21世纪经济报道·2025-10-12 13:37Core Insights - The global demand for computing power is expected to increase dramatically, with a forecasted growth of 100,000 times by 2035, leading to a 500-fold increase in AI storage needs [4][5] - Chinese manufacturers have established a leading position in the global midstream market for optical modules, driven by advancements in technology and production capacity [5][9] Industry Overview - The transition from mobile internet to the Internet of Intelligent Things will expand the number of connected devices from 9 billion to 900 billion by 2035, significantly impacting social life and productivity [4] - The AI computing market is projected to reach $1.2 trillion by 2025, with China accounting for 38% of this market, primarily driven by sectors such as smart driving, industrial AI, and medical imaging [5] Company Performance - Zhongji Xuchuang (中际旭创) reported a revenue of 14.789 billion yuan in the first half of 2025, a year-on-year increase of 36.95%, with a net profit of 3.995 billion yuan, up 69.4% [6] - New Yisheng (新易盛) experienced explosive growth, with a revenue of 10.437 billion yuan, a 282.64% increase year-on-year, and a net profit of 3.942 billion yuan, up 355.68% [8] - Tianfu Communication (天孚通信) achieved a revenue of 2.456 billion yuan, a 57.8% increase year-on-year, benefiting from its unique position as a supplier for NVIDIA's CPO optical engine [8] Technological Advancements - The optical module technology is rapidly evolving, with a focus on rate iteration, material innovation, and packaging breakthroughs [11] - The transition from 800G to 1.6T optical modules is becoming a mainstream trend, with significant commercial advancements expected in the near future [11][12] - Innovations such as CPO (Co-Packaged Optics) and LPO (Linear Drive) are set to reduce power consumption significantly while enhancing bandwidth density [12][13] Competitive Landscape - Chinese companies like Zhongji Xuchuang and New Yisheng are among the top three global players in the optical module market, showcasing strong technical capabilities and financial resilience [9]