“易中天”，业绩大爆发！需求增长是核心动力！

Core Viewpoint - The article highlights the significant growth in the performance forecasts of several companies in the optical module industry, driven primarily by increasing demand for AI and computing infrastructure [1][2]. Group 1: Company Performance Forecasts - Zhongji Xuchuang expects a net profit attributable to shareholders of 9.8 billion to 11.8 billion yuan for 2025, representing a year-on-year growth of 89.50% to 128.17% [1]. - Xinyi Sheng anticipates a net profit of 9.4 billion to 9.9 billion yuan for 2025, with a year-on-year increase of 231.24% to 248.86% [1]. - Tianfu Communication forecasts a net profit of 1.881 billion to 2.15 billion yuan for 2025, reflecting a growth of 40.00% to 60.00% [1]. Group 2: Reasons for Performance Growth - Zhongji Xuchuang attributes its growth to strong investments in computing infrastructure by end customers, leading to increased product shipments and improved operational efficiency [2]. - Xinyi Sheng cites sustained growth in computing investments and a rapid increase in demand for high-speed products as key factors for its performance [2]. - Tianfu Communication's growth is linked to the accelerated development of the AI industry and the ongoing construction of global data centers, which has driven stable demand for high-speed optical devices [2]. Group 3: Market Trends and Future Outlook - Huaxi Securities notes that the AI inference sector is experiencing unexpected demand growth, which may lead to a systematic upward revision of profits due to a reassessment of market scale and capacity configuration [3]. - The overseas computing industry is forming a positive feedback loop characterized by technological iteration, application promotion, and explosive demand for AI inference, which is expected to sustain high capital expenditures in AI [3]. - The Chinese government is actively promoting AI applications, which is likely to continue driving domestic demand for AI computing power [4][5].