Chinese optical module maker Zhongji Innolight hit new record high on outlook of strong shipments
COMPANY NEWS STOCKS
Chinese optical module maker Zhongji Innolight hit new record high on outlook of strong shipments
COMPANY NEWS STOCKS

Chinese optical module maker Zhongji Innolight hit new record high on outlook of strong shipments

 

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Zhongji Innolight, a Chinese manufacturer of optical module and intelligent equipment, surged more than 6% to close at 170 yuan in Shenzhen, marking a new record high.

The stock has broken records in 14 days of the recent month and it has skyrocketed by 415% from 33 yuan on March 16.

The company has said that overseas customers’ demand in the cloud data center for 200G and 400G optical modul has declined to varying degrees, but the demand for the company’s industry-leading 800G OSFP optical module is growing rapidly, and in particular, the demand from AI companies has sharply exceeded expectations made in the beginning of the year.

In the second half of the year, the company will focus on ensuring delivery of orders and achieve shipments as high as possible, it said, adding that it’s very optimistic about even stronger growth of 800G modules next year.