智通财经APP获悉，港股恒生指数跌1.01%，跌270点，报26439点；恒生科技指数跌1.65%。港股早盘成 交1486亿港元。 兴业证券指出，受益于创新药BD出海和融资企稳回升，多家CRO新签订单逐季度加速，项目量实现双 位数增长。CRO概念股集体走高。行业内外需共振，2026年业绩有望进入改善周期。凯莱英(06821)涨 超7%；泰格医药(03347)涨5.9%；昭衍新药(06127)涨4%。 玖龙等多家大型纸企发布调价信息，机构称中国纸企战略核心已转向。纸业股涨幅居前 ，玖龙纸业 (02689)涨9.94%；理文造纸(02314)涨超6%。 印尼控产令持续提振镍价，中伟新材（02579）涨超15%；力勤资源（02245）涨超8%。 金力永磁(06680)涨超5%，消息称中方正研究收紧对日稀土出口许可审查。 英矽智能(03696)再涨超4%创新高，近日宣布与施维雅达成8.88亿美元合作。 硬蛋创新(00400)再涨超12%，公司近期发布自研新品，布局商业航天前沿赛道。 隔夜美股光通信概念股Lumentum大涨超11%，光通信概念反弹。长飞光纤光缆(06869)涨超7%，剑桥科 技(06166)涨超3%。 ...

Group 1 - Kangfang Biotech (09926) shares rose over 6% after the approval of an important update to the product label for its PD-1/VEGF bispecific antibody, Ivosidenib, which showed significant clinical benefits in treating advanced non-squamous non-small cell lung cancer [1] - Sunac China (01918) shares fell over 6% as the company reported a contract sales amount of 2.95 billion RMB in December, a year-on-year increase of 68.6%, but with a decrease in average sales price per square meter by 14.4% [1] - Nanshan Aluminum International (02610) saw a nearly 14% increase in shares, attributed to a tight global electrolytic aluminum market, with Indonesia being a key marginal supplier [1] Group 2 - Optical communication stocks rebounded, with Longi Fiber Optic (06869) up 7.46% and Cambridge Technology (06166) up 3.86%, following a significant rise in U.S. optical communication stocks [2] - Hengrui Medicine (01276) shares increased over 2.8% after announcing the approval of two innovative drugs for clinical trials targeting prostate cancer [2] - Cao Cao Travel (02643) shares rose over 7% following the announcement of acquisitions of Yao Travel and Geely Business Travel [2] Group 3 - Hutchison China MediTech (00013) shares increased over 5.3% after announcing positive results from a Phase III trial for a new treatment for autoimmune hemolytic anemia [3] - Geekplus Technology (02590) shares rose slightly by 0.51%, with a report highlighting its stable business model and growth potential due to AI applications [3] Group 4 - Xuan Bamboo Biotech (02575) shares surged over 11.6% after its drug, Pyrotinib, was included in the national medical insurance directory, providing new benefits for advanced breast cancer patients [4] Group 5 - Semiconductor equipment and materials stocks continued to rise, with significant gains for companies like Amkor Technology (AMKR.US) and Lam Research (LRCX.US) [5] - Chinese concept stocks mostly rose, with notable increases for Hesai (HSAI.US) and Pinduoduo (PDD.US), amid a bullish market sentiment [5] - Uber (UBER.US) and Lyft (LYFT.US) saw stock price increases following Nvidia's announcement of advancements in autonomous driving technology [5] Group 6 - Data center cooling stocks experienced a decline, with companies like Modine Manufacturing (MOD.US) and Johnson Controls (JCI.US) facing significant drops [6] - Copper stocks strengthened, with Freeport-McMoRan (FCX.US) and Southern Copper (SCCO.US) showing notable gains as copper futures reached a historic high [6] - The storage sector continued its upward trend, with SanDisk (SNDK.US) achieving a 27.56% increase after launching a new SSD product line [6] Group 7 - Alumis (ALMS.US) shares skyrocketed by 95.31% following positive results from clinical trials for its TYK2 inhibitor targeting psoriasis patients [7] - Tesla (TSLA.US) shares fell over 4.14% as BYD surpassed Tesla in electric vehicle sales in key European markets [7] - Zeta Global (ZETA.US) shares rose 9.83% after announcing a strategic partnership with OpenAI to enhance its product capabilities [7]

消息面上，隔夜美股光通信概念股Lumentum大涨超11%，Coherent涨超4%。天风证券认为，随着Scale- up域规模扩大和互联速率提升，Scaleup互联（最终将是Scale-up CPO）的市场规模已大幅超过Scale-out 网络。CPO的市场规模未来可能主要由Scale-up应用主导。该行指，海外算力产业链高景气度依旧，相 关公司财报持续体现AI相关需求的高景气，相关产业链的基本面共振更强，我们持续看好海外算力产 业链投资机会。 智通财经APP获悉，光通信概念反弹，截至发稿，长飞光纤光缆(06869)涨9.6%，报53.75港元；剑桥科 技(06166)涨5.14%，报89.95港元。 此外，方正证券指出，根据光电通信公众号数据显示，G.652.D光纤市场平均价连续两个季度上涨，价 格回暖态势明显。从历史趋势看，光纤光缆市场具有一定的周期性。2025年上半年，我国光缆产量为 1.25亿芯公里，虽同比仍有下降，但降幅已较前期收窄，普缆散纤价格开始反弹，运营商集采价格有望 企稳回升，行业整体景气度有望进入上行通道。 ...

消息面上，隔夜美股光通信概念股Lumentum大涨超11%，Coherent涨超4%。天风证券（601162）认 为，随着Scale-up域规模扩大和互联速率提升，Scaleup互联(最终将是Scale-up CPO)的市场规模已大幅 超过Scale-out网络。CPO的市场规模未来可能主要由Scale-up应用主导。该行指，海外算力产业链高景 气度依旧，相关公司财报持续体现AI相关需求的高景气，相关产业链的基本面共振更强，我们持续看 好海外算力产业链投资机会。 光通信概念反弹，截至发稿，长飞光纤（601869）光缆(06869)涨9.6%，报53.75港元；剑桥科技 （603083）(06166)涨5.14%，报89.95港元。 此外，方正证券指出，根据光电通信公众号数据显示，G.652.D光纤市场平均价连续两个季度上涨，价 格回暖态势明显。从历史趋势看，光纤光缆市场具有一定的周期性。2025年上半年，我国光缆产量为 1.25亿芯公里，虽同比仍有下降，但降幅已较前期收窄，普缆散纤价格开始反弹，运营商集采价格有望 企稳回升，行业整体景气度有望进入上行通道。 ...

Group 1 - The Hang Seng Index rose by 0.20%, gaining 51 points to close at 25,742 points, while the Hang Seng Tech Index increased by 0.89% [1] - China Duty Free Group (01880) surged by 12% as duty-free shopping on Hainan's first day of closure increased by 61% year-on-year [1] - Lithium stocks continued to rise, with Tianqi Lithium (09696) up over 5% due to expectations of resumption of production, and Ganfeng Lithium (01772) increasing by 4.84% [1] - Jiaxin International Resources (03858) rose over 10% to reach a new high, benefiting from a more than 220% increase in tungsten powder prices this year [1] - Spot gold reached a new historical high, with Goldman Sachs reaffirming a bullish outlook on gold, leading to significant gains in gold stocks such as Lingbao Gold (03330) up 6.8% and China Gold International (02099) up 6.2% [1] - The optical communication sector showed strong performance, with Huiju Technology (01729) rising over 13% due to breakthroughs in optical computing chips, and Changfei Optical Fiber (06869) increasing by 11.01% [1] - Chip stocks strengthened in early trading, with the National Integrated Circuit Investment Fund's third phase focusing on IC substrate fields, leading to a rise of over 7% for SMIC (00981) and 5% for Hua Hong Semiconductor (01347) [1] - Pony.ai-W (02026) increased by over 9%, achieving single-vehicle profitability in Guangzhou, with two models of its seventh-generation vehicle now in production [1] Group 2 - Guoxia Technology (02655) surged over 16% as the company enters a new phase of global development, focusing on deepening "AI+" core technology research in energy storage [2] - WanGuo Gold Group (03939) rose nearly 7%, with its subsidiary Jinling Mining expected to become a world-class gold mine [3] - Goldwind Technology (02208) increased by nearly 5% as domestic wind turbine bidding prices recovered, with institutions optimistic about the profitability recovery of wind turbine manufacturers [4] - Four new stocks listed all fell below their issue prices, with Impression Dahongpao (02695) dropping 25%, Mingji Hospital (02581) down 42%, and Huazhi Biotechnology-B (02396) declining over 8% [4]

Group 1: Stock Market Performance - The Hang Seng Index rose by 0.20%, gaining 51 points to close at 25,742 points, while the Hang Seng Tech Index increased by 0.89% [1] - The Hong Kong stock market saw a trading volume of HKD 95.5 billion in the morning session [1] Group 2: Company Highlights - China Duty Free Group (01880) surged by 12% as duty-free shopping on the first day of Hainan's closure increased by 61% year-on-year [1] - Tianqi Lithium (09696) rose over 5% due to expectations of resumption of production following environmental assessment information disclosure [1] - Ganfeng Lithium (01772) increased by 4.84% [1] - Jiaxin International Resources (03858) climbed over 10%, reaching a new high, benefiting from a more than 220% increase in tungsten powder prices this year [1] - Gold stocks performed well, with Lingbao Gold (03330) rising by 6.8% and China Gold International (02099) increasing by 6.2% as spot gold reached a historical high [1] - Huizhu Technology (01729) surged over 13% due to breakthroughs in optical computing chip technology [1] - Zhongke Semiconductor (00981) rose over 7% as the National Integrated Circuit Investment Fund's third phase focuses on IC substrate [1] - Pony.ai-W (02026) increased by over 9%, achieving single-vehicle profitability in Guangzhou with two models of its seventh-generation vehicle in production [1] - Guoxia Technology (02655) surged over 16% as the company enters a new phase of global development, focusing on "AI+" energy storage core technology [2] - WanGuo Gold Group (03939) rose nearly 7% as its subsidiary Jinling Mining is expected to become a world-class gold mine [3] - Goldwind Technology (02208) increased nearly 5% as domestic wind turbine bidding prices recover, with institutions optimistic about the profitability of wind turbine manufacturers [4] Group 3: IPO Performance - Four new stocks listed all experienced declines, with Impression Dahongpao (02695) dropping by 25%, Mingji Hospital (02581) falling by 42%, and Huazhi Biotechnology-B (02396) decreasing by over 8% [4]

Core Viewpoint - The optical communication sector is experiencing strong performance, driven by advancements in optical computing technology and increasing demand for AI computing power [1] Group 1: Market Performance - Huiju Technology (01729) shares rose by 13.44%, reaching HKD 18.29 [1] - Changfei Optical Fiber (601869) shares increased by 11.01%, reaching HKD 57.45 [1] - Cambridge Technology (603083) shares grew by 4.99%, reaching HKD 85.2 [1] - Huahong Semiconductor (01347) shares rose by 3.54%, reaching HKD 70.15 [1] Group 2: Technological Advancements - Researchers from Shanghai Jiao Tong University achieved a breakthrough in optical computing, developing the LightGen chip that supports large-scale semantic media generation models [1] - The LightGen chip demonstrated a two-order-of-magnitude improvement in computing power and energy efficiency compared to top digital chips, even with less advanced input devices [1] Group 3: Industry Outlook - Zhongyuan Securities noted that China's optical communication industry is transitioning from low-end to high-end, indicating long-term growth potential [1] - The research and expansion cycle for optical chips is lengthy with high barriers, prompting domestic and international manufacturers to accelerate capacity expansion and process upgrades [1] - Guotou Securities reported that the ongoing demand for AI computing power is sustaining the upward trend in the optical module industry, creating opportunities across the industry chain [1]

智通财经APP获悉，光通信概念走势强劲，截至发稿，汇聚科技(01729)涨13.44%，报18.29港元；长飞 光纤光缆(06869)涨11.01%，报57.45港元；剑桥科技(06166)涨4.99%，报85.2港元；华虹半导体(01347) 涨3.54%，报70.15港元。 中原证券此前指，我国光通信产业链和价值链逐渐由低端向高端过渡，具备长期的景气度。光芯片研发 和扩产周期长、壁垒高，国内外光芯片厂商加速产能扩充与工艺升级。国投证券研报表示，AI算力需 求持续扩张，光模块产业景气度延续上行，并为产业链各环节带来机遇。 消息面上，据新华社消息，上海交通大学科研人员近日在新一代光计算芯片领域取得突破，首次实现了 支持大规模语义媒体生成模型的全光计算芯片。课题组提出并实现了全光大规模语义生成芯片 LightGen，采用极严格算力评价标准的实测表明：即便采用性能较滞后的输入设备，LightGen仍可取得 相比顶尖数字芯片2个数量级的算力和能效提升。 ...

Market Overview - The Shanghai Composite Index rose by 0.36% to close at 3890.45 points, while the Shenzhen Component Index increased by 0.66% to 13140.21 points. The ChiNext Index gained 0.49% to 3122.24 points, and the STAR 50 Index rose by 0.2% to 1308.59 points. The total trading volume in the Shanghai and Shenzhen markets reached 17,259.15 billion yuan, with nearly 4500 stocks rising across the market [1]. Sector Performance - The Hainan Free Trade Zone concept stocks saw significant gains, with Hainan Haiyao and Hainan Ruize hitting the daily limit, and other stocks like Hainan Mining and Hainan High-speed also experiencing notable increases [1]. - The dairy sector continued to strengthen, with stocks like Huanlejia reaching a 20% limit up and other companies such as Yuantong Dairy and Qishi Dairy also rising [1]. - The Fujian sector rebounded, with Sanmu Group hitting the daily limit and several other stocks like Xinhua Dou and Dongbai Group also performing well [1]. Industry Insights - The optical communication sector showed strong performance, with companies like LIGONG Optical Technology hitting the daily limit. Major fiber optic manufacturers reported a 15% price increase for bulk fiber, indicating positive signals for the industry [2]. - According to Guosheng Securities, the overseas special optical fiber market is entering a high-growth phase driven by breakthroughs in AI computing power and application scenarios [2]. Investment Recommendations - CITIC Securities is optimistic about investment opportunities in the semiconductor equipment industry, predicting a steady growth in the global wafer fabrication equipment market in 2025 and 2026, driven by demand from major clients like Intel [3]. - CICC forecasts that coal prices will exhibit a low-to-high trend in 2026, with demand being a primary drag but supply constraints remaining strong [4]. - Huatai Securities emphasizes the importance of optimizing public fund performance assessments, suggesting a focus on high-quality financial stocks as the capital market trends upward [5].

| 通鼎互联 < > જ | | --- | | 002491 深股通 ▼ | | 今开 6.35 最高 7.16 7.16 最低 6.26 | | 998% 0.65 换手 23.15% 息手 272万 金额 18.38亿 | | 总值 88.07亿 流值 84.24亿 市盈 -100.89 更多 | 日K 月 K 分时 五日 周Ｋ 更多,◎ 7.49 15.05% 7.00 7.53% 6.51 0.00% 6.02 -7.53% 午后，光通信概念震荡走强。理工光科（300557）"20cm"涨停，此前通鼎互联3天2板，长飞光纤、烽火通信、亨通光电等跟涨。 | 理工光科 | | | | | | | --- | --- | --- | --- | --- | --- | | 300557 L1 - | | | | | | | 39.34 → | | | | | | | 32.30 最高 | 39.34 最低 | 32.07 | | | | | 20.01% 6.56 换手ご16.65% 总手 19.87万 金额 | 7.23亿 | | | | | | 总值 47.55亿 流值 46.93亿 市盈和0 90. ...