中国基金报·2025-09-25 12:36Core Viewpoint - The "Shenzhen Stock Exchange · Innovation Forum" held on September 23 focused on the photon industry, highlighting its significance as a strategic emerging industry in China that drives high-quality economic development and industrial transformation [1]. Group 1: Photon Industry Overview - The photon industry is a key area for strategic development in China, with a focus on light communication and related technologies [1]. - Shaanxi Province initiated the "Chasing Light Plan" in 2021, establishing a comprehensive industrial cluster for the photon industry [1]. Group 2: Technological Advancements - The demand for high-end optical modules, such as 800G and 1.6T, is rapidly increasing, with leading companies achieving breakthroughs in 3.2T technology [3]. - Zhongji Xuchuang has seen a 160-fold increase in product performance over 16 years, with 1.6T products now being shipped [3][4]. - The evolution of information systems has transitioned through three eras: PC, cloud computing, and now AI, with AI requiring significantly more computational power [3]. Group 3: Market Dynamics - The growth of AI is expected to drive substantial demand for optical chips and modules in data centers, with a projected compound annual growth rate in hardware investment over the next 3-5 years [6]. - The integration of the photon industry with the semiconductor sector is gradually increasing, although domestic integration is still in its early stages [6]. Group 4: Mergers and Acquisitions - Robotech's acquisition of ficonTEC, a leader in photonic and semiconductor automation, was a strategic move to enhance its capabilities in high-end semiconductor and photonic chip equipment [8][10]. - The acquisition process involved a two-step strategy, overcoming significant challenges, including regulatory scrutiny and operational restructuring [9][10]. - The merger is expected to leverage Robotech's experience in non-standard equipment management to meet the growing demands of the photonic industry [10].