腾景科技：高端光学元器件的国产替代“攻坚者”

Core Viewpoint - The precision optical components are becoming essential for various advanced technologies, including AI, quantum computing, and optical communication, with companies like Tengjing Technology leading the domestic substitution trend in China [1][3]. Industry Overview - The optical components are critical in modern technology, playing an irreplaceable role in communication, AI, high-end equipment, and advanced manufacturing [3]. - China holds a significant position in the global optical communication market, with leading companies like Huawei and ZTE, but still relies on imports for certain high-speed optical chips and specialized materials [3]. - The development of information infrastructure is crucial for national security and economic transformation, emphasizing the need for self-sufficiency in key technologies [3]. Company Strategy - Tengjing Technology is focusing on the rapid development of high-speed optical interconnection technologies driven by AI computing demands, expanding its product and technology layout in optical communication [4]. - The company is addressing the challenges of domestic substitution in semiconductor equipment, particularly in photolithography machines, which are critical for chip manufacturing [4][5]. - Tengjing Technology is accelerating technological breakthroughs and product applications in the semiconductor and optical communication sectors, providing key components and achieving significant progress [5]. Technological Advancements - The company has established six core technology platforms, including optical films, precision optics, and fiber devices, which form a comprehensive technical system for manufacturing optical components [7][8]. - The complexity of manufacturing processes and the need for high reliability create significant entry barriers for new competitors, requiring extensive R&D and production experience [8]. - Continuous R&D and talent development are crucial for the company's innovation and ability to meet the evolving demands of the optical electronics industry [8][9]. Future Outlook - R&D innovation is a direct driver of business expansion and profitability in the optical electronics sector, with a focus on high-end component domestic substitution and technological advancements [9].