Tongding Interconnection Information Co.,Ltd. (Stock Code: 002491) has issued a clarification statement regarding an article published on a WeChat public account. The company explicitly stated that it has no business relationship with NVIDIA Corporation (NVDA). The article, titled "Riding on NVIDIA, This A-share Fiber Optic Stock Surges Over 300% This Year," was deemed potentially misleading to investors, with its claims described as inaccurate and unfounded.
Recently, the fiber optic sector has become one of the hottest segments in the A-share market. This follows the announcement on May 6 of a multi-year strategic partnership between NVIDIA and the global fiber optic giant Corning Incorporated. As part of the deal, NVIDIA secured the right to invest up to $3.2 billion in Corning, which plans to build three new factories in the U.S. This expansion aims to increase production capacity for AI infrastructure optical connectivity tenfold and boost fiber output by over 50%. This news has spurred significant activity in the A-share fiber optic sector. As a concept stock in this space, Tongding Interconnection's share price has shown strong momentum, hitting the daily limit-up for four consecutive trading sessions on May 7, 8, 11, and 12, drawing considerable market attention.
As of the close on May 13, Tongding Interconnection's stock price was 26.95 yuan per share, up 7.80%, with a total market capitalization reaching 33.15 billion yuan. Its year-to-date increase has exceeded 300%.
The WeChat article in question attempted to link "Corning's strategic cooperation with NVIDIA" with "Tongding Interconnection's procurement of optical preforms from Corning," suggesting in its headline that Tongding Interconnection was "riding on" NVIDIA's coattails.
However, in its clarification issued on the evening of May 13, Tongding Interconnection made it clear that Corning acts as a supplier, selling optical preform products. The company procures these preforms from Corning for its own fiber production. Hainan Corning is merely a supplier of raw materials for the company's optical preforms, with an average annual procurement volume of 187.25 tons for the period 2023-2025. This procurement scale is limited, does not involve exclusive supply arrangements, and no other cooperative relationship exists between the companies.
Optical preforms are the core raw material in fiber production, occupying the top tier of the profit distribution within the entire optical communication industry chain, accounting for approximately 70% of industry profits. Tongding Interconnection's purchase of preforms from Corning represents a standard raw material procurement relationship, which is entirely different from the deep collaboration between Corning and NVIDIA focused on high-performance optical fibers and CPO technology.
Tongding Interconnection also emphasized in the announcement its future plans to reduce reliance on external procurement by increasing its own production of optical preforms.
Public information shows that Tongding Interconnection was listed on the Shenzhen Stock Exchange in October 2010 and is a leading enterprise in China's photoelectric wire and cable manufacturing sector. The company's current business is structured around three synergistic development pillars: the Photoelectric Communication segment, the Security Business segment, and the New Energy Business segment. According to its 2025 annual report, products from the Photoelectric Communication segment include optical preforms, optical fibers, optical cables, communication cables, power cables, and communication equipment. This segment generated revenue of 2.396 billion yuan in 2025, accounting for 70.19% of total revenue. The Security Business segment primarily provides network visualization products and solutions for energy storage, photovoltaic, and data center fire protection systems, achieving revenue of 669 million yuan in 2025, a year-on-year increase of 456.75%, and contributing 19.61% to total revenue, establishing itself as the company's second growth engine. The New Energy Business segment undertakes the construction, operation, and maintenance of wind power, photovoltaic power generation, and energy storage power station projects, with revenue of 43.9355 million yuan in 2025, a surge of 2104.30% year-on-year.
Analyzing the product revenue structure for 2025, optical fibers and cables contributed 183 million yuan in revenue, representing a relatively small proportion of 5.35%.
Regarding financial performance, Tongding Interconnection is showing signs of a recovery from its low point. In 2025, the company achieved operating revenue of 3.413 billion yuan, a year-on-year increase of 17.08%. However, it reported a net profit attributable to the parent company after deducting non-recurring gains and losses of -41.2698 million yuan, indicating a significant shift to a loss compared to the previous year. For the first quarter of 2026, the company's operating revenue was 1.064 billion yuan, up 61.13% year-on-year, with a net profit attributable to the parent company after deducting non-recurring gains and losses of 103 million yuan, soaring 765.14% year-on-year. The company attributed the revenue growth to increased volume and prices for its fiber products driven by market conditions, as well as the consolidation of newly acquired subsidiaries and Bengi Electric.
It is worth noting that as the company's stock price has continued to surge, Tongding Interconnection has issued multiple announcements regarding abnormal stock price fluctuations to alert investors to potential risks. The company stated that the sustainability of price fluctuations for fiber products is uncertain. The impact on future performance needs to be assessed comprehensively based on future market conditions and the company's business development, with significant uncertainty remaining. Furthermore, the expansion cycle for optical preform production capacity is lengthy, taking 1.5 to 2 years. Risks exist, including the potential for concentrated future capacity releases, a slowdown in downstream demand, a market shift to oversupply, and project returns falling short of expectations.
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