Group 1 - Lumentum's stock rose nearly 10% in pre-market trading, expected to reach a new historical high, driven by a significant revenue increase of 65% year-over-year to $665 million for the second quarter ending December 27, surpassing analyst expectations of $652 million [1] - The company's GAAP earnings per share (EPS) was $0.89, significantly above the analyst consensus of $0.49, while the adjusted EPS was $1.67, also exceeding the expected $1.41 [1] - The surge in AI computing power has created an extreme demand for high-speed connectivity, with CPO technology being a core solution to overcome bandwidth and power consumption bottlenecks [1] Group 2 - CITIC Securities noted that since 2025, both Chinese and American tech stocks have performed well, with the computing power sector leading the market, and there are emerging opportunities in models and applications [2] - Looking ahead to 2026, domestic computing power is expected to thrive, with performance elasticity and investment certainty, potentially replicating the long bull market seen in U.S. stocks since 2023 [2] - The urgency for domestic development of semiconductor equipment and AI chips has increased due to overseas restrictions, making localization a prevailing trend [2] Group 3 - The Tianhong CSI All-Share Communication Equipment Index Fund (A Class: 020899, C Class: 020900) achieved the highest annual return among similar themed index equity funds in 2025, reflecting the benefits of the AI computing power explosion [2] - The fund focuses on the optical communication sector, with its top ten weighted stocks heavily concentrated in leading optical communication companies, which are closely tied to the global AI computing supply chain [3] Group 4 - Fund manager Zhang Ge has a deep insight into the communication equipment sector, utilizing a dual-driven investment framework of "AI computing explosion + communication infrastructure upgrade" to guide fund operations [4] - The Tianhong CSI All-Share Communication Equipment Index Fund closely tracks the CSI All-Share Communication Equipment Index, which selects 50 listed companies involved in the communication equipment field to reflect the overall performance of this theme [4]

2月5日，沪深两市成交额合计2.18万亿元，较上一交易日缩量约3047.52亿元。其中，沪市成交额 9469.89亿元，深市成交额1.23万亿元。中际旭创成交额居首，为180.14亿元。其后是贵州茅台、新易 盛、紫金矿业、航天发展，成交额分别为141.83亿元、141.66亿元、134.07亿元、129.3亿元。 ...

来源：新浪基金∞工作室 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。 沪深300ESGETF南方（560180）业绩比较基准为沪深300ESG基准指数收益率，管理人为南方基金管理 股份有限公司，基金经理为李佳亮，成立（2023-04-13）以来回报为19.34%，近一个月回报为1.57%。 2月5日，截止午间收盘，沪深300ESGETF南方（560180）跌0.59%，报1.184元，成交额126.90万元。沪 深300ESGETF南方（560180）重仓股方面，贵州茅台截止午盘涨1.41%，中际旭创涨0.89%，宁德时代 跌1.93%，招商银行涨1.03%，中国平安跌1.16%，美的集团涨1.27%，紫金矿业跌5.29%，长江电力涨 0.49%，兴业银行涨0.89%，比亚迪涨0.98%。 ...

中际旭创 20260204 摘要 中际旭创对 CSP 客户的直接供应关系显示，至 2026 年可插拔光模块需 求依然强劲，800G、1.6T 等高带宽需求未见减少，表明 CPU 技术路线 大规模应用迹象不明显，对可插拔模块需求未构成威胁。 技术路线或产品使用需提前量，目前 CSP 客户对 CPU 技术路线大规模 部署未见行动，中际旭创已在 2025 年 OFC 展示单通道 400G 技术，为 未来 3.2T 可插拔方案提供技术储备，可插拔方案仍是主流选择。 中际旭创已参与 NPU 解决方案，包括 PSC、ESC 两地封装及整体光引 擎，并能独立提供解决方案，满足客户 SKU 需求。从 800G 到 3.2T， 可插拔方案在大规模部署中仍具优势，成熟度、性价比及可靠性获认可。 中际旭创在 PIC 领域的技术优势使其超越传统光模块厂商定义，未来将 拓展业务范围，提升市场竞争力。公司具备自主研发和设计硅光芯片的 能力，并能不断升级迭代，应用于 400G 至 3.2T 可插拔光模块。 2026 年 CSP 客户对可插拔模块需求明确，订单已下达至第四季度，且 全部为可插拔模块。2027 年需求指引依然强劲，主要来自 e ...

截至2026年2月5日 09:32，中证人工智能主题指数(930713)成分股方面涨跌互现，昆仑万维领涨2.24%， 中际旭创上涨1.42%，石头科技上涨0.92%；润泽科技领跌。AI人工智能ETF(512930)最新报价2.23元。 AI人工智能ETF(512930)，场外联接(平安中证人工智能主题ETF发起式联接A：023384；平安中证人工 智能主题ETF发起式联接C：023385；平安中证人工智能主题ETF发起式联接E：024610)。 受美股科技股下跌影响，近期人工智能板块整体回调，行业利好因素仍在，资金逢低布局，AI人工智 能ETF近3天获得连续资金净流入，最高单日获得1.28亿元净流入，合计"吸金"2.09亿元，日均净流入达 6976.52万元。（数据来源：Wind） 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值变化引致的投资风险，由投资人自行负担。基金的过 往业绩及其净值高低并不预示其未来业绩表现，基金管理人管理 ...

Wind数据显示，A股2月4日共有3769只个股获融资资金买入，有452股买入金额超亿元。其中，中际旭 创、新易盛、信维通信融资买入金额排名前三，分别获买入41.64亿元、34.48亿元、20.04亿元。 从融资买入额占当日总成交金额比重来看，有2只个股融资买入额占比超30%。其中方邦股份、光明肉 业、信凯科技融资买入额占成交额比重排名前三，分别为31.91%、30.18%、29.72%。 从融资净买入金额来看，有24只个股获融资净买入超亿元。其中，昆仑万维、宁德时代、捷佳伟创融资 净买入金额排名前三，分别获净买入4.23亿元、3.48亿元、3.39亿元。 ...

预测营业收入498.93~944.77亿元；预测净利润110.11~280.81亿元。 关注后续财报数据披露后能否超预期，朝阳永续A股季度业绩前瞻数据将为投资者提供业绩鉴定。 1. 中际旭创全年业绩预期怎么样？ 截至2026年02月04日，根据朝阳永续季度业绩前瞻数据： | | | 预测营业收入 | 同比 | 预测净利润 | 同比 | 预测扣非净利润 | 同比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 卖方预测区间 | | 498.93~944.77 | | 110.11~280.81 | | - | - | | 平均数 | - | 762.78 | ﺎ | 216.64 | -- | -- | - | | 中位数 | -- | 759.23 | - | 213.37 | - | - | - | | 中原证券 | 2026-02-03 | 819.69 | -- | 260.29 | -- | -- | -- | | 国投证券 | 2026-02-03 | 844.76 | -- | -- | -- | -- | -- | | 天风证券 | 2 ...

随着2025年度A股上市公司业绩预告披露正式收官，中国经济新旧动能加速转换的图景也愈发清晰。巨灵财经数据显示，截 至2026年1月30日，A股5352家上市公司中（剔除上市未满一年公司），共有2963家发布了2025年年报、快报或业绩预告， 披露率达55.36%。其中，1069家公司实现预喜（含预增、略增、扭亏、续盈），预喜率为36.08%，较2024年的33.38%实现 小幅回升，盈利态势逐步回暖。 从整体数据来看，2025年A股行业分化态势尤为突出。非银金融、有色金属等行业表现亮眼，盈利增速显著；房地产、光伏 等传统行业则深陷调整期，持续承受业绩压力；而以半导体、通信设备为代表的新质生产力相关板块，更是迎来业绩爆发 期。这种行业增减的鲜明对比，不仅直观反映了各行业景气度的差异，更清晰展现出中国经济正逐步摆脱传统要素依赖模 式，向创新驱动的高质量发展稳步迈进。 非银金融、有色金属领衔，优势赛道表现亮眼 从各行业具体表现来看，2025年预喜率排名前五的行业分别是非银金融、有色金属、美容护理、汽车和公用事业。这些行业 凭借自身核心优势或行业周期红利，跻身业绩预喜的核心阵营，其中非银金融板块的集体预增表现最为突出 ...

Core Viewpoint - The company has lowered its profit forecast for 2025 while raising the forecasts and target prices for 2026-2027, maintaining a buy rating. The performance is in line with expectations, indicating a gradual improvement in the company's position [1][2]. Financial Performance - The company has adjusted its 2025 net profit forecast to 10.829 billion yuan (previously 11.199 billion yuan), with an EPS of 9.75 yuan. The net profit forecasts for 2026 and 2027 have been raised to 20.753 billion yuan and 27.523 billion yuan, respectively, with EPS of 18.68 yuan and 24.77 yuan [2]. - The company reported a 2025 net profit range of 9.8-11.8 billion yuan, representing a year-on-year growth of 89.50%-128.17%. The consolidated net profit is expected to be 10.5-12.7 billion yuan, with the optical module business contributing a net profit of 10.8-13.1 billion yuan, an increase of 90.81%-131.44% year-on-year [3]. Market Outlook - The 1.6T optical module is expected to see rapid growth in 2026, with further significant demand increases anticipated in 2027. The company provides high-speed optical modules (400G, 800G, and 1.6T) to cloud data center customers, gaining widespread recognition and maintaining market share growth [4]. Catalysts - The progress of AI infrastructure development is exceeding expectations, and the advancement of high-end product research and development is also ahead of schedule [5].

Core Viewpoint - The company expects significant growth in net profit for the year 2025, driven by increased demand for high-speed optical modules due to the rising need for computing power [1] Group 1: Financial Performance - The company forecasts net profit attributable to shareholders to be between 9.8 billion to 11.8 billion, representing a year-on-year growth of 89.5% to 128.17% [1] - Despite facing a reduction in net profit of approximately 606 million due to share-based payment expenses, inventory and receivables impairment losses, and exchange rate losses, investment income and fair value changes contributed an increase of about 296 million [1] Group 2: Market Demand and Growth Drivers - The global AI computing infrastructure is driving a rapid increase in demand for high-end optical modules, with current demand exceeding supply by more than two times [2] - The core growth drivers include strong demand for high-speed optical modules and switches, as well as the promotion of optical interconnect technology in AI scale-up networks [2] - The global Ethernet optical module market is projected to grow by 35% to reach 18.9 billion by 2026, with 1.6T optical modules and silicon photonics technology being key growth engines [2] Group 3: Competitive Position and Technology Leadership - The company has maintained its position as the global market leader in optical modules for four consecutive years, benefiting from strong R&D capabilities, large-scale manufacturing, and efficient delivery systems [3] - The company has established deep strategic partnerships with leading cloud providers, allowing it to align closely with customer needs and maintain strategic initiative amid technological changes [3] Group 4: Product Development and Innovation - Demand for 800G products is consistently increasing, with quarterly growth in shipment volumes, while key customers have begun large-scale deployment of 1.6T products [4] - The silicon photonics technology has successfully passed customer validation, with continuous improvement in product yield and proportion [4] - The company plans to showcase next-generation products at the OFC2025 exhibition and is actively advancing the development of Scale-up optical interconnect architecture, with potential deployment by 2027 [4] Group 5: Investment Outlook - The company holds a dominant position in the optical communication transceiver market with significant technological advantages, presenting clear growth opportunities and valuation enhancement potential [5] - Projected revenues for 2025-2027 are estimated at 38.948 billion, 84.476 billion, and 120.4 billion, with net profits of 11.341 billion, 25.280 billion, and 35.022 billion respectively, leading to a target price of 735.6 yuan based on a 33x PE for 2026 [5]