源杰科技：未来若市场发展不及预期 公司在数据中心市场的销售收入将受到较大影响

Core Viewpoint - The company, Yuanjie Technology (688498.SH), highlights the volatility risks in its future operating performance due to the dependence on the downstream telecommunications and data center markets, which may not meet expectations [1] Industry Summary - The company's products are primarily used in the optical communication field, with the optical chip industry being upstream in the optical communication supply chain [1] - The demand for optical chips is sensitive to the development trends of the downstream telecommunications and data center markets [1] - If the data center market does not develop as anticipated, or if the localization replacement process is hindered, it could significantly impact the company's sales revenue in this sector [1] Company Summary - The company faces risks of operational performance fluctuations if there is a substantial decline or prolonged downturn in market demand [1] - The acceleration of technological innovation and product upgrades in global optical communication technology is a prevailing trend, necessitating the company to adapt quickly to industry changes [1] - Failure to make proactive judgments and respond swiftly to market dynamics may lead to a loss of market competitiveness, adversely affecting the company's future operating performance [1] - There are uncertainties regarding the progress of product development, client testing, commercialization, mass production capacity ramp-up, and market supply-demand changes [1]