Core Insights - The company, Guangxun Technology, indicated that the domestic demand for 400G optical modules will dominate in 2025, while the share of 800G optical modules will be relatively small. However, the proportion of 800G optical modules is expected to increase next year [1] Group 1 - The primary focus for domestic demand in 2025 will be on 400G optical modules [1] - The share of 800G optical modules is currently low but is projected to rise in the upcoming year [1]

格隆汇9月3日丨光迅科技(002281.SZ)于近期投资者关系活动表示，公司光模块上半年需求同比增长较 多，下半年需求总体保持稳定。 ...

格隆汇9月3日丨光迅科技(002281.SZ)于近期投资者关系活动表示，2025年国内需求以400G光模块为 主，800G光模块占比较少，但明年国内800G光模块占比将增加。 ...

9月3日，天孚通信涨5.1%，截至发稿，报209.33元/股，成交94.78亿元，换手率6.09%，总市值1627.36 亿元。 招商安达灵活配置混合（217020）基金经理为王奇玮。 截至发稿，王奇玮累计任职时间8年249天，现任基金资产总规模12.2亿元，任职期间最佳基金回报 70.38%， 任职期间最差基金回报-10.4%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，苏州天孚光通信股份有限公司位于江苏省苏州市高新区长江路695号，成立日期2005年7月20 日，上市日期2015年2月17日，公司主营业务涉及光无源器件的研发设计、高精密制造与销售业务。主 营业务收入构成为：光通信元器件98.91%，其他1.09%。 从基金十大重仓股角度 数据显示，招商基金旗下1只基金重仓天孚通信。招商安达灵活配置混合（217020）二季度持有股数 2.56万股，占基金净值比例为2.6%，位居第九大重仓股。根据测算，今日浮盈赚取约26万元。 招商安达 ...

Group 1 - The A-share market saw a rebound in CPO concept stocks, with notable gains in several companies [1] - Changfei Fiber reached the daily limit increase, while Zhongji Xuchuang rose over 9% [1] - Other companies such as Shijia Photon, Guangku Technology, and Tiantong Co. also experienced significant increases, with gains exceeding 6% [1] Group 2 - Detailed stock performance includes: - Changfei Fiber (code: 601869) increased by 10% with a market cap of 69 billion and a year-to-date increase of 205.92% [2] - Zhongji Xuchuang (code: 300308) rose by 9.23% with a market cap of 466 billion and a year-to-date increase of 240.96% [2] - Shijia Photon (code: 688313) increased by 7.75% with a market cap of 39 billion and a year-to-date increase of 418.23% [2] - Guangku Technology (code: 300620) reported a 6.81% increase with a market cap of 26.7 billion and a year-to-date increase of 120.71% [2] - Tiantong Co. (code: 600330) saw a 6.04% increase with a market cap of 13.2 billion and a year-to-date increase of 51.29% [2]

9月3日下午，光模块CPO快速拉升走强。截至14:08，中际旭创、光库科技、长芯博创、联特科技、新 易盛等纷纷上攻，光模块CPO概念股权重占比超51%的创业板人工智能ETF华夏（159381）涨近2%。 招商证券表示，展望9月，市场保持震荡上行的概率仍然较大，但是斜率较8月可能会相对放缓。目前驱 动上行的关键力量来自于赚钱效应积累后，持续的增量资金流入所形成的正反馈，该机构预判的站上扭 亏阻力位形成增量资金正反馈的上涨推荐逻辑在反复验证。展望后市，市场将会继续沿着低渗透率赛道 展开，AI算力、半导体自主可控、固态电池、商业航天、可控核聚变、创新药仍然是目前的主战场。 创业板人工智能ETF华夏（159381）跟踪创业板人工智能指数（970070.CNI），精准布局AI产业链龙 头，聚焦高景气AI算力【光模块CPO权重占比超50%，其中前三大权重股为新易盛（20.3%）、中际旭 创（18.8%）、天孚通信（6.5%）】+AI中游软件+应用，高效地捕捉AI主题行情，目前该ETF场内综合 费率仅0.20%，位居同类最低。值得注意的是，今年以来，其跟踪的创业板人工智能年内累计上涨超 80%，显著跑赢CS人工智、科创AI ...

午后CPO概念持续回升，中际旭创涨超9%，续创历史新高，此前长飞光纤走出8天5板，长光华芯、光 库科技、仕佳光子、长芯博创涨幅靠前。消息面上，根据Lightcounting预测，全球以太网光模块市场规 模有望持续快速增长，2026年将同比增长35%至189亿美元，2027-2030年增速还将维持在双位数以上， 2030年有望突破350亿美元。 ...

Group 1 - The core viewpoint of the news is that LianTe Technology's stock has increased by 5.08%, reaching a price of 117.82 CNY per share, with a trading volume of 362 million CNY and a turnover rate of 4.70%, resulting in a total market capitalization of 15.286 billion CNY [1] - LianTe Technology, established on October 28, 2011, is located in the East Lake New Technology Development Zone of Wuhan and specializes in the research, production, and sales of optical communication transceiver modules, with 98.29% of its revenue coming from optical modules and 1.71% from material sales and leasing [1] Group 2 - Among the top ten circulating shareholders of LianTe Technology, a fund under Southern Fund has increased its holdings in the Southern CSI 1000 ETF (512100) by 94,300 shares in the second quarter, bringing its total holdings to 483,500 shares, which accounts for 0.71% of the circulating shares [2] - The Southern CSI 1000 ETF (512100) has a current scale of 64.953 billion CNY and has achieved a return of 24.03% this year, ranking 1748 out of 4222 in its category, with a one-year return of 62.92%, ranking 1228 out of 3783 [2]

Group 1: Company Insights - E Fund recently conducted research on seven listed companies, highlighting significant growth in revenue for Yuanjie Technology, particularly in the demand for 400G/800G optical modules, with expectations for substantial growth in the second half of 2025 [1] - Weisi Medical's lower limb exoskeleton device has been included in the medical insurance directory, and its electrical stimulation products are primarily used in obstetrics and gynecology departments [1] - Dekoli experienced rapid growth in computing power demand but faced challenges with capacity and supply chain resources, leading to insufficient order fulfillment [1] - Ningbo Jingda's performance was slightly impacted by international trade factors, but it saw a double-digit growth in orders in the second quarter, with a 70% increase in export orders after acquiring Wuxi Micro Research [2] - Xinmai Medical reported a revenue of 714 million yuan and a net profit of 315 million yuan, with overseas revenue growing over 95% [3] - Kehua Data achieved a revenue of 3.733 billion yuan, with a 0.06% year-on-year growth, and a 16.77% increase in data center business revenue [4] Group 2: Industry Trends - The demand for high-power CW light sources and high-speed EML technology is increasing, with companies focusing on core technology breakthroughs and maintaining high gross profit margins [1] - The integration of advanced technologies in manufacturing, such as high-frequency pipe-making and rolling machines, is being pursued to promote import substitution in the industry [2] - The development of new energy solutions, including 2000V450kW inverters, is being accelerated to serve various sectors, including state-owned enterprises [3] - The semiconductor industry is facing challenges with high R&D investments and increased financial costs, impacting profitability for companies like Dongxin [5]

Group 1: Yuanjie Technology - In the first half of 2025, the company experienced significant revenue growth in the data communication sector, particularly driven by the demand for 400G/800G optical modules, with a quarter-on-quarter upward trend expected to continue in the second half [1] - The company achieved core technological breakthroughs in high-power CW light sources and high-speed EML, with the US factory undergoing renovations and equipment procurement [1] - The company has pre-purchased equipment to ensure capacity expansion and will continue to invest in R&D to optimize processes and maintain a high gross margin [1] Group 2: Dekoli - In the first half of 2025, the company faced challenges due to rapid growth in computing power demand, leading to insufficient capacity and supply chain resources, resulting in inadequate order fulfillment [1] - The revenue share of data communication products increased to nearly 40%, while telecom business revenue declined by approximately 8% year-on-year [1] - A new factory is expected to come online in the second half of the year, with improved prospects anticipated, and the company is focusing on enhancing core competitiveness to address risks [1] Group 3: Kehua Data - In the first half of 2025, the company reported revenue of 3.733 billion yuan, a year-on-year increase of 0.06%, and a net profit attributable to shareholders of 244 million yuan, up 7.94% [2] - The data center business generated revenue of 1.398 billion yuan, reflecting a year-on-year growth of 16.77%, while revenue from smart energy and new energy businesses declined [2] - The company is focusing on "technological innovation" and "computing power layout," rapidly developing its intelligent computing center business and launching a new computing power service model [2]