Group 1 - The A-share market saw a decline in CPO concept stocks, with Tian Tong Co. nearing the limit down, Cambridge Technology dropping over 5%, and several other companies experiencing declines of more than 3% [1] - Cambridge Technology recently released a performance forecast, expecting a net profit attributable to shareholders of 252 million to 278 million yuan for the fiscal year 2025, representing a year-on-year increase of 51.19% to 66.79% [1] - For the first three quarters of 2025, Cambridge Technology's net profit attributable to shareholders was 259 million yuan, indicating that the expected net profit for Q4 2025 is projected to be between -7 million to 19 million yuan, which is below analysts' consensus forecast of 139 million yuan [1] Group 2 - Tian Tong Co. experienced a decline of 9.67% with a total market value of 14.2 billion yuan and a year-to-date decline of 12.49% [2] - Cambridge Technology's stock fell by 5.32%, with a total market value of 39 billion yuan and a year-to-date decline of 17.70% [2] - New Yi Sheng's stock dropped by 4.25%, with a total market value of 383.7 billion yuan and a year-to-date decline of 10.41% [2]

Group 1 - Zhengzhou is focusing on digital transformation and industrial upgrading, leveraging its historical strength and vibrant economy to create a conducive environment for innovation and investment [2] - The city aims to build a new foundation for computing power and create new industrial clusters, while enhancing the business environment to attract quality resources and capital [2] - The collaboration with various enterprises is expected to foster innovation platforms, expand application scenarios, and share market benefits, contributing to the development of a smart economy and society [2][3] Group 2 - Guests expressed their admiration for Zhengzhou's cultural charm, innovative vitality, and industrial strength, indicating a strong potential for further cooperation in artificial intelligence and digital economy [3] - The focus will be on attracting new technologies, scientific innovation companies, and investment capital to support high-quality economic and social development in Zhengzhou [3]

Core Viewpoint - The company has developed AWG chips and components suitable for 1.6T optical modules, currently undergoing client validation [2]. Group 1 - The company disclosed in its semi-annual report on July 30, 2025, that it is working on AWG chips and components for 1.6T optical modules [2]. - The company is actively following up on client feedback to accelerate the validation and preparation for mass production [2]. - Any significant progress will be disclosed in accordance with regulatory requirements [2].

Core Insights - As of January 15, a total of 169 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stock with the longest consecutive net inflow is Shenwan Hongyuan, which has seen net buying for 13 trading days [1] - Other notable stocks with significant consecutive net inflows include Shijia Guangzi, Lens Technology, Shangwei New Materials, Zhaochi Co., Deep Keda, Zhongchen Technology, Wukuang Capital, and Qianeng Hengxin [1]

沪深两市全天主力资金净流出628.64亿元，其中，科创板主力资金净流出43.18亿元，主力资金净流入的 有222只股，主力资金净流出的有377只股。 主力资金净流入排名 | 代码 | 简称 | 主力资金净流入（万 | 主力资金流入率 | 涨跌幅 | 换手率（%） | | --- | --- | --- | --- | --- | --- | | | | 元） | （%） | （%） | | | 688313 | 仕佳光子 | 49521.88 | 14.57 | 7.30 | 8.86 | | 688012 | 中微公司 | 44628.67 | 6.95 | 5.28 | 2.84 | | 688347 | 华虹公司 | 43539.95 | 13.18 | 4.15 | 6.33 | | 688498 | 源杰科技 | 26867.20 | 9.38 | 9.09 | 4.68 | | 688041 | 海光信息 | 23406.09 | 3.54 | -0.60 | 1.14 | | 688110 | 东芯股份 | 23156.65 | 11.10 | 2.05 | 3.94 | | 688525 | ...

Economic Performance - In November 2025, Henan's industrial production maintained strong momentum with a year-on-year growth of 8.0%, surpassing the national average by 3.2 percentage points [21][24] - The province's social retail sales reached 2691.99 billion yuan, growing by 4.4% year-on-year, which is 3.1 percentage points higher than the national average [22][24] - Fixed asset investment in Henan increased by 4.3% year-on-year, outperforming the national average by 6.9 percentage points [23][24] Market Overview - In 2025, the Henan Index rose by 44.02%, outperforming the Shanghai Composite Index by 25.61 percentage points and the CSI 300 Index by 26.36 percentage points [55][57] - The top three A-share performers in Henan were Shijia Photon (442.55%), Litong Technology (217.20%), and Guojin Precision (212.43%) [60] - The top three H-share performers were Lingbao Gold (527.26%), Weiye Holdings (407.63%), and Luoyang Molybdenum (281.05%) [60] Company Listings - As of the end of 2025, Henan had a total of 138 listed companies, including 113 A-shares and 31 H-shares, maintaining its rankings at 12th and 9th nationally [65] - In 2025, only one new company was added to the listings in Henan, which was Aerospace Hongtu, migrating from Beijing to Hebi [65] - There were no IPOs completed in Henan in 2025, with only Shenglong Co. passing the review and awaiting issuance [65] Investment Opportunities - The report suggests focusing on three key themes for investment in 2026: the integration of the real economy and digital economy, strategic mergers and acquisitions driven by state-owned enterprise reforms, and companies related to the health and elderly care industries [6]

Core Viewpoint - The communication equipment sector experienced a mixed performance, with a slight overall increase of 0.88% on January 15, while the Shanghai Composite Index fell by 0.33% and the Shenzhen Component Index rose by 0.41% [1]. Group 1: Stock Performance - Shenyu Co., Ltd. led the gains in the communication equipment sector with a closing price of 42.62, reflecting a rise of 10.39% and a trading volume of 396,000 shares, amounting to a transaction value of 1.671 billion [1]. - Other notable performers included: - Sega Technology with a closing price of 39.50, up 10.00% [1]. - Shijia Photon with a closing price of 87.43, up 7.30% [1]. - Lian Te Technology with a closing price of 197.00, up 7.01% [1]. - Zhaolong Interconnect with a closing price of 57.55, up 6.67% [1]. Group 2: Declining Stocks - The sector also saw significant declines, with Guangha Communication dropping 17.15% to a closing price of 28.98 [2]. - Other stocks that faced losses included: - Fujida down 10.68% to 44.90 [2]. - Xinkemobile down 10.66% to 17.76 [2]. - Huanghuo Communication down 10.01% to 43.07 [2]. Group 3: Capital Flow - The communication equipment sector experienced a net outflow of 1.058 billion from institutional investors and 2.280 billion from retail investors, while retail investors saw a net inflow of 3.338 billion [2]. - The capital flow for specific stocks indicated: - Zhongji Xuchuang had a net inflow of 1.832 billion from institutional investors [3]. - Xinyi Sheng saw a net inflow of 1.208 billion [3]. - Shijia Photon had a net inflow of 516 million [3].

Group 1 - CPO concept stocks experienced significant fluctuations, with Huanxu Electronics hitting the daily limit up [1] - Robotech, Yuanjie Technology, Zhongji Xuchuang, Liantech, and Shijia Photon all saw increases of over 5% [1]

Group 1 - The company emphasizes the importance of communication with investors and commits to complying with legal and regulatory requirements in responding to investor concerns [2] - The company plans to enhance its communication processes by implementing dedicated personnel for investor relations, optimizing inquiry categorization, and improving response timeliness [2] - The company will strictly adhere to regulatory rules regarding the disclosure of its 2025 operating performance forecast and will keep investors informed through future announcements [2] Group 2 - The company is focused on improving its investor relations management to ensure transparency and efficiency in addressing market concerns [2]

Core Viewpoint - The company has achieved a global market presence for its optical chips and related products, gaining recognition from clients in regions including Europe, America, and Southeast Asia due to its stable performance and technological advantages [2] Group 1: Company Performance - The company has established competitiveness in multiple niche markets within the optical communication sector, leveraging its mature technology accumulation and large-scale manufacturing capabilities [2] - The company plans to continuously align with industry trends and customer demands, steadily advancing product iteration and global market expansion [2]