Core Viewpoint - The company, Tengjing Technology, has reported a strong demand in the industry, leading to sufficient production order scheduling and an acceleration in capacity expansion to enhance delivery capabilities [1] Group 1: Industry Demand - North American manufacturers are rapidly placing orders with domestic optical component manufacturers, indicating a robust demand in the market [1] - The company has acknowledged the current industry demand as being strong, which is driving its operational strategies [1] Group 2: Company Operations - Tengjing Technology has confirmed that it is experiencing a full schedule of production orders, which reflects its ability to meet the heightened demand [1] - The company is actively accelerating its expansion efforts to improve its delivery capabilities in response to the increased orders [1]

Group 1 - The A-share CPO concept continues to weaken, with significant declines observed in various companies [1] - Changxin Bochuang experienced a drop of over 10% [1] - TeFa Information hit the daily limit down [1] Group 2 - Guangku Technology, Jieput, Tengjing Technology, Taicheng Light, and Tianfu Communication all fell by over 5% [1]

午后CPO概念持续走弱，长芯博创跌超10%，特发信息回封跌停，光库科技、杰普特、腾景科技、太辰 光、天孚通信均跌超5%。 ...

Core Viewpoint - The booming downstream application market for diffraction gratings in China provides a broad stage for domestic manufacturers, with the market size expected to reach approximately 174 million yuan in 2024, reflecting a year-on-year growth of 5.45% driven by the demand from telecommunications and emerging technologies [1][8]. Industry Overview - Diffraction gratings are optical components based on the principles of diffraction and interference, used to spatially modulate the amplitude or phase of incident light, separating polychromatic light into ordered spectra. They are mainly categorized into transmission gratings and reflection gratings [2]. Industry Chain - The upstream of the diffraction grating industry includes raw materials such as optical glass, microcrystalline glass, photoresists, and coating materials, as well as production equipment like ultra-precision engravers and laser interference systems. The midstream involves the manufacturing of diffraction gratings, while the downstream applications span spectrometers, monochromators, lasers, astronomical telescopes, optical communications, precision measurements, LiDAR, quantum technology, biomedical imaging, AR/VR, and consumer electronics [4]. Market Size - The Chinese diffraction grating industry is projected to reach approximately 174 million yuan in 2024, with a year-on-year growth of 5.45%. The demand for diffraction gratings is rapidly increasing in the telecommunications sector due to the data surge driven by 5G and fiber optic communications, as well as in traditional markets like spectrometers and emerging fields such as LiDAR and quantum technology [1][8]. Key Companies - The competitive landscape of the Chinese diffraction grating industry is characterized by "technology differentiation and application focus." Leading companies like Anhui Zhongke Grating leverage their technical background to dominate high-end research and military applications. Tengjing Technology excels in precision processing of optical components, while Beijing Zhige Technology specializes in AR/VR waveguide diffraction gratings [9]. Industry Development Trends 1. **Independence and High-end Technology**: The trend towards domestic substitution in high-end diffraction gratings is gaining momentum, with significant advancements made by research institutions and leading companies in overcoming foreign dependencies [12]. 2. **Diversification of Application Scenarios**: Future diffraction gratings are evolving into miniaturized, modular, and intelligent "photon control platforms," expanding their applications into quantum technology, autonomous driving LiDAR, and biomedical imaging [13]. 3. **Cost-effective Manufacturing Processes**: The shift towards scalable and low-cost manufacturing techniques, such as nanoimprinting, is expected to drive explosive growth in the consumer-grade application market, particularly in AR/VR [14].

Core Viewpoint - The company is strategically positioning itself to capitalize on the rapid development of AI computing power by advancing its optical communication business through various technologies such as high-speed optical modules, CPO, and OCS [1] Group 1: Business Strategy - The company is focusing on two main application areas: OCS optical switches and high-speed optical modules, while also developing its own CPO optical connector products [1] - In the OCS sector, the company aims to increase production capacity of large-size pure YVO4 yttrium vanadate crystals to ensure timely delivery and mass production of key products like two-dimensional collimator arrays [1] - The company is steadily advancing the research, validation, and market introduction of other supporting precision optical components [1] Group 2: Market Positioning - In the high-speed optical module sector, the company plans to accelerate the expansion of production capacity for precision optical components that are compatible with 800G and 1.6T high-speed optical module products [1] - The company is committed to continuously enhancing product competitiveness and market share to align with industry evolution [1]

证券日报网2月12日讯 ，腾景科技在接受调研者提问时表示，公司根据国内外主要OCS整机厂商的技术 方案，可以提供包含二维准直器阵列、大尺寸纯YVO4钒酸钇晶体在内的多款精密光学元组件产品。产 品价值量基于产品种类、规格参数、性能指标及良品率的差异而有所不同。公司相关产品主要配套国内 外主要的OCS整机厂商。大尺寸纯YVO4钒酸钇晶体、二维准直器阵列已取得客户重要订单，相关信息 请关注公司先前公告的内容。其中，大尺寸纯YVO4钒酸钇晶体已开始量产，公司正加速推进产能扩 充，以支持产品的交付。 （文章来源：证券日报） ...

证券日报网2月12日讯 ，腾景科技在接受调研者提问时表示，公司在OCS全光交换机光学元组件领域的 竞争优势主要体现在深厚的技术积淀与稳固的客户基础两个维度。技术积累层面，OCS光交换技术对光 学元组件的精度、稳定性及可靠性有着极高的要求，公司的产品能够满足AI算力集群对核心光交换部 件的高可靠性严苛标准，构筑了较强的技术护城河。另外，在客户合作层面，公司较早地参与主要整机 厂商的前期研发项目，具备供应链先发优势。 （文章来源：证券日报） ...

证券日报网2月12日讯 ，腾景科技在接受调研者提问时表示，公司的二维准直器阵列根据客户需求适配 MEMS、液晶等不同技术方案的OCS光交换机产品，同时支持不同端口数量规格的定制，并可向更高的 端口数量规格扩展。公司的二维准直器阵列产品包含自研透镜阵列和自研光纤阵列，技术方案根据客户 需求定制。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 2月12日，腾景科技在互动平台回答投资者提问时表示，公司紧跟光交换+光互连（高速 光模块、CPO、OCS）等技术发展趋势，已前瞻布局适配各类技术路线的精密光学元组件产品，满足行 业多元化需求。 ...

Core Viewpoint - Tengjing Technology has demonstrated its capabilities in high-density connectivity, low-loss coupling, and high-precision alignment, indicating a strong focus on advanced optical connection technologies [1] Group 1 - The company is currently developing and validating its self-developed CPO (Co-Packaged Optics) optical connector products [1]