第一大股东“清仓”，680亿巨头却大涨3倍

Core Viewpoint - Draka Comteq B.V., a former major shareholder of Yangtze Optical Fibre and Cable Joint Stock Limited Company, has completely divested its holdings, yet the company's stock prices have shown significant increases during this period [2][6]. Group 1: Shareholder Activity - On September 19, 2025, Draka Comteq B.V. sold 37.5953 million H-shares, reducing its stake from 5.00% to 0.00% [6]. - Prior to this divestment, Draka Comteq B.V. held 180 million shares, equating to a 23.73% stake, which it shared with China Huaxin Post and Telecommunications [6]. - The stock price of Yangtze Optical Fibre increased by 259.2% for A-shares and 297.42% for H-shares during the divestment period from early Q2 2025 to the present [6]. Group 2: Stock Performance - As of September 19, 2025, the A-share price was 120.62 CNY per share, and the H-share price was 61.6 HKD per share, with a total market capitalization of 68.8 billion CNY [3]. - The stock price performance indicates strong market confidence despite the significant shareholder exit [2][6]. Group 3: Industry Insights - There is growing market interest in hollow-core fiber products, which are seen as having the potential to overcome limitations of solid-core fiber in next-generation T-bit transmission [8][9]. - Yangtze Optical Fibre has developed proprietary technology for its hollow-core fiber, which is recognized for its superior performance [8]. - Currently, the market for hollow-core fiber is still in its early stages, with limited sales and pricing stability, and it has not yet significantly impacted the company's financials [8]. Group 4: Future Developments - Microsoft plans to deploy 15,000 kilometers of hollow-core fiber for data centers and AI model connections within the next 24 months [10]. - China Mobile has initiated commercial use of hollow-core fiber, with Yangtze Optical Fibre being the sole bidder at approximately 36,000 CNY per core kilometer [10].