We recently published 10 Stocks Withstanding Market Turbulence. Lumentum Holdings Inc. (NASDAQ:LITE) was one of the best performers on Thursday. Lumentum extended its winning streak to a 5th consecutive day on Thursday, hitting a new all-time high as investors digested its strong earnings performance in the second quarter of fiscal year 2026. At intra-day trading, the stock surged to its highest price of $507.55 before paring gains to finish the session just up by 8.35 percent at $504.42 apiece. In an ...

格隆汇2月4日丨君逸数码(301172.SZ)：在投资者关系中表示，有被问到：光宏目前在光通信相关业务 的布局情况如何？ 答：光宏精密在光通信相关业务的布局，主要围绕核心光学产品展开，重点研发适配光通信场景的微透 镜阵列、高精度光学组件等，可用于光模块、光传输设备的信号准直与调控环节。目前相关产品处于技 术优化与小批量场景适配阶段，与公司数据通信业务形成协同支撑。 ...

Lumentum (NasdaqGS:LITE) Q2 2026 Earnings call February 03, 2026 05:00 PM ET Company ParticipantsGeorge Notter - Managing Director of Equity ResearchKathy Ta - VP of Investor RelationsMichael Hurlston - President and CEORuben Roy - Managing Director of Equity ResearchSimon Leopold - Managing DirectorVijay Rakesh - Managing DirectorWajid Ali - EVP and CFOWupen Yuen - President, Global Business UnitsConference Call ParticipantsPapa Sylla - VP and Equity Research AnalystRyan Koontz - Managing Director and Equi ...

该模型可以运用于光学产业链的关键环节。 随着人工智能的不断发展，科研和产业界对垂直领域的大模型提出更高需求。 1月25日下午，上海交通大学正式发布光学领域垂直大语言模型——Optics GPT（光学大模型），标志着我国在人工智能与硬科技交叉融合领域取得重要突 破。 金叶子/摄 该模型如同一位"虚拟光学专家"，能够深度理解光学原理，为科研、设计与教学提供智能化支持。 当前，通用人工智能模型虽功能强大，却难以深入理解如光学等需要深厚专业知识与精密计算的硬科技领域。上海交通大学"光生未来"项目组打造的这 款"光学原生"的专业模型，并非简单改造通用模型，而是从光学专业数据中"成长"而来，系统学习了光通信、光学设计等领域的核心知识与设计逻辑。 作为完全自研的国产模型，光学大模型具备鲜明的"四大特点"：轻部署、高认知、强应用、全可控。 该模型应用前景包括赋能教学、科研、与产业。比如在教学方面，模型能够将抽象的光学理论与复杂公式转化为直观的可视化演示与互动问答，并可自动生 成丰富的教学案例与虚拟实验，从而变革传统教学模式，显著提升教学效率与学习体验。 在基础研究与前沿探索中，该模型可作为全天候的智能研究助手，帮助科研人员快 ...

Core Insights - Guide Outdoor introduces the TU1260MS multispectral riflescope with ApexVision technology, setting a new standard for ultra-clear imaging in hunting conditions, especially in low light and complex terrains [1][2] Group 1: Product Features - The TU1260MS is optimized based on extensive field tests and feedback from hunters, making it a powerful optical device for hunting [2] - It features a dual sensor with a resolution of 1280 × 1024 pixels and a CMOS sensor with a resolution of 1920 × 1080 pixels, providing seamless observation from dawn to midnight [3] - ApexVision enhances image clarity through next-generation detectors, processing platforms, and AI-optimized algorithms, significantly improving detail reproduction and long-range accuracy [4] Group 2: Precision and Usability - The TU1260MS is designed for precise shooting, equipped with a built-in laser rangefinder for accurate distance measurement up to 1500 meters, and integrates with the TargetIR Ballistics App for professional support [5] - The device's thermal and visible light functions allow hunting at any time of day and under all weather conditions, making it adaptable to various terrains [6] Group 3: Market Positioning - Guide Outdoor aims to push the boundaries of thermal imaging technology for modern hunting, inviting users to experience the enhanced clarity, precision, and stability of the TU1260MS [7]

Core Viewpoint - The company, Dongguan Yutong Optical Technology Co., Ltd., has announced a voluntary performance forecast for the year 2025, indicating an expected increase in revenue due to growth in various business segments [2][3]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [1]. - The forecast is based on preliminary calculations by the company's finance department and has not been audited by an external accounting firm [2][4]. Group 2: Reasons for Performance Change - The expected increase in performance is primarily attributed to a rise in business volume from traditional security lenses, automotive lenses, glass aspheric lenses, optical components for automobiles, and new consumer sectors [3]. - The company anticipates growth in operating revenue, continuous improvement in product structure, expansion of application fields, and an increase in overall gross profit margin [3]. Group 3: Communication with Auditors - The company has communicated with the accounting firm responsible for the annual report audit regarding the performance forecast, and there are no significant discrepancies between the company and the auditors on this matter [2].

Core Insights - Hunan Province is experiencing a rise in technological innovation, with significant growth in R&D investment and the number of high-tech enterprises, indicating a strong shift towards a knowledge-based economy [1][18]. Group 1: R&D and Innovation Growth - Since the start of the 14th Five-Year Plan, Hunan's total R&D investment has grown at an annual rate of 11.61%, reaching 139.46 billion yuan [1]. - The number of high-tech enterprises in Hunan has surpassed 17,500, doubling in size [1]. - Hunan's regional innovation capability ranking has improved from 12th to 9th in the nation [1]. Group 2: Financial Support for Tech Enterprises - Hunan Bank provided a comprehensive "financing + intelligence" service to Baolisi Biotechnology Co., which faced significant funding challenges for its new production line project [5][6]. - The bank's tailored financial solutions were based on an in-depth understanding of the company's technology and market needs, demonstrating a shift towards supporting innovation-driven companies [6][11]. - Chichip Semiconductor faced typical financing difficulties due to high R&D costs and lack of collateral, prompting a re-evaluation of credit assessment models by banks [7][10]. Group 3: Long-term Partnerships and Support - Hunan Huya Optical Technology Co. established a trusting relationship with Postal Savings Bank, which provided a 3 million yuan credit loan and later a 13.8 million yuan loan, significantly boosting the company's operational capacity [12][13]. - The partnership with Changsha Rural Commercial Bank has supported Liyu Group's growth through a four-phase service plan, enhancing the company's capabilities and financial stability over seven years [14][17]. - Liyu Group's asset scale increased by 285%, revenue by 589%, and workforce by 294%, showcasing the effectiveness of long-term financial support [17].

Summary of Key Points from the Conference Call Industry Overview - Focus on the Asia technology (hardware) sector, particularly the AI supply chain, as a priority investment area for 1H26 due to its significant influence on earnings growth amid concerns over smartphone/PC demand and auto production recovery [2][12] Core Themes and Stock Recommendations 1. **AI Supply Chain Investment**: - Emphasis on investing in the AI supply chain, which is expected to drive earnings growth despite potential slowdowns in other sectors [2][12] - Anticipation of clearer benefits from AI for earnings in 2026, with no signs of slowdown heading into 2027 [12] 2. **Under-the-Radar AI Themes**: - Five notable themes identified: 1. **Power Consumption**: Opportunities in power supply, power rack products, capacitors, and power semiconductors. Companies to watch include Delta Electronics, Panasonic HD, Murata Mfg., Taiyo Yuden, and Renesas Electronics [6][25] 2. **Data Transmission**: Advancements in large-scale data transmission technologies, with companies like Fujikura and Mitsubishi Electric highlighted [6][25] 3. **Niche Components**: Price stabilization and increases in demand for components like MLCCs and substrates, with key players including Murata Mfg. and SEMCO [6][25] 4. **Physical AI Integration**: Companies like Hitachi and Mitsubishi Electric are leading in embedding AI into industrial applications [6][27] 5. **Software/Services Disruption**: Generative AI's potential to improve productivity in Japan's software industry, with Fujitsu and NEC as key players [6][27] 3. **High-Profile Sub-Sectors**: - Continued growth in foundry, memory, semiconductor production equipment, AI servers, and edge AI, with recommended stocks including TSMC, Samsung Electronics, and Hon Hai [30][31] Market Dynamics and Risks - **Top-Down Risks**: - Concerns regarding valuations, implementation risks, over-investment, monetization challenges, and funding sources, particularly with emerging players in the market [13] - **Bottom-Up Perspective**: - Fundamentals differ from the IT bubble of 2000, with a larger scale and longer timeline for AI infrastructure development, and sound supply chain management in Asian hardware [14][16] Technological Advancements - **Power Consumption Trends**: - Significant rise in power consumption for AI servers, with expectations for voltage increases to 800V and beyond, creating business opportunities for power-related products [33][38] - **Data Transmission Innovations**: - Transition to higher communication speeds (800-1.6Tbps) and co-packaged optics (CPO) expected to enhance industry value [58][59] Conclusion - The Asia technology sector, particularly the AI supply chain, presents substantial investment opportunities driven by technological advancements and evolving market dynamics. Key players and themes are positioned to benefit from these trends, while investors should remain cautious of potential risks associated with rapid market changes.

Core Viewpoint - Sunny Optical Technology announced it will no longer release voluntary monthly shipment announcements due to their inability to reflect the company's actual operational status, while providing detailed shipment data for December 2025 and the entire year of 2025 as key reference information for the market [2]. Shipment Data Summary December 2025 Optical Parts Shipment - Glass spherical lenses showed strong performance with a shipment of 3,532 thousand units, reflecting a month-on-month increase of 39.3% and a year-on-year increase of 140.4% [3]. - Mobile phone lenses shipped 95,592 thousand units, experiencing a month-on-month decline of 20% and a year-on-year decline of 8.9%, primarily due to client inventory management at year-end [3]. - Automotive lenses had a shipment of 7,477 thousand units, with a year-on-year increase of 17.7%, while month-on-month it decreased by 40.8% due to the impact of the Christmas holiday [3]. - Other lenses shipped 10,446 thousand units, showing a slight month-on-month decrease of 1.9% and a year-on-year increase of 1.6% [3]. December 2025 Optoelectronic Products Shipment - Mobile camera modules shipped 37,744 thousand units, with a month-on-month decrease of 9% and a year-on-year decrease of 29.3%, attributed to a high base from the previous year [4]. - Other optoelectronic products had a shipment of 5,477 thousand units, reflecting a month-on-month decline of 15.9% and a year-on-year decline of 10.9% [4]. December 2025 Optical Instruments Shipment - Microscopes shipped 23,678 units, with a month-on-month decrease of 1.8% and a year-on-year decrease of 34.3% [5]. Full Year 2025 Shipment Data - For the full year 2025, glass spherical lenses had a total shipment of 29,592 thousand units [6]. - Mobile lenses emerged as a core product with a total shipment of 1,262,249 thousand units [6]. - Automotive lenses shipped 130,186 thousand units, while other lenses totaled 121,759 thousand units [6]. - In the optoelectronic product category, mobile camera modules had a total shipment of 485,845 thousand units, and other optoelectronic products reached 56,754 thousand units [6]. - Microscopes had a total shipment of 235,587 units for the year [6].

Core Insights - Appotronics is showcasing its innovative laser technology at CES 2026, focusing on the next generation of augmented reality (AR) through its new optical engines, the Dragonfly G1 Mini and Dragonfly C1 [1][4]. Product Innovations - The Dragonfly G1 Mini is a compact optical engine measuring just 0.2cc, smaller than its predecessor, the Dragonfly G1, which is 0.35cc, while achieving a high contrast ratio of 1000:1 [2]. - The Dragonfly C1, at 0.4cc, is the world's first RGB dual-split LCoS optical engine, enabling full-color binocular AR display from a single module [2]. Design and Manufacturing Benefits - The singular-engine binocular design reduces system volume, weight, and complexity, leading to lower production costs and reduced power consumption for manufacturers [3]. - This design allows for greater design freedom, enabling the creation of sleeker and smarter AR glasses [3]. Market Vision and Wearability - Appotronics aims to make AR glasses all-day wearable, targeting a weight of under 30 grams, comparable to ordinary eyeglasses [4]. - The Sharge Loomos AI Display Glasses S1, equipped with the Dragonfly G1 Mini, weighs just 29 grams, significantly lighter than other smart glasses like the Meta Ray-Ban, which weighs 69 grams [4]. Broader Applications of Laser Technology - Beyond AR, Appotronics is also demonstrating its laser technology in personal wellness, including hair regrowth and skin rejuvenation devices [5]. - The company's subsidiary, Formovie, is showcasing advancements in ALPD® laser technology for home entertainment [5][6].