（文章来源：每日经济新闻） 每经AI快讯，12月26日，午后CPO概念持续调整，长光华芯跌超10%，罗博特科、腾景科技、联特科 技、源杰科技、仕佳光子、德科立均跌超5%。 ...

Group 1 - The optical packaging (CPO) sector has experienced a short-term decline, with Longguang Huaxin falling over 9% [1] - Other companies such as Dongtian Micro, Yuanjie Technology, Dekeli, and Yidong Electronics also saw declines [1]

Core Viewpoint - The article discusses the current state and future potential of Co-Packaged Optics (CPO) technology in the AI infrastructure landscape, emphasizing that while CPO is seen as a next-generation technology, its widespread adoption is not imminent due to existing technological limitations and market dynamics [1][24]. Group 1: Current Industry Sentiment on CPO - Broadcom's CEO Hock Tan stated that silicon photonics will not play a significant role in data centers in the short term, indicating that CPO is not a leapfrog technology but rather a last resort when existing technologies reach their limits [1][24]. - Major industry players, including Arista, Credo, Marvell, and Lumentum, echoed similar sentiments at the Barclays Global Technology Conference, suggesting a cautious approach towards CPO adoption [1][24]. Group 2: Shift in Industry Focus - The AI industry has shifted its focus from merely increasing computing power to addressing interconnectivity and system-level architecture, as the bottleneck has moved from computational capacity to interconnect capabilities [3][4]. - Companies are now prioritizing terms like Scale-Out, Scale-Up, and Scale-Across, indicating a deeper understanding of the infrastructure bottlenecks in AI [4]. Group 3: Horizontal and Vertical Scaling - Horizontal scaling (Scale-Out) is currently dominated by pluggable optics, with CPO technology not yet widely adopted due to the existing 800G and 1.6T technologies still being the main focus [7][8]. - Vertical scaling (Scale-Up) was initially seen as a promising application for CPO, but its timeline has been pushed back, with large-scale deployment expected around 2027-2028 [9][10]. Group 4: Challenges Facing CPO - CPO faces significant challenges, including higher costs, reliability issues, and power consumption concerns, which have delayed its mass production [18][24]. - The complexity of system design and the need for a mature supply chain are also major obstacles to the widespread adoption of CPO technology [19][24]. Group 5: Alternative Solutions - Transition solutions like LPO, AEC, and ALC are increasingly being recognized as viable alternatives to CPO, with many companies focusing on these technologies to meet current demands [15][25]. - LPO technology has already seen large-scale deployment, providing cost and power advantages, while AEC and ALC are being developed to offer reliability similar to copper cables with the bandwidth of optical solutions [15][25]. Group 6: Future Outlook - Industry predictions suggest that CPO will begin to see deployment in specific high-density systems around 2028, but the current focus remains on optimizing existing technologies [26][27]. - The industry consensus is that CPO will not be the immediate solution until existing technologies reach their limits in terms of power, density, and reliability [27].

格隆汇12月24日丨锐科激光(300747.SZ)在互动平台表示，睿芯公司产品包含掺铒光纤，其在 1.5μm 波 段增益高、带宽大、噪声低，且与通信光纤低衰减窗口吻合，广泛用于光通信 DWDM 光传输网和 CATV 网络的光信号放大。铒镱共掺光纤则具备良好光束质量与高转化效率，可实现 1.5μm 波段高功率 激光输出及放大。基于特有掺杂体系，光纤可按需调控吸收系数与增益谱，满足客户定制化需求。 ...

格隆汇12月24日丨意华股份(002897.SZ)在互动平台表示，公司在研究跟踪1.6T光模块的技术发展，目前 暂无1.6T光模块产品。 ...

Core Viewpoint - Delong Laser (688170.SH) has developed a patented "silicon photonic chip laser bonding equipment" aimed at addressing issues in optical communication module production, utilizing laser as a heat source instead of traditional reflow soldering methods [1] Group 1: Technology and Innovation - The patented technology solves the problem of uneven heat distribution during chip bonding, which can lead to variations in metallurgical bonding forms [1] - The innovation represents a significant advancement in the production process for optical modules [1] Group 2: Business Operations - Delong Laser has secured orders from several leading domestic clients for its optical module production equipment [1] - Despite the acquisition of these orders, the revenue contribution from this business segment remains relatively small within the company's overall income [1]

Group 1 - The core point of the news is that Dekoli has seen a stock price increase of 5.35%, reaching 162.35 CNY per share, with a trading volume of 1.766 billion CNY and a turnover rate of 7.29%, resulting in a total market capitalization of 25.698 billion CNY [1] - Dekoli, established on January 31, 2000, and listed on August 9, 2022, specializes in the research, production, and sales of optical transceiver modules, optical amplifiers, and optical transmission subsystems, primarily used in key national development areas such as communication trunk transmission, 5G front-haul, 5G mid-haul, data link collection, data center interconnection, and ultra-high voltage communication protection [1] - The revenue composition of Dekoli's main business includes 75.33% from transmission-related products, 23.54% from access and data-related products, and 1.13% from other sources [1] Group 2 - Tianzhi Fund has a significant holding in Dekoli, with the Tianzhi China Manufacturing 2025 Mixed Fund (350005) holding 3,300 shares, accounting for 2.58% of the fund's net value, making it the sixth-largest holding [2] - The Tianzhi China Manufacturing 2025 Mixed Fund was established on May 8, 2008, with a latest scale of 15.5074 million CNY, achieving a year-to-date return of 13.74% and a one-year return of 6.43%, ranking 5209 out of 8088 and 6290 out of 8057 in its category, respectively [2] - The fund manager, Liang Li, has been in the position for 4 years and 254 days, with the fund's total assets amounting to 64.314 million CNY, achieving a best return of 18.73% and a worst return of -66.54% during the tenure [3]

Core Viewpoint - Jiangsu Yongding Co., Ltd. plans to increase capital and introduce external investors for its subsidiary, Suzhou Dingxin Optoelectronics Technology Co., Ltd. The total investment amounts to RMB 55 million, with a portion allocated to registered capital and the remainder to capital reserves [1][4][39]. Group 1: Capital Increase Overview - The capital increase will involve external investors including Wuxi Jicui, Suzhou Longju, Fuzhou Innovation, and others, contributing a total of RMB 55 million [1][4]. - After the capital increase, the registered capital of Dingxin Optoelectronics will rise from RMB 23.633875 million to RMB 25.163127 million [1][4]. - The company will waive its right of first refusal regarding this capital increase [1][4]. Group 2: Shareholding Structure Changes - Post-transaction, the combined shareholding of the company and its subsidiary Wuhan Optoelectronics Group in Dingxin Optoelectronics will decrease from 55.8879% to 52.4914% [2][4]. - The company's direct shareholding in Dingxin Optoelectronics will drop from 24.2384% to 22.7654%, while the shareholding through Wuhan Optoelectronics Group will decrease from 31.6495% to 29.7260% [2][4]. Group 3: Transaction Approval and Compliance - The transaction has been approved by the company's board of directors and does not require shareholder approval as it falls within the board's authority [2][4][36]. - The transaction does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations [2][4]. Group 4: Valuation and Financial Impact - The pre-investment valuation of Dingxin Optoelectronics is set at RMB 85 million, with a post-investment valuation of RMB 90.5 million [20][39]. - The capital increase is aimed at enhancing Dingxin Optoelectronics' competitiveness and aligns with the company's long-term strategic goals [4][36]. Group 5: Investor Profiles - The external investors include Wuxi Jicui, Suzhou Longju, and others, all of which have no affiliation with the company, ensuring an independent investment structure [6][7][9][10][12][14]. - Each investor's contribution varies, with Wuxi Jicui investing RMB 20 million and others contributing smaller amounts [4][19]. Group 6: Future Considerations - The company maintains control over Dingxin Optoelectronics despite the dilution of shareholding, ensuring it remains a consolidated subsidiary [2][4]. - The capital increase is expected to strengthen the company's financial position and support ongoing operations without adversely affecting shareholder interests [36][39].

格隆汇12月22日丨光迅科技(002281.SZ)在互动平台表示，公司已经针对6G承载光网络可能涉及的光器 件模块开展技术预研。 ...

格隆汇12月22日丨光迅科技(002281.SZ)在互动平台表示，公司已经针对6G承载光网络可能涉及的光器 件模块开展技术预研。 ...