Core Viewpoint - The company has observed a growing market interest in optical fiber and cable products related to computing power data centers, particularly in hollow core fibers, which are still in the early application stage and have not yet formed stable sales, pricing, or profit levels [1] Industry Summary - Currently, optical fiber and cable products related to data centers account for a small proportion of the total global demand for optical fibers and cables [1] - Hollow core fibers are considered a cutting-edge product in the industry, but their business development is contingent on the further maturation of the supply chain [1] - The current hollow core fiber-related business has not yet had a significant impact on the company's financial data [1]

人民财讯9月18日电，长飞光纤(601869)9月18日晚间发布股票交易异常波动公告称，公司注意到近期市 场对算力数据中心相关光纤光缆产品，尤其是空芯光纤关注度较高。目前与数据中心相关的光纤光缆产 品占全球光纤光缆需求总量的比例较小，其中，空芯光纤作为行业前沿产品，其应用仍处于早期阶段， 尚未形成规模销售、尚未形成稳定的价格及利润水平，后续业务发展也有待于产业链的进一步成熟。目 前，空芯光纤相关业务尚未对公司财务数据产生明显影响。 转自：证券时报 ...

智通财经APP讯，长飞光纤(601869.SH)公告，公司股票价格2025年9月16日至2025年9月18日连续三个 交易日收盘价格涨幅偏离值累计超过20%，股价波动幅度较大。 公告称，公司注意到近期市场对算力数据中心相关光纤光缆产品，尤其是空芯光纤关注度较高。目前与 数据中心相关的光纤光缆产品占全球光纤光缆需求总量的比例较小，其中，空芯光纤作为行业前沿产 品，其应用仍处于早期阶段，尚未形成规模销售、尚未形成稳定的价格及利润水平，后续业务发展也有 待于产业链的进一步成熟。目前，空芯光纤相关业务尚未对公司财务数据产生明显影响。 ...

Core Viewpoint - The company has noted a rising market interest in optical fiber and cable products related to computing power data centers, particularly in hollow core fibers, which are still in the early application stage and have not yet formed stable sales, pricing, or profit levels [1] Industry Summary - Currently, optical fiber and cable products related to data centers account for a small proportion of the total global demand for optical fiber and cable [1] - Hollow core fiber, as a cutting-edge product in the industry, has not yet achieved significant sales volume or stable pricing and profit levels, indicating that further business development is contingent on the maturation of the industry chain [1] - The current hollow core fiber-related business has not had a noticeable impact on the company's financial data [1]

Core Viewpoint - Changfei Fiber Optics (601869) and its subsidiary are experiencing significant stock price increases due to advancements in fiber optic technology and strong market demand driven by AI and data centers [1] Group 1: Company Performance - Changfei Fiber Optics' stock rose over 6% and is currently trading at 57.2 HKD with a transaction volume of 2.457 billion HKD [1] - The company secured a 50% share in a centralized procurement of G.654.E optical cable products by China Mobile, which totaled 3.1386 million core kilometers [1] Group 2: Industry Developments - A new type of hollow-core fiber developed by the Lumenisity research team, supported by Microsoft, has achieved the lowest signal attenuation level ever recorded, marking a significant breakthrough in optical communication technology [1] - The demand for optical fibers is accelerating due to the increasing interconnect needs of AI-driven data centers, prompting major companies, including Microsoft and domestic firms, to expedite their investments in hollow-core fiber technology [1] Group 3: Product Performance - As data center clusters grow in scale, the performance requirements for optical fiber products, such as effective transmission distance and latency, have increased [1] - Changfei's high-end multimode fibers and its subsidiary Changxin Bochuang's MPO jumpers and AOC components used in data centers have all seen performance growth [1]

Group 1 - The core point of the article highlights a significant breakthrough in optical communication technology with the development of a new type of hollow-core fiber by the Lumenisity research team, supported by Microsoft, achieving the lowest signal attenuation level ever recorded [1] - The optical fiber industry is accelerating its evolution due to the increasing demand for interconnected data centers driven by AI, with major companies, including Microsoft, intensifying their investments in hollow-core fiber technology [1] - In June, China Mobile conducted a centralized procurement for G.654.E optical cable products, with a total procurement volume of 3.1386 million core kilometers, and Longi Fiber Optic secured a 50% share of this procurement [1] Group 2 - As data center clusters grow in scale, the performance requirements for optical fiber products, such as effective transmission distance and latency, have significantly increased, leading to growth in Longi's mid-to-high-end multimode fibers and optical interconnect components [1] - Longi's subsidiary, Changxin Bochuang, has seen performance growth in products like MPO jumpers and AOC used in data center markets [1]

Core Viewpoint - The company, Hengtong Optic-Electric, has made significant advancements in the field of hollow optical fibers, achieving international standards in loss performance and demonstrating the capability for large-scale delivery by 2025 [2] Group 1: Research Achievements - Hengtong Optic-Electric's hollow core anti-resonant optical fiber has achieved a loss of ≤0.2 dB/km in specific wavelength bands, reaching internationally advanced levels [2] - The company has independently innovated and established a comprehensive core preparation technology system for hollow optical fibers [2] Group 2: Future Plans - The company plans to invest in an AI advanced optical fiber materials R&D and manufacturing center, with construction set to begin in September 2025 and completion expected by February 2026 [2] - The first phase of investment will add multiple production lines and advanced equipment for the manufacturing of ultra-low loss hollow fibers, ultra-low loss multi-core fibers, and high-performance multi-band multimode fibers [2] - These developments aim to continuously enhance the company's capacity for large-scale delivery [2]

Group 1 - The core viewpoint of the article highlights the strategic developments of Changfei Optical Fiber and the establishment of Changzhi Company, which marks a significant step in the company's AI strategy and transition from "communication transmission" to "intelligent applications" [1] - On September 17, shareholders of Changfei Optical Fiber (601869) deposited stocks into Morgan Stanley's brokerage in Hong Kong, with a market value of HKD 20.39 billion, accounting for 10.7% of the total [1] - The signing ceremony for the establishment of Changzhi Company, a joint venture involving Changfei, Sanya Digital Economy Industrial Park, a robotics company, and Digital Huaxia, took place on September 12 [1] Group 2 - The establishment of Changzhi Company is seen as a solid foundation for the implementation of Changfei's AI strategy, indicating a strategic shift in the company's focus [1] - The collaboration with various partners in the formation of Changzhi Company reflects the company's commitment to expanding its capabilities in the intelligent robotics sector [1]

Group 1 - The core point of the article highlights the significant stock deposit by shareholders of Changfei Fiber Optics (06869) into Morgan Stanley Brokerage (Hong Kong), with a market value of HKD 20.39 billion, representing 10.7% of the total [1] Group 2 - On September 12, a signing ceremony for the establishment of Changzhi (Sanya) Embodied Intelligent Technology Co., Ltd. took place, marking a collaborative effort among Changfei, Sanya Digital Economy Industrial Park, a robotics company, and Digital Huaxia [1] - The establishment of Changzhi Company is seen as a solid foundation for the implementation of Changfei's AI strategy and represents a significant step in the company's strategic shift from "communication transmission" to "intelligent applications" [1]

Group 1: Investment Trends - Southbound funds have recorded a net purchase of Alibaba amounting to HKD 50.51 billion, Meituan HKD 21 billion, and other companies such as Changfei Optical Fiber and Semiconductor Manufacturing International Corporation (SMIC) [1] - Southbound funds have continuously net bought Alibaba for 19 days, totaling HKD 548.91 billion, and Meituan for 3 days, totaling HKD 34.88 billion [1] Group 2: Company Performance - Alibaba's stock has increased by 5.3% with a net purchase of HKD 21.56 billion and a trading volume of HKD 88.06 billion [3] - Meituan's stock has risen by 4.9% with a net purchase of HKD 11.79 billion and a trading volume of HKD 51.92 billion [3] - Changfei Optical Fiber reported a net profit of HKD 296 million for the first half of the year, a decrease of 22% year-on-year, with a significant drop of 55% in the second quarter [4] - SMIC is reportedly testing a deep ultraviolet lithography machine manufactured by a Shanghai startup, indicating advancements in technology [5] Group 3: Analyst Ratings - Goldman Sachs has raised Alibaba's target price from USD 163 to USD 179, maintaining a "Buy" rating due to its strong market position and international expansion potential [4] - Changfei Optical Fiber is maintaining an "Overweight" rating while diversifying its product offerings [5]