Group 1 - The A-share market continued to decline, with most computing power hardware stocks experiencing fluctuations after a high opening, including major ETFs like Huaxia [1] - The "Yizhongtian" combination (Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication) disclosed their 2025 annual performance forecasts, showing significant profit growth driven by investments in computing power infrastructure and strong demand for high-speed optical modules [1] - Zhongji Xuchuang expects a net profit of 9.8 billion to 11.8 billion, a year-on-year increase of 89.50% to 128.17%, while Xinyi Sheng anticipates a net profit of 9.4 billion to 9.9 billion, a substantial increase of 231.24% to 248.86% [1] Group 2 - The optical module index rose by 10.07% last week and 9.08% in January, indicating strong growth in the AI industry and server revenue [2] - Zhongji Xuchuang's strong performance forecast reflects robust demand for global computing power infrastructure, positioning the company to benefit as an early adopter of 1.6T technology [2] - Domestic optical module exports have decreased due to local manufacturers establishing factories overseas, but demand from overseas cloud vendors is expected to remain strong, allowing domestic firms to capture more market share [2]

2月2日，天孚通信跌5.04%，截至发稿，报235.90元/股，成交100.02亿元，换手率5.18%，总市值 1833.92亿元。 截至发稿，独孤南薰累计任职时间9年304天，现任基金资产总规模1.2亿元，任职期间最佳基金回报 72.78%， 任职期间最差基金回报-7.03%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 资料显示，苏州天孚光通信股份有限公司位于江苏省苏州市高新区长江路695号，成立日期2005年7月20 日，上市日期2015年2月17日，公司主营业务涉及光无源器件的研发设计、高精密制造与销售业务。主 营业务收入构成为：光通信元器件98.91%，其他1.09%。 从基金十大重仓股角度 数据显示，山证资管旗下1只基金重仓天孚通信。山证资管策略精选混合A（003659）四季度增持1.41万 股，持有股数3.51万股，占基金净值比例为7.44%，位居第三大重仓股。根据测算，今日浮亏损失约 43.9 ...

Group 1 - The A-share market showed mixed performance on February 2, 2026, with the optical module sector opening high and the ChiNext Growth ETF (159967) rising by 1.07% [1] - On January 30, Zhongji Xuchuang and Xinyi Sheng both released their 2025 earnings forecasts, reporting impressive performances with net profits exceeding 9 billion [1] - The three leading companies in the A-share CPO concept—Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication—have all announced significant increases in net profits for 2025 [1] Group 2 - CITIC Securities believes that the AI industry remains highly prosperous, and optical modules, as core components of computing networks, will directly benefit from this trend [1] - There is a substantial increase in capital expenditure from overseas cloud vendors, leading to strong demand for optical modules, while technological iterations (such as NPO and CPoE) will further solidify the advantages of leading companies [1]

Core Viewpoint - The companies in the optical module industry, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, are experiencing significant growth in their financial performance, driven by strong demand for computing infrastructure and rapid product shipment increases [1][2]. Group 1: Financial Performance - Zhongji Xuchuang expects a net profit attributable to shareholders of 9.8 billion to 11.8 billion yuan for 2025, representing a year-on-year growth of 89.50% to 128.17% [1][3]. - Xinyi Sheng anticipates a net profit attributable to shareholders of 9.4 billion to 9.9 billion yuan for 2025, with a year-on-year increase of 231.24% to 248.86% [1][4]. - Tianfu Communication projects a net profit attributable to shareholders of 1.881 billion to 2.150 billion yuan for 2025, reflecting a growth of 40% to 60% [1][4]. Group 2: Market Drivers - The growth in performance for all three companies is attributed to strong investments from end customers in computing infrastructure, leading to rapid market demand and increased product shipments [1][3][4]. - Zhongji Xuchuang's growth is also supported by the increasing proportion of high-speed optical modules and improvements in operational efficiency [3][6]. Group 3: Stock Market Performance - Over the past year, the stock prices of Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication have surged by 465.23%, 233.54%, and 146.46%, respectively [1][10]. - The combined market capitalization of these three companies has reached approximately 1.33 trillion yuan, with a total increase of about 1.06 trillion yuan over the past year [1][10]. Group 4: Production Expansion - All three companies are actively expanding their production capabilities to meet market demand [8]. - Zhongji Xuchuang's construction in progress increased from 53 million yuan at the end of 2024 to 980 million yuan by the third quarter of 2025 [9]. - Both Tianfu Communication and Xinyi Sheng have established production bases in Thailand to serve global customers [9][10].

Investment Rating - The report maintains a "Buy" rating for key companies in the sector, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, among others [11]. Core Insights - The transition to the "Agent" era is accelerating, with AI agents like Clawdbot and Claude Excel evolving from simple conversational tools to essential productivity tools, significantly increasing demand for cloud computing resources [1][20]. - The AI application landscape is fundamentally shifting from simple interactions to deep integration into work processes, marking a new paradigm where AI becomes a core executor in workflows [2][21]. - The emergence of AI agents is driving a qualitative change in underlying computing power demand, as these agents transition from auxiliary tools to autonomous entities [3][22]. - The competition for computing power is intensifying, with rising cloud service prices and continuous growth in capital expenditures (capex) from cloud providers, highlighting the increasing importance of scarce computing resources [4][23]. Summary by Sections Investment Strategy - The report suggests focusing on the computing power sector, particularly in optical communications, with recommended companies including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication [14]. - It also highlights the importance of liquid cooling and edge computing platforms, recommending companies like Yingweike and Meige Intelligent [14]. Market Review - The communication sector has seen an increase, with optical communications performing particularly well, as evidenced by significant stock price increases for companies like Tianfu Communication and Zhongji Xuchuang [16][17]. Computing Power Demand - The report emphasizes that the new operational modes of AI agents lead to a dramatic increase in token consumption, necessitating high concurrency and continuous online capabilities from computing services [5][25]. - Major cloud providers like Google Cloud and Amazon AWS have announced price increases for their services, indicating a shift from a long-term trend of decreasing prices [10][23]. Key Companies and Performance - Zhongji Xuchuang and Xinyi Sheng have shown strong growth, with Zhongji Xuchuang maintaining its leading position in the industry [25]. - The report recommends monitoring the performance of companies involved in the computing power supply chain, including those in optical modules and liquid cooling sectors [25].

| 序号 | 股票代码 | 股票简称 | 现价(元) | 张跌幅(%) | 补绕预告摘要 | 预告净利润变动中值(%) ② | | f | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 2025.12.31 | 2025.12.31 | | 20 | | | | | | | 预计2025-01-01到2025-12 收起 | | | | | | | | | | -31 ·绩:归属于圆公司股东的 | | | | | | | | | | 净利润980000万元至1180000 | | | | | | 300308 | 中际旭创 | 649.00 | 5.73 | 万元,增长幅度为89.50%至128. | | 108.84 | 2 | | | | | | | 17%;上年同期上绩:归属于母 | | | | | | | | | | 公司股东的净利润517148.60万 | | | | | | | | | | F | | | | | | | | | | 预计2025-01-01到2025-12 收起 | | | | | | | ...

扬子晚报网1月31日讯(记者范晓林薄云峰)1月30日晚间，中际旭创（300308）发布2025年度业绩预告， 预计2025年归属于上市公司股东的净利润比上年同期增长89.50%至128.17%。对于业绩增长的原因，中 际旭创表示，报告期内，受益于终端客户对算力基础设施的强劲投入等。截至发稿时，中际旭创股价总 市值约为7211.16亿元。 | 项目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司股 | 盈利:980,000 万元 - 1,180,000 万元 | 盈利:517,148.60 万元 | | 东的净利润 | 比上年同期增加:89.50%-128.17% | | | 扣除非经常性损益 | 盈利:970,000 万元 - 1,170,000 万元 | 盈利:506,835.63 万元 | | 后的净利润 | 比上年同期增加:91.38%-130.84% | | 中际旭创业绩预告。 所谓"易中天"组合概念股，是代指3家专注于CPO(共封装光学)概念的上市公司：新易盛（300502）、中 际旭创和天孚通信（300394）。这三家公司因身处AI算力基础设施的热门赛道 ...

Core Viewpoint - The performance forecasts for the leading CPO companies in A-shares, namely Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, indicate significant growth in net profits for 2025, driven by strong demand in the AI and data center sectors [1][5][7]. Group 1: Company Performance Forecasts - Zhongji Xuchuang (300308.SZ) expects a net profit of 9.8 billion to 11.8 billion yuan for 2025, representing a year-on-year increase of 89.50% to 128.17% [7]. - Xinyi Sheng (300502.SZ) anticipates a net profit of 9.4 billion to 9.9 billion yuan for 2025, reflecting a growth of 231.24% to 248.86% compared to the previous year [9]. - Tianfu Communication (300394.SZ) projects a net profit of 1.881 billion to 2.150 billion yuan for 2025, indicating a year-on-year increase of 40% to 60% [11]. Group 2: Market Performance - As of January 30, 2025, the stock prices of Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication have seen substantial increases over the past year, with growth rates of 468%, 368%, and 248% respectively [2][12]. - On January 30, 2025, the CPO sector experienced a collective surge, with stocks like Jieput and Zhishang Technology hitting a 20% limit up, and Tianfu Communication rising nearly 17% during trading [2][3]. Group 3: Industry Trends and Catalysts - The AI industry is witnessing a surge in positive developments, with new models and technologies being released, which is expected to further stimulate market enthusiasm and demand for computing power [16]. - Market research indicates that the revenue for optical modules driven by AI is projected to exceed $18 billion by 2025, with related optical modules expected to reach nearly $6 billion [16].

Core Viewpoint - The article highlights the strong performance and optimistic earnings forecasts of leading CPO companies in the A-share market, specifically Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, collectively referred to as "Yizhongtian" [1][5]. Group 1: Company Performance - Zhongji Xuchuang (300308.SZ) expects a net profit of 9.8 billion to 11.8 billion yuan for 2025, representing a year-on-year growth of 89.50% to 128.17% [6]. - Xinyi Sheng (300502.SZ) anticipates a net profit of 9.4 billion to 9.9 billion yuan for 2025, with a projected increase of 231.24% to 248.86% compared to the previous year [8]. - Tianfu Communication (300394.SZ) forecasts a net profit of 1.881 billion to 2.150 billion yuan for 2025, indicating a growth of 40.00% to 60.00% year-on-year [10]. Group 2: Market Trends - As of January 30, 2023, the stock prices of the three leading CPO companies have seen significant increases over the past year, with Zhongji Xuchuang up 468%, Xinyi Sheng up 368%, and Tianfu Communication up 248% [2]. - The CPO sector experienced a collective surge on January 30, with stocks like Jieput and Zhishang Technology hitting a 20% limit up, and Tianfu Communication seeing a nearly 17% intraday increase [2][3]. Group 3: Industry Catalysts - The growth in the CPO sector is supported by the AI industry's development and increased investment in computing power infrastructure, which has led to a surge in demand for high-speed optical devices [4][12]. - A report from CignalAI predicts that the revenue for the optical module market driven by AI will exceed $18 billion by 2025, with related optical modules reaching nearly $6 billion [13].

Core Viewpoint - As of January 30, 2025, a total of 3,056 A-share listed companies have disclosed their earnings forecasts, with 1,095 companies expecting positive results, indicating a recovery in various industries such as non-ferrous metals, automotive, chemicals, and semiconductors [1][2][7]. Group 1: Earnings Forecasts - 1,095 companies are expected to report positive earnings, with 83 showing slight increases, 374 turning losses into profits, 13 maintaining profitability, and 625 forecasting significant growth [8]. - Among the companies with significant growth, Ningbo Fubang expects a net profit of 50 million to 70 million yuan, representing a year-on-year increase of 3,099.59% to 4,379.43% [1][8]. - 619 companies anticipate a net profit of over 100 million yuan, with 136 expecting over 1 billion yuan, including major firms like Zijin Mining and China Shenhua [2][8]. Group 2: Industry Performance - The non-ferrous metals, automotive, chemicals, and semiconductor industries are showing signs of recovery, with leading companies performing particularly well [2][9]. - Companies such as Shandong Gold and Western Gold are forecasting significant profit increases, with Shandong Gold expecting a net profit of 4.6 billion to 4.9 billion yuan, a year-on-year increase of 56% to 66% [12]. - East China Semiconductor reported that niche memory prices are rising due to supply constraints, positively impacting their business outlook [9]. Group 3: Specific Company Highlights - Zhongji Xuchuang expects a net profit of 9.8 billion to 11.8 billion yuan, a year-on-year increase of 89.5% to 128.17%, driven by strong demand for computing infrastructure [3][10]. - New Yisheng anticipates a net profit of 9.4 billion to 9.9 billion yuan, reflecting a growth of 231.24% to 248.86% due to increased demand for high-speed products [10]. - Tianfu Communication forecasts a net profit of approximately 1.88 billion to 2.15 billion yuan, a year-on-year increase of 40% to 60%, benefiting from the growth of the AI industry and global data center construction [11].