转自：前瞻产业研究院 行业主要上市公司：立讯精密(002475.SZ)、中航光电(002179.SZ)、长盈精密(300115.8Z)、得润电子 (002055.SZ)、航天电器(002025.8Z)、意华股份(002897.SZ)等 本文核心数据：市场规模;产品结构;区域结构 1、定义及分类 光纤连接器是指光纤系统中能够实现光纤之间可拆卸(活动)连接的一种基础无源光器件，它把光纤的两个端 面精密对接起来，以使发射光纤输出的光能量能最大限度地耦合到接收光纤中去，并使由于其介入光链路而 对系统造成的影响减到最小，这是光纤连接器的基本要求。在一定程度上，光纤连接器影响了光传输系统的 可靠性和各项性能。常见的光纤连接器类型主要包括FC、SC、ST、LC、MPO/MTP等类型。 按市场规模计，目前光纤连接器细分产品结构中小方型光纤连接器占比较高，占据着近35%全球光纤连接器 市场份额。 2、2024年全球光纤连接器市场规模约55.6亿美元 在高容量数据传输和下一代通信网络的需求不断增长的推动下，2024年全球光纤连接器市场规模已攀升至 55.6亿美元，同比增长7.2%。 3、光纤连接器细分产品结构中小方型占比较高 4 ...

29 August 2025 | 8:01PM HKT China Weekly Kickstart A-shares rallied 3% while MSCI China lost 1%; We raised CSI300 index target; CPPCC National Committee is drafting the 15th Five-Year Plan CSI300 gained 2.7% on record volumes and outperformed MSCI China (-0.8%). We expect the liquidity-driven rally in A shares to extend and raise our CSI300 12-month index target to 4900. CPPCC National Committee held the 13th session to draft the country's 15th Five-Year Plan. The State Council issued opinions to deepen the ...

全光交换 (OCS) 交换机是一种在光域内直接进行光信号交换的设备，无需进行光 - 电 - 光转换。光学电路交换 (OCS) 是一种光网络技术，它允许 在光信号层面直接进行路由和切换，而无需将其转换为电信号。这种技术通过在光纤之间建立直接连接，实现数据的高速传输，避免了传统电子 交换机带来的瓶颈。 01 全光交换(OCS)交换机行业目前现状分析 多技术路线并行突破，MEMS与硅光成主流方向 AI算力驱动市场扩张，数据中心成核心场景 OCS市场呈现高速增长态势，主要受AI集群和高性能计算需求推动。谷歌TPU v5集群通过OCS构建3D环面拓扑，显著提升训练效率与集群可用 性，验证了OCS在低延迟、高带宽场景中的价值。数据中心短距互联成为主要应用领域，同时电信骨干网、工业控制等场景同步发展。尽管仍处 于商业化初期，OCS已被视为下一代智能网络的关键基础设施。 国际厂商主导市场，国内厂商加速技术突破 全球OCS市场呈现双轨竞争格局：Coherent、Google、Calient、Lumentum等国际厂商凭借技术积累占据主导地位，其产品在电信级长距场景中不 可替代。国内厂商则通过技术创新和产能提升快速崛起。 光交换 ...

智通财经APP获悉，中信证券发布研报称，AI数据中心使用OCS仍处在早期阶段，谷歌已实现产品落 地，大部分厂商仍在积极研发。该行认为OCS技术路线可行性高，优势明显，未来增长确定性较强，建 议对整机、核心器件、光学零部件等全产业链保持关注。按照产业链环节，该行梳理三条投资主线： 一、整机环节，建议关注具备核心网光通信设备业务的厂商以及OCS代工厂商。二、核心器件环节，建 议关注光学MEMS供应商和代工厂。三、光学零部件环节，建议关注我国光学部件供应商。 商业上一条重要规律是需求的变化决定产业的变化。网页时代的数据中心以南北向随机流量为主，云计 算时代以有序而随机的东西向流量为主，HPC和传统AI则是大算力、低延迟、局部互联，每一次需求的 变化都带来数据中心网络架构的巨变，大模型时代也不例外。AI大模型的网络需求与以往截然不同， 其特点是大范围全局性数据交换、数据流几乎完全可预测，因此势必要求新网络技术。 3)被动元件环节，OCS增加了光环行器、微透镜、分束器的使用。微透镜和分束器的OCS增量市场空间 合计不到5亿美元，光环行器的增量市场空间或可达到50亿美元。被动元件领域全球竞争格局相对分 散，不同厂商均有部 ...

Core Viewpoint - The optical splitter industry is experiencing significant growth driven by the increasing demand for high bandwidth and transmission rates in the context of emerging technologies such as 5G, IoT, and cloud computing. The market size in China is projected to reach 19 billion yuan in 2024, representing an 18.8% year-on-year increase [1][8]. Group 1: Industry Overview - Optical splitters, also known as splitters, are crucial passive devices in optical communication networks, responsible for dividing one optical signal into multiple signals or combining multiple signals into one [3][8]. - The optical splitter market is expected to grow due to the rising demand for high bandwidth and stable networks, particularly in FTTH applications [7][8]. Group 2: Industry Development - The optical splitter industry in China began in the 1990s, initially focusing on imitating and importing foreign technology. However, it has since evolved, with domestic companies increasing R&D investments and improving product performance [6][8]. - The market demand for optical splitters has surged since 2020, driven by the construction of 5G base stations and the growth of data centers [6][8]. Group 3: Industry Chain - The upstream of the optical splitter industry includes raw materials such as optical materials and precision manufacturing metals, which directly affect the performance and stability of optical splitters [6][8]. - The midstream involves the production and manufacturing of optical splitters, including chip design, manufacturing, packaging, and testing [6][8]. - The downstream consists of application fields such as telecommunications, data centers, and broadband network providers, which demand high performance and reliability from optical splitters [6][8]. Group 4: Competitive Landscape - The optical splitter market is competitive, with both domestic and international companies participating. Notable international players include JDSU, Finisar, and Nichia, while domestic companies like FiberHome and Shijia Photon are also gaining market share [8]. - Domestic companies are narrowing the technology gap with international firms through increased R&D and leveraging cost advantages [8]. Group 5: Future Trends - Technological innovation will continue to drive the performance enhancement of optical splitters, with new materials and advanced manufacturing techniques like nanotechnology and 3D printing expected to play significant roles [14][15]. - The application fields for optical splitters are expanding, particularly in 5G networks, IoT, smart transportation, and smart cities, which will further increase demand [14][15]. - The industry is likely to undergo consolidation, with larger companies acquiring smaller ones to enhance market share and competitiveness [15].

人民财讯8月27日电，中信证券指出，AI数据中心使用OCS仍处在早期阶段，谷歌已实现产品落地，大 部分厂商仍在积极研发。中信证券认为OCS技术路线可行性高，优势明显，未来增长确定性较强，建议 对整机、核心器件、光学零部件等全产业链保持关注。按照产业链环节，中信证券梳理出三条投资主 线：一、整机环节，建议关注具备核心网光通信设备业务的厂商以及OCS代工厂商。二、核心器件环 节，建议关注光学MEMS供应商和代工厂。三、光学零部件环节，建议关注我国光学部件供应商。 ...

中信证券研报表示，需求决定供给是商业世界重要规律，AI大模型与以往截然不同的需求带来产业链 变革机遇。使用OCS构建大型算力集群，在高带宽、低延迟、低成本方面都胜过传统IB、RoCE技术， 该技术路线长期来看有望成为AI基建的主流，从而带动光通信全产业链变革。整机环节建议关注OCS整 机厂商、代工厂商、OTN整机厂商；核心器件环节建议关注光学MEMS代工厂、LCoS生产商；光学零 部件领域建议关注光环行器、微环调制器等市场。 （文章来源：第一财经） ...

今日（8.20），沪指下探回升涨1.04%续创新高，半导体产业链强势爆发。同类规模领先的云计算ETF汇添富（159273）探底回升收涨0.27%！资金面上， 云计算ETF汇添富（159273）盘中净流入超2800万元，连续第5日强势"吸金"，累计净流入超1.7亿元！同类规模、流动性持续领先！ 截至收盘，云计算ETF汇添富（159273）标的指数成分股多数飘红：浪潮信息涨停，曙光信息涨超6%，紫光股份涨超5%，中科曙光涨超4%，星网锐捷、 拓维信息、云赛智联涨超2%。 | 序号 | म्हें से | 名称 | 涨跌幅 ▼ | 估算权重 | | --- | --- | --- | --- | --- | | 1 | 000977 | 浪潮信息 | 10.01% | 3.21% | | 2 | 872808 | 曙光数创 | 6.89% | 0.00% | | 3 | 000938 | 紫米股份 | 5.76% | 2.69% | | 4 | 603019 | 中科曙光 | 4.29% | 5.54% | | ਟੇ | 002396 | 星网锦捷 | 2.87% | 0.83% | | 6 | 002261 | ...

人民财讯8月18日电，剑桥科技（603083）8月18日晚间披露2025年半年报，公司上半年实现营业收入 20.35亿元，同比增长15.48%；归母净利润1.21亿元，同比增长51.12%；基本每股收益0.45元。公司拟每 10股派发现金红利0.452元(含税)。报告期内，公司业绩增长主要得益于高速光模块和电信宽带接入两大 核心业务的突出贡献。其中，高速光模块业务表现尤为亮眼。 ...

Group 1 - The core viewpoint is that China Star Network has entered a multi-site collaborative phase for low-orbit satellite launches, having completed 8 successful launches by August 13, 2025, covering multiple launch sites [1] - China Star Network has initiated a phased approach to satellite internet constellation construction starting in 2023, with a formal launch of low-orbit networking scheduled for December 2024, and has already launched 65 low-orbit satellites [1] - The domestic commercial aerospace industry chain is maturing in satellite manufacturing and launch capabilities, with a high-density launch schedule expected in the second half of the year [1] Group 2 - There is strong global demand in the optical communication and AI computing sectors, as evidenced by significant revenue growth in data center and communication markets reported by Lumentum and Coherent [1] - The AI technology is deeply empowering communication applications, driving the industry chain's upward development [1] - The Guotai AI ETF (159388) tracks the ChiNext AI Index (970070), which can fluctuate by up to 20% in a single day, reflecting the overall market performance of high-growth companies in the AI sector [1]