According to the Galaxy Securities Research Report, the optical communications industry is currently undergoing profound structural changes driven by the explosion in AI computing power demand, and the industry's boom has shifted from traditional cyclical fluctuations to a long-term expansion channel supported by technological iteration and capital expenditure resonance. Major global cloud vendors and AI companies continue to increase their computing power infrastructure investment budgets, directly driving demand for high-speed optical modules to show nonlinear growth. The research report believes that starting in 2026, the penetration rate of high-speed products in the digital communication field is increasing at an accelerated pace. 1.6T products have entered the batch delivery cycle, and high demand side growth provides solid fundamental support for capacity release and profit fulfillment in all links of the industrial chain; as the certainty of high demand growth continues to increase, capacity release has also improved quarterly since the beginning of the year. Although the current shortage of upstream raw materials still exists, the extent of shortage may continue to narrow as domestic production substitution and other processes continue to deepen.

According to the Galaxy Securities Research Report, the optical communications industry is currently undergoing profound structural changes driven by the explosion in AI computing power demand, and the industry's boom has shifted from traditional cyclical fluctuations to a long-term expansion channel supported by technological iteration and capital expenditure resonance. Major global cloud vendors and AI companies continue to increase their computing power infrastructure investment budgets, directly driving demand for high-speed optical modules to show nonlinear growth. The research report believes that starting in 2026, the penetration rate of high-speed products in the digital communication field is increasing at an accelerated pace. 1.6T products have entered the batch delivery cycle, and high demand side growth provides solid fundamental support for capacity release and profit fulfillment in all links of the industrial chain; as the certainty of high demand growth continues to increase, capacity release has also improved quarterly since the beginning of the year. Although the current shortage of upstream raw materials still exists, the extent of shortage may continue to narrow as domestic production substitution and other processes continue to deepen.