Zhi Tong Cai Jing·2025-09-03 06:36Core Viewpoint - The stock price of Changfei Optical Fiber and Cable (06869) has surged over 10%, driven by increased capital expenditure in AI data centers and the anticipated rise in demand for low-loss optical fibers such as multimode and hollow-core fibers [1] Company Summary - As of the latest report, Changfei Optical Fiber's stock rose by 10.05% to HKD 49.5, with a trading volume of HKD 2.416 billion [1] - The company is the sole winner of a bid for the first commercial hollow-core fiber project by China Mobile, with a bid price of approximately CNY 36,000 per core kilometer [1] - The recent announcement indicates that products related to data centers currently represent a small proportion of global optical fiber demand, and hollow-core fiber is still in the early stages of commercialization [1] Industry Summary - AI data center capital expenditures are expected to increase significantly, leading to a rapid rise in the use of low-loss optical fibers [1] - Hollow-core fiber, which uses air as a transmission medium, is projected to have a compound annual growth rate (CAGR) of 56.52% over the next six years [1] - The commercialization of hollow-core fiber is anticipated to accelerate with the first commercial deployment by China Mobile in July 2025 [1] - There is considerable uncertainty regarding the future applications and business development of hollow-core fiber, as it has not yet formed stable pricing or profit levels [1]