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On April 9th, the optical communication sector in the A-share market remained active, becoming the market focus. As of today's close, the industry leader Zhongji Innolight (300308.SZ) reported a stock price of 693.02 yuan, with a total market capitalization of 770.03 billion yuan, reaching a peak of 700.00 yuan during the session, setting a new historical high. This strong performance also boosted the stock prices of Eoptolink (300502.SZ) and TFC (300394.SZ) in the same sector. The market collectively refers to these three companies as the &#34;Yi Zhong Tian&#34; combination, whose performance has become a barometer for observing the prosperity of the optical communication industry.
According to financial news statistics, reviewing the past year (from April 9, 2025, to April 9, 2026, adjusted for dividends), under the backdrop of continuously growing demand for AI computing power, the stock prices of the &#34;Yi Zhong Tian&#34; combination have all recorded significant increases, with Eoptolink's cumulative increase during this period being 949.31%, Zhongji Innolight's cumulative increase being 936.48%, and TFC's cumulative increase being 757.50%.
The stock price performance of the &#34;Yi Zhong Tian&#34; combination is closely related to its performance growth and industry prosperity. From the disclosed 2025 annual reports, the overall performance of the CPO (Co-Packaged Optics) concept is impressive. Zhongji Innolight achieved a net profit attributable to shareholders of 10.797 billion yuan in 2025, a year-on-year increase of 108.78%; TFC achieved a net profit attributable to shareholders of 2.017 billion yuan, a year-on-year increase of 50.15%; Eoptolink is expected to have a net profit for 2025 ranging from 9.4 billion to 9.9 billion yuan, a year-on-year increase of 231.24% to 248.86%.
Upstream fiber prices soar, YOFC leads the charge
As the upstream of the optical communication industry chain, the fiber optic cable industry is also experiencing an unprecedented high prosperity cycle. Since the beginning of 2026, driven by global demand for AI data center construction, fiber prices have continued to soar. In January 2026, the average price of G.652.D single-mode fiber exceeded 40 yuan/km, reaching a nearly seven-year high, with a monthly increase of over 75%; while the price of G.657A1 fiber, specifically for AI data centers, has surged to over 45 yuan/km.
Against this backdrop, the stock performance of fiber optic leader YOFC (601869.SH) is particularly eye-catching. As of the close on April 9, 2026, its stock price was 398.31 yuan, with a single-day increase of 10%, bringing its total market capitalization close to 330 billion yuan, also setting a historical high. Over the past year, YOFC's cumulative stock price increase has reached an astonishing 1324.87%, even more pronounced than the increases of the &#34;Yi Zhong Tian&#34; combination, further highlighting the prosperity of the optical communication sector.
CPO Technology: The &#34;Highway&#34; of the AI Computing Power Era
The strong performance of the &#34;Yizhongtian&#34; combination and YOFC highlights the increasingly strategic position of CPO technology and optical fiber networks in the AI computing power era.
According to data, CPO is a new type of optoelectronic integrated packaging technology that breaks the traditional independent packaging model of optical modules and electronic chips, directly packaging the optical engine (the core functional part of the optical module) and the switch ASIC chip on the same substrate. The growing market preference for CPO technology is due to the increasing bandwidth demand for data transmission driven by AI development. The traditional &#34;cable + connector&#34; architecture of optical modules can no longer meet the needs in certain scenarios (such as data centers), while CPO solves this problem through co-packaging technology, making it the core solution for the next generation of high-speed optical communication, such as 800G, 1.6T optical modules.
In April 2026, the General Office of the Ministry of Industry and Information Technology issued a notice on launching a special action to empower the development of small and medium-sized enterprises with inclusive computing power, proposing to promote the application and deployment of technologies such as all-optical switching, prioritizing the use of CPO technology in intelligent computing centers, and requiring that by the end of 2026, the CPO adaptation ratio of newly built intelligent computing centers should not be less than 60%. The introduction of this policy has accelerated the large-scale commercialization of CPO technology.
Tianfeng Securities stated that the industry consensus increasingly views CPO as a necessary choice rather than an optional technology. The discussion has shifted from questioning the need for CPO to addressing implementation challenges, including integration models, control architectures, and operational readiness.
Accelerated Industry Layout, Broad Market Prospects
The latest research report from Soochow Securities points out that the industrialization of CPO technology is accelerating and has become a core growth driver for optical interconnection. NVIDIA clearly identified CPO as the key route to overcoming the power consumption and bandwidth bottlenecks of AI computing clusters at GTC 2026; on April 1, TSMC announced that its silicon photonics integration platform COUPE would enter mass production within the year, marking the official start of CPO's commercialization.
During OFC 2026, Lightmatter launched the industry's first detachable optical fiber array vClick™Optics, integrating SenkoSEAT™ and MPC connector technologies, suitable for the large-scale production of CPO; Coherent (COHR.US) introduced a 6.4T socketed CPO solution, featuring a standardized slot design that balances high bandwidth and easy maintenance. The domestic industrial chain is advancing simultaneously, with Robotech (300757.SZ) winning approximately 600 million yuan in silicon photonic coupling equipment orders last week; the Xingyao Photonic Silicon Project, jointly initiated by Changguang Huaxin (688048.SH) and Hengtong Optic-Electric (600487.SH), recently broke ground in Suzhou to build the country's first 8-inch 90nm silicon photonic chip production line. With leading manufacturers heavily investing, CPO is rapidly transitioning from concept validation to large-scale commercialization, opening up new growth opportunities in the industry
Jufeng Investment Advisory predicts that from 2025 to 2027 will be a rapid growth period, with CPO first landing in high-end AI computing clusters and ultra-large cloud data center core networks. After 2027, it will gradually penetrate into general data centers. It is expected that by 2030, the market size of core components will exceed USD 15 billion, becoming the core engine of growth in the optical communication industry.
According to Yole's forecast, CPO will start from 800G/1.6T ports, entering the commercial stage from 2024 to 2025. By 2027, global port sales may reach 4.5 million units, and market revenue is expected to reach USD 2.6 billion by 2033 (with a CAGR of 46% from 2022 to 2033)

515880

300502

06869

300308

601869

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159994

300394

On April 9th, the A-share optical communication sector was active, with Zhongji Innolight's stock price reaching a historic high of 693.02 yuan, and a total market value of 770.03 billion yuan. Eoptolink and TFC's stock prices also rose simultaneously, and the three companies are referred to as the "Yizhongtian" combination, with significant stock price growth over the past year. Zhongji Innolight's net profit is expected to grow by 108.78% year-on-year in 2025, TFC by 50.15%, and Eoptolink is projected to grow by 231.24% to 248.86%. The price of optical fibers has surged due to the demand from AI data centers, with YOFC's stock price reaching 398.31 yuan, setting a new historical high

腾讯新闻 - 财经

Guotai CSI All Share Communications Equipment ETF

Eoptolink

YOFC

Zhongji Innolight

Fullgoal CSI Communication Equipment Thematic ETF

Yinhua CSI 5G Communication Theme ETF

YOFC and Zhongji Innolight have increased tenfold in a year; can we still believe in light by 2026?