算力狂飙带飞光模块，5000亿中际旭创再创新高

Core Insights - The domestic computing power industry is experiencing a significant surge driven by AI demand, technological advancements, and overseas expansion, with a strong growth outlook for optical modules [1][2][3] Industry Overview - By 2025, the domestic computing power sector is expected to enter a phase of explosive growth, characterized by high capital expenditure from major companies and a consensus on domestic computing power [1][2] - The Chinese optical module market is poised to benefit from this computing revolution, with leading companies like Zhongji Xuchuang and Xinyi Sheng showing substantial revenue and profit increases [2][4] Company Performance - Zhongji Xuchuang reported a revenue of 14.789 billion yuan in the first half of 2025, a year-on-year increase of 36.95%, with a net profit of 3.995 billion yuan, up 69.4%, and a gross margin of 39.96% [4] - Xinyi Sheng demonstrated explosive growth with a revenue of 10.437 billion yuan, a 282.64% increase year-on-year, and a net profit of 3.942 billion yuan, up 355.68% [5] Market Dynamics - The demand for optical modules is expected to rise significantly due to the increasing need for high-end computing power, particularly in AI training and inference scenarios [3][6] - The global AI computing power market is projected to reach 1.2 trillion USD by 2025, with China accounting for 38% of this market [3] Policy and Technological Support - The Chinese government is intensifying its focus on foundational research and key technology breakthroughs to support the development of the computing power industry [1][2] - Recent policies aim to enhance the construction of new information infrastructure and accelerate the integration of computing power with various industries [1][2] Competitive Landscape - Chinese optical module manufacturers are establishing a strong foothold in the global midstream market, with Zhongji Xuchuang and Xinyi Sheng ranking among the top three globally [5] - The competitive edge of Zhongji Xuchuang lies in its high-quality delivery capabilities and technological advancements, particularly in the 1.6T optical module segment [8]