Venture(US:VEMLY) Xin Lang Ji Jin·2025-11-02 13:54Core Insights - The core viewpoint of the articles indicates a significant decline in the performance of optical module-related stocks, particularly in the AI sector, while highlighting the long-term optimism for the industry despite short-term fluctuations [1][3][4]. Group 1: Market Performance - On October 31, optical module stocks experienced a notable decline, with major players like Tianfu Communication and Zhongji Xuchuang dropping over 8%, and several others falling more than 5% [1]. - The largest and most liquid AI ETF on the ChiNext board (159363) saw a decline of over 3%, marking three consecutive days of losses, with a total trading volume exceeding 900 million yuan [1]. - Despite the downturn, there was a net subscription of 82 million units for the ETF, following a cumulative net purchase of over 200 million yuan in the previous three days [1]. Group 2: Industry Analysis - The recent fluctuations in the optical module market are attributed to performance volatility post-earnings reports, with the ChiNext AI sector experiencing a pullback after five consecutive months of gains [3]. - New Yi Sheng's third-quarter revenue was reported at 6.068 billion yuan, reflecting a nearly 5% quarter-on-quarter decline, breaking a streak of continuous growth since Q1 2023 [3]. - Analysts from Citigroup suggest that the stock price volatility of New Yi Sheng may be a one-time event, with expectations of significant profit growth in Q4, indicating potential buying opportunities [3]. Group 3: Long-term Outlook - Despite short-term price corrections, institutions maintain a positive long-term outlook for the optical communication industry, predicting a shift from "order acquisition" to "delivery assurance" by 2026 [4]. - The report emphasizes that leading companies will stand out due to their supply chain management capabilities, which will become a critical competitive advantage [4]. - The first AI ETF tracking the ChiNext AI index (159363) is highlighted as a key investment vehicle, with over 70% of its portfolio allocated to computing power and more than 20% to AI applications, effectively capturing AI market trends [4].