Core Viewpoint - The article highlights the upcoming IPO of Hangdongguang Communication Technology (Shenzhen) Co., Ltd., emphasizing its focus on the passive optical device sector within the optical communication industry, particularly benefiting from the rapid growth in AI data centers and telecom networks [1] Group 1: Scarcity and High Growth Potential - Hangdongguang is positioned as an "invisible champion" in the optical communication niche, focusing on passive optical fiber wiring and related products, which include optical fiber connectors and passive interconnect devices [2] - The company has strategically avoided intense competition by concentrating on the optical fiber connection supply chain for AI data centers, meeting diverse interconnection needs across various applications [2] - The company’s innovative products, such as flexible optical fiber lines and silicon photonic passive interconnect devices, cater to high-precision applications, showcasing significant technological adaptability [7] - Long-term partnerships with major clients like AFL and Coherent demonstrate the company's scarcity and provide a solid foundation for sustained revenue growth [8] Group 2: Performance Growth and Financial Metrics - From 2022 to 2024, Hangdongguang's revenue is projected to grow from 475 million to 1.315 billion yuan, with a compound annual growth rate of 66.33%, while net profit is expected to rise from 52.2 million to 143 million yuan [9] - The data center segment contributes over 80% of the company's revenue, with a notable 116.97% year-on-year growth in passive interconnect device revenue expected in 2024 [12] - R&D investment has been a core focus, with expenditures increasing from 34.5 million yuan in 2022 to 52.6 million yuan in 2024, ensuring alignment with industry advancements [12] Group 3: Market Environment and Participation Dynamics - The demand for AI computing is driving the expansion of the optical communication sector, with predictions of a 146.48% increase in global AI application optical module sales in 2024 [15] - Hangdongguang's products are integral to AI data center infrastructure, supporting high-density interconnections and meeting industry standards [16] - The favorable IPO environment on the Beijing Stock Exchange, characterized by a cycle of high participation and reasonable valuation, enhances investor interest in Hangdongguang as a dual-focus investment in AI computing and optical communication [17]