证券日报网讯12月22日，光迅科技（002281）在互动平台回答投资者提问时表示，公司作为光模块行业 的主要供应商，正在加大海外市场拓展力度，主要客户覆盖电信设备商、数通设备商及互联网等厂家。 ...

3、近期资金利率快速下行，隔夜利率稳定在1.27%附近，2Y活跃券250017收益率今日继续下行至 1.372%的新低。长端利率受交易盘影响出现反复，10Y利率小幅回升至1.845%。资金利率维持低位反映 央行对债市态度偏呵护，期限利差扩大不利于货币政策传导。在流动性维持宽松的环境下，后续长端利 率或迎来一波修复行情，或可关注十年国债ETF(511260)进行布局。 1、今日A股延续上涨态势，集体收涨。上证指数收于3917.36点，上涨0.69%，深证成指收于13332.73 点，上涨1.47%。两市成交量继续回升，共计接近1.9万亿元。市场整体涨多跌少，上涨个股约3000家， 其中电子、通信方向领涨。在积极的政策与资金持续流入的推动下，A股后市仍然偏积极，有望实 现"开门红"行情。 2、2026年中国将延续宽松的货币政策与积极的财政政策，总需求有望进一步回暖。在经济回暖阶段， A500指数凭借对先进制造、信息技术、通信、医药、原材料等的超配，更容易释放相对收益。其年化 受益、夏普比率优于主要宽基，成长占优期弹性更强。近期资金流向显示，A500ETF位居净流入前列， 显示出资金对中证A500的持续偏好。感兴趣 ...

今天A股高开高走！截至收盘，沪指涨0.69%，深成指涨1.47%，创业板指涨2.23%。沪深两市成交额1.86万亿，较上一个交易日放量1360亿。盘面上， 市场热点快速轮动，全市场超2900只个股上涨，其中有105只个股涨停。 通信ETF光模块含量占比超过48%，服务器含量超过20%，叠加光纤、铜连接等成分，核心环节成分占比超过76%。通信设备ETF是全市场唯一一只跟 踪通信设备主题指数的ETF，高度聚焦AI相关的光模块和算力硬件龙头企业。 创业板人工智能ETF权重股包含新易盛(光模块)、中际旭创(光模块)、天孚通信(光器件)。 中信建投研报认为，AI大模型仍在持续迭代升级，竞争远未结束，算力需求旺盛，继续看好AI算力板块。北美链继续看好之外，国内链也建议重视， 一方面国内链公司前期调整较多，而北美链光模块公司近期已纷纷新高，另一方面随着国产GPU能力及供给量的提升以及H200的放开，有望加速国内AI算 力基础设施的部署节奏。 兴业证券认为，2026年海外算力有望"空中加油"。2025年，AI算力投资高景气驱动通信板块显著跑赢大盘；展望2026年，我们认为海外算力有望进 入"空中加油"新阶段：2025年北美C ...

今日（12月22日）科技成长方向大反攻，创业板指、科创50纷纷涨超2%，覆盖创业板+科创板高成长龙 头的硬科技宽基——双创龙头ETF（588330）场内价格一度涨近3%，现涨2.85%，盘中收复10日均 线。 细分方向来看，光模块三巨头方面，中际旭创涨超8%，新易盛涨逾6%再创新高，天孚通信涨超4%；半 导体设备方面，拓荆科技涨超9%，盛美上海涨逾6%。此外，光伏龙头晶盛机电涨超8%，印制电路板 （PCB）龙头胜宏科技涨逾3%。 图：双创龙头ETF标的指数涨幅前10大成份股 消息面上，上海交通大学科研人员近日在新一代光芯片领域取得突破，首次实现了支持大规模语义媒体 生成模型的全光计算芯片。相关成果12月19日发表于《科学》杂志。 资料显示，光芯片是光模块的核心上游组件，承担光电/电光转换的核心功能，其性能直接决定光模块 的速率、功耗与稳定性。中原证券表示，光芯片在不同速率光模块的成本占比通常在30%-70%，而越高 速、越高端的光模块，光芯片的成本占比就越高。 1、跨市场多元配置，百分百战略新兴：标的指数从科创板和创业板中选取市值较大的50只战略新兴产 业上市公司作为指数样本，汇集高成长龙头，囊括新能源、光伏 ...

Core Viewpoint - The technology growth sector experienced a significant rebound on December 22, with the ChiNext Index and the STAR 50 both rising over 2%, indicating a strong performance in hard technology stocks, particularly the Double Innovation Leader ETF (588330) which saw an intraday increase of nearly 3% and currently up 2.85% [1][9]. Market Performance - The top-performing stocks in the light module sector included Zhongji Xuchuang, which rose over 8%, and Xinyi Sheng, which increased by more than 6% to reach a new high. Tianfu Communication also saw a rise of over 4% [3][11]. - In the semiconductor equipment sector, Tuo Jing Technology surged over 9%, while Shengmei Shanghai increased by more than 6% [3][11]. - The photovoltaic leader, Jingsheng Electromechanical, rose over 8%, and PCB leader, Shenghong Technology, increased by over 3% [3][11]. ETF Characteristics - The Double Innovation Leader ETF (588330) features a diversified cross-market allocation, selecting 50 large-cap strategic emerging industry companies from the STAR Market and ChiNext, covering sectors such as new energy, photovoltaics, light modules, semiconductors, and medical devices [6][15]. - The ETF is designed for high elasticity to capture technology market trends, with a relatively low investment threshold, allowing entry for less than 100 yuan at current prices [6][15]. - Since its low point on April 8, the ETF has increased by 84.08%, outperforming major indices such as the ChiNext Index (72.77%), STAR Composite Index (50.87%), and STAR 50 (41.60%) [6][15][17]. Industry Insights - Recent breakthroughs in optical chip technology by researchers at Shanghai Jiao Tong University have led to the development of an all-optical computing chip capable of supporting large-scale semantic media generation models, published in the journal "Science" on December 19 [3][12]. - Optical chips are critical components in light modules, with cost contributions ranging from 30% to 70%, depending on the speed and sophistication of the modules [4][13]. - LightCounting predicts rapid growth in the market for 800G and 1.6T optical modules, with an expected market size exceeding $22 billion by 2030 [4][14].

Core Viewpoint - The market is experiencing a significant increase in activity, particularly in sectors such as CPO, semiconductors, and photolithography machines, with a notable rise in trading volume and key indices [1] Group 1: Market Performance - As of 13:54, the total market turnover exceeded 1.5 trillion yuan, an increase of over 130 billion yuan compared to the same time the previous day [1] - The Guozheng Growth 100 Index rose by 4.4%, while the ChiNext Index increased by 2.2% [1] - Notable stock performances include Changxin Bochuang rising over 13%, Zhongji Xuchuang increasing over 8%, and Xinyi Sheng up over 6% [1] Group 2: Driving Factors - Analysts attribute the market's upward momentum to overseas cloud vendors accelerating the deployment of 800G optical modules and clear guidance for the upgrade to 1.6T products by 2025, leading to increased order visibility and performance certainty for related companies [1] - The Guozheng Growth 100 Index focuses on A-share stocks with strong growth characteristics, with over 70% of its weight concentrated in the electronics, communications, and computer sectors [1] - The index reflects typical "year-end technology market" characteristics, driven by seasonal liquidity easing and industry trends [1] Group 3: Sector Focus - The ChiNext Index consists of 100 stocks from the ChiNext board with large market capitalization and good liquidity, focusing on sectors such as power equipment, electronics, and biomedicine [1] - The index has a high weight in AI hardware and the new energy industry chain, which are expected to benefit from the dual themes of "technological power" and "anti-involution" [1]

Core Insights - The liquid cooling industry is transitioning from a "first development stage" focused on concepts and expectations to a "second development stage" characterized by order confirmations, capacity realization, and performance delivery [1][4] Group 1: Industry Transition - The liquid cooling system is moving towards performance realization, with high-power cabinets (100kW+) becoming the new norm, and the GB300 series AI servers expected to start mass production by the end of 2025 [2][4] - The market focus is shifting from discussions about liquid cooling concepts to actual performance metrics and market space evaluations, marking the end of the expectation-driven phase [1][2] Group 2: Competitive Landscape - The competitive landscape is evolving from individual component competition to a comprehensive thermal management system that spans servers, cabinets, and data center equipment, increasing customer reliance on solution providers [3][4] - Industry leaders are expected to benefit from their comprehensive solutions, large-scale delivery capabilities, and established relationships with major clients, reinforcing a "stronger gets stronger" dynamic in the market [3][4] Group 3: Market Opportunities - The liquid cooling market is being systematically re-evaluated as the application boundaries expand from GPU servers to switches and ASIC devices, indicating a significant growth potential [2][4] - Companies with full-stack solution capabilities and certifications from leading clients are positioned to capture the upcoming industry benefits, particularly those with extensive global delivery experience [4]

Group 1 - The core viewpoint of the news highlights a strong performance in the CPO, optical module, and optical chip sectors, with significant gains in the ChiNext AI ETF and individual stocks [1] - The ChiNext AI ETF (159382.SZ) has risen by 3%, with notable individual stocks like Changxin Bochuang and Zhishang Technology increasing over 10% [1] - A major breakthrough in the next-generation computing chip field was reported by Shanghai Jiao Tong University's Institute of Integrated Circuits, achieving a full optical computing chip that supports large-scale semantic media generation models [1] Group 2 - The ChiNext AI ETF (159382.SZ) serves as an efficient tool for investing in the trends of artificial intelligence and optical modules, with its index heavily weighted towards leading companies in the optical module sector [2] - The top ten constituent stocks of the ETF cover key companies across the entire computing power chain, including GPU, storage, and SoC, aligning with the core needs of building a self-sufficient AI industry system [2] - The sector is benefiting from the global AI infrastructure and China's market policies, highlighting the long-term investment value of the ChiNext AI ETF [2]

人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易盛、寒武纪-U、中科曙光、科大讯飞、豪威集团、海康威视、 澜起科技、金山办公、紫光股份等国内科技龙头。 A股科技赛道午后延续强势，CPO、无人驾驶、人工智能、人形机器人、存储板块全线上涨，沪市规模 最大的人工智能AIETF（515070）盘中涨2.08%，其持仓股新易盛、中际旭创涨幅均超6%，北京君正、 浪潮信息、芯原股份等股涨幅居前。 消息方面，据南方财经报道，深圳功能型无人车投放总量已达 1218 台（其中包含无人物流车 825 台），车辆数在全国一线城市中位列第一，累计开放运行线路 1594 条、总里程达 5534 公里。今年以 来，深圳等地颁发 L4 级自动驾驶微型货车测试牌照，标志着自动驾驶货运服务进入多场景、规模化发 展阶段。报道还提到，我国拥有全球最大的自动配送市场。截至 2025 年上半年，全国已有 103 个城市 开放无人配送车辆路权，全国无人配送车保有量突 ...

Group 1: Market Performance - The ChiNext AI ETF (159242) rose by 3.12% with a turnover rate of 11.95%, and a transaction volume of 36.43 million yuan, indicating active market trading [1] - The underlying index, ChiNext AI Index, increased by 3.24%, with notable gains from constituent stocks such as Zhishang Technology (+13.73%), Changxin Bochuang (+13.10%), and Xinyi Sheng (+6.19%) [1] Group 2: Industry Focus - The ChiNext AI Index emphasizes AI engineering and industrialization, focusing on foundational technology sectors like optical modules, computing chips, edge computing, and operating systems, distinguishing itself from other tech indices that prioritize algorithm models [1] - The top ten holdings of the index include companies like Xinyi Sheng, Zhongji Xuchuang, and Tianfu Communication, which are centered on domestic AI innovation and application [1] Group 3: Technological Advancements - Research from Shanghai Jiao Tong University introduced the LightGen all-optical computing chip, which supports large-scale semantic visual generation models, marking a breakthrough in next-generation computing chips [2] - Light computing is highlighted for its scalability, low power consumption, ultra-high speed, and high parallelism, making it crucial for AI, scientific computing, and large-scale data processing [2] Group 4: Future Projections - According to LightCounting's report, the global market for optical transceivers and related products is expected to exceed $23 billion by 2025, reflecting a significant 50% year-over-year growth [2] - The sales of Ethernet optical modules for data center interconnects are projected to reach $17 billion, a 60% increase compared to the previous year [2] - The introduction of the new GPU architecture "Huagang" by Moore Threads aims to enhance computing density by 50% and energy efficiency by ten times, supporting large-scale intelligent computing clusters [3]