MTC(SZ:002429) Feng Huang Wang·2026-01-20 08:00Core Viewpoint - The company, Zhao Chi Co., has identified its optical communication business as a third growth curve, with significant advancements in product technology iteration [2] Group 1: Optical Communication Business - The company has achieved stable mass production of low-speed optical modules (200G and below), supported by mature production processes and cost control capabilities, laying a solid foundation for business development [2] - The company is focusing on high-speed optical modules (400G/800G) as a key breakthrough direction, which has successfully entered the sample testing phase with leading domestic customers, and is expected to achieve small batch shipments by the second quarter of 2026 [2] - The company is enhancing supply chain autonomy through vertical integration of "optical chips - optical devices - optical modules" and has initiated the construction of a PCB production line [2] Group 2: Market Expansion and Collaborations - The company has established partnerships with several mainstream domestic customers and is steadily expanding into overseas markets based on existing terminal cooperation [2] - The company's subsidiary, Fengxing Online, has shown strong performance in the AI digital entertainment sector and has formed a deep collaboration with Alibaba Cloud to build a full-link creative ecosystem [2] - The smart terminal business is undergoing a global upgrade strategy, focusing on local supply capabilities [2]