Shanghai Securities: Dongshan Precision's acquisition of equity to lay out the optical communication track, maintaining a "buy" rating.

The Shanghai Securities Research Report pointed out that Dongshan Precision is investing 5.9 billion yuan in the field of optical communication, and the acquired company has rich global customer resources and high market visibility. Solstice Optoelectronics has deep technical accumulation, advanced research and development capabilities, and a complete industrial chain layout in the field of optical communication modules and components. As of the end of March 2025, the total assets of Solstice Optoelectronics amounted to 3.517 billion yuan, with a first quarter revenue of 975 million yuan and a net profit of 157 million yuan in 2025. The company has accumulated rich customer resources, manufacturing experience, and supply chain management capabilities in the consumer electronics and new energy vehicle fields, and combined with Solstice Optoelectronics' technology and products in the field of optical communication, it is expected to achieve significant synergies in customer resource sharing, technology research and development collaboration, production optimization, and supply chain integration. With corresponding price-to-earnings ratios of 21x, 18x, and 15x based on the closing price on June 17, 2025, the "buy" rating is maintained.