天孚通信：目前未发现因为关税政策导致客户需求的明显调整

Core Viewpoint - The company has not observed any significant adjustments in customer demand due to tariff policies, with stable order business and continuous growth in new products [1] Group 1: Business Operations - The company's order business remains stable, and new products are consistently increasing in volume [1] - The first phase of the company's factory in Thailand was completed and put into production last year, with major customer certifications already passed [1] - The second phase of the factory is expected to complete renovations soon, with equipment installation and debugging of production lines underway [1] Group 2: Product Development - The company showcased products at OFC2025, focusing on FAU (Fiber Array Unit) and POSA (Passive Optical Components) for co-packaged optics (CPO) and high-speed optical module applications [1] - These products are core components of optical communication systems, supporting transmission rates of 400G, 800G, and 1.6T and above, catering to high bandwidth demands in AI and data center scenarios [1]