Zhi Tong Cai Jing·2026-01-30 02:12Core Viewpoint - Changfei Fiber Optics (601869) and its subsidiary Changfei Cable (06869) have seen their stock prices rise over 10%, reaching a historical high of 87 HKD, driven by increasing fiber optic prices and strong demand from overseas data centers [1] Group 1: Market Trends - The average price of G.652.D fiber optics has increased for two consecutive quarters, indicating a clear price recovery trend [1] - Several companies have reported rising export prices for fiber optics due to increased demand from overseas data centers [1] - It is anticipated that domestic fiber optic prices will experience a significant increase by 2026 [1] Group 2: Company Positioning - First Shanghai's recent report highlights that the company is a leader in the global fiber optic and cable industry, consistently holding the largest market share in fiber preform, fiber optics, and cables [1] - The company utilizes three main preform manufacturing processes: PCVD, VAD, and OVD, achieving the highest integration level and strong cost control capabilities [1] Group 3: Future Outlook - Although the company's performance is expected to be under pressure in the first half of 2025, the downward trend in the telecom market for fiber optics and cables is nearing its end [1] - The company is poised to benefit from a domestic market recovery, overseas expansion, and increased demand driven by AI computing [1]