[CITIC Securities: Global OCS market demand is expected to grow significantly] On September 8, a CITIC Securities research report stated that OCS is a switching device that directly establishes physical optical paths between optical fiber ports without passing through the electrical domain. It is mainly used in scale-up/out/across electrical switching scenarios of AI clusters. It has the triple advantages of low power consumption, protocol transparency, and topology reconfigurability. Cignal AI predicts that the global OCS market size may exceed US$8 billion in 2030, corresponding to a compound growth rate of over 30% from 2026 to 2030. CITIC Securities believes that with the upgrade of Google's cluster network architecture (3D → 6D Torus) and the acceleration of new customer introduction, the global OCS market demand is expected to grow significantly. At present, domestic manufacturers have the ability to supply multiple links such as optical layers, and their share growth trend is clear.