业绩高增长的背后，是公司产品的高附加值与市场竞争力。作为高端测试仪器企业，联讯仪器的综合毛 利率持续保持高位，2022—2024年分别为43.61%、60.50%、63.63%，2025年1—9月为59.14%，显著高 于行业平均水平。同时，公司预计2025年度可实现营业收入11.5亿元至12亿元，同比增幅45.82%至 52.16%，扣除非经常性损益前后归属于母公司股东的净利润同比增幅分别为3.21%至17.44%和5.98%至 21.12%，未来增长预期明确。 市场地位的持续提升让公司在国产替代进程中占据主导地位。根据Frost&Sullivan数据，2024年公司在 中国光通信测试仪器市场份额排名第三，是排名前五中唯一的本土企业；在中国光电子器件测试设备市 场份额位列第一；在碳化硅功率器件测试设备市场以21.7%的份额位列国内第一，其中碳化硅功率器件 晶圆级老化系统市场份额高达43.6%。这些市场份额的背后，是公司产品性能与国际巨头的对标甚至超 越，以及下游客户对国产测试仪器的高度认可，也印证了公司在国产化替代中的核心作用。 公司的快速发展同样受益于下游应用领域的蓬勃需求。随着人工智能、新能源、半导体等 ...

Group 1: Industry Overview - The optical communication industry utilizes light waves for information transmission, with optical fibers as the medium, offering high speed, large capacity, and strong anti-interference capabilities [4][5] - Optical modules are core components of optical communication systems, facilitating the conversion of optical and electrical signals [4][5] - The demand for high-speed optical modules is driven by the rapid development of AI and the need for high-performance computing, leading to a significant reduction in the iteration cycle of optical modules from approximately 3-4 years to around 2 years since 2023 [5][6] Group 2: Market Trends - Data centers have become the primary application scenario for optical modules, accounting for over 60% of the total market [5] - The market for optical modules is expected to see a shift towards silicon photonics technology, with its market share projected to grow from 30% in 2025 to 60% by 2030 [5][6] - The global optical communication testing instrument market is anticipated to reach $950 million by 2024 and $1.33 billion by 2026, driven by the increasing demand for data communication [7][10] Group 3: Testing Instruments - Optical communication testing instruments play a crucial role in ensuring the reliability and performance of optical modules, which are subject to strict testing standards set by industry associations [6] - The testing process for optical modules includes various tests for both the transmitting and receiving ends, utilizing instruments such as sampling oscilloscopes, error analyzers, and wavelength meters [6] - As data transmission requirements continue to rise, the testing projects for optical modules are becoming more diverse and demanding, presenting both challenges and opportunities for the optical communication testing instrument industry [6][7] Group 4: Future Projections - The Chinese optical communication testing instrument market is projected to reach 3.3 billion yuan by 2024 and 6.59 billion yuan by 2029, reflecting sustained growth driven by demand from the optical module market [10][11] - The global optical communication testing instrument market is expected to expand significantly, with a forecasted market size of $1.33 billion by 2026 [7][9]