Core Viewpoint - The performance of the storage battery ETF Guangfa (159305) shows a slight decline, indicating market volatility in the energy storage sector [1] Group 1: ETF Performance - As of the midday close on February 4, the storage battery ETF Guangfa (159305) decreased by 0.63%, priced at 1.883 yuan, with a trading volume of 6.08 million yuan [1] - The performance benchmark for the storage battery ETF Guangfa is the return rate of the National Securities New Energy Battery Index during the same period [1] - Since its establishment on September 18, 2024, the fund has achieved a return of 89.55%, with a one-month return of 2.46% [1] Group 2: Major Holdings - Key stocks in the storage battery ETF include: - Contemporary Amperex Technology Co., Ltd. (宁德时代) increased by 1.58% - Sungrow Power Supply Co., Ltd. (阳光电源) decreased by 0.27% - EVE Energy Co., Ltd. (亿纬锂能) decreased by 1.24% - Inovance Technology Co., Ltd. (英维克) decreased by 3.55% - Guoxuan High-Tech Co., Ltd. (国轩高科) decreased by 1.82% - Magpower Technology Co., Ltd. (麦格米特) decreased by 1.40% - Sunwoda Electronic Co., Ltd. (欣旺达) decreased by 0.73% - Deyi Co., Ltd. (德业股份) increased by 0.35% - Keda Technology Co., Ltd. (科达利) increased by 0.01% - Jinpan Technology Co., Ltd. (金盘科技) increased by 2.42% [1]

英维克跟踪点评:根据市场消息，上周四五，谷歌到英维克把26年订单锁死，涉及金额7-8亿美金(50-60亿人民 币)。 上周一去天弘 (谷歌的代工厂商) 去英维克催产能，要求新增十几条线，不仅为谷歌，也为Meta、openai、天弘本身 交换机等液冷需求。 上周一去天弘 (谷歌的代工厂商) 去英维克催产能，要求新增十几条线，不仅为谷歌，也为Meta、openai、天弘本身 交换机等液冷需求。 英维克跟踪点评:根据市场消息，上周四五，谷歌到英维克把26年订单锁死，涉及金额7-8亿美金(50-60亿人民 币)。 ...

截至发稿，吴逸累计任职时间6年65天，现任基金资产总规模79.18亿元，任职期间最佳基金回报 133.93%， 任职期间最差基金回报-40.88%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 数据显示，东财基金旗下1只基金重仓英维克。中证500ETF基金（159337）四季度持有股数3.58万股， 占基金净值比例为0.65%，位居第一大重仓股。根据测算，今日浮盈赚取约18.94万元。 中证500ETF基金（159337）成立日期2024年9月2日，最新规模5.85亿。今年以来收益7.6%，同类排名 748/5562；近一年收益45.95%，同类排名1253/4285；成立以来收益79.97%。 中证500ETF基金（159337）基金经理为吴逸。 2月3日，英维克涨5.1%，截至发稿，报109.10元/股，成交67.24亿元，换手率7.50%，总市值1065.42亿 元。 资料显示，深圳市英维克科技股份有限 ...

Summary of Key Points from Conference Call Records Industry Focus - The focus is on the optical communication industry, particularly companies such as Zhongji Xuchuang, Xinyi Sheng, Runze Technology, Yuanjie Technology, Shijia Photon, and Yingweik [1][1]. Core Insights and Arguments - Zhongji Xuchuang and Xinyi Sheng have announced impressive earnings forecasts for 2025, with expected profit growth rates of 108% and 240% respectively. After accounting for foreign exchange and impairment, the organic growth rates are even stronger [1][1]. - Zhongji Xuchuang is expected to enhance its profitability driven by 1.6T and silicon photonics technologies. The current period is critical for valuation and expectation transitions, with product technology iterations and material reserves for 2026-2027 being key factors determining stock price ceilings [1][1]. - The upcoming earnings season for tech giants and significant industry conferences such as GTC/OFC are seen as important catalysts for the sector, with a focus on companies like Zhongji Xuchuang, Xinyi Sheng, Tianfu, and Huagong, as well as optical chips and devices from Yuanjie, Shijia, and Guangku [1][1]. Additional Important Insights - There is a strong demand for optical communication, with silicon photonics and CPO (Co-Packaged Optics) being highlighted as areas of growth. NVIDIA has officially included silicon photonics and CPO in its technology roadmap, marking 2026 as a pivotal year for large-scale commercialization [2][2]. - The supply-demand gap for optical chips is increasing, with Lumentum reporting a gap of 25-30% by the end of last year, leading to clear expectations for price increases [2][2]. - The optical fiber and cable supply gap and price recovery opportunities have been emphasized, with Corning's stock rising significantly. The price of G.652.D bare fiber has surpassed 30 yuan per core kilometer, with actual transaction prices concentrated between 40-50 yuan, indicating an upward cycle in the industry [3][3]. - The optical fiber and cable price elasticity is underestimated, with the industry entering an upward cycle due to upstream capacity bottlenecks. Both special and ordinary optical fibers are currently in a tight supply-demand balance, warranting further re-evaluation opportunities [3][3]. - The IDC (Internet Data Center) industry chain is expected to benefit from chip supply, capital expenditure demands, and the iteration of domestic AI models and applications. Key areas of focus include core IDC manufacturers bound to cloud providers and related sectors such as power supply and temperature control [3][3].

证券日报网讯2月2日，英维克（002837）在互动平台回答投资者提问时表示，公司于每月初在互动 易"公司声音"栏目中发布上月末股东人数信息，如有需要可定期查阅"公司声音"了解相关信息。 ...

Core Viewpoint - The company is exploring the concept of space computing powered by solar energy, but acknowledges that this area is still in the early stages of exploration with significant uncertainties regarding technical feasibility, economic viability, and scalability [2] Group 1 - The company has noted investor interest in the intersection of space computing and solar energy [2] - The exploration of this direction is still in its infancy, indicating that it is not yet a mature field [2] - There are considerable uncertainties related to the technical, economic, and scalable aspects of this potential business [2]

Group 1 - The core point of the article highlights the performance of the Zhongzheng 500 ETF Tianhong (159820), which experienced a decline of 2.59% to 1.391 yuan at midday, with a trading volume of 6.4037 million yuan [1] - The major holdings of the Zhongzheng 500 ETF Tianhong include stocks such as Yingweike, which fell by 2.51%, and Xinyi Communication, which rose by 1.49%. Other notable movements include Giant Network down 1.43%, and Chifeng Gold down 10.00% [1] - The performance benchmark for the Zhongzheng 500 ETF Tianhong is the Zhongzheng 500 Index return, managed by Tianhong Fund Management Co., Ltd. Since its establishment on August 7, 2020, it has achieved a return of 42.49%, with a monthly return of 12.28% [1]

Summary of Conference Call Records Company and Industry Overview - **Industry Focus**: Overseas computing power and optical module market - **Key Companies Mentioned**: 西部通信 (West Communication), 中际旭创 (Zhongji Xuchuang), 新易盛 (Xinyi Sheng), 英维克 (Yingweike), 福晶科技 (Fujing Technology) Core Insights and Arguments 1. **Optical Module Market**: - Strong demand and material shortages expected in H1 2026, with leading companies showing supply chain advantages [1] - Market sentiment is improving as previous suppressive factors are alleviated, allowing funds to enter the market early [1] - Key price catalysts will emerge as industry guidance for 2027 becomes clearer, particularly after the OFC conference in March [1] - Performance in H1 2026 is anticipated to be the highest among leading optical module companies, with H2 2026 expected to see accelerated performance due to material supply easing [1] 2. **Liquid Cooling Solutions**: - 2026 is projected to be the first year of significant adoption for liquid cooling solutions, with major companies like NV, Meta, and Google leading the way [2] - Estimated value of liquid cooling solutions is approximately $1,400 per 1kW chip, translating to a market potential of $21 billion for 15 million chips [2] - Domestic leaders in liquid cooling for ASIC chips are expected to capture over 20% market share, with overseas orders potentially yielding double the profit margins compared to domestic [2] 3. **Price Increases in Communication Products**: - Recommendations to invest in core communication products due to ongoing price increases driven by supply constraints [2] - Significant supply reductions from global suppliers of Faraday rotators, with Japanese company Granopt reducing production and issuing supply cut notices [2] - Domestic manufacturers like 森一 (Senyi), 飞锐特 (Feiruite), and 福晶科技 (Fujing Technology) are positioned to increase their market share through domestic substitution [2] 4. **Self-Sufficiency in SGGG Crystals**: - 福晶科技 has achieved self-sufficiency in SGGG crystal materials, which is expected to alleviate expansion bottlenecks and significantly increase market share [3] 5. **Data Center Fiber Pricing**: - Continuous price increases for fiber cables noted since January, with expectations of rising demand and prices from domestic operators [3] - Fiber optic cable manufacturers are adopting "same-day valid" pricing due to volatility in raw material costs, leading to a cautious expansion approach [3] Additional Important Insights - The overall sentiment in the overseas computing power sector is shifting positively, with early investments being made in anticipation of future growth [1][2] - The liquid cooling market is set for rapid growth, with significant opportunities for domestic companies to capture market share [2] - The supply chain dynamics in the optical module and communication product markets are critical, with potential for substantial price increases due to supply constraints [2][3]

电新周观点更新：好看太空光伏、储能、锂、钠电 锂电：全国容量电价政策落地，储能爆发确定 #周度变化：1）全国容量电价政策出台，预计储能IRR增加 3%以上，26年会有更多省份储能0-1；2）2月锂电排产 中枢环降10%+，排产淡季不淡；3）钠电宁德开启多个车企冬季测试，Q2有望批量出货。 电新周观点更新：好看太空光伏、储能、锂、钠电 锂电：全国容量电价政策落地，储能爆发确定 #周度变化：1）全国容量电价政策出台，预计储能IRR增加 3%以上，26年会有更多省份储能0-1；2）2月锂电排产 中枢环降10%+，排产淡季不淡；3）钠电宁德开启多个车企冬季测试，Q2有望批量出货。 看好环节排序：储能电芯（鹏辉）＞铁锂正极＞储能集成（海博）＞隔膜（恩捷）、铜铝箔（诺德、鼎胜）、 6F等。 #周度变化：风电板块业绩预告密集落地，受q4出货量下降和年底减值影响，业绩多数不及预期；其中主机板块低 价单已大幅出清，确定性底部已现，预计26Q1毛利率整体开启修复。 看好标的排序：首推金雷股份、大金重工以及主机（金风、三一、运达、明阳）；海风链—塔桩（泰胜、天 顺），海缆（东缆、中天），此外现阶段建议重点关注海力风电。 看好环节排 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the sector, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, among others [11]. Core Insights - The transition to the "Agent" era is accelerating, with AI agents like Clawdbot and Claude Excel evolving from simple conversational tools to essential productivity tools, significantly increasing demand for cloud computing resources [1][20]. - The AI application landscape is fundamentally shifting from simple interactions to deep integration into work processes, marking a new paradigm where AI becomes a core executor in workflows [2][21]. - The emergence of AI agents is driving a qualitative change in underlying computing power demand, as these agents transition from auxiliary tools to autonomous entities [3][22]. - The competition for computing power is intensifying, with rising cloud service prices and continuous growth in capital expenditures (capex) from cloud providers, highlighting the increasing importance of scarce computing resources [4][23]. Summary by Sections Investment Strategy - The report suggests focusing on the computing power sector, particularly in optical communications, with recommended companies including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication [14]. - It also highlights the importance of liquid cooling and edge computing platforms, recommending companies like Yingweike and Meige Intelligent [14]. Market Review - The communication sector has seen an increase, with optical communications performing particularly well, as evidenced by significant stock price increases for companies like Tianfu Communication and Zhongji Xuchuang [16][17]. Computing Power Demand - The report emphasizes that the new operational modes of AI agents lead to a dramatic increase in token consumption, necessitating high concurrency and continuous online capabilities from computing services [5][25]. - Major cloud providers like Google Cloud and Amazon AWS have announced price increases for their services, indicating a shift from a long-term trend of decreasing prices [10][23]. Key Companies and Performance - Zhongji Xuchuang and Xinyi Sheng have shown strong growth, with Zhongji Xuchuang maintaining its leading position in the industry [25]. - The report recommends monitoring the performance of companies involved in the computing power supply chain, including those in optical modules and liquid cooling sectors [25].