中际旭创(300308) - 中际旭创调研活动信息

Group 1: 800G Product Insights - The price range for 800G products is expected to follow historical trends, with no significant price drops anticipated in the near future [3] - Demand for 800G products is projected to increase several times compared to this year, necessitating a rapid expansion of production capacity [4] - The supply of DSP chips is currently tight due to the rapid ramp-up of 800G production, but significant deliveries are expected by Q3 [4] Group 2: Customer Demand and Technology Trends - Key customers have not changed their demand for 800G products, and orders are expected to rise steadily [5] - The mainstream technology path for 800G remains traditional solutions (EML+DSP), with alternative options like CPO still in early testing phases [5] - AI market demand for GPU continues to drive stable demand for 800G optical modules [5] Group 3: Future Projections and Financial Outlook - The demand for 1.6T optical modules is expected to begin testing and small-scale production in 2024, with significant scaling anticipated in 2025 [5] - The company expects to maintain a favorable cost structure and gross margin despite annual price reductions in 800G products [6] - The board of directors has been restructured to enhance governance, with a focus on transparency and stability in shareholder structure [6]