研报掘金丨国盛证券：亨通光电加速AI时代布局，维持“买入”评级

Core Viewpoint - The report from Guosheng Securities highlights that Hengtong Optic-Electric is accelerating its layout in the AI era through a dual-driven approach of optical fibers and optical modules, aiming to strengthen the digital infrastructure for AI applications [1] Group 1: Company Strategy - The company is increasing the production capacity of the next-generation G.654.E and specialty optical fibers to solidify its position in the AI-driven digital infrastructure [1] - Hengtong Optic-Electric is one of the earliest companies in China to achieve the research and industrialization of G.654.E optical fibers, which have already been applied on a large scale in national backbone network projects [1] - The expansion of production capacity will further consolidate the company's leading position in the physical layer transmission medium for AI computing networks [1] Group 2: Product Development - The company has achieved mass application of its 400G optical module products, forming a comprehensive product matrix that covers high, medium, and low-speed optical modules [1] - This comprehensive product offering lays a solid foundation for capturing structural market opportunities brought by AI [1] Group 3: Market Outlook - The dual-driven approach of "optical fiber + optical module" enhances the company's capability to construct full-link optical network solutions [1] - With the new wave of AI infrastructure construction, the company is expected to benefit significantly from the high prosperity of the industry, leading to a potential revaluation of its value [1] - The report maintains a "buy" rating for the company, indicating positive market sentiment [1]