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2026-09-14 16:05:55 Goldman Sachs recently visited multiple optical companies in Hong Kong, Taiwan and Suzhou, covering areas including optical modules, photonic integrated circuit testing and coupling equipment, fiber array units (FAUs) for NPO/CPO, as well as InP epitaxial wafers/ CW lasers. Companies visited included ZJ INNOLIGHT (03308.HK), DONGSHAN PRECISION (002384.SZ), HGTECH (000988.SZ), CIG (06166.HK), XIZHI TECH-P (01879.HK) and ASMPT (00522.HK). The companies interviewed maintained a positive view on demand for optical modules, expecting benefits from increased deployment of AI server racks, expansion in optical module applications and specification upgrades. The broker said global demand for 800G and 1.6T products may reach 130-200 million units. Overall demand in the China market may also record mid-double-digit YoY growth to more than 50 million units. However, tight supply of raw materials such as DSPs, lasers and PCBs may continue to constrain shipments next year. Goldman Sachs maintained a Neutral rating on ASMPT with a TP of HKD177, while ZJ INNOLIGHT was rated Buy with a TP of HKD3,267. ~ AASTOCKS Financial News Website: www.aastocks.com | |