The continued expansion of AI computing power infrastructure is driving demand growth across the high-speed optical communication supply chain, and Semight Instruments is experiencing explosive performance growth in the first three quarters.
On October 12, Semight Instruments Co.,Ltd. (688808) released its earnings forecast for the first three quarters of 2026, projecting net profit attributable to shareholders of the listed company to reach 1.9 billion yuan to 2.1 billion yuan, a year-on-year increase of 1,866% to 2,073%. Net profit after deducting non-recurring gains and losses is expected to be 1.8 billion yuan to 2.0 billion yuan, a year-on-year increase of 1,837% to 2,052%.
From the perspective of profit composition, the growth rates of net profit after deducting non-recurring items and net profit attributable to parent company are basically consistent, indicating that the performance growth is mainly reflected in profit after excluding non-recurring gains and losses. The specific growth drivers still need to be further analyzed in conjunction with the company's subsequent announcements regarding its business operations.
However, the comparison base for the performance change is relatively low. In the first three quarters of 2025, the company's net profit attributable to parent company was approximately 96.64 million yuan, and net profit after deducting non-recurring items was approximately 92.93 million yuan.
AI Computing Power Construction Drives Demand for High-Speed Optical Communication Testing
As demand for large model training and inference grows, data centers' need for high-speed interconnection continues to rise. High-speed optical modules such as 800G and 1.6T are accelerating their research, development, and mass production, driving growth in demand for testing equipment. Optical module and optical chip manufacturers are expanding production capacity, which further increases testing demand in areas such as research and development verification, performance testing, and quality control.
Semight Instruments' communication testing instruments and optoelectronic device testing equipment are positioned at key testing stages within the high-speed optical communication supply chain. As products iterate and production capacity expands, related testing demand is expected to grow further. However, the specific contribution of AI infrastructure construction to the company's performance still needs to be assessed in conjunction with product sales and downstream demand.
The company's announcement pointed out that this performance growth is mainly attributable to the expansion of business scale and a significant year-on-year increase in operating revenue.
Instrument and equipment companies typically need to bear relatively high upfront research and development and production investments. When revenue grows faster than fixed costs, the incremental revenue can generate a larger profit increment, creating an operating leverage effect.
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