天孚通信（300394.SZ）11月21日在投资者互动平台表示，公司定位为光器件整体解决方案提供商和光 电先进封装制造服务商，光模块厂商是公司的主要客户，公司并不直接销售给终端用户。公司主要收入 来源地请查阅公司定期报告中第三节相关信息。公司不同产品线为客户不同速率的产品提供配套，目前 主要以给400G、800G、1.6T速率产品配套为主。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：1.请问，未来公司产品在中东地区、欧洲国家是否有销 售渠道或计划？ 2. 公司目前主要产品是400G还是800G光模块及相关配件？1.6T、3.2T进展怎样？ ...

Group 1 - The Ministry of Industry and Information Technology has issued the "Guidelines for the Construction of High-Standard Digital Parks," aiming to establish around 200 high-standard digital parks by 2027 [1] - The guidelines emphasize the need to enhance digital infrastructure, upgrade network facilities, and promote the construction and evolution of 5G-A and 10G optical networks [1] - The report highlights the importance of optimizing computing power infrastructure and improving the efficiency of computing resource utilization [1] Group 2 - CITIC Securities notes increased volatility in the computing power sector, suggesting that the current adjustments present investment opportunities due to sustained demand driven by AI [1] - The average increase in computing power concept stocks has been 48.11% this year, with 19 stocks, including Shijia Photon and Zhongji Xuchuang, seeing price increases exceeding 100% [1] Group 3 - Shijia Photon has seen a cumulative stock price increase of 387.68% this year, with its 400G and 800G optical chips becoming core revenue contributors [2] - The demand for high-bandwidth products is expected to continue growing, supporting long-term performance growth for companies in the sector [2] - 17 computing power concept stocks received significant QFII holdings, with several stocks, including Chuling Information and Wanzhong Optoelectronics, having QFII holdings exceeding 1% [2] Group 4 - Chuling Information has been investigated by 15 institutions, showcasing its AI operation capabilities and future adaptability to AI computing needs [3] - Other QFII-heavy concept stocks, such as Taicheng Light and Haowei Group, are projected to see significant net profit growth in 2025, with expected increases of 64.92% and 33.5%, respectively [3]

Group 1: Policy and Market Outlook - The Ministry of Industry and Information Technology issued the "Guidelines for High-Standard Digital Park Construction," aiming to enhance digital infrastructure and optimize computing power resources by 2027, with a target of establishing around 200 high-standard digital parks [1] - The policy shift from "construction" to "optimization and application" indicates future investment opportunities will focus on improving computing efficiency and enabling diverse computing applications, rather than just hardware deployment [1] - The current market analysis suggests that despite recent fluctuations in the computing power sector, major institutions view this as a strategic opportunity for future investments, driven by sustained AI demand [2] Group 2: Market Performance and Investment Trends - The computing power sector has seen an average stock price increase of 49.66% this year, with 21 stocks, including Shijia Photon and New Yisheng, experiencing over 100% growth [3] - Shijia Photon, the top performer, has seen a 391.04% increase in stock price, attributed to its successful application of 400G and 800G optical chips in major markets [3] - Foreign institutional investors have heavily invested in 17 computing power stocks, indicating strong confidence in the sector's future, with companies like Jianqiao Technology and Sanwang Communication receiving significant attention from both foreign and domestic research institutions [4]

Group 1: Stock Performance and Market Reactions - *ST Zhengping's stock price increased by 221.93% from September 1, 2025, to November 18, 2025, leading to a significant deviation from its fundamentals, prompting the company to conduct a trading review [1] - The stock will be suspended from trading starting November 19, 2025, with a maximum suspension period of 10 trading days [1] - The company has experienced 26 trading halts during the specified period due to abnormal stock price fluctuations [1] Group 2: Government Initiatives and Industry Outlook - The Ministry of Industry and Information Technology released the "High-Standard Digital Park Construction Guidelines," aiming to enhance digital infrastructure and promote the development of high-standard digital parks by 2027 [2] - The guidelines target the establishment of around 200 high-standard digital parks, ensuring comprehensive digital transformation of industrial enterprises within these parks [2] - The current AI-driven demand for computing power is expected to provide long-term support for the industry, despite recent market adjustments [2] Group 3: Performance of Computing Power Stocks - Computing power concept stocks have seen an average price increase of 49.66% this year, with 21 stocks rising over 100% [3] - Shijia Photon leads with a 391.04% increase in stock price, driven by the demand for high-bandwidth products in data centers [3] - 17 computing power stocks have received significant foreign investment, with several stocks having over 1% QFII holding ratio as of the end of Q3 [3] Group 4: Company Developments and Innovations - Sanwang Communication has been actively engaging with 38 institutions this month, showcasing its domestically produced industrial communication equipment tailored for the petrochemical industry [4] - The company has successfully passed testing requirements for its products, which are based on domestic chip technology and aim to achieve full compatibility across the supply chain [4]

Group 1 - The Ministry of Industry and Information Technology issued the "Guidelines for High-Standard Digital Park Construction," aiming to enhance digital infrastructure and optimize computing power resources by 2027 [3] - The goal is to establish around 200 high-standard digital parks, achieving full coverage of digital transformation for industrial enterprises and significantly improving management and service levels [3] - The computing power sector has seen increased volatility, but the demand driven by AI remains strong, presenting opportunities for investment [3] Group 2 - The average stock price of computing power concept stocks has risen by 49.66% this year, with 21 stocks increasing over 100% [6] - Shijia Photon leads with a 391.04% increase, driven by the demand for high-bandwidth products in data center construction [6] - 17 computing power concept stocks have received significant foreign investment, with several stocks having QFII holdings exceeding 1% [6][8] Group 3 - Sanwang Communication has been actively engaging with institutions, showcasing its domestically produced industrial communication equipment and achieving compatibility across the entire supply chain [7] - The company has passed testing requirements for its products in the power grid sector, indicating a successful transition to domestic alternatives [7]

（文章来源：证券日报） 证券日报网讯兆龙互连11月13日发布公告，在公司回答调研者提问时表示，公司始终紧跟行业发展趋势 和客户需求，持续推进技术迭代与产品升级，不断提升自主研发实力，以稳固行业技术先进水平。公司 单通道224G高速铜缆及连接产品进展顺利，也在进一步优化中；同时，公司正在推进单通道448G高速 产品的研发工作。此外，公司正积极推进400G、800G AEC连接产品与国内客户的验证工作。 ...

南财智讯11月13日电，兆龙互连在投资者关系活动中表示，公司紧跟行业趋势和客户需求，持续推进技 术迭代与产品升级。单通道224G高速铜缆及连接产品进展顺利并持续优化，同时正在推进单通道448G 高速产品的研发工作。此外，公司正积极推进400G、800GAEC连接产品与国内客户的验证工作，以巩 固在高速互连领域的技术领先地位。 ...

证券代码：300913 证券简称：兆龙互连 浙江兆龙互连科技股份有限公司 投资者关系活动记录表 编号：2025-004 2 | 附件清单（如有） | 无 | | | | | | --- | --- | --- | --- | --- | --- | | 日期 | 2025 | 年 | 11 | 月 12 | 日 | 3 | | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | 现场参观 □其他 | | | 华泰证券：唐攀尧 | | 参会人员 | 招商证券：李哲瀚 陈云鹏 | | | 民生加银基金：郭丰睿 | | 时间 | 2025 年 11 月 12 日 14:00-16:00 | | 地点 | 现场会议 | | 上市公司接待人 | 副总经理兼董事会秘书姚云萍女士、证券事务代表沈圆月女士 | | 员姓名 | | | | 1、公司产品线的收入结构和增长预期如何？ | | | 答：公司 2025 年三季度收入结构中支持万兆数据传输的 6A | | | 及以上数据线缆及布线产品、专用电缆和连接产品 ...

Core Viewpoint - Zhongji Xuchuang, a leading provider of optical module solutions in China, is planning to raise at least $3 billion (HKD 234 billion) through a potential listing in Hong Kong [1] Group 1: Company Plans - The company is in the process of selecting investment banks for its Hong Kong listing, collaborating with firms such as CICC, GF Securities, Goldman Sachs, and Morgan Stanley [1] - Zhongji Xuchuang's board has authorized management to initiate preparations for the H-share listing, with a timeframe of 12 months from the board's approval [1] - Specific details regarding the issuance scale and listing timeline are still in preliminary stages and may change [1] Group 2: Industry Position - Zhongji Xuchuang is recognized globally as a major supplier of optical modules, providing high-end optical communication transceiver modules [1] - The company offers high-speed optical modules such as 400G, 800G, and 1.6T for cloud data center clients, as well as optical modules for 5G transmission and core network applications [1] - It maintains a leading position in terms of shipment volume and market share within the industry [1]

Core Viewpoint - Zhongji Xuchuang, a leading provider of optical module solutions in China, is planning to raise at least $3 billion (HKD 234 billion) through a Hong Kong IPO, currently in the early stages of collaboration with investment banks [1] Group 1: IPO Plans - The company is in discussions with several investment banks, including CICC, GF Securities, Goldman Sachs, and Morgan Stanley, regarding the potential listing [1] - The details regarding the issuance scale and listing timeline are still preliminary and may change [1] - The board of directors has authorized the management to initiate preparatory work for the H-share listing, with a timeframe of 12 months from the board's approval [1] Group 2: Company Overview - Zhongji Xuchuang is recognized globally as a major supplier of optical modules, integrating R&D, design, packaging, testing, and sales [1] - The company provides high-speed optical modules such as 400G, 800G, and 1.6T for cloud data center clients, as well as optical modules for telecom equipment manufacturers related to 5G transmission [1] - It maintains a leading position in terms of shipment volume and market share within the industry [1]