截至11月20日，天孚通信股东户数14.15万，较上期增加10.55%；人均流通股5481股，较上期减少 9.55%。2025年1月-9月，天孚通信实现营业收入39.18亿元，同比增长63.63%；归母净利润14.65亿元， 同比增长50.07%。 分红方面，天孚通信A股上市后累计派现21.72亿元。近三年，累计派现15.36亿元。 天孚通信今年以来股价涨148.73%，近5个交易日涨0.06%，近20日跌6.88%，近60日涨7.14%。 今年以来天孚通信已经4次登上龙虎榜，最近一次登上龙虎榜为9月4日，当日龙虎榜净买入7.99亿元； 买入总计22.85亿元 ，占总成交额比18.94%；卖出总计14.87亿元 ，占总成交额比12.32%。 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%。 天孚通信所属申万行业为：通信-通信设备-通信网络设备及器件。所属概念板块包括：英伟达概念、光 通信、百元股、CP ...

11月20日，天孚通信涨4.48%，成交额70.47亿元。两融数据显示，当日天孚通信获融资买入额9.59亿 元，融资偿还6.41亿元，融资净买入3.18亿元。截至11月20日，天孚通信融资融券余额合计47.59亿元。 分红方面，天孚通信A股上市后累计派现21.72亿元。近三年，累计派现15.36亿元。 融资方面，天孚通信当日融资买入9.59亿元。当前融资余额47.39亿元，占流通市值的3.81%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，天孚通信11月20日融券偿还2.14万股，融券卖出3.19万股，按当日收盘价计算，卖出金额 510.66万元；融券余量12.07万股，融券余额1932.87万元，超过近一年80%分位水平，处于高位。 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%。 截至11月10日，天孚通信股东户数12.80万，较上期减少13.36%；人均流通股6060股，较上期增加 ...

Core Viewpoint - Tianfu Communication's stock price has seen significant growth this year, with a year-to-date increase of 151.96%, indicating strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, Tianfu Communication reported a revenue of 3.918 billion yuan, representing a year-on-year growth of 63.63%. The net profit attributable to shareholders was 1.465 billion yuan, up 50.07% year-on-year [2]. - The company has distributed a total of 2.172 billion yuan in dividends since its A-share listing, with 1.536 billion yuan distributed over the past three years [3]. Stock Market Activity - As of November 12, Tianfu Communication's stock was trading at 162.26 yuan per share, with a market capitalization of 126.144 billion yuan. The stock experienced a net outflow of 147 million yuan in principal funds on that day [1]. - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on September 4, where it recorded a net purchase of 799 million yuan [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 13.36% to 128,000, while the average number of tradable shares per shareholder increased by 15.42% to 6,060 shares [2][4]. - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with some institutions reducing their holdings while new investors have entered [4].

Core Viewpoint - Tianfu Communication's stock has experienced significant fluctuations, with a year-to-date increase of 177.70% but a recent decline in the last few trading days [1] Company Overview - Tianfu Communication, established on July 20, 2005, and listed on February 17, 2015, specializes in the research, design, high-precision manufacturing, and sales of optical passive devices [1] - The company's main business revenue composition is 98.91% from optical communication components and 1.09% from other sources [1] Financial Performance - For the first half of 2025, Tianfu Communication achieved operating revenue of 2.456 billion yuan, representing a year-on-year growth of 57.84%, and a net profit attributable to shareholders of 899 million yuan, up 37.46% year-on-year [2] - Cumulatively, the company has distributed 2.172 billion yuan in dividends since its A-share listing, with 1.536 billion yuan distributed over the past three years [3] Shareholder Information - As of September 19, 2025, the number of shareholders increased by 25.13% to 137,800, while the average circulating shares per person decreased by 20.08% to 5,632 shares [2] - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 17.97 million shares, an increase of 8.39 million shares from the previous period [3]

Company Overview - Tianfu Communication, established on July 20, 2005, and listed on February 17, 2015, specializes in the research, design, precision manufacturing, and sales of optical passive devices, with 98.91% of its main business revenue coming from optical communication components [1][2] Stock Performance - As of September 17, Tianfu Communication's stock price was 174.69 CNY per share, with a market capitalization of 135.807 billion CNY. The stock has increased by 169.17% year-to-date, with a recent 0.13% decline over the last five trading days [1] - The stock has seen significant trading activity, with a total turnover of 18.90 billion CNY and a turnover rate of 1.37% on the same day [1] Financial Performance - For the first half of 2025, Tianfu Communication reported a revenue of 2.456 billion CNY, representing a year-on-year growth of 57.84%. The net profit attributable to shareholders was 899 million CNY, up 37.46% year-on-year [2] Shareholder Information - As of September 10, the number of shareholders increased to 110,100, with an average of 7,047 shares held per shareholder, a decrease of 1.98% from the previous period [2] - The company has distributed a total of 2.172 billion CNY in dividends since its A-share listing, with 1.536 billion CNY distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, major institutional shareholders include Hong Kong Central Clearing Limited, holding 17.97 million shares, and various ETFs such as E Fund's ChiNext ETF and Huatai-PB's CSI 300 ETF, all showing increases in their holdings compared to the previous period [3]

Core Viewpoint - The recent surge in A-share market, particularly in CPO concept stocks, has significantly benefited Tianfu Communication, controlled by the Zou family, with its stock price reaching a historical high and a substantial increase in market capitalization [1][8]. Company Overview - Tianfu Communication specializes in optical communication components and has evolved into a well-known global player in the industry, focusing on high-speed optical devices and advanced packaging services [6]. - The company was founded in 2005 by Zou Zhinong and partners, aiming to break the monopoly of Japanese companies in the zirconia ceramic sleeve market [2][3]. Financial Performance - In 2024, Tianfu Communication achieved a revenue of 32.52 billion yuan, marking a year-on-year increase of 67.74%, with a net profit of 13.44 billion yuan, up 84.07% [6]. - For the first half of 2025, the company reported revenues of 24.56 billion yuan, a 57.84% increase year-on-year, and a net profit of 8.99 billion yuan, growing by 37.46% [6]. - The production of optical communication components reached 210 million units in the first half of 2025, an increase of 38.38% compared to the previous year [6]. Stock Performance - Tianfu Communication's stock price saw a dramatic rise from 40.44 yuan per share in April 2025 to a peak of 225.05 yuan on September 1, 2025, representing a 362% increase [8]. - As of September 5, 2025, the stock closed at 186.8 yuan per share, reflecting a significant market capitalization of 145.2 billion yuan [1][8]. Ownership and Control - The Zou family indirectly holds 37.95% of Tianfu Communication's shares, with a market value increase of approximately 43.18 billion yuan over three months [1][8]. - Co-founder Zhu Guodong has reduced his stake in the company, selling 9.9 million shares, which decreased his ownership from 8.26% to 6.99% [8]. Market Position and Strategy - Tianfu Communication aims to be a leader in the optical communication sector, emphasizing research and development, with R&D expenses increasing significantly from 77.3 million yuan in 2020 to 126 million yuan in the first half of 2025 [6]. - The company has established strong ties with industry leaders like Nvidia, which has contributed to its stock price surge and market presence [7][8].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [4][5]. Core Viewpoints - The company is experiencing stable revenue and profit growth driven by increasing demand for high-speed optical devices, particularly in the context of global data center construction fueled by AI trends [2][4]. - The company has reported significant revenue growth, with a 57.84% year-on-year increase in revenue for the first half of 2025, reaching 2.456 billion yuan, and a 37.46% increase in net profit, amounting to 899 million yuan [2][4]. - The company is focused on continuous R&D investment to enhance product upgrades and innovations, with R&D expenses reaching 126 million yuan in the first half of 2025, a year-on-year increase of 11.97% [3][4]. Financial Summary - The company's projected financial performance shows a steady increase in revenue and net profit from 2025 to 2027, with net profit expected to reach 3.855 billion yuan by 2027 and EPS projected at 4.96 yuan [4][9]. - The company's revenue is expected to grow from 5.581 billion yuan in 2025 to 9.668 billion yuan in 2027, reflecting a compound annual growth rate (CAGR) of approximately 24.3% [4][9]. - The company's return on equity (ROE) is projected to remain strong, with estimates of 38.6% in 2025 and gradually decreasing to 32.0% by 2027 [4][9].

每经头条（nbdtoutiao）——租下2.5万亩"试验田"，兽医学博士在非洲种粮：首季亩产250斤，打算扩至 10万亩，月薪1~2万元招人 （记者 胡玲） 截至发稿，天孚通信市值为1006亿元。 每经AI快讯，天孚通信（SZ 300394，收盘价：129.35元）8月25日晚间发布公告称，公司第五届第八次 董事会会议于2025年8月22日以现场与通讯相结合的方式召开。会议审议了《关于公司2025年半年度报 告及摘要的议案》等文件。 2025年1至6月份，天孚通信的营业收入构成为：光通信元器件占比98.91%，其他业务占比1.09%。 ...

Core Viewpoint - The rapid development of global data center construction has benefited Tianfu Communication, leading to significant growth in revenue and net profit in 2024 [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 3.252 billion yuan, a year-on-year increase of approximately 67.74%, and a net profit attributable to shareholders of over 1.344 billion yuan, up about 84.07% [2][4]. - The company has experienced continuous growth in revenue and net profit for seven consecutive years from 2018 to 2024, with net profit growth exceeding 80% for two consecutive years in 2023 and 2024 [1][4]. - Operating cash flow for 2024 was 1.263 billion yuan, reflecting a year-on-year increase of about 39.99% [4]. Business Operations - The company specializes in the research, mass production, and sales of high-speed optical devices, positioning itself as a leading provider of optical device solutions and advanced packaging services [1][6]. - In 2024, the production and sales volume of optical communication components reached 332 million and 209 million units, respectively, representing year-on-year growth of 14.27% and 15.18% [3]. R&D and Technological Advancements - The company has significantly increased its R&D investment from 77 million yuan in 2020 to 232 million yuan in 2024, focusing on advanced materials and optical technologies [6]. - Tianfu Communication has established R&D centers in Suzhou, Shenzhen, and Japan, gathering top talent to innovate in optical device design and development [6]. Competitive Advantages - The company boasts industry-leading mass production capabilities, producing over 100 million products annually for global customers [7]. - Financially, the company maintains a healthy balance sheet with a debt-to-asset ratio of only 15.85% and cash reserves of 1.978 billion yuan as of the end of 2024 [7]. Dividend Policy - Since its listing in 2015, the company has distributed a total of 1.783 billion yuan in cash dividends, with an average dividend payout ratio of 47.05% [7].