In early trading on June 11th, optical communications sectors like CPO showed resilience against the broader market trend, while AI application stocks faced selling pressure. The ChiNext Artificial Intelligence sector, which has a CPO content exceeding 50%, experienced narrow-range fluctuations.
Notably, fiber optic concept stock T&S Communications Co.,Ltd. (ASX: 300570) surged over 6% against the market trend. Guangku Technology Co.,Ltd. rose more than 4%, JinXinNuo gained over 3%, and Tianfu Communication and NewEraSun also traded in positive territory.
Regarding popular ETFs, the leading ChiNext Artificial Intelligence ETF Huabao (159363), which ranks first in its category for both size and liquidity, initially rose over 1% intraday before turning negative and declining nearly 1%. Its real-time turnover exceeded 600 million yuan, with net subscriptions reaching 18 million units.
On the news front, following moves by Meta and NVIDIA, Amazon has also taken action to secure core fiber supply, indicating that the global AI computing power arms race is expanding from the computing layer to the underlying physical transmission medium. On the evening of June 8th, Amazon announced a multi-billion dollar long-term fiber procurement agreement with Corning to connect its rapidly expanding data centers in the United States.
From a fundamental perspective, GF Securities believes confidence in optical communication investments should remain firm. They suggest that market pullbacks present opportunities to focus on leading optical communication companies, advocating for fully utilizing such correction windows. For optical module manufacturers, attention should be on first-tier companies with strong material integration capabilities, as they demonstrate robust and predictable earnings performance for this year and next, and are also likely to benefit early from scale-up optical interconnect scenarios.
Concerning AI applications, Xiangcai Securities notes that A-share AI application stocks have undergone a deep correction, already fully pricing in negative expectations, and are now awaiting catalysts. The transmission path of AI investment has always been hardware first, followed by applications. If overseas application companies have begun validating their commercial models through financial reports, then the subsequent reflection and catch-up for A-share application companies essentially hinges only on the landing of domestic commercialization catalysts.
For a consolidated investment in leading CPO optical module companies, it is suggested to focus on the ChiNext Artificial Intelligence ETF Huabao (159363) and its off-exchange feeder funds (Class A 023407, Class C 023408). The underlying index has a latest optical module content exceeding 50% and a high concentration of key industry leaders, with approximately 30% of its portfolio allocated to AI applications, representing not just the core of computing power but also AI application segments.
It is noteworthy that as of June 9, 2026, the ChiNext Artificial Intelligence ETF Huabao (159363) had reached a latest size of 7.426 billion yuan, ranking first in the market for the dual-innovation AI sector. Its average daily turnover over the past six months exceeded 900 million yuan, also leading the AI sector in trading activity.
Data source: Shanghai and Shenzhen Stock Exchanges, etc.
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