In early trading on the 30th, the CPO (Co-Packaged Optics) sector experienced a sharp decline, with Eoptolink Technology dropping over 7% and other key players like TFC Optical Communication plunging more than 10%. The ChiNext AI ETF (159363), heavily weighted in optical module leaders, saw a significant pullback after hitting record highs, briefly falling over 3% intraday with real-time turnover exceeding 300 million yuan. Investors seized the dip, resulting in a net subscription of 72 million shares.
Eoptolink released its Q3 2025 financial report, showing quarterly revenue of 6.068 billion yuan (up 152.53% YoY) and net profit of 2.385 billion yuan (up 205.38% YoY). For the first three quarters, revenue reached 16.505 billion yuan (up 221.70% YoY) and net profit stood at 6.327 billion yuan (up 284.37% YoY). The substantial growth was attributed to increased sales driven by AI computing power investments.
The question arises: Is Eoptolink's sharp adjustment due to earnings disappointment or profit-taking? Institutional views remain predominantly bullish. Huatai Securities raised its revenue and earnings forecasts for Eoptolink, projecting 2025-2027 net profits at 8.775/15.021/17.963 billion yuan (up 8%/18%/12% respectively). They maintained a "Buy" rating with a 54x PE target price of 476.71 yuan.
In related news, NVIDIA's market capitalization surpassed $5 trillion on October 29. During its GTC Keynote, NVIDIA announced that its Blackwell/Rubin chip platforms would generate over $500 billion in backlog by late 2026 (including networking revenue), implying $350-400 billion in data center revenue over the next five quarters—20% above consensus estimates of $318 billion.
Cao Xuchen, portfolio manager of the ChiNext AI ETF (159363), commented that NVIDIA's guidance confirms the optical module sector's earnings visibility through 2026, transitioning the industry from expectation-driven growth to earnings realization. Quarterly performance and overall market valuations will become key drivers for AI-related stocks, likely increasing correlation between optical modules and broader A-share sentiment.
For investors seeking optical module exposure, the ChiNext AI ETF (159363) and its feeder funds (Class A 023407, Class C 023408) offer concentrated positions in sector leaders, with over 51% allocation to optical modules. The ETF allocates 70%+ to computing power and 20%+ to AI applications, effectively capturing AI thematic trends (data as of September 30, 2025).
Among peers, the ChiNext AI ETF (159363) leads with 3.6 billion yuan in AUM and 700 million yuan average daily turnover over the past month as of October 29—the highest among seven ETFs tracking the ChiNext AI Index.
Risk Disclosure: The ETF passively tracks the ChiNext AI Index (base date: December 28, 2018; launch date: July 11, 2024). Historical index performance (2020-2024): +20.1%, +17.57%, -34.52%, +47.83%, +38.44%. Index components may change per rules, and past performance doesn't guarantee future results. Constituent stock mentions aren't investment recommendations or indicative of fund holdings. The fund carries R4 (medium-high) risk, suitable for aggressive (C4+) investors. Investment decisions bear individual responsibility.
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