Financial Performance - The company's revenue for Q1 2025 reached ¥370,555,568.42, representing a 65.96% increase compared to ¥223,282,260.29 in the same period last year[5] - Net profit attributable to shareholders was ¥79,369,583.24, a significant increase of 149.99% from ¥31,749,073.02 year-on-year[5] - The net profit excluding non-recurring gains and losses was ¥78,210,269.25, marking a 200.50% increase from ¥26,027,009.12 in the previous year[5] - Basic earnings per share rose to ¥0.35, a 150.00% increase from ¥0.14 in the previous year[5] - Total operating revenue for the current period reached ¥370,555,568.42, a significant increase from ¥223,282,260.29 in the previous period, representing a growth of approximately 66.1%[20] - Net profit for the current period was ¥79,369,583.24, up from ¥31,749,073.02 in the previous period, reflecting a growth of approximately 149.5%[22] - Earnings per share (EPS) for the current period was ¥0.35, compared to ¥0.14 in the previous period, marking an increase of 150%[22] - The total comprehensive income for the current period was ¥81,582,083.08, compared to ¥32,276,057.45 in the previous period, indicating an increase of about 153.5%[22] Cash Flow and Liquidity - The company's cash flow from operating activities increased by 117.85%, amounting to ¥96,178,412.79 compared to ¥44,149,505.83 in the same quarter last year[5] - The net cash flow from operating activities was $96,178,412.79, an increase from $44,149,505.83 in the previous period, representing a growth of approximately 117%[25] - Cash received from sales of goods and services was ¥362,552,545.64, compared to ¥226,328,307.96 in the previous period, showing an increase of about 60.2%[24] - Total cash inflow from investment activities amounted to $135,588,496.97, compared to $84,341,584.25 previously, indicating a growth of about 60%[25] - The total cash and cash equivalents at the end of the period reached $659,255,974.64, up from $477,296,444.26, marking an increase of approximately 38%[26] - The net increase in cash and cash equivalents for the period was $173,272,553.89, compared to $109,617,111.35 in the prior period, reflecting a growth of about 58%[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,162,436,802.48, an 8.45% increase from ¥1,993,945,838.35 at the end of the previous year[5] - Total liabilities increased to ¥508,710,781.45 from ¥433,621,589.15, representing a rise of about 17.3%[18] - Total equity attributable to shareholders reached ¥1,633,951,129.85, up from ¥1,542,611,036.89, indicating an increase of approximately 5.9%[18] - The company's cash and cash equivalents increased to ¥644,189,538.16 from ¥473,173,854.88, representing a growth of approximately 36.1%[16] - Accounts receivable decreased to ¥453,550,724.10 from ¥478,885,478.33, a decline of about 5.3%[17] - Inventory increased to ¥364,772,421.45 from ¥307,346,334.68, reflecting a rise of approximately 18.7%[17] - The company’s non-current assets totaled ¥316,257,975.36, slightly up from ¥305,256,078.84, showing a growth of about 3.3%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 45,649[12] - The largest shareholder, Huayang Import and Export (Shenzhen) Co., Ltd., holds 10.17% of shares, totaling 23,094,720 shares[12] Strategic Initiatives - The increase in revenue was driven by growing market demand for the company's products, particularly due to advancements in AI technology[10] - The company plans to continue focusing on R&D for key components to replace external sourcing, which is expected to improve gross margins further[10] - The company approved a 2024 employee stock ownership plan, allowing up to 180,000 shares to be allocated at a price of ¥16.95 per share[13] - The first lock-up period for the employee stock ownership plan will end on March 14, 2025, with a 50% unlock ratio[15] Other Financial Metrics - The weighted average return on equity improved to 5.02%, up from 2.30% year-on-year, reflecting enhanced profitability[5] - The company reported a significant increase in investment income, which rose to ¥743.64, a staggering 33,247.09% increase from ¥2.23 in the previous year[10] - Total operating costs amounted to ¥266,160,281.68, compared to ¥187,595,372.30 in the prior period, indicating an increase of about 42%[21] - Deferred income increased to ¥14,845,851.72 from ¥13,862,182.11, reflecting a growth of approximately 7.1%[18] - Other comprehensive income after tax for the current period was ¥150,820.97, with no prior period figure reported[22] Audit Information - The company did not undergo an audit for the first quarter report[27]

Investment Rating - The report maintains an "Overweight" rating for the communication sector and its sub-sectors, including telecommunications operators and data centers [9]. Core Insights - The communication sector's fund holdings decreased to 2.32% in Q1 2025, down 1.06 percentage points from the previous quarter, indicating a shift from overweight to underweight status [2][3]. - The report highlights a positive outlook for telecommunications operators, AI computing chains, and new productivity sectors such as commercial aerospace, low-altitude economy, and deep-sea technology [2][3]. - The TTM P/E ratio for the communication sector as of April 25, 2025, is 29.33x, which is at the 5.90% historical percentile since early 2011 [3][14]. Summary by Sections Market Overview - The communication index rose by 1.32% last week, outperforming the Shanghai Composite Index (0.56%) and the Shenzhen Component Index (1.38%) [2][13]. - Public funds have increased their holdings in data centers, operators, and offshore wind sectors while reducing positions in optical modules and wireless devices [3][14]. Key Companies and Dynamics - Recommended companies include ZTE Corporation, Zhongji Xuchuang, Xinyi Technology, Tianfu Communication, Taicheng Light, and WanGuo Data for AI computing chains [4]. - Core asset value reassessment is suggested for China Mobile, China Telecom, and China Unicom, while Les Information is highlighted for new productivity sectors [4]. Fund Holdings and Changes - The top five companies in terms of fund holdings in Q1 2025 are Xinyi Technology, Zhongji Xuchuang, China Mobile, ZTE Corporation, and China Telecom, with total market values of 120.33 billion, 103.64 billion, 73.51 billion, 49.16 billion, and 36.46 billion respectively [25][26]. - The report notes significant increases in holdings for companies like Aofei Data and Runze Technology, with respective increases of 11.89 billion and 10.94 billion in market value [24]. Sector Trends - The report emphasizes the ongoing development of 5G technology and its applications, including the successful demonstration of 5G NR broadcasting in Hainan [28]. - The establishment of high-speed data centers, such as the China Mobile Yangtze River Delta data center, is noted as a significant investment in infrastructure [35].

2024年，中兴通讯5G基站与核心网连续第五年全球发货量位居第二、国产智算服务器实现规模发货； 太辰光多个光密集连接产品实现技术突破；广和通让机器视觉、语音交互等能力在模组级产品中实 现"轻量化落地" ◎记者时娜徐潇潇 5G标准必要专利声明量全球领先，空芯光纤、高速光电模块器件研制取得新进展，万兆光网启动试 点，低空智联网、星间及星地通信等加快建设应用，自研AI大模型多项能力实现升级……2024年以 来，我国通信行业关键领域创新持续取得突破，深市通信企业成为其中的重要贡献者。 从通信元器件到智算新基建，聚焦"连接+算力+AI"，深市通信企业全面助力全球构建万物互联的智能 世界。2024年，中兴通讯5G基站与核心网连续第五年全球发货量位居第二、国产智算服务器实现规模 发货；太辰光多个光密集连接产品实现技术突破；广和通让机器视觉、语音交互等能力在模组级产品中 实现"轻量化落地"。 夯实数字经济通信"底座" 资本市场助力通信龙头抢抓机遇 深交所通过多元化的资本市场工具和创新服务生态，为中兴通讯、广和通、太辰光等通信龙头企业筑路 数字经济、赋能各行各业智能化升级、竞逐AI与算力新赛道提供了强大助力。 2020年，中兴 ...

深圳太辰光通信股份有限公司 2024 年度股东大会决议公告 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。 特别提示： 证券代码：300570 证券简称：太辰光 公告编号：2 0 2 5 -0 1 9 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议； 3、本次股东大会以现场结合网络投票方式召开； 4、为尊重中小投资者利益，提高中小投资者对公司股东大会决议事项的参与度， 本次股东大会对中小投资者进行单独计票。中小投资者是指除上市公司董事、监事、高 级管理人员以及单独或者合计持有公司5%以上股份的股东以外的其他股东。 一、会议基本情况 （一）会议召开时间： 1、现场会议召开时间：2025年4月25日14:30（星期五） 2、网络投票时间： （1）通过深圳证券交易所交易系统投票的时间为2025年4月25日9:15~9:25， 9:30~11:30和13:00~15:00； （2）通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票时间 为2025年4月25日9:15至15:00期间的任 ...

广东深天成律师事务所 关于深圳太辰光通信股份有限公司 2024 年度股东大会的法律意见书 2025 粤天成意字第[FG0006-1 号] 致：深圳太辰光通信股份有限公司 广东深天成律师事务所（以下简称"本所"）根据贵公司的委托，指派律师 列席贵公司 2024 年度股东大会（以下简称"本次股东大会"），并就本次股东 大会召开的有关事宜，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司股东大会规则》（以下简称"《规则》"）等法律、法规、规范性文 件及《深圳太辰光通信股份有限公司章程》（以下简称"《公司章程》"）的有 关规定，出具本法律意见书。 为了出具本法律意见书，本所律师列席了本次股东大会并核查了贵公司提供 的有关召开本次股东大会相关文件的原件或影印件，包括（但不限于）贵公司关 于召开本次股东大会的通知，贵公司本次股东大会的各项议程及相关决议等文件， 同时听取了贵公司就有关事实的陈述和说明。 一、关于本次股东大会的召集和召开 1、贵公司董事会于 2025 年 3 月 29 日在深圳证券交易所网站、巨潮资讯网 刊登了《深圳太辰光通信股份有限公司关于召开 2024 年度股东大会的通知》（以 下简 ...

Group 1 - The F5G concept sector rose by 1.62%, ranking second among concept sectors, with 26 stocks increasing in value, including Shijia Photon, Taicheng Light, and Huamai Technology, which rose by 18.36%, 6.33%, and 6.08% respectively [1][2] - The sector saw a net inflow of 777 million yuan from main funds, with 19 stocks receiving net inflows, and 5 stocks attracting over 50 million yuan, led by Zhongji Xuchuang with a net inflow of 483 million yuan [2][3] - The top three stocks by net inflow ratio were Xingwang Ruijie, Huagong Technology, and Zhongji Xuchuang, with net inflow ratios of 12.40%, 9.77%, and 8.75% respectively [3] Group 2 - The stocks with the largest declines included Chuling Information, Jinxin Nuo, and Tiandi Technology, which fell by 1.63%, 1.60%, and 1.25% respectively [1][5] - The F5G concept sector's performance was contrasted with other sectors, such as biomass power generation, which rose by 1.92%, while the South Korea-China Free Trade Zone fell by 1.94% [2]

证券代码：300570 证券简称：太辰光 深圳太辰光通信股份有限公司投资者关系活动记录表 编号：2025-001 | 投资者关系活 | □特定对象调研 □分析师会议 | | --- | --- | | 动类别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称 | 参与公司 2024 年度业绩网上说明会的投资者 | | 及人员姓名 | | | 时间 | 2025 年 4 月 18 日 15:00-16:30 | | 地点 | 深圳证券交易所"互动易"平台 | | 上市公司接待 | 董事长：张致民先生； | | 人员姓名 | 总经理、董事、财务总监：张艺明先生； | | | 副总经理、董事、技术总监：肖湘杰先生； | | | 董事会秘书：蔡波女士； | | | 独立董事：周新黎女士。 | | | 问题 1 | | | 问：请问公司什么时候分红？ | | | 答：您好！公司将于 2025 年 4 月 25 日召开 2024 年度股东 | | | 大会，股东大会审议通过利润分配方案后，公司将在两个月 | | ...

其中2024 年营收13.78 亿元，归母净利润2.61 亿元，位于此前预测区间2.3-2.75 亿元上沿；从公司单Q4 看，公司营收4.61 亿元，环比增长13.77%；毛利率达到39.25%，环比提升3 个百分点；净利率26.46%， 环比提升10 个百分点，盈利能力大超预期。以单一大客户营收看 2024 年贡献了9.6 亿收入，同比增长 50%，外销收入毛利率整体达到39%。当前北美在积极建立各类AIDC，而且投入周期都是为多年维度 （如星际之门项目等），大客户又是北美最大的数据中心布线商，公司有望深度受益。 产能积极扩张，积极布局高密度光互联。展望2025 年景气度非常旺盛，公司各类产品线都在全线扩 充，分别在国内和海外均准备产能投产。我们预计到Q2 公司营收体量和利润体量将进一步上台阶。 研发项目上，2024 年报公司提到开发"基于超级算力和AI 服务器的超高密度光背板"，有望应用到AI 服 务器集群等领域。同时，公司在CPO 方向也积极布局。考虑此前Nvidia GTC 大会已经发布的CPO 产 品，预计CPO 的产业推广将在2025 年各类展会上正式拉开帷幕。 催化剂：CPO 需求放量；新客户导 ...

欢迎广大投资者积极参与。 特此公告！ 深圳太辰光通信股份有限公司 关于举行 2024 年度业绩网上说明会的公告 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。 深圳太辰光通信股份有限公司（以下简称"公司"）2024 年年度报告已于 2025 年 3 月 29 日披露。为了让广大投资者进一步了解公司经营情况和发展规 划等相关问题，公司拟于 2025 年 4 月 18 日（星期五）15:00 至 16:30 举行 2024 年度业绩网上说明会。本次业绩说明会将通过深圳证券交易所提供的"互动易" 平 台 采 用 网 络 远 程 的 方 式 举 行 ， 投 资 者 可 登 录 " 互 动 易 " 平 台 （http://irm.cninfo.com.cn），进入"云访谈"栏目参与本次业绩说明会。 公司出席本次业绩说明会的人员有：公司董事长张致民先生、总经理（董事、 财务总监）张艺明先生、副总经理（董事、技术总监）肖湘杰先生、董事会秘书 蔡波女士、独立董事周新黎女士。 为充分尊重投资者、提升交流的针对性，公司现就本次业绩说明会提前向投 资者公开征集问题，广泛听取投资者意 ...

Industry Rating - The industry investment rating is maintained at "Outperform the Market" [1] Core Viewpoints - CPO technology integrates ASIC chips and optical engines on the same high-speed motherboard, reducing signal attenuation, system power consumption, and costs while achieving high integration, applicable in data centers, high-performance computing, AI, and virtual reality [2] - The CPO market is expected to grow rapidly, with Yole predicting a market size of $2.6 billion by 2033, driven by AI demand and requiring collaboration across the industry chain [2] - Major overseas companies are leading the CPO industry development, with significant advancements from Broadcom, Marvell, TSMC, and NVIDIA [2][3] Summary by Sections 1. CPO Technology and Development Trends - CPO technology addresses bandwidth and power challenges, with a 25%-30% reduction in total power consumption for 51.2T switches compared to traditional solutions [12] - CPO technology offers low power consumption, low latency, high bandwidth, improved system performance, and cost-effectiveness [15] - Silicon photonics is becoming the main path for CPO technology due to its high integration and compatibility with CMOS processes [18] 2. CPO Market Size and Major Drivers - The CPO market is projected to grow at a CAGR of 69% from $600,000 in 2022 to $287 million in 2033, while OIO is expected to grow at a CAGR of 81% from $500,000 to $2.3 billion [31] - Major players in the CPO market include Broadcom, Intel, NVIDIA, and Marvell, with significant contributions from laser manufacturers and silicon photonics foundries [35] 3. CPO Switch Internal Structure - CPO switches consist of key components such as ASIC chips, optical engines, external light sources, and flexible optical backplanes [63] - The optical engine is crucial for optical-electrical conversion, with various packaging methods impacting performance and integration [67] 4. Recommended Companies to Watch - Companies actively involved in CPO technology include: - Zhongji Xuchuang, focusing on high-end optical communication modules and CPO-related products [96] - Xinyi Sheng, leveraging silicon photonics technology for CPO applications [101] - Tianfu Communication, developing multiple projects related to CPO components [106] - Taichuang, specializing in optical communication devices and flexible boards [111] - Yuanjie Technology, providing CW light sources for CPO applications [116] - Shijia Photon, offering components for CPO packaging [121] - Guangxun Technology, launching CPO ELS light source modules [126] - Robotech, focusing on silicon photonics and CPO packaging equipment [131] - Ruijie Network, releasing CPO switches with significant market presence [136]