Core Viewpoint - The company has developed a patented hollow-core optical fiber that offers significant advantages over solid-core fibers, including ultra-low latency, low loss, wide bandwidth support, and resistance to electromagnetic interference [1] Group 1: Product Innovation - The hollow-core optical fiber uses air as the transmission medium, fundamentally avoiding material dispersion and nonlinear loss issues [1] - The company's self-developed four-tube nested hollow-core fiber optimizes the nested structure design, balancing high mechanical strength and bending resistance to adapt to complex deployment environments [1] Group 2: Market Position - The hollow-core optical fiber is currently in the pilot verification and small-scale commercial use stage, with the company actively promoting customer-side projects [1]

Core Insights - The article discusses advancements in hollow core fiber technology, which significantly enhances data transmission speed and reduces signal loss, addressing the increasing bandwidth demands of AI data centers [2][3]. Group 1: Technology Advancements - Researchers in the UK have developed a new type of hollow core fiber cable that can increase bandwidth by three times compared to standard fiber and improve transmission speed by 45%, extending the transmission distance to 33 kilometers [2]. - The new design, named Double Nested Anti-Resonant Nodeless Hollow Core Fiber (DNANF), utilizes a double layer of glass tubes to minimize signal loss and enhance speed, achieving a signal loss far below the best pure glass standards at 0.14 dB [2][3]. Group 2: Deployment Challenges - Despite the promising advancements, the existing infrastructure of over 50 billion kilometers of traditional fiber optics presents a significant challenge for the adoption of this new technology, which requires a new ecosystem including connectors and amplifiers [4]. - Microsoft is collaborating with partners to develop the necessary ecosystem and has already deployed early versions of DNANF between two Azure data centers in Europe, demonstrating the technology's commercial viability with 1,280 kilometers of hollow core fiber already in use [4]. Group 3: Competitive Landscape - Companies like YOFC and Linfiber Technology from China are also reporting similar performance achievements in hollow core fiber technology, indicating a competitive market landscape [4].

Core Insights - The global hollow-core fiber market is projected to grow significantly, with the overall fiber market expected to reach $8.22 billion in 2024, while China's hollow-core fiber market is currently valued at $0.07 billion, indicating substantial growth potential [1][4] - Europe dominates the hollow-core fiber market, holding a 45% share in 2023, supported by leading research institutions and a robust optoelectronic industry chain [1][4] - Major companies are accelerating their investments in hollow-core fiber technology, with Microsoft planning to deploy 15,000 kilometers of hollow-core fiber in the next 24 months to enhance data transmission capabilities [2][4] Industry Performance - The electronic sector experienced an overall decline, with the SW electronic industry index dropping by 4.57% during the week of September 1-5, 2025, ranking 28th out of 31 sectors [1] - The top-performing sectors included power equipment (+7.39%) and comprehensive industries (+5.38%), while the electronic sector was among the worst performers [1] Technological Advancements - Hollow-core fiber technology offers significant advantages over traditional solid-core fibers, including a 31.8% reduction in delay and enhanced power handling capabilities, leading to lower energy consumption and operational costs for data centers [3][4] - Recent advancements include a new hollow-core fiber technology published by Microsoft Azure and the University of Southampton, demonstrating superior bandwidth and loss characteristics compared to traditional microstructured waveguides [2][3] Investment Recommendations - Hollow-core fiber is expected to benefit from long-term investments in data center infrastructure, with a recommendation to focus on key suppliers like Yangtze Optical Fibre and Cable [5] - Yangtze Optical Fibre has achieved significant milestones in hollow-core fiber technology, including the world's first 800G hollow-core fiber experimental network in collaboration with China Mobile [5]

Group 1 - The company has a leading advantage in the cable-making process of hollow-core optical fibers, which are characterized by their relatively fragile structure that requires research in cable-making technology and systematic performance testing of optical cables [2] - The related products of hollow-core optical fibers are currently being advanced by the company [2] - Future applications of hollow-core optical fibers include interconnection between data centers, high-frequency financial trading, and telemedicine [2]

Group 1 - The company has a leading advantage in the cable-making process of hollow-core optical fibers, which require systematic performance testing due to their fragile structure [1] - Hollow-core optical fibers are being advanced for applications in data center interconnections, high-frequency financial trading, and telemedicine [1] - The company has addressed technical bottlenecks in the cable-making of hollow-core optical fibers and has collaborated with partners to assist operators in launching the world's first 800G hollow-core optical fiber transmission technology trial network [3] Group 2 - The company is exploring future development opportunities for hollow-core optical fiber cables and is inquiring about new orders and potential breakthroughs in overseas markets [3]

Core Viewpoint - China Mobile has launched the country's first commercial line of anti-resonant hollow-core optical fiber in Guangdong, marking a significant advancement in independent research and development with complete intellectual property rights [1] Group 1: Technological Breakthrough - The launch represents a transition from technical prototype to practical application of anti-resonant hollow-core optical fiber [1] - This technology establishes a super low-latency "information expressway" for cross-border financial services between Shenzhen and Hong Kong, setting a benchmark for efficiency in cross-border business processing [1] Group 2: Industry Contributions - China Mobile has produced key outcomes during this process, including 2 CCSA research reports, 1 enterprise standard, nearly 20 patents, and 11 high-quality papers [1]