| 处罚决定书文号 | ( 鲁零高 ) 应急罚 〔 2025 〕 6 号 | | --- | --- | | 处罚决定日期 | 2025-09-25 | | 外留类别 | 罚款 | | 处罚结果 | 罚款玖仟元(¥9000)整 | | 声評 | 1.生产经营单位使用未取得特种作业操作证的特种作业人员上岗作业的 | | 外罚依据 | 《劳种作业人员安全技术培训考核管理规定》第三十九条第一款："生产经营单位使用未取得劳神作业操作证的特种作业人员上岗作业的，责令限 期未改正的，麦令停产停业整顿，并处5万元以上10万元以下的罚款，对直接负责的主管人员和宾他直接责任人员处1万元以上2万元以下的罚款。 | | | 由裁量基准》（裁量细则）第100号第A档 | | 处罚机关 | 枣庄高新区应急管理局 | | 处罚机关统一社会信用代码 | 11370400004236563X | 处罚决定书内容显示，特发光源公司的违法事实为：生产经营单位使用未取得特种作业操作证的特种作业人员上岗作业的。对此，枣庄市高新区应急管理局 依据《特种作业人员安全技术培训考核管理规定》第三十九条第一款，结合《山东省应急管理行政处罚自由裁量基准》（裁量 ...

Core Viewpoint - The article discusses the approval of two companies, Beijing Angrui Microelectronics Technology Co., Ltd. and Xiamen Youxun Chip Co., Ltd., for their IPO applications on the Sci-Tech Innovation Board, indicating a positive trend in the IPO market [1][2]. Summary by Sections Company Overview - Angrui Micro is focused on integrated circuit design in the RF and analog fields, recognized as a national-level "little giant" enterprise. The company specializes in RF front-end chips, RF SoC chips, and other analog chips, with a strong emphasis on R&D and product iteration [8]. - Youxun Chip is a national champion in the optical communication sector, concentrating on the development and sales of optical communication front-end transceiver chips, which are crucial for the performance of optical communication systems [12]. Financial Performance - Angrui Micro's revenue from 2022 to the first half of 2025 is reported as follows: 0.923 billion, 1.695 billion, 2.1 billion, and 0.844 billion respectively, with net losses of -0.29 billion, -0.45 billion, -0.0647 billion, and -0.0403 billion, indicating that the company has not yet achieved profitability [8]. - Youxun Chip's revenue for the same period is: 0.339 billion, 0.313 billion, 0.411 billion, and 0.238 billion, with net profits of 0.081 billion, 0.072 billion, 0.079 billion, and 0.047 billion, showing a relatively stable performance [12]. IPO Process - Angrui Micro's IPO application was accepted on March 28, 2025, and after two rounds of inquiries, it was approved on October 15, 2025. The listing committee raised questions regarding the company's growth potential and sales increase justification [7][8]. - Youxun Chip's IPO application was accepted on June 26, 2025, and after being deferred on September 19, 2025, it was approved in a second meeting just four months later. The committee's inquiries focused on the sustainability of profit margins and the stability of control by the actual controller [11][12].

以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 行业定义 光模块（ Optical Transceiver Module，简称Optical Module）是一种利用光信号实现高速数据传 输的光电器件。它通过电信号与光信号的相互转换，结合光纤传输介质，为通信设备提供稳定、高速 和远距离的数据交互能力。 光模块并不等同于整个光通信系统，两者在功能定位上存在显著差异。光模块的核心是完成电信号与 光信号的转换，是光通信网络的关键接口；而光通信系统则涵盖传输、交换、处理等更为复杂的整体 架构。可以认为光模块是光通信的基础。 从使用场景来看，光模块已经渗透到多类网络设备中。在数据中心，光模块承担服务器与交换机之间 的大规模高速互联；在电信网络中，它为基站、核心网与骨干网提供稳定传输；在企业园区和超算中 心，光模块则保证低时延与大容量通信需求。 从技术构成来看，光模块主要由光芯片、电芯片、封装和散热系统组成。光芯片实现电 —光/光—电 转换，电芯片负责信号调制、驱动和放大，封装工艺决定其传输速率与功 ...

格隆汇10月11日｜有投资者在互动平台向凌云光提问：除了CPO(共封装光学)，市场关注CPC(Co- Packaged Copper，共封装铜互联) 这一新兴技术。公司在铜互联技术方面是否有相应的技术储备？如何 看待CPC技术在短距离高速互联中的应用前景，公司是否有研发或产品规划？ 凌云光回复称，公司光 通信业务代理国际领先的光通信产品和解决方案，如800G/1.6T硅光模块、OCS全光交换、PWB光子引 线键合、其他高端光电器件和仪器等。 ...

格隆汇10月10日丨凌云光(688400.SH)在投资者互动平台表示，公司光通信业务代理国际领先的光通信 产品和解决方案，如800G/1.6T硅光模块、OCS全光交换、PWB光子引线键合、其他高端光电器件和仪 器等。 ...

剑桥科技在互动平台表示，公司的800G光模块产品已大批量出货，并对2025年上半年的业绩增长有所 贡献。公司正在根据客户需求的变化持续扩充产能，以满足不断增长的客户需求。公司规划800G系列 产品年化产能在2025年底达200万只（该时点的年化产能，非全年实际产出），产能分布于上海、嘉善 及马来西亚工厂。 ...

格隆汇9月29日丨智立方(301312.SZ)在投资者互动平台表示，公司在光通信CPO领域推出了多款设备， 包括光芯片排巴机、摆盘分选机、光芯片AOI设备、芯片检测及分选设备、高速高精固晶机等，目前交 付有序、销售稳步增长。 ...

Group 1 - The company, Hengtong Optical Communication Technology (Shenzhen) Co., Ltd., has officially started the IPO process on the Beijing Stock Exchange, with the review meeting scheduled for September 25, 2025 [1] - Hengtong focuses on the research, manufacturing, and sales of passive optical devices, with major business segments including passive optical fiber cabling, passive internal connection devices, and related supporting businesses [3] - From 2021 to June 2025, the company's operating revenue showed a consistent upward trend, with revenues of 396.98 million, 475.35 million, 613.36 million, 1.315 billion, and 1.021 billion yuan respectively [3] Group 2 - The main source of revenue for Hengtong comes from passive optical fiber cabling products, which accounted for approximately 66.13% to 73.36% of the main business income from 2021 to June 2025 [4] - The passive optical fiber cabling products include optical fiber connectors, which are widely used in fiber transmission lines, fiber distribution frames, testing instruments, and data center cabling [6] - The MPO optical fiber connector market is expected to exceed 6 billion USD by 2029, driven by the rapid development of data centers and the increasing demand for high-speed optical modules [6] Group 3 - Currently, there is a shortage of overall MPO optical fiber production capacity in China, with a 35% year-on-year increase in fiber imports as of May 2025 [7] - Companies like Hengtong are involved in various types of optical fiber connectors, including LC, SC, and MPO/MTP, although specific category proportions have not been disclosed [7]

开源证券近日发布通信行业点评报告：2025年9月22日，OpenAI与英伟达宣布战略合作 意向书，计划部署至少10GWNVIDIA系统的AI数据中心，以用于训练和运行OpenAI下一代 AI模型。据英伟达CEO黄仁勋表示，10GW相当于400万—500万块GPU，约等于英伟达2025 年的出货总量，是2024年的两倍。 以下为研究报告摘要： OpenAI与英伟达宣布战略合作意向，计划部署至少10GW AIDC 2025年9月22日，OpenAI与英伟达宣布战略合作意向书，计划部署至少10GWNVIDIA系 统的AI数据中心，以用于训练和运行OpenAI下一代AI模型。据英伟达CEO黄仁勋表示， 10GW相当于400万—500万块GPU，约等于英伟达2025年的出货总量，是2024年的两倍。英 伟达计划逐步投资最高1000亿美元于OpenAI，每部署1GW数据中心就会进行相应的投资， 首批1GW计划将于2026年下半年用于部署Vera Rubin系统。该合作具体细节双方将在未来几 周内最终确定，这项合作还补充了双方与微软、甲骨文、软银及"星际之门"项目的现有合 作。 【责任编辑：杨梓安 】 随着AI算力需求发展 ...

Summary of Conference Call Records Industry Overview - The conference call discusses the optical communication industry, specifically focusing on Optical Circuit Switch (OCS) technology and its market potential. The industry is expected to maintain high growth, particularly for leading optical module manufacturers in 2027-2028, making them a recommended investment direction [1][2]. Key Points and Arguments - **Investment Opportunities**: - Leading optical module manufacturers are highlighted for their high earnings certainty and reasonable valuations, with no signs of bubble formation for 2026 [2]. - Secondary overseas computing chain optical module manufacturers are also noted for having upward performance revision potential for 2026, presenting investment opportunities [3]. - **Emerging Technologies**: - New technologies are creating investment opportunities in three networking directions: Skill out (CPO/CPC), Skill up (OCS/OIO), and Skill across (hollow fiber). OCS is particularly noted for its low latency, low power consumption, and cross-generational hardware reuse advantages [1][5]. - **OCS Technology**: - OCS technology allows for direct switching of optical signals, achieving low latency (tens of nanoseconds) and low power consumption, while being transparent to data formats. However, it has longer switching delays (tens of milliseconds) and higher insertion losses [6][12]. - Major OCS technology solutions include MEMS (Google, Lumentum, Huawei) and liquid crystal (Coherent). MEMS is economically favorable but has longer switching times, while liquid crystal offers high reliability and scalability but requires optimization for switching times [7][8]. - **Market Growth Predictions**: - The OCS market is projected to exceed $1.6 billion by 2029, with potential market space estimated at $2 billion by Coherent [4][12]. Additional Important Content - **Challenges with Traditional Circuits**: - Traditional circuits face issues like packet loss during data transmission. OCS networking aims to reduce data loss and enhance performance in large-scale training clusters by providing more reliable data transmission paths [13]. - **Impact of Supernode Networking**: - The increasing demand for supernode networking highlights OCS's advantages in high predictability and high certainty traffic transmission scenarios, particularly in interconnections between racks or pods [14]. - **OCS Industry Chain**: - The OCS industry chain includes core components such as MEMS chips, optical circulators, lenses, and wavelength division multiplexers. It also involves the entire OCS system manufacturing process [15]. - **Domestic Participation**: - Domestic companies are primarily involved in various optical components or crystal materials and system manufacturing, playing a significant role in advancing OCS technology [16].