Xin Lang Cai Jing·2025-12-24 03:21Core Viewpoint - The report from Kaiyuan Securities indicates that the demand for optical fibers and cables is expected to increase due to the ongoing iteration of AI large model training and the accelerated application of AI in inference, which will drive global demand for optical fibers and cables [1] Group 1: Demand Drivers - The massive data flow demand within data centers, along with the collaboration of high-end single-mode and multi-mode fibers and ultra-high-speed optical modules, is likely to enable efficient short-distance data transmission and flexible interconnection, pushing intelligent computing centers towards higher density and lower power consumption [1] - The development of new technologies such as hollow-core fibers, which offer advantages like low latency, broad bandwidth, low loss, and low nonlinearity, is being actively promoted both domestically and internationally, suggesting a gradual increase in demand for hollow-core fibers in the long term [1] Group 2: Market Outlook - In the short term, there may be a supply-demand imbalance, with limited capacity for global manufacturers to expand production, potentially leading to a situation of supply shortage [1] - The demand and prices for optical fibers and cables are expected to maintain a steady upward trend, driven by the robust growth of AI and the resulting needs for interconnection within data centers and DCI [1] Group 3: Recommended Stocks - Recommended stocks include Hengtong Optic-Electric and Zhongtian Technology, while beneficiaries include Yangtze Optical Fibre and Cable, Yongding Co., Fenghuo Communication, and TeFa Information [1]