Zhi Tong Cai Jing·2025-08-28 08:35Core Viewpoint - Changfei Fiber Optics (601869) and its cable (06869) saw a significant increase of over 21% in the afternoon, with the stock price doubling within the month, currently trading at 53.1 HKD with a transaction volume of 2.579 billion HKD [1] Group 1: Market Performance - Changfei Fiber Optics' stock price has increased by 18.95% as of the latest report, indicating strong market interest and performance [1] Group 2: Technological Developments - Nvidia recently launched the new Spectrum-XGS Ethernet technology, which integrates geographically dispersed data centers into a unified AI super factory to address the physical limits of power and space in single data centers [1] - The core of the Scale-Across technology is to solve the long-distance, high-performance interconnection issues between distributed data centers, highlighting the importance of advanced communication mediums [1] Group 3: Industry Insights - According to Zhongtai Securities (600918), hollow-core fiber, which uses air as the transmission medium, is characterized by lower latency and lower loss, making it a key product for future AI data center interconnections [1] - The first commercial use of hollow-core fiber by China Mobile (600941) is expected in July 2025, with Changfei Fiber Optics being the sole bidder at an actual bid price of approximately 36,000 RMB per core kilometer [1] - China Telecom (601728) plans two tenders for hollow-core fiber in 2025, with the maximum price limit estimated between 37,000 to 50,000 RMB per core kilometer, suggesting a potential for price reduction as market demand and production capacity expand [1]