1] - The average increase for stocks with net purchases was 15.01%, outperforming the Shanghai Composite Index, which fell by 0.94% [1] Group 2 - The stocks with the highest net sales included Pengding Holdings (29.77 million) and Weichai Heavy Industry (13.68 million) [2] - The stock with the largest increase was Guangsheng Hall, which rose by 36.42% during the week [1] - The trading volume for stocks with net purchases varied significantly, with some stocks like Shubeide showing a turnover rate of 166.64% [1]

Core Viewpoint - The company, Guangxun Technology, is expected to see significant growth in revenue and net profit in the first half of 2025, driven by rapid growth in computing power investments and a leading market share among domestic cloud service providers [2][3][6]. Financial Performance - The company forecasts a net profit of 3.23 to 4.07 billion yuan for H1 2025, representing a year-on-year increase of 55.0% to 95.0% [2]. - For Q2 2025, the expected net profit is between 1.73 to 2.57 billion yuan, with a year-on-year growth of 32.1% to 96.2% [2]. - In Q1 2025, the sales gross margin was 25.61%, an increase of 3.08 percentage points year-on-year and 5.47 percentage points quarter-on-quarter [4]. Market Position and Product Offering - The company has a strong vertical integration capability and offers a full range of optical communication modules and related products, which are widely used in data centers, backbone networks, metropolitan area networks, broadband access networks, wireless communications, and the Internet of Things [3][5]. - In 2024, the revenue share from access and data communication products was 61.67%, while transmission products accounted for 37.50% [3]. - The company ranked sixth among global optical module manufacturers according to LightCounting, with a market share of 4.7% in the data communication optical device market and 5.7% in the telecom optical device market [4]. Research and Development - The company emphasizes R&D innovation, with R&D expenses increasing by 55.14% year-on-year in Q1 2025 [5]. - It possesses comprehensive solutions and flexible manufacturing capabilities, with annual shipment volumes ranking among the top three in the industry [5]. Industry Outlook - The demand for optical modules is expected to grow significantly due to the increasing investments in AI and computing power, with the global data communication optical module market projected to grow at a CAGR of 27% from 2024 to 2029 [5]. - The company is well-positioned to benefit from the high demand in the optical module industry, particularly in the context of the ongoing AI commercialization wave [5]. Profit Forecast and Investment Recommendation - The company is projected to achieve net profits of 11.77 billion yuan, 15.09 billion yuan, and 18.11 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 35.45X, 27.65X, and 23.03X [6]. - The initial coverage of the stock has been rated as "Buy" [6].

36只个股今日获机构买入型评级，7股机构首次关注。 证券时报·数据宝统计显示，今日机构研报共发布48条买入型评级记录，共涉及36只个股。海信家电关 注度最高，共获5次机构买入型评级记录。 今日获机构买入型评级个股中，共有14条评级记录中对相关个股给出了未来目标价。以公布的预测目标 价与最新收盘价进行对比显示，共有8股上涨空间超20%，海信家电上涨空间最高，8月1日国泰海通预 计公司目标价为40.20元，上涨空间达57.65%，上涨空间较高的个股还有上海沿浦、大金重工等，上涨 空间分别为47.23%、37.47%。 从机构评级变动看，今日机构买入型评级记录中，有7条评级记录为机构首次关注，涉及大金重工、光 迅科技等7只个股。 市场表现方面，机构买入型评级个股今日平均上涨0.27%，表现强于沪指。股价上涨的有17只，涨停的 有宏和科技等。涨幅居前的有赛特新材、光云科技、大金重工等，今日涨幅分别为6.32%、4.42%、 2.91%。跌幅较大的个股有中国石化、芯碁微装、中国石油等，跌幅分别为5.32%、4.30%、4.06%。 业绩方面，机构评级买入个股中，有12股已经公布了上半年业绩，净利润同比增幅最大的是仕佳光 ...

Group 1 - The A-share market experienced a decline in the afternoon, with the ChiNext index dropping over 1%, particularly affected by the gaming and CPO sectors [1] - Notable declines were observed in several companies, including Jingwang Electronics (-7.33% with a market cap of 58.2 billion), Cambridge Technology (-6.06% with a market cap of 13.7 billion), and Huylv Ecological (-4.80% with a market cap of 10.7 billion) [1] - Year-to-date performance showed significant variations, with companies like Jingwang Electronics and Xinyi Sheng achieving increases of 127.01% and 121.28% respectively, despite their recent declines [1] Group 2 - Other companies that faced declines include Zhongji Xuchuang (-3.88% with a market cap of 232.4 billion), Xinyi Sheng (-3.84% with a market cap of 180.8 billion), and Lian Te Technology (-3.79% with a market cap of 12.5 billion) [1] - The overall market sentiment appears negative, as multiple sectors, including technology and communications, reported losses, indicating a broader market trend [1] - The performance of the ChiNext index reflects ongoing volatility in the A-share market, with specific sectors like gaming and CPO underperforming [1]

Group 1 - The A-share market saw a collective pullback in CPO concept stocks, with significant declines in several companies [1] - Jingwang Electronics (603228) dropped over 7%, while Cambridge Technology fell by 6% [1] - Other companies such as Huilv Ecology, Zhongji Xuchuang, and Xinyi Sheng also experienced declines exceeding 3% [1] Group 2 - The table lists various companies along with their stock performance, total market capitalization, and year-to-date growth percentages [2] - Jingwang Electronics reported a decline of 7.33% with a total market value of 58.2 billion and a year-to-date increase of 127.01% [2] - Cambridge Technology saw a decrease of 6.06%, with a market cap of 13.7 billion and a year-to-date growth of 26.18% [2] - Huilv Ecology experienced a drop of 4.80%, with a market cap of 10.7 billion and a year-to-date increase of 80.40% [2] - Zhongji Xuchuang and Xinyi Sheng also reported declines of 3.88% and 3.84%, respectively, with market caps of 232.4 billion and 180.8 billion [2]

Group 1 - The A-share market saw a collective pullback in CPO concept stocks, indicating a negative trend in this sector [1] - Jingwang Electronics experienced a decline of over 7%, reflecting significant selling pressure [1] - Cambridge Technology fell by 6%, contributing to the overall downturn in the CPO sector [1] Group 2 - Huilv Ecology dropped by over 4%, highlighting concerns among investors [1] - Companies such as Zhongji Xuchuang, Xinyi Sheng, Liante Technology, Guangxun Technology, and Taicheng Light all experienced declines of over 3%, indicating widespread weakness in the market [1]

内容概况：中国是全球光电耦合器件的重要市场之一。近年来，随着通信、电力、工业控制等行业的快 速发展，光电耦合器件的市场需求不断增加。同时，技术的不断进步和应用领域的拓展也为光电耦合器 件市场的发展提供了有力支持，光电耦合器件市场规模呈现出稳健的增长态势。数据显示，中国光电耦 合器件行业规模从2019年的19.74亿元增长至2024年的45.19亿元，年复合增长率为18.02%。未来，随着 智能化、数字化、绿色环保技术的发展，光电耦合器件在多个行业的应用需求持续增长。尤其是在工业 自动化、新能源汽车、5G通信、医疗设备等领域，光电耦合器件的应用将进一步扩大。 相关上市企业：华联电子（872122）、沪电股份（002463）、深南电路（002916）、生益科技 （600183）、兆易创新（603986）、光迅科技（002281）、华工科技（000988）、立讯精密 （002475）、烽火通信（600498）、中国通信服务（00552）等。 相关企业：深圳市奥伦德科技有限公司、湖北匡通电子股份有限公司、深圳市卓睿研发有限公司、北京 瑞普北光电子有限公司、深圳市优嘉骏电子有限公司、陕西航晶微电子有限公司等。 关键词： ...

转自：中国质量报 为破解这些难题，湖北省市场监管局提出三大行动路径：一是激活企业主力军作用，通过政策激励和能 力建设，破解企业"不敢做、不会做"国际标准的难题；二是打造产业标准共同体，构筑"光谷标准高 地"，贯通产学研标转化链；三是构筑开放合作枢纽，拓展标准国际化"新蓝海"，深化与ISO/IEC国内技 术对口单位战略合作。 市场监管总局标准创新司司长肖寒对本次活动给予高度评价。他认为此次对接推进活动组织高效、对接 精准、成效显著，为解决企业标准化难题提供了务实高效的平台。他表示，将全力支持湖北省承担重要 国际标准化组织（如ISO、IEC）的国内技术对口分支机构建设，为湖北省深度参与全球标准治理、取 得国际标准化工作新突破提供强有力支撑。 湖北省市场监管局相关负责人表示，将以此次活动为重要契机，全面梳理企业提出的标准需求清单，安 排专人提供跟踪服务。未来，湖北省将持续优化政策环境，加强信息共享和技术交流平台建设，引导和 支持更多企业将创新成果转化为标准，以高标准支撑高水平开放和高质量发展，为湖北加快建设全国构 建新发展格局先行区、提升支点功能提供坚实的标准化支撑。 活动期间，3场专题对接活动同步开展，为不同产业 ...