证券代码：688167 证券简称：炬光科技 公告编号：2026-012 西安炬光科技股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 股东持有的基本情况 本次减持计划实施前，宋涛持有西安炬光科技股份有限公司（以下简称"公 司"）股份 94,477 股，占公司总股本的 0.1051%；田野持有公司股份 76,700 股（其 中股权激励归属 3,200 股），占公司总股本的 0.0854%。上述股份除特殊说明来源 外，其余均为在公司首次公开发行前取得的股份，已于 2024 年 12 月 24 日解除 限售并上市流通。 减持计划的实施结果情况 2025 年 12 月 20 日，公司披露了《西安炬光科技股份有限公司股东减持股 份计划公告》（公告编号：2025-094），宋涛拟通过集中竞价交易、大宗交易方 式合计减持不超过 94,477 股，即合计不超过公司总股本的 0.1051%；田野拟通过 集中竞价交易方式减持不超过 19,175 股，即不超过公司总股本的 0.021 ...

Core Insights - The global LiDAR market is projected to reach 51.2 billion yuan by 2024, doubling from previous years [4] - The supply of LiDAR is expected to increase significantly, with shipments forecasted to reach approximately 6.6 million units in 2025 and 79.34 million units by 2030 [6] - The primary application of LiDAR technology is in laser scanning, which accounts for 46% of the market [8] - The Asia-Pacific region is anticipated to hold the largest market share in LiDAR, accounting for 36.14% by 2024 [10] Industry Overview - LiDAR, short for Light Detection and Ranging, is an advanced sensing technology that combines laser and modern photodetection techniques [1] - LiDAR can be categorized into three types: mechanical, hybrid solid-state, and solid-state, with solid-state LiDAR gaining popularity due to its compact size [1] Market Dynamics - The global LiDAR market is experiencing steady growth, with a significant increase in demand across various sectors, including autonomous vehicles, industrial applications, drones, and robotics [8] - The downstream applications of LiDAR are primarily divided into surveying and navigation, with high-precision mapping and terrain surveying being key components [8]

Summary of the Conference Call on AI Annual Report Analysis Industry Overview - The conference focused on the analysis and outlook of AI annual reports, particularly in the TMT (Technology, Media, and Telecommunications) sector, with a specific emphasis on domestic and international AI companies [1][2][4]. Key Points and Arguments General Market Sentiment - The period from October 31 to March is characterized as a performance vacuum, where the focus is on thematic investments rather than immediate earnings results [2][3]. - The spring market is expected to see a resurgence, with significant activity anticipated around March [3][4]. North American Companies - North American companies, particularly those involved in AI and cloud computing, have reported earnings that exceeded expectations, indicating strong capital expenditure in AI [4][6]. - Companies like Microsoft and Meta have shown robust spending on AI infrastructure, reflecting a positive outlook for the sector [4][6]. - Despite some domestic companies underperforming, their stock prices have rebounded, suggesting that market sentiment is more focused on thematic trends rather than immediate earnings [5][6]. Domestic AI Companies - Domestic AI companies are experiencing a supply-demand imbalance, with strong demand for AI-related products and services, despite some companies reporting earnings below expectations [6][7]. - The industry is characterized by a shortage of materials and components, which is driving prices up and creating a favorable environment for growth [6][7][10]. Future Growth Projections - There is a consensus that the growth trajectory for AI companies will continue to be strong, with expectations for significant growth in 2026 and beyond [8][9]. - Many companies are currently undervalued, trading at price-to-earnings (P/E) ratios between 15x to 20x, which presents a potential investment opportunity [8][9]. Specific Company Insights - Companies like Wan, Tianfu Communication, and others are highlighted for their potential despite recent earnings misses, as the overall industry outlook remains positive [4][6][7]. - The demand for GPUs and AI chips is expected to remain high, with domestic companies like Cambrian facing challenges but still showing potential for recovery [9][10]. Application and Innovation - The conference emphasized the importance of AI applications, particularly in gaming and media, with companies like Tencent and ByteDance leading the charge [14][15]. - The emergence of AI-driven applications is seen as a significant growth area, with expectations for increased investment and innovation in this space [14][15]. Regulatory and Market Concerns - There are concerns regarding potential regulatory impacts on the gaming industry, but these are largely viewed as unfounded and not likely to affect the overall market significantly [15][16]. - The market is currently experiencing volatility, but analysts suggest that this presents buying opportunities for fundamentally strong companies [21][22]. Additional Important Insights - The conference highlighted the importance of monitoring capital expenditure trends among major tech companies, as this will influence the demand for AI infrastructure and services [36][37]. - The potential for new technologies, such as diamond-based cooling materials for semiconductors, was discussed as a future growth area [24][25]. - Analysts recommend focusing on companies with strong fundamentals and growth potential, particularly in the AI and semiconductor sectors, as the market continues to evolve [22][23][39].

Summary of Key Points from the Conference Call Industry Focus - The conference call emphasizes the **silicon photonics** industry and **CPO (Co-Packaged Optics)** technology Core Recommendations - The call highlights four key recommended companies in the **silicon photonics light engine and CW (Continuous Wave)** segment: - **Zhongji Xuchuang** - **Xinyi Technology** - **Yuanjie Technology** - **Tianfu Communication** [1] - Additionally, four beneficiary companies in the **silicon photonics equipment and optical interconnection** sector are mentioned: - **Robotek** - **Zhishang Technology** - **Juguang Technology** - **Jieput** [1] Additional Insights - The call underscores the importance of the **"Four Key Points"** and **"Four Little Dragons"** combination strategy for investment in the silicon photonics sector [1]

Summary of Key Points from Conference Call Records Industry Overview - The records pertain to the **electronic industry**, specifically focusing on **CPO (Chip-on-Board)**, **PCB (Printed Circuit Board)**, and **storage sectors**. Core Insights and Arguments - **CPO Developments**: AYZ has updated the RubinUltra CPO Scale-up plan, resulting in significant stock price increases for several companies: - 罗博特科 (Robotech) +20% - 炬光科技 (Juguang Technology) +18.06% - 致尚科技 (Zhishang Technology) +15.56% - 天孚通信 (Tianfu Communication) +13.21% [1] - **PCB Orders**: 威尔高 (Weilgao) has secured a primary power order from Google, with a secondary power connection in progress, leading to a stock increase of +18.23% [1]. - **Domestic Computing Power**: There is a notable divergence in the market for GPUs and ASICs, with changes in the trading landscape for computing power chips. - 芯原 (Xinyuan) +9.11% - 灿芯 (Canxin) +5.59% - 寒武纪 (Cambricon) -9.18% - 沐曦 (Muxi) -3.08% - 摩尔 (Moore) -2.65% [1] - **Storage Sector**: - 普冉 (Purang) +8% - 恒烁 (Hengshuo) +6% - There is a recovery trend in storage prices [1]. - **Profit Expectations**: - The GPU company 寒武纪 (Cambricon) is expected to report Q4 profits slightly below expectations, while 海光信息 (Haiguang Information) has not released performance forecasts. - The ASIC company 芯原股份 (Xinyuan Co.) is seeing project implementations that may lead to improved performance trends, maintaining a bullish outlook [1]. - **Key Recommendations**: - 芯碁微装 (Xinqi Micro) is strongly recommended, with a projected market cap exceeding 450 million, and expected monthly deliveries of 2E equipment in Q1, indicating high growth potential [1]. - 佰维存储 (Baiwei Storage) is anticipated to see significant growth in 2026, with Q1 performance expected to double sequentially [1]. Additional Important Insights - **Advanced Packaging**: The advanced packaging sector is expected to see shipments double annually, indicating robust growth prospects [1]. - **Flash Memory Prices**: Overseas institutions predict that the price of SanDisk NAND used for enterprise SSDs may increase by over 100% quarter-on-quarter in March [2]. - **AI Chip Demand**: 菲利华 (Feilihua) is positioned to benefit from explosive demand for AI chip products from Nvidia and Google, with expectations of becoming a global leader in Q fabric, targeting a market cap of 100 billion [2].

炬光科技(688167.SH)发布股价异动公告称，尽管近期光通信行业景气度提升，但截至2025年三季度， 公司光通信领域的收入占公司整体收入比例仍然很低，约为7%，尚未构成核心业绩支柱。提醒投资者 关注光通信行业技术迭代、市场竞争加剧、供需格局变化等风险，理性看待股价波动，注意投资风险。 ...

Core Viewpoint - Despite the recent improvement in the optical communication industry, the revenue from this sector for the company remains low, accounting for only about 7% of total revenue as of Q3 2025, and does not yet constitute a core performance pillar [1] Company Summary - The company has issued a stock price fluctuation announcement highlighting the low contribution of the optical communication sector to overall revenue [1] - The company emphasizes the need for investors to be aware of risks related to technological iterations, intensified market competition, and changes in supply-demand dynamics within the optical communication industry [1]

格隆汇2月3日丨炬光科技(688167.SH)公布，尽管近期光通信行业景气度提升，但截至2025年三季度， 公司光通信领域的收入占公司整体收入比例仍然很低，约为7%，尚未构成核心业绩支柱。提醒投资者 关注光通信行业技术迭代、市场竞争加剧、供需格局变化等风险，理性看待股价波动，注意投资风险。 ...

证券代码：688167 证券简称：炬光科技 公告编号：2026-011 西安炬光科技股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 西安炬光科技股份有限公司（以下简称"公司"）股票于 2026 年 1 月 30 日、2 月 2 日、2 月 3 日连续 3 个交易日内日收盘价格涨幅偏离值累计超过 30%。 根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波动的情形。 经公司自查并向公司控股股东、实际控制人书面发函核实，截至本公告 披露日，除官方已公开披露的信息外，公司不存在应披露而未披露的重大信息。 公司已于 2026 年 1 月 29 日在上海证券交易所网站披露了《西安炬光科 技股份有限公司 2025 年年度业绩预告》（公告编号：2026-007），经公司财务部 门初步测算，公司预计 2025 年年度实现归属于母公司所有者的净利润-4,200.00 万元到-3,200.00 万元。（该业绩预告所列示的财务数据未经注册会计师审计，具 体以公司 2025 年年度报告 ...

每经AI快讯，2月3日，炬光科技(688167.SH)公告称，公司股票连续3个交易日内日收盘价格涨幅偏离值 累计超过30%，属于股票交易异常波动情形。尽管近期光通信行业景气度提升，但截至2025年三季度， 公司光通信领域的收入占公司整体收入比例仍然很低，约为7%，尚未构成核心业绩支柱。提醒投资者 关注光通信行业技术迭代、市场竞争加剧、供需格局变化等风险，理性看待股价波动，注意投资风险。 ...