新易盛-收发器需求趋势强劲，出货可见性改善；买入-Eoptolink (.SZ)_ Robust transceiver demand trend with better shipment visibility; Buy

13 August 2025 | 7:16AM CST Eoptolink (300502.SZ): Robust transceiver demand trend with better shipment visibility; Buy We are incrementally more positive on Eoptolink's shipment outlook as some of the tariff overhangs have been gradually removed, including 1) reciprocal tariffs on Thailand (where a major Eoptolink production plant is based) have been released and continued tariff exemptions on optical transceivers; 2) initial info on Section 232 tariffs on semiconductors appear to have limiteded impact on ...