【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com (责任编辑：宋政 HN002) 格隆汇9月23日｜A股开盘，三大指数集体高开，沪指高开0.04%，深证成指高开0.68%，创业板指高开 1.02%。盘面上，现货黄金首破3750美元/盎司再创新高，西部黄金(601069)、湖南白银涨超2%；CPO概 念高开，剑桥科技、中际旭创(300308)涨近7%，光模块产业链多家上市公司计划扩产；消费电子概念继 续活跃，立讯精密(002475)、盈趣科技(002925)走出2连板，工业富联(601138)涨约6%；旅游及酒店板块 低开，云南旅游(002059)跌停，桂林旅游(000978)跌超7%。(格隆汇) ...

Core Viewpoint - Dongtian Micro's stock has shown significant growth this year, with a year-to-date increase of 100.28% and a recent surge of 34.06% over the past 20 days, indicating strong market interest and performance [1]. Financial Performance - For the first half of 2025, Dongtian Micro reported a revenue of 376 million yuan, representing a year-on-year growth of 42.29%. The net profit attributable to shareholders was 50.68 million yuan, reflecting a substantial increase of 107.35% [2]. - Since its A-share listing, Dongtian Micro has distributed a total of 20 million yuan in dividends [3]. Shareholder and Market Activity - As of August 8, 2025, the number of shareholders for Dongtian Micro decreased by 13.26% to 19,000, while the average circulating shares per person increased by 15.29% to 3,083 shares [2]. - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on August 28 [1]. Company Overview - Dongtian Micro, established on July 24, 2009, and listed on May 24, 2022, specializes in the research, production, and sales of precision optical film components. Its main revenue sources include imaging optical components (66.83%) and communication optical components (28.71%) [1]. - The company operates within the electronic industry, specifically in the optical components sector, and is associated with concepts such as LiDAR, CPO, optical communication, F5G, and data centers [1]. Institutional Holdings - As of June 30, 2025, among the top ten circulating shareholders, Huaxia Industry Prosperity Mixed Fund held 1.4991 million shares, a decrease of 26.45 million shares from the previous period. Additionally, Bosera Value Selection Fund has exited the top ten circulating shareholders list [3].

Core Insights - Changfei Fiber's stock price decreased by 2.05% on September 23, trading at 112.92 CNY per share with a total market capitalization of 85.583 billion CNY [1] - The company has seen a significant stock price increase of 281.20% year-to-date, with a 58.89% rise over the past 20 days [1] Company Overview - Changfei Fiber Optic Cable Co., Ltd. was established on May 31, 1988, and listed on July 20, 2018, focusing on the telecommunications industry, particularly in fiber optic preform, fiber, and cable production [2] - The company's revenue composition includes 64.50% from optical transmission products, 17.35% from optical interconnection components, and 15.85% from other sources [2] Financial Performance - For the first half of 2025, Changfei Fiber reported a revenue of 6.384 billion CNY, representing a year-on-year growth of 19.38%, while net profit attributable to shareholders decreased by 21.71% to 296 million CNY [2] - The company has distributed a total of 2.129 billion CNY in dividends since its A-share listing, with 943 million CNY distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 11.76% to 22,600, with the average circulating shares per person remaining at zero [2] - Notable changes in institutional holdings include Hong Kong Central Clearing Limited increasing its stake to 5.9496 million shares, while new shareholders include China Europe Value Discovery Mixed A [3]

Core Viewpoint - The collaboration between Nvidia and OpenAI, involving a significant investment and the construction of large AI data centers, is expected to drive demand for optical communication modules, indicating a robust growth outlook for the optical module industry. Group 1: Market Performance - On September 23, major market indices showed mixed results, with the communication equipment ETF (159583) rising over 3%, and constituent stocks such as NewEase and Zhongji Xuchuang increasing by more than 5% [3][4]. Group 2: Nvidia and OpenAI Collaboration - Nvidia and OpenAI announced a partnership that includes a plan to build large data centers and Nvidia's investment of up to $100 billion in OpenAI. This news led to Nvidia's stock price rising over 4%, reaching a historical high with a market capitalization nearing $4.5 trillion [5]. - OpenAI will utilize Nvidia's systems to build and deploy at least 10 gigawatts of AI data centers, which is equivalent to the electricity consumption of 8 million American households [5]. Group 3: Optical Module Demand - The rapid development of AI technology is leading to an exponential increase in data processing needs, which traditional electrical connections cannot meet. The demand for high-speed optical modules is expected to surge as data center internal data traffic increases significantly [5]. - Deployment of 400G and above high-speed optical modules is projected to grow by 250% year-on-year in 2024, with further growth expected in 2025, including a 100% increase in 800G module shipments [5]. Group 4: Market Forecast - LightCounting predicts that the global optical module market will grow at a CAGR of 22% from 2024 to 2029, potentially exceeding $37 billion by 2029. The Chinese market is expected to reach approximately 60.6 billion yuan in 2024 and 67 billion yuan in 2025 [5]. - Guosheng Securities highlights that the exponential growth in AI computing demand necessitates faster and more efficient data transmission capabilities, which will drive long-term growth in the optical module industry [7]. Group 5: Investment Opportunities - The communication equipment ETF (159583) is the only ETF tracking the China Securities Communication Equipment Theme Index, with significant holdings in NewEase and Zhongji Xuchuang, which together account for over 10% of the ETF [7][8].

Market Opening Summary - The A-share market opened with all three major indices rising, with the Shanghai Composite Index up by 0.04%, the Shenzhen Component Index up by 0.68%, and the ChiNext Index up by 1.02% [1] Sector Performance - The spot gold price broke through $3750 per ounce, reaching a new high, leading to significant gains in companies like Western Gold and Hunan Silver, both rising over 2% [1] - The CPO concept opened high, with Cambridge Technology and Zhongji Xuchuang both increasing nearly 7%, and multiple listed companies in the optical module industry planning to expand production [1] - The consumer electronics sector remained active, with Luxshare Precision and Yingqu Technology achieving two consecutive trading limit increases, while Industrial Fulian rose approximately 6% [1] - The tourism and hotel sector opened lower, with Yunnan Tourism hitting the daily limit down and Guilin Tourism dropping over 7% [1]

编辑：X 整个华尔街似乎都在屏息以待，CME的那个FedWatch工具，数字已经跳到了92.5%。另一边的芝商所数据也毫不示弱，给出了89%的概率，甚至还有11%的 赌注押在了更激进的50个基点上。市场几乎是在用一种不容置疑的口吻宣告：九月份，那25个基点的降息，稳了。 然而，一边是板上钉钉的预期，另一边却是资产价格的混沌表现。黄金，这个无息资产的代表，自八月下旬以来已经猛冲了6%，一举捅破了在3200至3450 美元区间盘整数月的天花板，如今在3650美元的高位上空盘旋，让人又爱又怕。 视线转回国内，A股市场自九月以来则完全是另一番景象，上证指数在3738到3820点之间来回拉扯，市场情绪从高点回落，成交额也从3.1万亿元的峰值萎缩 到了2.15万亿元。这哪里像是要开席的样子？明明是狂欢前的冷静。 为何一个如此确定的超级利好，却没能带来一场确定性的普涨狂欢？这背后，到底藏着怎样的博弈？ 市场的笃定，当然不是空穴来风，它的基石，是美国经济那份略显疲态的体检报告。这份报告，就是鲍威尔和他的同僚们扣动降息扳机的最大理由。 首当其冲的，是就业市场的"红灯"。就在八月份，被视为经济晴雨表的非农就业岗位仅仅新增了2.2 ...

★ 宏观动态 ★ 中国海军三型舰载机在福建舰成功完成起降训练 据央视新闻，记者22日从海军有关部门获悉，在纪念中国人民抗日战争暨世界反法西斯战争胜利80周年大会上 受阅的歼-15T、歼-35和空警-600三型舰载机，已于此前成功完成在福建舰上的首次弹射起飞和着舰训练。这 是我国航母发展历程中取得的又一次突破，标志着福建舰具备了电磁弹射和回收能力，对推进海军转型建设具 有里程碑意义。 深圳机场自9月23日20时起暂停航班运行 根据台风"桦加沙"影响评估，预计9月23日夜间至24日白天为台风对深圳机场运行影响最强时段。为确保航班 运行和旅客出行安全，深圳机场将于9月23日20时起暂停航班运行，恢复运行时间将根据台风动态和影响情况 而定。 8月中国游戏市场实际销售收入292.63亿元，同比下降13.01% 中国音数协游戏工委发布2025年8月中国游戏产业月度报告，8月中国游戏市场实际销售收入为292.63亿元，虽 然环比增长0.61%，但同比下降了13.01%。这一下滑并非由单一原因造成，而是"用户消费行为转变"与"行业产 品迭代断档"共同作用的结果。核心原因在于去年同期的收入基数被现象级产品《黑神话：悟空》推至高 ...

Core Viewpoint - The A-share market experienced a rebound with all three major indices closing higher, indicating a positive market sentiment despite some sectoral declines [1] Market Performance - The Shanghai Composite Index closed at 3828.58 points, with an increase of 0.22% and a trading volume of 941.8 billion yuan [1] - The Shenzhen Component Index closed at 13157.97 points, rising by 0.67% with a trading volume of 1179.683 billion yuan [1] - The ChiNext Index closed at 3107.89 points, up by 0.55% and a trading volume of 543.771 billion yuan [1] Sector Analysis - Sectors such as tourism, catering, liquor, food and beverage, media, retail, and banking saw declines [1] - The semiconductor sector showed strong performance, while brokerage and automotive sectors experienced significant gains [1] - Consumer electronics and CPO concepts were also active in the market [1]

Market Overview - The three major stock indices experienced narrow fluctuations in the morning, followed by a rebound in the afternoon, with the Sci-Tech 50 Index rising significantly [1] - As of the market close, the Shanghai Composite Index increased by 0.22% to 3828.58 points, the Shenzhen Component Index rose by 0.67% to 13157.97 points, and the ChiNext Index gained 0.55% to 3107.89 points [1] - The Sci-Tech 50 Index saw a notable increase of 3.38%, while the total trading volume in the Shanghai and Shenzhen markets reached 21,427 billion [1] Sector Performance - Sectors such as tourism, catering, liquor, food and beverage, media, retail, and banking experienced declines [1] - The semiconductor sector showed strong performance, while brokerage and automotive sectors also saw gains [1] - Consumer electronics and CPO concepts were active in the market [1] Analyst Insights - According to CITIC Securities, the market remains at a high level without a clear trend of topping or retreating [1] - There is an increasing rotation among previously popular sectors, with the overall index in a phase of horizontal consolidation [1] - Historical reference suggests that the final support level may align with the 60-day moving average, indicating a likelihood of continued sector rotation and declines in high-performing stocks [1] - The recommendation is to maintain a horizontal mindset in the short term, focusing on sector rotation and individual stocks rather than the overall index [1]

Core Viewpoint - The stock market showed slight fluctuations with the Shanghai Composite Index and Shenzhen Component Index experiencing minor gains, while the ChiNext Index saw a slight decline. The market was characterized by strong performances in specific sectors such as AI glasses, consumer electronics, and robotics, while other sectors like hotel and tourism faced declines [1]. Market Performance - The Shanghai Composite Index rose by 0.07% and the Shenzhen Component Index increased by 0.17% at midday, while the ChiNext Index fell by 0.09% [1]. - Notable stocks included Industrial Fulian, which surged over 8%, reaching a historical high [1]. Sector Highlights - The Moer Thread concept saw significant gains, with stocks like Hehe Tai, Lianmei Holdings, Donghua Software, and Chuling Information hitting the daily limit [1]. - AI glasses, consumer electronics, and Apple-related stocks performed strongly, with companies such as Luxshare Precision, Guoguang Electric, and Keri Technology also reaching the daily limit [1]. - The robotics sector experienced a boost, with stocks like Wanma Co., Dayang Electric, and Yokogawa Precision hitting the daily limit [1]. - The CPO concept also rose, with stocks like Demingli and Pengding Co. reaching the daily limit [1]. - The liquid cooling server concept was active, with Haiou Co. and Yingweike hitting the daily limit [1]. - Sectors such as components, communication equipment, semiconductors, and IT equipment showed the highest gains, while hotel and restaurant, tourism, paper, and media entertainment sectors faced the largest declines [1].