ACCELINK(SZ:002281)2022-12-03 09:08Group 1: Performance Recovery - The recovery of Guangxun Technology's Q3 performance is attributed to several factors: first, the impact of the ZTE incident in the first half of the year led to a slowdown in domestic construction, causing many operators' bulk procurement orders to be delayed; second, traditionally, the second half of the year tends to perform better than the first half for component suppliers; third, there is an increasing demand from overseas customers, positively impacting the company's performance [2][3]. Group 2: Supply Chain Risks - The US-China trade war poses certain risks to the acquisition of core materials. Suppliers of optical chips from Japan, South Korea, and Europe present lower risks, while the main suppliers of supporting electronic chips are located in North America, which carries relatively higher risks. The company is increasing its investment in optical chip R&D to mitigate these risks [3]. Group 3: 5G Construction Insights - The 5G construction by domestic operators is driven by policy, leading to cautious investment. It is predicted that the scale of investment in 5G construction will be 1.2 to 1.4 times that of 4G, with a construction period of approximately 7 years, peaking after 2021. The company aims to capture market share in the 5G sector [3][4].