Guotai HaiTong: Clear trend of price increase in the optical fiber industry, pay attention to the opportunity of CPO/OIO changing from 0 to 1.

Guotai Haitong released a research report stating that the performance of the optical interconnection industry is expected to be strong overall. It is worth paying attention to the opportunity for the change from 0 to 1 in CPO/OIO, and the trend of price increases in the fiber optic industry is clear, with hollow cores bringing new incremental growth. The industry's position in the sector has increased, with valuations reaching historically high levels, reflecting expectations for the sector to be driven upwards by the AI industry chain. AI-driven network upgrades, strong overseas demand, and domestic core companies are fully benefiting from the global infrastructure wave. The domestic new generation of computing power infrastructure has started, and the national industrial chain is entering a new cycle. New connections are expected to usher in an industry development inflection point in 2026, bringing more investment opportunities. The upgrade of the network - the large-scale model training and application of AI will increase the demand for communication capabilities, and network innovation and new technology applications are rapidly advancing.