Core Viewpoint - The company has successfully begun small-scale deliveries of its 800G optical modules and is planning to advance the development of its 1.5T optical modules based on market demand and technological progress [2] Group 1 - The company confirmed that the 800G optical module PCB is currently in the small-scale delivery phase [2] - Future advancements for the 1.5T optical module will depend on market demand and technological developments [2]

人民财讯9月17日电，崇达技术（002815）9月17日在互动平台回复称，公司800G光模块PCB目前正处 于小批量交付阶段。 ...

Group 1 - The company Chongda Technology (002815.SZ) is currently in the small batch delivery phase for its 800G optical module PCB [1] - Due to a commercial confidentiality agreement, the specific names of cooperating customers cannot be disclosed [1]

Market Activity - 39 stocks had a closing order amount exceeding 1 billion yuan on September 11, with the top five being Haiguang Information (7.23 billion yuan), Luxshare Precision (7.09 billion yuan), Zhongke Shuguang (6.26 billion yuan), Dongzhu Ecology (5.4 billion yuan), and Industrial Fulian (5.38 billion yuan) [2][2][2] - Haiguang Information achieved a "20cm" limit-up with a transaction volume of 159.97 billion yuan and a turnover rate of 3.34%. The company reported a revenue of 5.464 billion yuan for the first half of the year, a year-on-year increase of 45.21%, and a net profit of 1.202 billion yuan, up 40.78% year-on-year [2][2][2] CPO Sector - The CPO sector saw a surge in limit-up stocks, including Tengjing Technology, Jinxin Nuo, and Juguang Technology. Tengjing Technology's subsidiary has completed the production of several high-speed optical engine samples and is advancing customer validation [4][4] - Juguang Technology acquired a Swiss company with extensive experience in optical communication, focusing on micro-nano optical devices for data communication [4][4] Pork Industry - In the pork sector, Jin Xin Nong reported a sales volume of 108,000 pigs with a sales revenue of 12.1065 million yuan, while Tiankang Biological sold 263,800 pigs in August, a month-on-month increase of 18.03% and a year-on-year increase of 10.15% [6][6] - Tiankang Biological's cumulative sales for the first eight months of 2025 reached 2.0155 million pigs, an increase of 8.24% compared to the same period last year [6][6] Liquid Cooling Servers - The liquid cooling server segment includes companies like Cambridge Technology and Zhongke Shuguang, with Cambridge Technology investing in the development of 800G liquid cooling optical modules [7][8] - Zhongke Shuguang launched a silicon cube liquid cooling server that utilizes immersion liquid phase change cooling technology, achieving a global leading PUE of 1.04 [8][8] Institutional Investment - Eleven stocks on the龙虎榜 had net purchases exceeding 1 billion yuan, with Luxshare Precision, Wolong Nuclear Materials, and others seeing amounts over 200 million yuan [9][9] - Among stocks with institutional participation, Dongshan Precision and Beifang Changlong led in net purchases [9][9]

Group 1 - The company Chongda Technology (002815.SZ) is currently in the sample testing phase for its 800G optical module PCB, which requires multiple rounds of rigorous testing and certification, leading to a lengthy verification cycle [1] - Specific details regarding customers and project progress cannot be disclosed due to adherence to confidentiality agreements [1]

Core Viewpoint - Chongda Technology (002815) is currently in the sample testing phase for its 800G optical module PCB, which requires multiple rounds of testing and certification, indicating a lengthy verification process [1] Company Summary - The company has stated that specific customer and project progress cannot be disclosed due to adherence to commercial confidentiality agreements [1]

Group 1 - The company is currently in the customer sample testing phase for its 800G optical module PCB, which requires multiple rigorous testing certifications, leading to a lengthy verification cycle [1] - Due to confidentiality agreements, the company cannot disclose specific customers or project progress, but it is actively advancing related preparations [1]

Group 1 - The company, Chongda Technology, has demonstrated strong capabilities in high-layer PCB technology for AI servers and maintains good cooperation with international clients such as Amphenol [1][3] - The company focuses on the high-end market to enhance its core competitiveness [1] - Chongda Technology's AI server PCBs have passed NVIDIA's GB300 architecture certification, with flagship products like 70-layer high multilayer boards and 800G optical module PCBs breaking overseas monopolies, achieving a single board value 5-8 times that of traditional products [3] Group 2 - The company does not supply NVIDIA directly but instead supplies communication backplane PCBs indirectly through secondary suppliers like Amphenol, marking an important step towards becoming a leader in the PCB industry [3]

Core Insights - The global demand for AI computing power is experiencing unprecedented explosive growth, while the process of domestic substitution is accelerating [1] - The A-share market is witnessing significant development in three major technology sectors: computing power, CPO (Co-Packaged Optics), and PCB (Printed Circuit Board) [1] Group 1: Computing Power Infrastructure - Gansu Qingyang has successfully deployed a domestic 100,000-card intelligent computing cluster, utilizing a fully autonomous architecture and Ascend chips, marking a significant advancement in China's computing power infrastructure [1] - This achievement breaks international technological barriers and signifies a leap from "usable" to "optimal" computing power infrastructure [1] Group 2: CPO Technology - CPO technology integrates optical modules with chip packaging, significantly reducing signal transmission losses and greatly enhancing the energy efficiency and bandwidth of data centers and AI servers [1] - Morgan Stanley predicts that the CPO market will surge from $8 million in 2023 to $9.3 billion by 2030, with a staggering compound annual growth rate (CAGR) of 172% [3] Group 3: PCB Market - The PCB sector is also showing strong growth, driven by the rapid increase in AI inference demand, with applications in servers, switches, and optical modules [3] - Prismark forecasts that the AI server PCB market will achieve a CAGR of 32.5% from 2023 to 2028 [3] Group 4: Investment Opportunities - ZTE Corporation is actively pursuing a "computing power network" strategy, providing comprehensive ICT infrastructure solutions and has won multiple domestic intelligent computing center projects [4] - ZTE has collaborated with NVIDIA to develop a 51.2T CPO switch, setting a new industry record for single-chip bandwidth, which is already applied in Meta's data center [4] - Huada Technology, a leading AI server PCB supplier, has orders booked until 2026 and has made significant breakthroughs in 800G optical module PCB signal integrity [4] - Shengyi Technology, the second-largest copper-clad laminate manufacturer globally, holds over 20% market share in the high-frequency and high-speed CCL market and has achieved a 99.5% yield rate for 800G optical modules [5] - The company has also developed high thermal conductivity PCBs for liquid-cooled servers, successfully applied in the 100,000-card intelligent computing cluster in Qingyang [5] - The top potential stock, H3C, leads the domestic switch market and ranks among the top three globally in AI server shipments, having launched the 51.2T 800G CPO silicon optical switch [4][5]

Group 1 - Institutional trading saw 34 stocks listed, with 14 net purchases and 20 net sales [1] - The top three stocks with the highest institutional purchases were Zhongchao Holdings (115 million), Zhongke Magnetic (55.82 million), and Jinchengzi (37.81 million) [1] - Zhongchao Holdings announced that its subsidiaries won multiple power cable projects with a total bid amount of 1.061 billion, accounting for 19.29% of the company's audited revenue for 2024 [3] Group 2 - The PCB sector is experiencing strong performance, particularly among AI-related companies, with significant year-on-year revenue growth but slowing month-on-month momentum [3] - Key applications for products from Kexiang Co. include automotive electronics, new energy, and communication networks, with ongoing development of 800G optical module PCB products [3] - Yihua New Materials produces electronic circuit copper foil, which is a crucial material for PCB manufacturing [4] Group 3 - The first "Lithium Sulfide and Sulfide Solid-State Battery Forum" is scheduled for June 25 in Suzhou, highlighting the industry's focus on solid-state battery technology [5] - Nord Co. reported rapid mass adoption of its 4.5-micron lithium battery copper foil, with successful production of 3-micron copper foil and its application in solid-state batteries [6] - Xinyu Co. is accelerating the establishment of a solid-state battery laboratory and advancing the research of halide solid electrolyte materials [6]