---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43288543.md"
description: "$ZJ INNOLIGHT(03308.HK) /$Eoptolink(300502.SZ)Leading overseas AI datacom playerThe short-term demand logic remains intact, and it has been highlighted by the NVIDIA pluggable ecosystem; the new additions are US policy tail risks and valuation discounts.Whether it is included in the list; certification of new platforms by US customers; revenue share and gross margin of 1.6T; source of overseas production capacity.The core position logic still holds, but it is not advisable to bet on a single position when policy information is unclear; new positions should wait for rules and customer feedback.$TFC(300394.SZ) Optical devices/external laser and coupling linksCPO is not purely negative news; rather, it may shift value from complete modules to optical engines, connections, coupling, and lasers.CPO/LPO-related revenue rather than "technology reserves"; customer mass production rhythm; unit value and yield rate.More suitable for diversifying technology routes, but do not directly equate the CPO concept with revenue realization.$Accelink(002281.SZ) /$HGTECH(000988.SZ) Domestic substitution and domestic computing power chainIf the US supply chain is cut off, the overseas ceiling will be limited; but the strategic value of domestic substitution and independent chains will rise.Quality of overseas customers, product generations, orders from domestic cloud factories, net profit margin, and realization of expansion.A 偏向 policy hedging position, elasticity depends on the real share of high-end products, not just the "domestic" label.Indium Phosphide/Indium conceptUpstream materialsThe counter-narrative has policy basis, but supply scarcity and listed company profit elasticity are two different things.Whether the company truly produces indium phosphide; capacity, purity, customers, profit contribution; actual changes in export licenses.Only suitable for event observation, not for chasing rises based on keywords.Broadcom / Coherent / Lumentum / FabrinetIf Chinese suppliers are restricted, they may gain alternative shares; but they will also face upstream material, capacity, and cost shocks.CPO mass production, customer concentration, 1.6T shipments, supply bottlenecks, and pricing.Can be used as a geopolitical diversification expression, but it is not a risk-free alternative."
datetime: "2026-08-08T04:30:15.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43288543.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43288543.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43288543.md)
author: "[爱自己是最好的开始](https://longbridge.com/en/profiles/14079300.md)"
---

# $ZJ INNOLIGHT(03308.HK) /$Eoptolink(300502.SZ)Lead…


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