通信ETF（515880）年内涨超128%居全市场第一，光模块占比近50%，规模同类第一

Core Viewpoint - The communication ETF (515880) has achieved a remarkable annual growth of over 128%, ranking first in the market, primarily driven by the strong demand for optical modules, which account for nearly 50% of its composition [1] Group 1: Market Performance - The communication ETF (515880) is the largest in its category, with a scale of 14.517 billion yuan as of December 29, 2025, leading among 15 similar products [1] - As of December 15, 2025, the optical module content in the ETF exceeds 48%, while server content is over 20%, indicating a strong foundational support for overseas computing power [1] Group 2: Industry Demand - The demand for optical modules continues to grow significantly, driven by the robust need for Ethernet switches and high-speed optical modules in AI infrastructure development [1] - The application of optical interconnect technology in AI scale-up networks is expected to further promote market growth [1] Group 3: Competitive Landscape - Chinese manufacturers dominate the global optical module market, holding 7 out of the top 10 positions in the 2024 rankings [1] - The increasing demand for high-speed optical modules is anticipated to enhance the industry's profitability [1]