【私募调研记录】复胜资产调研仕佳光子

Group 1 - The core viewpoint of the news is that the private equity firm, Fusheng Asset Management, has conducted research on the listed company Shijia Photonics, highlighting its recent business progress and future plans [1] - Shijia Photonics has successfully mass-produced its MT-F products for 800G/1.6T optical modules and completed the R&D and verification of WG chips and components for 1.6T optical modules [1] - The company is advancing its MPO product expansion plan, focusing on factory planning, equipment installation, and personnel recruitment and training [1] Group 2 - Shijia Photonics has developed a 100G EML laser and is internally verifying a 10G 1577nm EML+SO laser, while 50G PON EML products are undergoing customer validation [1] - The company is working on improving the yield rates across its product lines, with results gradually translating into cost optimization benefits [1] - The increase in inventory is attributed to strategic stocking of key raw materials and the accumulation of general materials and semi-finished products [1] Group 3 - Capital expenditures have risen due to increased R&D investments, capacity expansion, and overseas layout, with plans for dynamic optimization of capital allocation in the future [1]