Core Viewpoint - The article highlights the resurgence of the optical communication sector driven by the accelerating demand for AI computing power, leading to significant stock price increases for key companies in the industry [2][3][4]. Group 1: Market Performance - The A-share market saw all three major indices rise, with the Shanghai Composite Index up 0.54%, the Shenzhen Component Index up 1.39%, and the ChiNext Index up 2.6%. The total market turnover reached 2.05 trillion yuan, an increase of 312.6 billion yuan from the previous day [2]. - The optical communication sector experienced a notable rebound, with companies like Tianfu Communication and Zhongji Xuchuang reaching historical highs [3]. Group 2: AI Competition and Sector Dynamics - The acceleration of AI competition has led to a broad increase in various sectors, particularly in communication equipment, energy metals, semiconductors, and electronic components, while coal and mining sectors saw declines [7]. - Within communication equipment, the optical communication sector saw a comprehensive surge, with Tianfu Communication hitting a daily limit increase of 20%, and Zhongji Xuchuang and Xinyi Sheng rising over 6% [8]. Group 3: Investment Trends and ETF Performance - The Communication Equipment ETF (159583) rose by 5.65%, reaching a historical net value high, with a year-to-date increase of 106.11%, making it one of the top performers in the market [8][11]. - The optical module "three musketeers" (Xinyi Sheng, Zhongji Xuchuang, Tianfu Communication) ranked among the top three in market turnover, each exceeding 10 billion yuan [10]. Group 4: Demand and Supply Dynamics - The demand for optical modules is expected to rise significantly, with North American tech companies projected to spend over $470 billion on capital expenditures by 2026, primarily for computing power [15]. - The anticipated demand for 1.6T optical modules has been revised upward to over 30 million units for next year, a substantial increase from the previous estimate of 20 million units [18]. Group 5: Future Outlook - The optical module industry is expected to maintain high growth rates through 2027, driven by sustained demand and supply constraints, with key suppliers gaining more leverage in the market [24]. - The article emphasizes the potential for investment in optical communication companies, particularly as the North American computing market has not yet reached its ceiling [25].

证券代码：300394 证券简称：天孚通信 公告编号：2025-057 苏州天孚光通信股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 1、公司前期披露的信息不存在需要更正、补充之处； 3、公司目前经营情况正常，近期公司经营情况及内外部经营环境未发生重大 变化； 2、公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生较 大影响的未公开重大信息； 4、公司目前正筹划在香港联合交易所有限公司（以下简称"香港联交所"） 发行H股上市事项，相关细节和方案尚未确定，具体如下： 为持续推进公司国际化战略和全球化布局，打造国际化资本运作平台，进一步 提升公司治理水平和核心竞争力，助力公司高质量发展，公司目前正筹划在香港联 交所发行H股上市事项（以下简称"本次H股上市"），公司正在与相关中介机构就 本次H股上市的具体推进工作进行商讨，相关细节尚未确定，本次H股上市不会导 致公司控股股东和实际控制人发生变化。 根据《深圳证券交易所创业板股票上市规则》《境内企业境外发行证券和上市 一、股票交易异常波动的具体情况 苏州天孚光通信股份有限 ...

12月8日，A股全线走高，全A成交额重返2万亿元上方；港股走势疲弱，恒生指数跌超1%。 A股放量大涨。 具体来看，A股市场主要股指盘中强势上扬，创业板指一度大涨超3%。截至收盘，沪指涨0.54%报3924.08点，深证成 指涨1.39%，创业板指涨2.6%，科创50指数涨1.86%，沪深北三市合计成交20517亿元，较此前一日增加逾3100亿元。 全A超3400股飘红，券商板块盘中拉升，兴业证券一度涨停；福建本地股掀涨停潮，福建金森、厦门空港、厦门港务 等涨停；存储芯片概念活跃，香农芯创、江波龙等大涨；CPO概念爆发，东田微、致尚科技20%涨停，天孚通信盘中 涨停，源杰科技涨超11%，中际旭创涨超6%，均创历史新高。 | 代码 | 名称 | | 涨幅% | 现价 | 张跌 | 兴价 | 卖价 | 总量 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 301183 东出微 | | | R 20.00 | 164.14 | 27.36 | 164.14 | - | 105616 | | 301486 致尚科技 | | R | 20.00 | ...

Core Viewpoint - The local stocks in Fujian have experienced a surge, with over 20 stocks hitting the daily limit up, indicating strong market activity and investor interest in the region [3][12]. Group 1: Market Performance - The Fujian sector's trading volume reached 1739.2 billion, with more than 20 stocks hitting the daily limit up [3]. - The CPO (Co-Packaged Optics) sector led the gains, with major players like Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication each exceeding 160 billion in trading volume [3]. - Tianfu Communication hit a historical high with a closing increase of 19.19%, bringing its market capitalization to 184.17 billion [3][8]. Group 2: Sector Highlights - The technology sector remains active, particularly in the computing power industry chain, with significant gains in CPO, F5G, optical fiber, and storage chip sectors [5]. - Companies like Dongtian Micro and Zhishang Technology achieved a daily limit up, while Tianfu Communication and Changguang Huaxin saw substantial price increases [5]. - The component sector also showed strong performance, with companies like Taijing Technology and Jingwang Electronics hitting the daily limit up [9]. Group 3: Policy and Development - The Xiamen Municipal Committee has proposed a plan to advance the digital transformation of the city, emphasizing the development of AI and digital infrastructure [12]. - The plan includes enhancing the supply of computing power, algorithms, and data to support the city's digital economy [12]. - There is a focus on regional collaborative development, strengthening transportation networks, and integrating into national markets [14].

两市全天特大单净流入125.82亿元，其中55股特大单净流入超2亿元，中信证券特大单净流入12.48亿 元，特大单净流入资金居首。 从申万一级行业来看，今日有16个行业特大单资金净流入，电子特大单净流入规模居首，净流入资金 84.69亿元，该行业指数今日上涨2.60%，其次是通信，今日上涨4.79%，净流入资金为36.86亿元，净流 入资金居前的还有机械设备、非银金融等行业。 | 代码 | 简称 | 收盘价（元） | 涨跌幅（%） | 特大单净流入（亿元） | 行业 | | --- | --- | --- | --- | --- | --- | | 600030 | 中信证券 | 28.70 | 3.02 | 12.48 | 非银金融 | | 300394 | 天孚通信 | 236.90 | 19.19 | 12.08 | 通信 | | 300476 | 胜宏科技 | 287.01 | 5.54 | 10.48 | 电子 | | 300475 | 香农芯创 | 143.36 | 15.25 | 10.03 | 电子 | | 601377 | 兴业证券 | 7.70 | 6.94 | 9.77 | 非银金融 | ...

Market Overview - The Shanghai Composite Index rose by 0.54% on December 8, with 25 out of 28 sectors experiencing gains, led by the communication and comprehensive sectors, which increased by 4.79% and 3.03% respectively [1] - The coal and oil & petrochemical sectors saw declines of 1.43% and 0.84% respectively [1] Capital Flow - The net inflow of capital in the two markets was 2.602 billion yuan, with 15 sectors experiencing net inflows [1] - The electronics sector had the highest net inflow of 8.273 billion yuan, followed by the communication sector with a net inflow of 2.387 billion yuan [1] Communication Sector Performance - The communication sector increased by 4.79%, with a net inflow of 2.387 billion yuan, and 109 out of 124 stocks in this sector rose today [2] - Notable stocks with significant net inflows included Xinyi Technology (6.10 billion yuan), Tianfu Communication (5.10 billion yuan), and Guodun Quantum (4.06 billion yuan) [2] Communication Sector Capital Outflow - The communication sector also had stocks with significant net outflows, with Yongding Co. leading at -348.15 million yuan, followed by ZTE Corporation at -268.04 million yuan, and Nanjing Panda at -238.43 million yuan [3] - Other notable stocks with capital outflows included Putian Technology and China Mobile, with net outflows of -190.26 million yuan and -173.11 million yuan respectively [3]

Group 1 - Fujian local stocks experienced a "limit-up" surge, with over 20 stocks hitting the daily limit [3][13] - The total trading volume for the Fujian sector reached 173.9 billion yuan, indicating strong market activity [3] - Key stocks in the CPO (Co-Packaged Optics) sector, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, saw significant trading volumes exceeding 16 billion yuan each [3][4] Group 2 - Tianfu Communication hit a historical high with a closing price increase of 19.19%, bringing its market capitalization to 184.17 billion yuan [3][4] - The commercial aerospace sector showed volatility, with stocks like Yinbang and Hongxiang hitting the daily limit, while other sectors like coal, non-ferrous metals, and traditional Chinese medicine experienced pullbacks [5] - The large technology sector remained active, with the computing power industry chain continuing to strengthen, particularly in areas like CPO, F5G, and optical fiber concepts [6] Group 3 - The Google supply chain is gaining momentum, driven by advancements in AI, including the release of the Gemini 3 model and new AI training chips by Amazon [11] - The market is showing high participation enthusiasm for leading chip companies like Moer Thread and Muxi [12] - The Xiamen municipal government is promoting digital transformation and AI integration in various sectors, aiming to enhance the city's economic development [15]

一、【早盘盘面回顾】 智通财经12月8日讯，市场早盘震荡反弹，深成指涨超1%，创业板指涨超3%。沪深两市半日成交额1.29 万亿，较上个交易日放量2971亿。盘面上热点快速轮动，全市场超3500只个股上涨。从板块来看，算力 硬件概念爆发，天孚通信20cm涨停创新高，中际旭创涨超8%创新高。商业航天概念延续强势，顺灏股 份7天6板，龙洲股份、航天动力等10余股涨停。福建板块持续活跃，实达集团13天8板，安记食品5连 板。下跌方面，煤炭板块走弱，安泰集团、陕西黑猫下挫。截至收盘，沪指涨0.62%，深成指涨 1.55%，创业板指涨3.02%。 个股来看，今日早盘涨停数量为59家（不包括ST及未开板新股），封板率为73%，连板股数量为22家， 安记食品5连板，龙洲股份4连板，双星新材、舒华体育3连板。 板块上，算力硬件方向涨幅居前，东田微、天孚通信双双20CM涨停，中际旭创涨超8%再创历史新高， 致尚科技、光库科技、源杰科技、罗博特科等个股涨超10%。 | CPO +7.30% + 自选 | | | ( W | | --- | --- | --- | --- | | 股票池 | 未上市公司 | | 2 只看最正宗 □ ...

12月8日，CPO概念股再度走强。具体来看，中际旭创、新易盛、天孚通信等相继走高。其中，天孚通 信盘中20cm涨停并创下238.5元/股的历史新高。截至收盘报236.9元/股，年内累计涨幅高达159%，公司 市值已升至1842亿元。 消息面上，国盛证券在研报中指出，在AI算力需求驱动下，全球光模块产业正加速向800G/1.6T升级。 光隔离器作为光模块中保护激光器的关键无源组件，正因其上游核心材料法拉第旋光片的全球性供应短 缺，成为制约光模块产能扩张的"卡脖子"环节。 另有分析称，谷歌新模型、DeepSeek V3.2、亚马逊Trainium3等AI应用的持续落地，将进一步倒逼算力 基础设施以及端侧算力基础设施加快建设，因此，持续看好相关产业链的投资机会。 而天孚通信既是光模块上游光器件与光组件核心供应商，又是800G、1.6T光模块的代工方；掌握CPO 场景多通道光纤耦合阵列、高功率光引擎等核心技术。 据投资者活动记录表披露，天孚通信目前已具备800G及1.6T高速光引擎的量产能力，1.6T光引擎产品 也在正常交付。 并且，天孚通信的产能端也在进一步扩张。其泰国生产基地分两期投产，第一期项目已于2024年年 ...

通信 12月5日，摩尔线程正式登陆科创板。公司主要从事GPU及相关产品的研发、设计和销售。自2020年成立以来，公司以自主研发的全功能GPU为核心，致力 于为AI、数字孪生、科学计算等高性能计算领域提供计算加速平台。 国盛证券表示，光模块新一轮产能集中释放，业绩打开增长空间。预计2026年一季度将迎来产能集中释放，业绩持续爬坡的关键窗口。从业绩爬坡节奏看， 光模块行业将经历从"产能释放"到"业绩兑现"的渐进过程。初期可能面临良率爬升、成本控制等挑战，但随着生产规模扩大和工艺成熟，规模效应将逐步显 现，推动业绩稳步爬升。聚焦通信全产业链的通信ETF广发(159507)今日收涨4.67%。 Wind数据显示，截至2025年12月8日A股收盘，通信、创业板指、国证芯片领涨市场，涨幅分别为4.79%、2.60%、2.41%。 煤炭 创业板指 Wind数据显示，截至2025年11月底，上市的专精特新"小巨人"公司共1117家，其中420家在创业板上市，占比达到37.60%，占比最高。从已在创业板上市的 专精特新公司行业分布来看，数量占比较高的行业分别为机械、电子、计算机。 国信证券统计指出，从创业板历年的营收增速和归母 ...