源杰科技：如市场发展不及预期 公司数据中心市场销售收入将受较大影响

Core Viewpoint - The stock of Yuanjie Technology (688498) has experienced an abnormal trading fluctuation, with a cumulative price increase deviation of over 30% in three consecutive trading days [1] Company Summary - Yuanjie Technology's products are primarily used in the optical communication field, with the optical chip industry being an upstream segment of the optical communication supply chain [1] - The company's future operating performance may face volatility risks if the demand from downstream markets, such as telecommunications and data centers, does not meet expectations [1] Industry Summary - The demand for optical chips is highly influenced by the development trends in the downstream telecommunications market and data center market [1] - If the data center market develops below expectations, or if the domestic substitution process is hindered, or if there is an accelerated product iteration speed or intensified industry competition, the sales revenue of the company in the data center market will be significantly impacted [1]