Ciena表示，来自云服务商的订单非常强劲，并且在其所有产品组合中都在不断增长，预计2026财年 的收入同比增长24%。公司对2026年需求感觉非常强劲，预计这种势头会延续到 2027 年。云厂商对 网络的"投资不足"正使其成为AI规模化运营的关键瓶颈。 隔夜，光通信巨头Ciena公布了强劲的季度业绩，其营收与利润双双超过市场预期，营收同增20%至 13.5亿美元，创历史新高，并对未来业绩给出了积极指引。 在随后的电话会上，Ciena表示，来自云服务商的订单非常强劲，并且在其所有产品组合中都在不断 增长，预计2026财年的毛利率将在43%左右，云厂商对网络的"投资不足"正使其成为AI规模化运营的 关键瓶颈。 以下是电话会要点： 来自云服务商的订单非常强劲，并且在我们所有产品组合中都在不断增长，这些订单构成了我们不 断增长的积压订单的相当大一部分。 人工智能驱动的这一日益增长的机遇正是数据中心内外市场。事实上，公司在数据中心内外市场的 机遇在2024年至2025年间增长了三倍，并成为我们2026年预期增长率的主要贡献者。 公司预计2026财年的收入约为57亿至61亿美元，年增长率接近 24%（取中间值），高于 ...

Core Viewpoint - Ciena reported strong quarterly results with revenue and profit exceeding market expectations, achieving a record revenue of $1.35 billion, a 20% year-over-year increase, and provided positive guidance for future performance [1][6]. Group 1: Financial Performance - Ciena's fourth-quarter revenue reached $1.35 billion, marking a 20% increase year-over-year, while annual revenue was $4.77 billion, also a record high [6][17]. - The company achieved a record order intake of $7.8 billion for the year, resulting in a backlog of approximately $5 billion, which supports revenue expectations for fiscal year 2026 [18]. - Adjusted gross margin for the fourth quarter was 43.4%, exceeding previous expectations by 90 basis points, driven by revenue growth and an increase in software business [18]. Group 2: Market Dynamics - Demand from cloud service providers is accelerating, with significant orders contributing to a growing backlog across all product lines [4][7]. - The company anticipates that the revenue for fiscal year 2026 will be between $5.7 billion and $6.1 billion, representing a year-over-year growth rate of approximately 24% [4][19]. - Ciena's market share in the optical fiber segment has increased by 2 percentage points this year, with expectations for further growth in 2026 [8]. Group 3: Strategic Initiatives - Ciena is focusing on the production ramp-up of 800G pluggable modules, which is expected to lower unit costs over time as production scales [4][37]. - The company is actively investing in its product portfolio to capture the growing market segment, particularly in interconnect products and AI-driven applications [12][13]. - Ciena's partnerships with major cloud service providers are strengthening, as they recognize the need for network expansion to support AI workloads [7][50]. Group 4: Future Outlook - The company expects operating profit margins to improve to around 17% for fiscal year 2026, with capital expenditures projected between $250 million and $275 million [21][20]. - Ciena is confident in the sustainability of demand, with expectations that the momentum will continue into 2027 and beyond [18][19]. - The anticipated revenue growth is supported by ongoing investments and strategic partnerships, positioning Ciena favorably in the AI-driven market landscape [10][11].

答:目前，公司批量生产的光通信产品主要为光纤连接器，主要包括MTP/MPO光纤跳线、高密度光纤跳 线、光纤阵列类组件、常规光纤跳线等。未来，随着数据中心建设加速及算力需求不断增长，光通信产 品的技术迭代持续提速，配套解决方案亦随之不断升级完善。公司将始终紧跟行业技术发展趋势，结合 客户的实际需求，加大研发投入力度，强化技术制程能力，提升产品的竞争力。同时，公司将根据市场 的需求情况稳步提升扩大产能，提升整体运营效率。 格隆汇12月11日丨致尚科技(301486.SZ)在投资者关系中表示，有被问到: 目前，公司在光通信领域的主 要产品有哪些，未来将如何保持公司在光通信领域的业绩增长？ ...

每经AI快讯，12月10日，CPO板块探底回升，长飞光纤、特发信息午后拉升涨停，新易盛涨3%、中际 旭创涨2%创历史新高。 （文章来源：每日经济新闻） ...

智通财经APP讯，德科立(688205.SH)发布公告，公司股票交易连续三个交易日内(2025年12月5日、2025 年12月8日、2025年12月9日)收盘价格涨幅偏离值累计超过30%。根据《上海证券交易所交易规则(2023 年修订)》《上海证券交易所科创板股票异常交易实时监控细则》的有关规定，属于股票交易异常波动 情形。近期，受AI算力建设需求驱动，光交换(OCS)产品受到市场高度关注。 公司始终紧密跟进前沿技 术演进，硅基OCS产品已获取海外样品订单，目前正处于样品交付与客户验证阶段，尚未取得海外主流 厂商的批量订单，该样品订单对公司营收贡献有限。当前OCS领域技术路线多样、研发门槛高，整体市 场仍处早期培育与生态形成阶段，其技术路径、应用场景与规模化时间表仍具有不确定性，市场前景尚 未明朗。 ...

Core Viewpoint - The CPO sector in the A-share market has experienced a significant surge, with multiple stocks reaching their historical highs, driven by the increasing demand for AI computing power and the ongoing upgrade of the optical module industry [1][2]. Group 1: Stock Performance - Dekoli (688205) reached a 20% increase, with a total market value of 26.1 billion and a year-to-date increase of 136.95% [2]. - Yueling Co. (002725) saw a 9.98% rise, with a market value of 4.485 billion and a year-to-date increase of 63.28% [2]. - Taicheng Light (300570) increased by 8.46%, with a market value of 29.5 billion and a year-to-date increase of 80.23% [2]. - Ruijie Network (301165) rose by 6.65%, with a market value of 69.6 billion and a year-to-date increase of 71.08% [2]. - Zhongji Xuchuang (300308) increased by 5.01%, with a market value of 665.1 billion and a year-to-date increase of 387.06% [2]. - Other notable stocks include Jingwang Electronics, Juguang Technology, and Xinyi Sheng, all showing increases of over 3% [1]. Group 2: Industry Insights - The global optical module industry is accelerating its upgrade to 800G/1.6T due to the demand for AI computing power, with optical isolators becoming a critical component due to a global supply shortage of Faraday rotators [2]. - The production of Faraday rotators is monopolized by a few manufacturers in the U.S. and Japan, creating a significant supply-demand mismatch as the demand for high-speed optical modules surges [2]. - Companies positioned in the optical isolator sector are expected to benefit from their scarcity, sufficient production capacity, and high technical barriers, making them key players in the industry [2].

一、行情 1）光隔离器作为光模块中保护激光器的关键无源组件，正因其上游核心材料法拉第旋光片的全球性供应短缺，成为制约光模块产能扩张的"卡脖子"环节。 该材料技术壁垒极高，生产由美国、日本少数厂商垄断，而高速光模块需求爆发，单模块隔离器用量随通道数增加，导致供需严重错配。这使得隔离器成为 产业链中持续紧缺、具备价格弹性的关键元件，布局此领域企业有望凭借其稀缺性、充足的产能与技术壁垒构建优势持续受益。包括：东田微、福晶科技、 天孚通信等。（国盛证券） 2）美股Credo发布2026财年Q2财报，当季营收2.68亿美元，公司总裁表示，公司核心AEC和IC业务的持续增长，ZeroFlap Optics、ALC和OmniConnect解决 方案即将推出，公司盈利能力有望不断增强。 12月8日，光通信板块集体大涨，行业龙头中际旭创、天孚通信等再创历史新高，汇绿生态、万通发展等先后涨停，天孚通信、腾景科技、德科立、长光华 芯等集体大涨。 其中行业新细分光隔离器概念的东田微（20CM）、福晶科技涨停。 二、事件：美股巨头均创历史新高+向光连接转型。 1）当地时间12月5日，Lumentum、Coherent连续创出历史新高， ...

| | | | | CPO概念板块个股 | | | | --- | --- | --- | --- | --- | --- | --- | | 序号 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | 1 | 300394 | 天孚通信 | 1 | 16.72 | 1803亿 | 258.46 | | 2 | 300620 | 光库科技 | 1 | 11.30 | 404亿 | 234.50 | | 3 | 688205 | 德科立 | 1 | 11.14 | 214亿 | 93.88 | | 4 | 300757 | 罗博特科 | 1 | 10.59 | 401亿 | 6.18 | | 5 | 301205 | 联特科技 | -06- | 10.37 | 174亿 | 77.31 | | 6 | 001267 | 汇绿生态 | 1 | 10.03 | 159亿 | 167.30 | | 7 | 600498 | 烽火通信 | 1 | 7.75 | 337亿 | 28.33 | | 8 | 688313 | 仕佳光子 | 1 | 7.52 | 425亿 | 466.39 | | 9 ...

CPO板块持续拉升，中际旭创股价创历史新高，天孚通信涨近10%，通宇通讯、中瓷电子涨停，泰晶科 技、腾景科技跟涨。 ...

2026 年科技领域的两大核心赛道是什么？这些赛道的市场前景如何？ "AI+卫星"共舞 20251207 摘要 AI 产业链景气度持续上升，各大巨头持续投资 AI 算力，部分客户已展望 至 2028 年需求，预示长期需求乐观，产业链公司积极扩产以应对潜在 的产能和供给挑战。 光通信领域，1.6T 高速光模块预计 2026 年放量，并出现 6.4T/12.8T 需求。市场对 2026 年 800G 激光模块需求预期为 4,000-4,500 万只， 1.6T 光模块需求预测为 2000-3,000 万只。 硅光芯片和 CW 激光器受益于 800G/1.6T 光模块发展，硅光模块渗透 率有望提升，中兴通讯、新胜等龙头企业市占率有望提高。CW 激光器 国产化替代速度预计快于 EML/VCSEL，国内企业如源杰科技等积极储 备产能。 FA 和 MPO 等无源器件市场空间巨大，预计 2025-2026 年分别达到 30-40 亿及 100 亿以上。致尚科技、杰普特等公司积极布局并扩产，康 宁对行业前景持乐观态度。 OCS 技术与谷歌 TPU 紧密相关，Meta、亚马逊、微软等巨头推进 ASIC 自研项目，将拉动 OCS ...