B[Optical fiber concept fluctuates higher, Hangzhou Electric Co., Ltd. shares rise by the daily limit] On October 16, the optical fiber concept fluctuated higher during the session, Hangzhou Electric Co., Ltd. shares rose by the daily limit, Hongrida rose by more than 10%, and Yute Optoelectronics, Raycus Laser, Tongding Internet, and Yongding shares were among the top gainers. According to the news, optical fiber companies at home and abroad have locked in long-term orders. Corning has signed multi-year cooperation agreements with Meta, Nvidia, Amazon, Verizon, and AT&T, with Verizon's agreement covering 2027-2032; Longcore Bochuang's subsidiary signed with overseas entities until the end of 2030, with estimated sales of approximately 4.5 billion yuan; Zhongtian Technology won a bid for an Internet company's 1.518 billion yuan data center optical fiber connection product centralized procurement. A[Hong Kong’s Hang Seng Technology Index closed down 2.72%, with the optical communications and semiconductor sectors leading the decline] On October 15th, Hong Kong’s Hang Seng Technology Index closed down 1.03%, and the Hang Seng Technology Index fell 2.72%. Optical communications and semiconductor sectors were among the top decliners. YOFC Optical Fiber and Cable fell by more than 13%, Tianshu Smart Core fell by more than 13%, Biren Technology fell by more than 11%, Montage Technology fell by more than 11%, Haiguangxin fell by more than 8%, and Cambridge Technology It fell 8%, Huahong Grace fell nearly 8%, Zhongji InnoLight fell more than 7%, and SMIC fell nearly 4%; large model stocks fell, Zhipu fell more than 10%, MINIMAX fell more than 12%; Lenovo Group fell more than 14%. B[Hong Kong’s Hang Seng Index closed down 0.13% and the Hang Seng Technology Index rose 0.91%] On October 14th, Hong Kong’s Hang Seng Index closed down 0.13% and the Hang Seng Technology Index rose 0.91%. Mingxing Internet stocks generally rose, with Meituan rising by more than 6%, Xiaomi Group rising by more than 5%, and Alibaba rising by more than 3%. The biopharmaceutical sector led the decline, with Ascletis Pharmaceuticals falling more than 12%, Lepu Biologics falling more than 6%, and Peg Biopharmaceuticals falling more than 5%. The optical communications sector fell, with Haiguangxin falling more than 8%, YOFC Optical Fiber and Cable falling more than 6%, Cambridge Technology falling more than 6%, and Zhongji InnoLight falling more than 4%. B[CITIC Securities: The advancement of scale-up optical and the withdrawal of copper has become the general trend, and the value of NPO/CPO driven passive components has been revalued] On October 12, CITIC Securities reported that copper interconnection is approaching the physical limit, the advancement of scale-up optical and the withdrawal of copper has become the general trend, and the value of NPO/CPO driven passive components has been revalued. In terms of usage, FAU and optical engines form a 1:1 rigid match, and the usage increases with the pure increment of Scale-up; in terms of price, the quadruple premiums of high-channel, process, optical fiber, and pluggable drive the price of FAU in NPO/CPO. Domestic passive manufacturers bind overseas leading customers through OEM/cooperation. FAU's core barrier lies in high-precision manufacturing and large-scale delivery. A[Hong Kong’s Hang Seng Technology Index closed down 2.89%, a new low since September 2024] On October 8, Hong Kong’s Hang Seng Technology Index closed down 1.43%; the Hang Seng Technology Index fell 2.89%, a new low since September 26, 2024. The "two heroes" of Hong Kong's large models led the decline, with MINIMAX-W falling by more than 13% and Zhipu falling by more than 7%. Semiconductor stocks fell collectively. Biren Technology fell by more than 11%, Huahong Grace fell by more than 9%, GigaDevice and Longsys fell by more than 7%, SMIC and Montage Technology fell by more than 6%, and Shanghai Fudan fell by more than 5%. Optical communications and PCB concept stocks generally fell. Haiguangxin fell by more than 13%, Guanghe Technology fell by more than 8%, YOFC Optical Fiber and Cable, Kingboard Laminated Board fell by more than 6%, and Shenghong Technology fell by 5%. B[Hang Seng Technology Index closed down 1.1% and the optical communications sector rebounded] On September 29, Hong Kong’s Hang Seng Index closed down 0.48% to 24523.57 points, and the Hang Seng Technology Index closed down 1.08% to 4249.62 points. The optical communications sector rebounded, with YOFC Optical Fiber and Cable rising by over 7%, Cambridge Technology rising by 5%, and Zhongji InnoLight rising by over 3%. Heavyweight technology stocks fell collectively, with Tencent and Meituan falling about 2%, and Alibaba falling more than 1%. Automobile stocks fell, with NIO down 5%, Xpeng Group down 4%, and WeRide down nearly 3%. B[National Bureau of Statistics: Profits in the optical fiber manufacturing and optical cable manufacturing industries increased by 5.3 times and 1.0 times respectively from January to August] On September 28, Yu Weining, chief statistician of the Industrial Department of the National Bureau of Statistics, interpreted the profit data of industrial enterprises from January to August 2026. From January to August, the profits of high-tech manufacturing industries above designated size increased by 54.7% year-on-year, and the growth rate was 39.0 percentage points higher than that of all industries above designated size. From an industry perspective, driven by the accelerated construction of computing infrastructure, profits in the optical fiber manufacturing and optical cable manufacturing industries increased by 5.3 times and 1.0 times respectively; in the fields of high-performance servers, workstations, and optoelectronic communications, computer machine manufacturing, computer peripheral equipment manufacturing, industrial control computer and system manufacturing, and communications systems The profits of the system equipment manufacturing industry increased by 3.9 times, 2.6 times, 1.3 times, and 48.7% respectively; the instrumentation and new medical equipment manufacturing industries accelerated development, and the profits of the navigation, surveying, mapping, meteorological and marine special instrument manufacturing, and dental equipment and appliance manufacturing industries increased by 2.2 times and 70.2% respectively. A[September 28 morning news selection]
1. From September 23 to 25, local time, Chinese President Xi Jinping paid a state visit to the United States. During the period, the two heads of state had an in-depth exchange of views on China-US constructive strategic and stable relations and major international and regional issues, and reached an eight-point consensus on outcomes.
2. A spokesman for the Ministry of Foreign Affairs stated that during the meeting between the heads of state of China and the United States, the issue of artificial intelligence was discussed in depth. Regarding the issue of artificial intelligence expression, China attaches great importance to the position of the United States and respects its formulation. Artificial intelligence technology is continuing to develop, and all parties can strengthen communication, in-depth discussions, and seek consensus based on the latest situation.
3. According to U.S. news on September 27, local time, U.S. President Trump said in an interview that negotiations with Iran are expected to continue this week.
4. The 2026 third quarter (total 114th) regular meeting of the Monetary Policy Committee of the People's Bank of China was held on September 19. The meeting believed that it is necessary to continue to implement a moderately loose monetary policy, increase countercyclical adjustments, better utilize the dual functions of monetary policy tools in terms of total volume and structure, strengthen the coordination of monetary and fiscal policies, and promote stable economic growth and a reasonable recovery in prices.
5. The derivatives clearing house of Hong Kong Exchanges and Clearing Limited will accept Chinese government bonds, policy financial bonds and Ministry of Finance bonds as non-cash collateral starting from November.
6. The reporter learned exclusively from the industry that a number of insurance companies have recently received the "Letter on Clarifying the Regulatory Criteria for Investment of Insurance Funds in Southbound Stock Connect ETFs", which clarifies the regulatory standards for investment of insurance funds in Southbound Stock Connect ETFs and shall be implemented with reference to the regulations on Southbound Stock Connect stocks.
7. On September 23, the U.S. International Trade Commission (ITC) voted to launch a 337 investigation (investigation code: 337-TA-1523) into specific dynamic random access memory (DRAM) equipment and its downstream products and components (III). Micron Technology and others are listed as defendants.
8. According to the website of the Shanghai Stock Exchange, the scheduled disclosure time for the third quarter quarterly report of 2026 for listed companies on the Shanghai Stock Exchange has been released. Among them, Youyan New Materials comes out on top and will disclose its third quarterly report on October 13. Jinpan Technology and Sichuan Investment Energy will follow closely and will be disclosed on October 14.
9. Yuexin Semiconductor announced that after the callback, the winning rate for this online issuance was 0.0423786759%, and the effective subscription multiple was 2359.67731 times.
10. The Shanghai Stock Exchange issued a regulatory work letter to Xinhua Wenxuan regarding the company’s stock price fluctuations. The target of the letter is a listed company, and the specific subject matter is a regulatory work letter regarding stock price fluctuations of Xinhua Wenxuan Publishing and Media Co., Ltd.
11. Huilu Ecology announced that it plans to invest 309 million yuan in the Junheng Technology R&D and production base project and add a new high-speed optical module production line with an annual output of 2 million units.
12. Zhongji InnoLight announced that the company reviewed and approved the repurchase plan on August 31, 2026, and plans to use its own funds or self-raised funds to repurchase shares for equity incentives or employee stock ownership plans.
13. China Life announced that it plans to invest no more than 4.5 billion yuan in establishing a partnership to invest in high-quality unlisted equity in the fields of artificial intelligence and semiconductors.
14. Thalys announced that Chongqing Xiaokang Holdings, the largest shareholder, and its persons acting in concert increased their holdings of 4.1501 million shares of the company from July 15 to September 24.
15. Hengtong Optoelectronics announced that it plans to raise no more than 6.636 billion yuan in additional capital for the research and development and production of new generation optical fibers and CPO advanced packaging research and development projects.
16. Montage Technology announced that WLT, the third largest shareholder, plans to reduce its holdings by no more than 2.33 million shares of the company, accounting for no more than 0.19% of the company’s total share capital. The reduction period is from November 2, 2026 to February 1, 2027.
17. Sanan Optoelectronics announced that the actual controller Lin Xiucheng was criminally detained on suspicion of official embezzlement and misappropriation of funds.
18. U.S. stocks opened higher last Friday, and the three major indexes collectively closed higher. The Dow Jones Industrial Average rose 0.93%, a cumulative gain of 0.28% for the week; the S&P 500 Index rose 0.51%, a cumulative gain of 1.22% for the week; the Nasdaq rose 0.48%, a cumulative gain of 2.06% for the week. Apple rose more than 1%, setting a new historical closing high, with a total market value approaching US$5 trillion.
19. The Wall Street Journal reported on the 25th, citing several U.S. officials, that U.S. President Trump rejected Iran’s proposal to reopen the Strait of Hormuz within seven days and told his aides that he might resume bombing Iran after the midterm elections for the U.S. Congress in November.
20. Russian Presidential Press Secretary Peskov said on September 25 that a tripartite meeting between Russia, the United States, and Ukraine may be held in the near future, but there are currently no specific details.
21. The U.S. 30-year Treasury bond yield exceeded 5.5% intraday last Friday, continuing to hit a new high since 2004.
22. A federal jury in San Diego, USA, ruled that Apple must pay more than $5.7 billion in compensation for infringing Taction Technology’s patents related to vibration technology.
23. Goldman Sachs Group strategists predict that spending by the five largest U.S. hyperscale cloud service providers on AI infrastructure will increase by more than 50% next year, reaching $1.2 trillion.
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