智通财经网·2026-02-15 01:33Core Viewpoint - The report from CITIC Securities indicates a sustained increase in fiber optic prices in the Chinese market since Q3 2025, reflecting strong demand and tight supply conditions. The global demand for fiber optic cables is robust, driven by overseas demand and AI-related applications, leading to a recommendation for continued investment in the fiber optic sector [1]. Group 1: Price Trends and Demand - Since Q3 2025, the price of domestic G652D fiber has consistently increased, reaching 31.5 yuan per core kilometer in January 2026, a 79% increase from November 2025, indicating a favorable industry demand and tight supply [1]. - In 2025, China's optical fiber exports increased by 47.1% in volume and 65.4% in value, while optical preform exports rose by 89.5% in volume and 81.7% in value, reflecting strong global demand for fiber optic cables [1]. Group 2: Future Demand Projections - The demand for fiber optics is expected to grow rapidly due to AI and other factors, with significant increases in global optical module demand anticipated in 2026, which will correspondingly boost fiber demand [2]. - By around 2027, the demand for fiber optics is projected to scale up significantly, with Corning estimating that this demand could be 2-3 times that of existing enterprise network business [2]. Group 3: Supply Dynamics - The North American market is experiencing a supply gap, with fiber demand growth outpacing supply growth, leading to potential shortages as AI continues to drive demand [3]. - The supply-demand balance in the U.S. market is projected to show deficits of 0.28 million core kilometers in 2023, 0.24 million in 2024, and 0.24 million in 2025, indicating a tightening market [3]. - Major suppliers in North America, such as Corning and Prysmian, are operating at high capacity utilization rates and are expanding slowly, which may create significant export opportunities for leading domestic fiber optic companies [3].