Xin Lang Cai Jing·2025-12-12 14:19Core Viewpoint - Changfei Fiber Optics (06869) continues its recent upward trend, with a current increase of 4.24%, trading at HKD 45.74, with a transaction volume of HKD 920 million [1] Company Summary - Changfei Fiber Optics announced a placement of 70 million shares at a discount of approximately 14.93%, with a placement price of HKD 32.26 per share, compared to the closing price of HKD 37.92 on December 9, 2025 [1] - The net proceeds from the placement, after deducting expenses, commissions, and costs, are expected to be approximately HKD 31.85 per share [1] - The company plans to allocate about 80% of the net proceeds for the development of its overseas business and about 20% for general operating funds [1] Industry Summary - Changjiang Securities reported a surge in global AI computing power demand, with strong financial results from cloud service providers and rapid accumulation of cloud orders [1] - Capital expenditures have been adjusted upwards, with significant increases in investment; the delivery of computing power cards is accelerating [1] - The demand for data center interconnects continues to rise, leading to full capacity for optical chip production and a shortage of high-speed optical modules, prompting accelerated expansion [1] - There is an expansion in optical fiber, high-speed cables, and liquid cooling equipment to meet the growing needs of AI and computing power [1]