The storylines故事线
Click a development’s source links to open the original article.点击进展下方的来源链接可打开原文。
Silicon photonics technology and products硅光技术与产品
21 · 2024-01-09 → 2026-04-26
▾
Self-developed silicon photonics chips and modules for 400G/800G/1.6T, transitioning from sampling to volume production in 2024-2025.自研硅光芯片及400G/800G/1.6T模块，2024-2025年从送样转向量产。
2024-01-09Zhongji Innolight stated that current production capacity is sufficient to meet orders, and capacity is continuously being built to address future order growth; the company has self-developed CW laser chips and 2.5D/3D packaging technology for silicon photonics, LPO, and CPO.中际旭创表示目前产能能满足订单需求，并持续建设以应对后续增长；公司拥有自研CW光源激光器芯片和2.5D/3D封装技术布局。
2024-01-21Zhongji Innolight confirmed it has developed and launched 400G and 800G silicon photonics modules using self-developed silicon photonics chips, after years of R&D in the silicon photonics field.中际旭创确认已在硅光领域研发多年，并推出了搭载自研硅光芯片的400G和800G硅光模块。
2024-02-25Zhongji Innolight confirms it has developed and launched 400G and 800G silicon photonics modules with self-developed silicon photonics chips.中际旭创确认已推出搭载自研硅光芯片的400G和800G硅光模块。
2024-03-24Zhongji Innolight demonstrated at OFC 2024 a PCIe Gen.6 OSFP optical module using silicon photonics + LPO, achieving 512 Gbps per lane, enabling chip-to-chip interconnect applications.中际旭创在OFC 2024上展示了采用硅光+LPO的PCIe Gen.6 OSFP光模块，每通道512Gbps，打开了芯片到芯片互联应用窗口。
2024-03-26At OFC 2024 (Mar 26-28, San Diego), Zhongji Innolight demonstrated 800G and 1.6Tbps silicon photonics module solutions for AI and data center applications.在OFC 2024（3月26-28日，圣地亚哥）上，中际旭创演示了面向人工智能和数据中心应用的800G和1.6Tbps硅光模块解决方案。
2024-04-14Zhongji Innolight stated its silicon photonics products and core technologies are all self-developed.中际旭创表示其硅光产品以及核心技术均源于自主研发。
2024-04-30Zhongji Innolight stated it has 1.6T silicon photonics solutions and self-developed silicon photonics chips; coherent modules already sold to overseas data center customers.中际旭创表示已有1.6T硅光解决方案和自研硅光芯片；相干光模块已向海外数据中心客户销售。
2024-05-26Zhongji Innolight disclosed that it is shipping 400G and 800G silicon photonics optical modules, with volumes expected to continue increasing.中际旭创披露已有400G和800G硅光产品出货，并预计持续上量。
2024-07-15Disclosed that 400G and 800G silicon photonics modules of certain models have begun volume shipments to customers, and 800G and 1.6T silicon photonics modules have been sent to more customers for testing.披露目前已有400G和800G部分型号硅光模块开始给客户批量出货，同时向更多客户送测了800G和1.6T硅光模块。
2024-08-26Silicon photonics products have seen significant growth year-over-year, transitioning from sampling and market introduction last year to volume production this year; continued volume ramp-up is expected.硅光产品从去年的送测和市场导入到今年的逐步上量后，相比去年有较大增长；预计将持续上量。
2024-09-23Company confirmed that both traditional and silicon photonics solutions are mainstream directions for 1.6T products.公司确认传统方案和硅光方案都是1.6T产品的主流方向之一。
2024-10-23Zhongji Innolight plans to increase market adoption and shipment proportion of silicon photonics modules, especially for 800G and 1.6T products, citing BOM cost advantages over traditional EML solutions.中际旭创计划进一步加大硅光模块的市场导入和出货比例，特别是在800G和1.6T产品上，称硅光方案在BOM成本上比传统EML方案有优势。
2024-10-23Zhongji Innolight disclosed that major customers have given positive feedback on its silicon photonics products and are expected to adopt them in 2025.中际旭创透露，主要客户对公司的硅光产品反馈不错，预计主要客户将在2025年导入其硅光模块。
2025-02-09Zhongji Innolight confirms that its silicon photonics optical modules have been in mass delivery for some time.中际旭创确认硅光模块早已批量交付。
2025-03-09Zhongji Innolight disclosed that its 3.2T silicon photonic module product is under pre-research.中际旭创披露其3.2T硅光模块产品正在预研中。
2025-07-20Confirmed that silicon photonics products have been shipping in volume for some time and their revenue share is continuously increasing; CPO is a key R&D focus area.确认硅光产品早已批量出货，产品占比持续提升；CPO是公司重点研发布局的领域之一。
2025-09-07Zhongji Innolight confirmed that its silicon photonic chips are self-developed, and silicon photonic modules offer higher integration and lower BOM costs.中际旭创确认硅光芯片为自主研发，硅光模块集成度更高、BOM成本更有优势。
2025-12-08Zhongji Innolight is one of the few optical module vendors whose both EML and silicon photonics solutions have passed key customer verification; it also develops high-end silicon photonics chips in-house.中际旭创是少数EML与硅光方案均获得重点客户验证通过的光模块厂商，且自研高端硅光芯片。
2026-02-27Silicon photonics penetration increased in Q4 2025: 800G silicon photonics shipment share rose further, and 1.6T silicon photonics share was higher than 800G, significantly boosting gross margin.2025年四季度硅光占比持续提升：800G硅光出货量占比进一步提升，1.6T硅光占比高于800G，对毛利率提升起到显著作用。
2026-03-01Zhongji Innolight stated that its silicon-photonics optical circuit switch product exhibited at OFC 2025 is progressing steadily.中际旭创表示，在OFC2025展出的硅光OCS交换机产品仍在稳步推进中。
2026-04-26Disclosed that the silicon photonics solution accounts for more than half of 800G and 1.6T product shipments, and the proportion is expected to continue to rise; both silicon photonics and EML solutions will be maintained as important technology paths.披露800G和1.6T产品中硅光方案占比超过一半，比重有望持续提升；硅光方案和EML方案都是重要技术方向，未来都会持续布局。
800G optical module ramp800G光模块放量
53 · 2024-01-14 → 2026-04-23
▾
800G optical module orders and shipments grew sequentially from Q2 2023, becoming the main revenue driver in 2024-2025.800G光模块订单和出货自2023年Q2起环比增长，2024-2025年成为主要收入驱动力。
2024-01-14Zhongji Innolight stated that the widespread use of high-bandwidth GPUs in computing clusters is beneficial for increasing 800G optical module supporting demand.中际旭创表示高带宽GPU在算力集群中大量使用有利于提升800G光模块配套需求。
2024-01-26Zhongji Innolight released 2023 annual performance forecast: net profit attributable to shareholders expected at RMB 2.0-2.3 billion, up 63.4%-87.91% YoY, driven by increased shipments of 800G and other high-end products.中际旭创发布2023年度业绩预告，预计归母净利润20-23亿元，同比增长63.4%-87.91%，受益于800G等高端产品出货比重显著增加。
2024-01-29Zhongji Innolight disclosed that 800G optical module orders and shipments maintained sequential quarterly growth since Q2 2023, with Q4 2023 showing particularly strong acceleration; DSP and EML core raw material shortages eased in Q3 and Q4 2023.中际旭创披露800G光模块自2023年二季度起量，每季度订单和出货量环比增长，四季度增速尤为明显；DSP和EML等核心原材料在Q3和Q4得到缓解。
2024-02-01Zhongji Innolight expects 2023 net profit of 2.0-2.3 billion yuan, up 63.40%-87.91% YoY, driven by AI-related 400G/800G optical module shipments.中际旭创预计2023年归母净利润20-23亿元，同比增长63.40%-87.91%，受益于AI相关的400G/800G光模块出货。
2024-02-28Zhongji Innolight releases 2023 annual results: revenue 10.725 billion yuan (+11.23% YoY), net profit 2.181 billion yuan (+78.19% YoY), driven by 800G high-end product shipments.中际旭创发布2023年度业绩快报：营收107.25亿元（同比+11.23%），净利润21.81亿元（同比+78.19%），受800G高端产品出货驱动。
2024-02-29Zhongji Innolight management expects Q1 2024 orders and shipments to maintain positive sequential growth vs Q4 2023 for both 800G and 400G; silicon photonics modules expected to further scale in 2024.中际旭创管理层预计2024年一季度800G和400G订单及出货量环比2023年四季度保持较快增长；硅光模块2024年有望进一步放量。
2024-03-07Zhongji Innolight's 2023 annual report shows Q4 revenue 3.695 billion yuan (+33.06% YoY), non-GAAP net profit 881 million yuan (+241.47% YoY), both record highs, driven by 800G high-end optical module shipments.中际旭创2023年报显示四季度营收36.95亿元（同比+33.06%），扣非净利润8.81亿元（同比+241.47%），均创历史新高，受益于800G等高端光模块出货。
2024-04-14Zhongji Innolight reported that its 800G optical module orders are currently full.中际旭创表示目前公司800G光模块订单饱满。
2024-04-21Zhongji Innolight reported Q1 2024 net profit of 1.009 billion yuan, up 303.84% YoY; revenue 4.843 billion yuan, up 163.59% YoY.中际旭创公布2024年第一季度净利润10.09亿元，同比增长303.84%；营业收入48.43亿元，同比增长163.59%。
2024-04-22Zhongji Innolight disclosed that 800G demand remains very strong; customers have not cut orders; EML supply is tight globally.中际旭创披露800G需求仍然非常旺盛，客户没有砍单；全球EML供应偏紧张。
2024-04-30Zhongji Innolight expects Q2 2024 800G product shipments to increase sequentially.中际旭创预计2024年第二季度800G产品出货量环比进一步增长。
2024-05-02Zhongji Innolight reported Q1 2024 revenue of 4.843 billion yuan, up 163.59% YoY; net profit of 1.009 billion yuan, up 303.84% YoY, driven by strong 400G and 800G optical module demand.中际旭创公布2024年一季度营收48.43亿元，同比增长163.59%；归母净利润10.09亿元，同比增长303.84%，受400G和800G光模块强劲需求推动。
2024-06-02800G product demand is strong and expected to continue ramping up; 1.6T product is in market introduction phase, expected to gradually ramp up from H2 2024 to 2025.800G产品需求旺盛，预计将持续上量；1.6T产品正处于市场导入阶段，预计今年下半年到明年将逐步上量。
2024-06-02Orders are full and capacity utilization is sufficient as of April 2024.目前公司在手订单饱满、产能利用率充足。
2024-06-10800G product has been mass-produced since 2023 and became the main product; expected to continue ramping up in 2024.800G产品早已量产，2023年已成为公司主力产品，预计2024年将持续上量。
2024-06-17Industry customers issued 2025 800G demand guidance showing significant growth vs 2024; 1.6T expected to start shipping around Q4 2024; new 800G mainly for Ethernet data centers, mostly single-mode; silicon photonics module shipment share expected to rise in 2025.行业客户下达了2025年800G需求指引，相比2024年有显著增长；1.6T预计今年Q4左右开始出货；新增800G主要用于构建以太网数据中心，基本以单模为主；预计明年硅光模块出货比例将提升。
2024-07-14Announced H1 2024 net profit forecast of 2.15-2.50 billion yuan, up 250.3%-307.33% YoY, driven by rapid growth in 800G/400G high-end product shipments.发布2024年上半年业绩预告，预计归母净利润21.5-25亿元，同比增长250.3%-307.33%，得益于800G/400G等高端产品出货比重快速增长。
2024-07-22In a conference call, stated that June overall revenue and shipments continued sequential growth; overseas factory shipments increased sequentially, mainly 800G and 400G; Q3 shipments expected to maintain sequential growth.在电话会议中表示，6月整体收入和出货量继续保持环比增长；海外工厂出货量环比提升，以800G和400G为主；预计Q3出货量将继续环比增长。
2024-08-06800G and 400G optical module demand remains very strong, driven by AI data centers; key customers have placed additional orders or expedited deliveries. 1.6T optical module samples have been sent to customers as planned, with delivery expected to begin in Q4 2024 and volume production ramping up next year.800G和400G光模块需求仍然非常旺盛，主要源自AI数据中心需求；重点客户近期有加单或催货情况。1.6T光模块已按计划给客户送测，预计2024年Q4开始交付、明年陆续上量。
2024-08-06Company has received orders for H2 2024 and has negotiated supply delivery plans for next year with customers, including pricing and monthly shipment volumes.今年下半年的订单已陆续收到，且目前已与客户协商好明年的供应交付计划，包括价格、每月出货量等。
2024-08-25Released 2024 semi-annual report: revenue reached 10.799 billion yuan, up 169.70% YoY; net profit attributable to shareholders was 2.358 billion yuan, up 284.26% YoY. Growth driven by strong demand for 400G and 800G optical modules from AI data centers.发布2024年半年度报告：营业收入107.99亿元，同比增长169.70%；归母净利润23.58亿元，同比增长284.26%。业绩增长得益于AI数据中心对400G和800G光模块的强劲需求。
2024-08-26800G EML, LPO, and silicon photonics solutions have made good progress in market introduction; 800G products have received certification from multiple data center customers and are expected to ramp up from H2 2024 to 2025.800G EML方案、LPO方案和硅光方案在市场导入方面取得不错进展；800G产品已获得多个数据中心客户认证，有望从2024年下半年到2025年逐步上量。
2024-08-29H2 2024 high-speed optical module orders are very full and in a continuous growth phase; company expects 800G demand to increase further in 2025 and 1.6T to gradually ramp up next year.2024年下半年高速光模块订单非常饱满，仍处于持续增长阶段；预计2025年800G需求将持续提升，1.6T将在明年逐步上量。
2024-10-22Zhongji Innolight reported Q3 2024 revenue of RMB 6.514 billion, up 115.25% YoY; net profit of RMB 1.394 billion, up 104.4% YoY. For the first three quarters, revenue was RMB 17.313 billion, up 146.26% YoY; net profit was RMB 3.753 billion, up 189.59% YoY. Growth driven by increased sales of 800G and 400G high-end optical modules due to AI infrastructure buildout.中际旭创公布2024年第三季度营收65.14亿元，同比增长115.25%；净利润13.94亿元，同比增长104.4%。前三季度营收173.13亿元，同比增长146.26%；净利润37.53亿元，同比增长189.59%。增长主要因算力基础设施建设带来800G和400G高端光模块销售大幅增加。
2025-01-10Company denied customer order cut rumors; stated 800G demand is strong in 2025 with robust order growth, and CSP customers are building Ethernet data centers with large-scale 800G procurement.公司否认客户砍单传闻；表示2025年800G需求旺盛，订单增长强劲，CSP客户组建以太网数据中心，大规模采购800G。
2025-01-24FY2024 net profit attributable to shareholders forecast at RMB 4.6-5.8 billion, up 111.64%-166.85% YoY, driven by strong sales of 800G and 400G high-end optical modules.2024年归母净利润预告46-58亿元，同比增长111.64%-166.85%，得益于800G和400G高端光模块销售大幅增加。
2025-01-26Customer orders remain saturated; Q1 2025 order volume continues to grow sequentially, and Q1 shipments are expected to maintain growth.客户订单饱和，2025年一季度订单量环比继续增长，预计一季度出货量保持增长。
2025-02-28Zhongji Innolight releases 2024 annual performance: revenue of RMB 23.861 billion, up 122.63% YoY; net profit attributable to shareholders of RMB 5.171 billion, up 137.90% YoY, driven by strong sales of 800G and 400G high-end optical modules.中际旭创发布2024年度业绩快报：营业总收入238.61亿元，同比增长122.63%；归母净利润51.71亿元，同比增长137.90%，主要得益于800G和400G高端光模块销售大幅增加。
2025-03-03Zhongji Innolight released its 2024 annual performance report: revenue of 23.861 billion yuan, up 122.63% YoY; net profit attributable to shareholders of 5.171 billion yuan, up 137.90% YoY; driven by strong sales of 800G and 400G high-end optical modules.中际旭创发布2024年度业绩快报：营收238.61亿元，同比增长122.63%；归母净利润51.71亿元，同比增长137.90%；得益于800G和400G高端光模块销售大幅增加。
2025-04-09Q1 2025 net profit forecast: RMB 1.4-1.7 billion, up 38.71%-68.44% YoY, driven by strong 800G/400G optical module sales from AI infrastructure buildout.2025年一季度净利润预告：14-17亿元，同比增长38.71%-68.44%，得益于AI基础设施建设带来的800G/400G光模块销售大幅增加。
2025-04-20Q1 2025 revenue RMB 6.674 billion, +37.82% YoY; net profit RMB 1.583 billion, +56.83% YoY; net cash flow from operations RMB 2.164 billion, +232.7% YoY.2025年一季度营业收入66.74亿元，同比增长37.82%；净利润15.83亿元，同比增长56.83%；经营活动现金流净额21.64亿元，同比增长232.7%。
2025-04-21800G shipments in Q1 2025 grew QoQ and YoY; 1.6T optical modules expected to gradually ramp up from Q2 to Q3 2025.2025年一季度800G出货量环比和同比均有明显增长；1.6T光模块预计二季度到三季度逐步起量。
2025-04-30Company executives stated domestic and overseas AI compute demand shows no signs of slowing; ample orders in hand; 2025 revenue expected mainly from 1.6T/800G/400G products.公司高管表示海内外算力需求暂未见放缓，在手订单充足；2025年收入预计主要来自1.6T/800G/400G产品。
2025-06-04Zhongji Innolight reported Q1 2025 revenue of 6.674 billion yuan (+37.82% YoY) and net profit of 1.583 billion yuan (+56.83% YoY).中际旭创公布2025年一季度营业收入66.74亿元（同比增长37.82%），净利润15.83亿元（同比增长56.83%）。
2025-06-12Institutional survey: Overseas customers' 800G module demand expected to grow significantly in 2026; some customers have given 1.6T deployment plans, with rapid growth expected in 2026.机构调研：预计海外客户2026年800G光模块需求大幅增长；部分客户已给出1.6T部署计划，预计2026年快速增长。
2025-07-15Released 2025 H1 performance forecast: net profit attributable to shareholders 36-44 billion yuan, +52.64%-86.57% YoY; optical module business net profit (pre-equity incentive costs) ~40-49 billion yuan, +57.02%-92.35% YoY. Growth driven by 800G and other high-end optical module sales.发布2025年半年度业绩预告：归母净利润36-44亿元，同比增长52.64%-86.57%；光模块业务合并净利润（扣除股权激励费用前）约40-49亿元，同比增长57.02%-92.35%，增长源于800G等高端光模块销售大幅增加。
2025-07-15In a post-earnings investor call, management stated that 1.6T optical modules have passed certification by North American cloud customers and are in small-batch delivery; 800G revenue share and silicon photonics share increased in Q2, driving gross margin improvement.在业绩发布后的投资者电话会议上，管理层表示1.6T光模块已通过北美云厂商认证并小批量交付；Q2 800G收入占比和硅光占比提升，推动毛利率改善。
2025-07-15Management guided that 800G demand will further grow in H2 2025, and 1.6T demand will gradually increase; some customers have started releasing 2026 demand guidance, indicating overall demand will be better than 2025.管理层指引2025年下半年800G需求将进一步增长，1.6T需求逐步提升；部分客户已开始释放2026年需求指引，整体需求预计好于2025年。
2025-08-262025 H1 revenue reached RMB 14.789 billion, +36.95% YoY; net profit RMB 3.995 billion, +69.40% YoY; proposed dividend of RMB 4 per 10 shares.2025年上半年营收147.89亿元，同比增长36.95%；净利润39.95亿元，同比增长69.40%；拟每10股派发现金红利4元。
2025-08-272025 H1 optical module production 9.4 million units, sales 9.05 million units; revenue from optical modules RMB 14.432 billion, gross margin 39.96%.2025年上半年光模块产量940万只，销量905万只；光模块营业收入144.32亿元，毛利率39.96%。
2025-08-27800G optical module shipments grew rapidly in Q2 2025, with silicon photonics proportion also rising quickly; 400G modules also in demand.2025年第二季度800G光模块出货量快速增长，其中硅光比例快速提升；400G光模块亦有需求。
2025-09-02Zhongji Innolight reported 1H25 revenue of RMB 14.789 billion (+36.95% YoY) and net profit of RMB 3.995 billion (+69.40% YoY); 2Q25 revenue of RMB 8.115 billion (+36.25% YoY, +21.58% QoQ) and net profit of RMB 2.412 billion (+78.80% YoY, +52.40% QoQ). Gross margin for 1H25 was 39.33% (+6.20 ppts YoY), and net margin was 28.69% (+6.40 ppts YoY).中际旭创2025年上半年营收147.89亿元（同比+36.95%），净利润39.95亿元（同比+69.40%）；二季度营收81.15亿元（同比+36.25%，环比+21.58%），净利润24.12亿元（同比+78.80%，环比+52.40%）。上半年毛利率39.33%（同比+6.20个百分点），净利率28.69%（同比+6.40个百分点）。
2025-10-30Q3 2025 revenue 10.216 billion yuan (+56.83% YoY), net profit 3.137 billion yuan (+124.98% YoY); first 9 months revenue 25.005 billion yuan (+44.43%), net profit 7.132 billion yuan (+90.05%). Growth driven by 800G and high-end optical module sales from AI infrastructure buildout.2025年第三季度营收102.16亿元（同比+56.83%），净利润31.37亿元（同比+124.98%）；前三季度营收250.05亿元（同比+44.43%），净利润71.32亿元（同比+90.05%）。增长主要源于算力基础设施建设带动800G等高端光模块销售增加。
2025-11-01Zhongji Innolight reported Q3 2025 revenue of RMB 10.216 billion (YoY +56.83%, QoQ +25.89%) and net profit of RMB 3.137 billion (YoY +124.98%, QoQ +30.04%); 9M 2025 revenue RMB 25.005 billion (YoY +44.43%), net profit RMB 7.132 billion (YoY +90.05%).中际旭创发布2025年三季报：Q3营收102.16亿元（同比+56.83%，环比+25.89%），净利润31.37亿元（同比+124.98%，环比+30.04%）；前三季度营收250.05亿元（同比+44.43%），净利润71.32亿元（同比+90.05%）。
2025-12-09Zhongji Innolight reported Q1-Q3 2025 revenue of 25.005 billion yuan and net profit of 7.132 billion yuan, both exceeding full-year 2024 figures; 800G orders have been releasing since Q1 2025 with quarterly growth, and silicon photonics ratio and yield are improving.中际旭创2025年前三季度营业收入250.05亿元，归母净利润71.32亿元，双双超2024年全年；2025年一季度起800G订单持续释放，出货量季度环比增长，硅光比例和良率不断提升。
2026-01-30Zhongji Innolight forecasts 2025 net profit attributable to shareholders of 9.8-11.8 billion yuan, up 89.50%-128.17% year-on-year, driven by strong AI computing infrastructure demand and higher proportion of high-speed optical modules.中际旭创预计2025年归母净利润98-118亿元，同比增长89.50%-128.17%，受益于AI算力基础设施强劲投入和高速光模块占比提高。
2026-02-27Zhongji Innolight released 2025 annual performance express: revenue 38.24 billion yuan, +60.25% YoY; net profit 10.799 billion yuan, +108.81% YoY; basic EPS 9.80 yuan.中际旭创发布2025年度业绩快报：营业收入382.4亿元，同比增长60.25%；净利润107.99亿元，同比增长108.81%；基本每股收益9.80元。
2026-02-271.6T optical modules began formal shipments to key customers in Q3 2025, ramped up rapidly in Q4 2025, marking the start of the 1.6T volume era; 800G shipments continued sequential growth in Q4.1.6T光模块于2025年三季度开始正式向重点客户出货，2025年四季度上量更加迅速，开启了1.6T上量时代；800G出货量在四季度持续环比增长。
2026-02-27Q4 2025 single-quarter revenue approximately 13.235 billion yuan, net profit approximately 3.667 billion yuan, with sequential profit growth driven by high-end product volume.2025年第四季度单季营收约132.35亿元，归母净利润约36.67亿元，高端产品放量带动盈利环比增长。
2026-03-30Zhongji Innolight reported 2025 annual results: revenue 38.24 billion yuan, +60.25% YoY; net profit 10.797 billion yuan, +108.78% YoY; proposed dividend of 10 yuan per 10 shares.中际旭创发布2025年年报：营业收入382.4亿元，同比增长60.25%；净利润107.97亿元，同比增长108.78%；拟每10股派发现金红利10元。
2026-04-01Released 2025 annual report: revenue 38.24 billion yuan (+60.25% YoY), net profit 10.797 billion yuan (+108.78% YoY); optical module capacity 28.06 million units (+34.4%), output 23.76 million units (+54.69%), sales 21.09 million units (+44.55%); overseas revenue 34.637 billion yuan (+67.2%), accounting for 90.58% of total revenue.发布2025年年报：营收382.4亿元（同比+60.25%），净利润107.97亿元（同比+108.78%）；光模块产能2806万只（+34.4%）、产量2376万只（+54.69%）、销量2109万只（+44.55%）；境外营收346.37亿元（+67.2%），占总营收90.58%。
2026-04-16Released 2026 Q1 report: revenue 19.496 billion yuan (+192.12% YoY), net profit 5.735 billion yuan (+262.28% YoY), gross margin 46.06% (+9.36pp YoY); R&D expenses 645 million yuan (+122.05% YoY).发布2026年一季报：营收194.96亿元（同比+192.12%），净利润57.35亿元（同比+262.28%），毛利率46.06%（同比+9.36个百分点）；研发费用6.45亿元（同比+122.05%）。
2026-04-23Stock price broke through 919.99 yuan intraday, with total market capitalization briefly exceeding 1 trillion yuan, becoming the second computing hardware stock after Foxconn Industrial Internet to reach this milestone.盘中股价突破919.99元，总市值短暂突破1万亿元，成为继工业富联后第二只市值破万亿的算力硬件股。
Overseas subsidiary capital increase (Singapore InnoLight)海外子公司增资（新加坡InnoLight）
1 · 2024-01-17
▾
Singapore InnoLight received USD 6.50/share capital increase from CDH, Teda, etc. to fund overseas expansion.新加坡InnoLight获CDH、泰达等按6.50美元/股增资，用于海外扩张。
2024-01-17Zhongji Innolight's controlling subsidiary InnoLight Technology Pte. Ltd. (Singapore InnoLight) received a capital increase of USD 6.50 per share from CDH Global Paper, Charming Time, Teda, and Dazzling Dream, totaling 18,153,846 new shares via cash and debt-to-equity swap, to fund overseas expansion and capacity construction.中际旭创控股孙公司新加坡旭创获CDH Global Paper、Charming Time、Teda及Dazzling Dream以现金及债转股方式增资，合计认购18,153,846股，增资价6.50美元/股，用于海外业务拓展及产能建设。
1.6T optical module development and launch1.6T光模块研发与发布
39 · 2024-01-21 → 2026-05-15
▾
1.6T product launched at OFC 2023, entered customer sampling in 2024, and began small-batch shipments in late 2024, ramping through 2025-2026.1.6T产品于2023年OFC发布，2024年进入客户送样，2024年底开始小批量出货，2025-2026年持续放量。
2024-01-21Zhongji Innolight stated that it released a 1.6T optical module product at OFC in March 2023, and will continue to refine it based on customer demand and prepare for mass production.中际旭创表示已于2023年3月在OFC上发布1.6T光模块产品，后续将根据客户需求持续完善并做好量产准备。
2024-01-29Zhongji Innolight stated in an institutional call that AI customers are expected to start purchasing and deploying 1.6T optical modules as early as the second half of 2024, and that 400G and 800G silicon photonics modules have opportunities to further increase shipment volumes and proportions in 2024.中际旭创在机构电话会议上表示，预计AI大客户最快在2024年下半年开始采购和部署1.6T光模块，2024年400G和800G硅光模块有望进一步放量和扩大出货比例。
2024-02-21Zhongji Innolight states 400G and 800G are mainstream products; 1.6T product was launched in 2023, but volume ramp-up needs time.中际旭创表示400G和800G是主流产品；1.6T产品已于2023年发布，但上量需要时间。
2024-03-31Zhongji Innolight stated that 1.6T optical module volume production depends on downstream customer demand progress; customer new product launches (e.g., NVIDIA GB200) benefit optical module iteration and demand growth.中际旭创表示1.6T光模块起量要看下游客户需求进展；客户发布新产品（如英伟达GB200）有利于光模块迭代和需求增长。
2024-04-14Zhongji Innolight said the volume ramp-up of 1.6T optical modules depends on customer demand.中际旭创表示1.6T光模块的起量取决于客户的需求。
2024-04-22Zhongji Innolight disclosed that 1.6T optical modules have entered sample testing with key overseas customers; certification expected in H2 2024, orders in 2025.中际旭创披露1.6T光模块已进入海外重点客户送样测试环节，预计下半年完成认证，2025年下单。
2024-05-08Zhongji Innolight's 1.6T optical module entered sample testing with overseas key customers, expected to complete certification in H2 2024 and begin orders; 1.6T volume ramp expected from late 2024 to 2025.中际旭创的1.6T光模块已进入海外重点客户的样品测试环节，预计2024年下半年完成认证并进入客户下单环节，2024年末至2025年逐步上量。
2024-06-03Company has developed a 1.6T silicon photonics solution, currently in market introduction phase.公司已开发了1.6T硅光解决方案，目前正处于市场导入阶段。
2024-06-301.6T product is currently in market introduction phase.1.6T目前正处于市场导入阶段。
2024-07-15Expects 1.6T optical modules to enter customer ordering phase and achieve mass production delivery in 2025.预计1.6T光模块有望进入客户下单环节，并在2025年实现量产交付。
2024-08-291.6T optical modules are undergoing normal market introduction and are expected to begin volume production and shipments by the end of this year, with gradual ramp-up; no delay in demand has been observed.1.6T光模块按照正常进度正在进行市场导入，预计今年末开始逐步量产出货并逐步上量，目前没有看到需求推迟的情况。
2024-09-27Analyst report expects Zhongji Innolight to be the first to mass-produce and launch 1.6T high-speed optical modules in Q4 2024.分析师报告预计中际旭创将在2024年第四季度率先量产推出1.6T高速光模块产品。
2024-10-23Zhongji Innolight stated in investor relations that 800G demand will be strong in 2025, and new 1.6T products will gradually ramp up. The company is pre-researching 3.2T optical modules.中际旭创在投资者关系活动中表示，2025年800G需求强劲，新增1.6T产品将逐步上量。公司正在预研3.2T光模块。
2024-10-28Zhongji Innolight stated on its interactive platform that 1.6T products are expected to start shipping in Q4 2024, and the company's order book is full.中际旭创在互动平台表示，1.6T产品预计2024年第四季度开始出货，公司目前订单饱满。
2024-11-25Zhongji Innolight stated that its 1.6T product is currently in the pre-shipment preparation stage.中际旭创表示其1.6T产品目前尚在出货前的准备阶段。
2024-12-15Zhongji Innolight announced that its 1.6T optical module product has begun small-batch shipments in December 2024, with continuous shipments expected from January 2025.中际旭创在互动平台表示，公司1.6T光模块产品已于近期开始小批量出货，预计2025年1月起将持续出货。
2025-01-10800G silicon photonics will start volume production in 2025; 1.6T optical modules will ramp up quarter by quarter; 3.2T technology is under pre-research, expected to enter volume production in 2026-2027.800G硅光方案将在2025年开始上量；1.6T光模块逐季上量；3.2T技术正在预研中，预计2026-2027年进入上量阶段。
2025-01-261.6T shipments expected to grow quarter-over-quarter in 2025; Q2 shipments will see significant improvement vs Q1. Two major customers will deploy 1.6T in 2025, with more CSP customers expected in 2026-2027.预计1.6T在2025年逐季环比增长，二季度出货量比一季度明显提升；2025年两大重点客户率先使用1.6T，明后年更多CSP客户部署。
2025-02-09Zhongji Innolight states that its 1.6T optical module products have begun shipments and are expected to ramp up gradually in 2025.中际旭创表示1.6T光模块产品已有出货，预计2025年将逐步起量。
2025-03-02Zhongji Innolight confirmed that its 1.6T optical module product has passed customer certification and is expected to gradually ramp up production starting from 2025.中际旭创确认其1.6T光模块产品已获客户认证通过，预计将从2025年起逐步上量。
2025-04-061.6T product shipments will increase from Q2, with larger deployment expected in H2 2025; overall 2025 demand for 1.6T has decreased compared to earlier expectations due to customer deferrals.1.6T产品从二季度开始出货量增加，更大量部署预计在2025年下半年；由于客户需求递延，2025年1.6T整体需求较此前预期有所减少。
2025-05-251.6T optical module product has started small-batch shipments, with volumes expected to gradually increase; main demand currently comes from overseas customers.1.6T光模块产品已开始小批量出货，出货量预计将逐渐增多；目前主要需求来自海外客户。
2025-06-08Company stated order backlog is full; 1.6T silicon photonics module yield and LPO product shipment details not disclosed.公司表示订单饱满；未披露1.6T硅光光模块良品率和LPO产品出货详情。
2025-06-08Company confirmed 1.6T product shipments will continue to grow in Q2 2025.公司确认1.6T产品在2025年二季度出货量将持续增长。
2025-06-22Company stated current shipments are mainly 400G and 800G products; 1.6T product shipments are continuously ramping up.公司表示目前仍以400G和800G产品为主，1.6T产品出货正在持续上量。
2025-08-271.6T optical modules began gradual shipment in Q2 2025; mass production and volume shipment expected in the next two quarters.1.6T光模块在2025年第二季度已开始逐步出货，预计未来两个季度将持续量产和规模出货。
2025-09-07Zhongji Innolight announced that its 1.6T products have passed key customer verification and entered mass production; 3.2T products are under R&D.中际旭创宣布1.6T产品已通过重点客户验证并进入量产阶段；3.2T产品处于研发阶段。
2025-10-12Company denied receiving any order cancellation notice for 1.6T optical modules from customers, responding to market rumors.公司回应市场传闻，表示未接到客户关于1.6T光模块的砍单通知。
2025-10-26Company disclosed that 1.6T optical module shipments are continuously ramping up, mainly for AI data center applications.公司透露1.6T光模块产品出货量正持续提升，主要应用于AI数据中心领域。
2025-10-31Institutional call: 1.6T deployments began in Q3 with increasing orders from key customers; mass deployment by other key customers expected in 2026-2027.机构电话会议：三季度重点客户开始部署1.6T并持续增加订单；预计2026-2027年其他重点客户也将大规模部署1.6T。
2025-11-011.6T optical modules based on silicon photonics technology have entered mass production, using 3nm DSP chips, power consumption below 12W, single-channel speed 200Gbps.基于硅光技术的1.6T光模块已进入量产阶段，采用3nm DSP芯片，功耗低于12W，单通道速度达200Gbps。
2025-11-02Zhongji Innolight disclosed that its 1.6T optical module products include both silicon photonics and EML solutions.中际旭创披露1.6T光模块产品同时采用硅光和EML两种技术方案。
2025-11-23Management stated that 1.6T products are continuously ramping up, 3.2T products are under R&D and refinement; orders are full and capacity utilization is sufficient.管理层表示1.6T产品持续起量，3.2T产品尚在研发完善中；订单饱满，产能利用率充足。
2025-12-07Zhongji Innolight disclosed that its 3.2T optical module product is still under R&D and refinement.中际旭创披露其3.2T光模块产品尚在研发和完善中。
2026-02-27Management expects 1.6T silicon photonics demand in 2026 to grow significantly from 2025 as key customers begin 1.6T deployment.管理层预计，随着重点客户在2026年开始1.6T部署，2026年1.6T硅光需求规模较2025年将出现较大增长。
2026-03-01Zhongji Innolight stated that orders for 1.6T products are continuously being obtained, and capacity is being planned and built.中际旭创表示，1.6T产品订单在持续获取，同时产能也在持续规划和建设中。
2026-04-17At the institutional phone conference, stated that 1.6T module shipments are expected to maintain sequential growth in the coming quarters; NPO products are expected to enter mass production in 2027, with CSP customers already giving clear demand guidance.在机构电话会议上表示，未来几个季度1.6T产品出货有望保持环比增长；NPO产品预计2027年量产，已有CSP客户给出明确需求指引。
2026-04-24At the performance briefing, stated that 1.6T optical modules are being delivered with increasing volume; 2T, NPO, and XPO products are expected to begin mass production after technical refinement and customer verification; shipments of 1.6T will continue to increase in the next three quarters.在业绩说明会上表示，1.6T光模块正在持续上量交付；2T、NPO、XPO等产品预计在技术完善和客户验证后量产；未来三个季度1.6T出货量将持续增加。
2026-05-15Management disclosed that 1.6T optical modules are already in volume production and ramping up, 3.2T products are under R&D, capacity utilization is high and expanding, and gross margin is expected to improve steadily.管理层透露1.6T光模块已批量出货并持续起量，3.2T产品尚在研发完善中，产能利用率充足并持续扩建，毛利率有望稳中有升。
Pricing and gross margin management定价与毛利率管理
5 · 2024-01-29 → 2026-05-17
▾
Annual price reductions expected but within reasonable range; gross margin improved via product mix shift and silicon photonics adoption.年度降价在合理范围内，通过产品组合优化和硅光采用提升毛利率。
2024-01-29Zhongji Innolight stated that 2023 high-end product gross margins were strong, but 2024 will face initial price pressure from new annual pricing; the company plans to optimize cost structure through product version iteration, yield improvement, and production efficiency.中际旭创表示2023年高端产品毛利率强劲，但2024年因执行新年度价格，年初毛利承压；将通过产品版本迭代、良率提升和生产运营降本优化全年毛利率。
2025-01-10Annual product price reduction in 2025 remains within a reasonable range; no extreme price cuts observed. Silicon photonics ratio increase is a key cost-reduction measure.2025年产品年降幅度保持在合理范围内，没有极端降价情况；硅光方案比例提升是降成本的重要手段。
2025-10-31Institutional call: Gross margin expected to further improve due to product mix shift to 800G/1.6T, rising silicon photonics adoption in 800G/1.6T products, and yield improvement.机构电话会议：毛利率有望进一步提升，得益于产品结构优化（800G/1.6T占比提升）、硅光方案在800G/1.6T产品中比例提升以及良率增长。
2026-04-12Disclosed that the gross margin of optical module products in 2025 was 42.61%, significantly up from 34.65% in 2024; the company will continue to optimize product mix and reduce costs to maintain stable or rising gross margins.披露2025年光模块产品毛利率为42.61%，较2024年的34.65%明显提升；未来将继续优化产品结构和降本增效，力争毛利率稳中有升。
2026-05-17Stated that 2025 gross margin improved significantly vs 2024, and further improved in Q1 2026; will continue to optimize product mix and reduce costs to keep gross margin stable or rising.表示2025年度毛利率较2024年明显提升，2026年一季度进一步改善，未来将通过优化产品结构和降本增效力争毛利率稳中有升。
Other developments其他动态
11 · 2024-02-06 → 2026-06-12
▾
Assorted developments not part of a running storyline.未归入某条故事线的零散动态。
2024-02-06Zhongji Innolight announces 'Quality Return Double Improvement' action plan, committing to high-end optical module focus, innovation, and shareholder returns.中际旭创发布“质量回报双提升”行动方案，承诺聚焦高端光模块主业、创新和股东回报。
2024-08-12Company stated that product sales are primarily priced in USD, and it uses foreign exchange hedging measures to manage currency fluctuation risks.公司表示产品销售以美元定价为主，并采取外汇套期保值等措施应对汇率波动风险。
2024-12-15Zhongji Innolight stated that its 800G optical modules are primarily sold to overseas markets.中际旭创表示，目前800G光模块主要销至海外市场。
2025-04-20Board approved foreign exchange hedging program with margin/option premium up to RMB 500 million and maximum contract value up to RMB 5 billion, valid for 12 months.董事会批准外汇套期保值业务，保证金或权利金上限5亿元人民币，最高合约价值50亿元人民币，有效期12个月。
2025-08-10Company confirms it has corresponding plans in the embodied intelligence (具身智能) field.公司确认在具身智能领域有相应的规划。
2025-09-09Zhongji Innolight's actual controller Wang Weixiu pledged 1.35 million shares (1.94% of his holdings, 0.12% of total shares) to GF Securities for a loan.中际旭创实际控制人王伟修将其持有的135万股股份质押给广发证券用于贷款，占其所持股份1.94%，占总股本0.12%。
2025-10-31Company plans to release Q3 2025 report on October 31, 2025.公司拟于2025年10月31日披露第三季度报告。
2026-03-01Zhongji Innolight stated that market competition has always existed, and the company has the ability to maintain rapid product iteration and competitive advantage.中际旭创表示，市场竞争一直存在，公司有能力保持产品的快速迭代和市场的竞争优势。
2026-04-14Announced that the 2026 first-quarter report disclosure date has been moved forward from April 24 to April 17, 2026, due to smooth preparation progress.公告将2026年一季报披露时间从原定的4月24日提前至4月17日，因编制工作进展顺利。
2026-05-06Zhongji Innolight added over 3,000 employees in 2025, ranking first in headcount increase among 20 AI A-share listed companies.中际旭创2025年增员超3000人，在20家AI A股上市公司中增员数量位居第一。
2026-06-12ProShares filed with the SEC to launch a 2x daily long ETF tracking Zhongji Innolight, still in fundraising stage.ProShares向美国SEC提交申请，拟推出追踪中际旭创单日表现两倍的杠杆ETF，目前处于募集阶段。
Share price & market cap milestones股价与市值里程碑
3 · 2024-02-19 → 2026-05-12
▾
Events highlighting significant stock price movements and market capitalization achievements.突出重大股价变动和市值成就的事件。
2024-02-19Zhongji Innolight stock hits 20% daily limit up to 152.4 yuan, market cap 122.35 billion yuan; company cites market factors and OpenAI Sora model release.中际旭创股价涨停20%至152.4元，市值1223.51亿元；公司称受市场因素和OpenAI Sora模型发布影响。
2025-11-26Stock price hit a record high of RMB 556.88, closing at RMB 543.22 (+13.25%), with total market cap exceeding RMB 600 billion, driven by Google Gemini 3 release and capital expenditure guidance.受谷歌Gemini 3发布及资本开支指引刺激，股价盘中创历史新高556.88元，收报543.22元（+13.25%），总市值突破6000亿元。
2026-05-12Share price surpassed RMB 1,000, becoming the 10th 'thousand-yuan stock' on A-shares and the 2nd on ChiNext, with market cap exceeding RMB 1.1 trillion.股价突破1000元，成为A股第10只千元股、创业板第2只千元股，总市值超1.1万亿元。
Junge Electronics automotive and robotics business君歌电子汽车与机器人业务
6 · 2024-02-25 → 2025-11-21
▾
Junge Electronics supplies ultrasonic radar, cameras, controllers to automakers, with potential expansion to humanoid robots.君歌电子为车企供应超声波雷达、摄像头、控制器，并可能扩展至人形机器人。
2024-02-25Zhongji Innolight says its controlled subsidiary Junge Electronics produces ultrasonic radar, cameras, and controllers, and has achieved Tier-1 supplier status with multiple automakers.中际旭创称控股孙公司君歌电子生产超声波雷达、摄像头和控制器，已取得多家车厂一级供应商资质并量产供货。
2024-03-10Zhongji Innolight disclosed that its controlled subsidiary Junge Electronics produces ultrasonic radar, cameras, and controllers for perception, and may expand to humanoid robot applications based on market demand.中际旭创披露控股孙公司君歌电子主要产品为超声波雷达、摄像头和控制器等感知类产品，未来将根据市场情况拓展至人形机器人应用。
2024-06-04Wholly-owned subsidiary Zhici Zhiyuan plans to invest 20 million yuan to increase capital in controlled subsidiary Junge Electronics, and acquire 4.5795% equity from 7 shareholders at 7 yuan per registered capital.全资子公司智驰致远拟以自有资金2000万元对控股孙公司君歌电子进行增资，并受让刘世勇等7名股东所持君歌电子4.5795%股权，价格为7元/每一元注册资本。
2024-09-23Company disclosed that its automotive optoelectronics business, via subsidiaries, focuses on ultrasonic radar, visual sensors, and controllers for intelligent driving and body electronics, with plans to expand through M&A.公司披露其汽车光电子业务依托子公司，以超声波雷达、视觉传感器及控制器等产品线布局智能驾驶和车身电子领域，并计划通过产业并购拓展。
2025-03-30Zhongji Innolight stated that its controlling subsidiary Junge Electronics produces some products applicable to the autonomous driving field.中际旭创表示其控股孙公司君歌电子部分产品可应用于自动驾驶领域。
2025-11-21Controlled subsidiary Junge Electronics plans to implement an employee stock ownership plan, increasing registered capital by RMB 9.2138 million (11.11% of current capital) to incentivize core staff.控股孙公司君歌电子拟通过员工持股平台增资，增加注册资本921.38万元（占目前注册资本11.11%），用于激励核心员工。
Regulatory and tariff impact监管与关税影响
7 · 2024-02-25 → 2026-06-10
▾
US/EU decoupling, 337 investigation, semiconductor tariffs, and 1260H list had no material impact on operations.美欧脱钩、337调查、半导体关税及1260H清单均未对经营产生实质影响。
2024-02-25Zhongji Innolight states it is not affected by US/EU decoupling policies; operations are normal.中际旭创表示未受美欧脱钩断链政策影响，生产经营正常。
2024-03-31Zhongji Innolight clarified that the US 337 investigation into fiber optic connectors, adapters, and patch cables does not affect the optical module industry, as they belong to different sub-sectors.中际旭创澄清美国对光纤连接器、适配器、跨接电缆等产品的337调查与光模块分属不同细分行业，对光模块无影响。
2024-05-19Zhongji Innolight stated that US semiconductor tariff increases do not affect its products.中际旭创表示美国对半导体加征关税不涉及公司产品。
2025-04-06Company is studying tariff policies, evaluating exemption ratios, and may apply for tariff exemptions; overseas customers have not adjusted demand or orders since tariffs were imposed.公司正在研究关税政策，评估可豁免比例，可能提交关税豁免申请；加征关税后海外客户尚未调整需求或订单。
2025-04-30Company executives stated at performance briefing that US reciprocal tariffs have not materially impacted operations or performance; active countermeasures are being taken.公司高管在业绩说明会上表示，美国加征“对等关税”未对公司经营和业绩带来重大影响，正在采取积极应对方案。
2025-05-25According to the latest tariff policy, communication equipment and optical modules under the semiconductor classification are exempt from tariffs.根据最新关税政策，半导体分类下的通讯设备、光模块等产品是关税豁免的。
2026-06-10Zhongji Innolight confirmed it was added to the U.S. Department of Defense's '1260H List', denied being a Chinese military or civil-military fusion company, and stated no material impact on operations.中际旭创确认被美国国防部列入‘1260H清单’，否认属于中国军工或军民融合企业，称未对经营产生实质性影响。
Annual and quarterly financial results年度与季度财务业绩
3 · 2024-03-01 → 2025-04-20
▾
Revenue and net profit grew strongly from 2023 to 2026, driven by 800G/400G/1.6T high-end optical module sales.2023-2026年营收和净利润强劲增长，由800G/400G/1.6T高端光模块销售驱动。
2024-03-01Zhongji Innolight released 2023 preliminary results: revenue 10.725 billion yuan (+11.23% YoY), net profit 2.181 billion yuan (+78.19% YoY), non-GAAP net profit 2.125 billion yuan (+104.81% YoY). Subsidiary Suzhou Innolight achieved net profit of about 2.376 billion yuan.中际旭创发布2023年业绩快报：营业收入107.25亿元（同比+11.23%），归母净利润21.81亿元（同比+78.19%），扣非净利润21.25亿元（同比+104.81%）。全资子公司苏州旭创实现净利润约23.76亿元。
2024-04-21Zhongji Innolight reported FY2023 revenue of 10.718 billion yuan, up 11.16% YoY; net profit of 2.174 billion yuan, up 77.58% YoY.中际旭创公布2023年营业收入107.18亿元，同比增长11.16%；净利润21.74亿元，同比增长77.58%。
2025-04-20FY2024 revenue RMB 23.862 billion, +122.64% YoY; net profit RMB 5.171 billion, +137.93% YoY; proposed cash dividend of RMB 0.5 per 10 shares.2024年营业收入238.62亿元，同比增长122.64%；净利润51.71亿元，同比增长137.93%；拟每10股派发现金红利5元。
LPO and CPO technologyLPO与CPO技术
11 · 2024-03-17 → 2026-03-01
▾
LPO products entered market introduction in 2024; CPO is a key R&D focus for future optical interconnect.LPO产品2024年进入市场导入；CPO是未来光互连的重点研发方向。
2024-03-17Zhongji Innolight stated that co-packaged optics (CPO) is an important future technology direction for optical modules, and the company will closely monitor it.中际旭创表示光电共封装（CPO）是光模块未来重要的技术演进方向之一，公司会保持密切关注。
2024-08-06Some customers have demand for LPO (Linear-drive Pluggable Optics) modules; active testing is underway and volume production is expected to gradually ramp up.有客户对LPO（线性驱动可插拨光模块）有需求，目前在积极测试，预计后续会开始逐步上量。
2024-08-25LPO/LRO products are currently undergoing market introduction.LPO/LRO相关产品正在进行市场导入。
2024-12-22Zhongji Innolight disclosed that its LPO (Linear-drive Pluggable Optics) products are in market introduction phase, while coherent optical modules for DCI (Data Center Interconnect) applications have been shipping in volume for some time.中际旭创披露，公司LPO产品处于市场导入阶段，应用于DCI领域的相干光模块早已批量出货。
2025-02-09Zhongji Innolight states that it is conducting early research on CPO (Co-Packaged Optics) technology and has related R&D and layout.中际旭创表示正在提前预研CPO技术，并有相关技术的研发和布局。
2025-03-30Zhongji Innolight stated that CPO and pluggable are different technology paths; 1.6T and 3.2T stages will still mainly use pluggable, and the company is investing in CPO R&D.中际旭创表示CPO和可插拔是不同技术路径，1.6T和3.2T阶段可插拔仍是主流，公司正加大CPO研发投入。
2025-06-08Company confirmed ongoing R&D investment in CPO (Co-packaged Optics) field.公司确认在CPO（共封装光学）领域有持续研发投入。
2025-08-14Zhilifang (智立方) confirms that Zhongji Innolight is its customer for CPO equipment.智立方确认中际旭创是其CPO设备客户。
2025-12-07Zhongji Innolight confirmed it has technical layout related to OCS (Optical Circuit Switching) products.中际旭创确认有OCS（光电路交换）相关技术布局。
2026-03-01Zhongji Innolight stated that CPO and NPO are both future technology directions.中际旭创表示，CPO和NPO都是未来技术方向之一。
2026-03-01Zhongji Innolight stated that CPO has not yet affected its optical module business and the company has related technology layout.中际旭创表示，CPO目前未对光模块业务造成影响，公司也有相关技术布局。
Capacity expansion & production产能扩张与生产
8 · 2024-03-17 → 2025-12-07
▾
Events related to capacity expansion, production capacity updates, and manufacturing locations.与产能扩张、产能更新和生产地点相关的事件。
2024-03-17Zhongji Innolight stated on investor platform that current capacity can ensure order delivery, and it will continue to expand high-end optical module capacity to meet growing industry demand.中际旭创在互动平台表示，目前产能能够保证订单交付，并将继续扩充高端光模块产能以满足行业持续增长的需求。
2024-04-22Zhongji Innolight disclosed that 800G capacity will be further expanded; 1.6T capacity construction will start in H2 2024.中际旭创披露800G产能还会扩建，1.6T产能今年下半年开始建设。
2024-04-28Zhongji Innolight explained that capacity changes are due to increasing 400G/800G high-end product capacity while reducing low/medium-speed capacity.中际旭创解释产能变化主要系400G/800G等高端产品产能持续提升而中低速率产能相应减少。
2024-08-26Company will further expand production capacity in H2 2024 based on customer demand, especially for high-end products like 400G and 800G. Capacity expansion in both domestic and overseas facilities was increased in H1 2024.公司2024年下半年将根据客户需求进一步扩产，尤其是400G和800G等高端产品；2024年上半年已加大国内和海外的产能建设。
2024-09-23Company stated that capacity utilization is sufficient and capacity for 800G and 1.6T products is still under continuous construction.公司表示产能利用率充足，800G和1.6T产品产能仍在持续建设中。
2025-08-10Company states its optical module production capacity is mainly located in Suzhou, Tongling, Taiwan, and Thailand; no US production base.公司表示光模块产能主要在苏州、铜陵、台湾以及泰国，未在美国设生产基地。
2025-08-10Company states production capacity is continuously being expanded.公司表示产能仍在持续扩建中。
2025-12-07Zhongji Innolight stated that its construction-in-progress surged from 53 million yuan at the start of 2025 to 980 million yuan by Q3 2025, an increase of 1765.65%, indicating capacity expansion.中际旭创表示，截至2025年三季度末，在建工程从年初的0.53亿元猛增至9.8亿元，增幅1765.65%，表明产能扩张。
Rumor denial & clarification谣言否认与澄清
18 · 2024-03-17 → 2026-06-16
▾
Events where the company denied market rumors, clarified misinformation, or refuted false reports.公司否认市场谣言、澄清错误信息或驳斥虚假报道的事件。
2024-03-17Zhongji Innolight stated it did not participate in Huafu Fashion's AIGC computing center project in Shangyu and the 'WanKa Cluster' project in Xinjiang.中际旭创表示未参与华孚时尚的上虞华尚数智中心AIGC智算中心项目和新疆“万卡集群”阿克苏算力项目。
2024-11-04Zhongji Innolight stated that its business does not involve military projects.中际旭创表示公司业务不涉及军工项目。
2024-11-18Zhongji Innolight stated that its optical module products have not yet been involved in the robotics field.中际旭创表示其光模块产品目前尚未涉及机器人领域。
2024-12-29Zhongji Innolight stated that it does not directly hold shares in Unitree Robotics, but a fund in which it has invested holds a partial stake.中际旭创在互动平台表示，公司未直接持有宇树科技股份，参与投资的基金持有部分股份。
2025-02-09Zhongji Innolight confirms it does not hold shares in DeepSeek (深度求索) or Yushu Technology (宇树科技), though a fund it invested in holds some Yushu shares.中际旭创确认未持有深度求索公司股份，未直接持有宇树科技股份但参与投资的基金持有部分。
2025-02-09Zhongji Innolight states that the emergence of DeepSeek has not had an adverse impact on its production and operations.中际旭创表示DeepSeek的出现未对公司生产经营产生不利影响。
2025-07-27Disclosed that the company does not directly hold shares in Unitree Robotics, but its invested funds hold a partial stake.披露公司未直接持有宇树科技股份，但参投的基金持有部分股份。
2025-10-12Company stated it does not hold any shares in Moore Threads (摩尔线程).公司表示未持有摩尔线程的股份。
2025-12-21Zhongji Innolight clarified that it has no factory in Malaysia, refuting online misinformation about Malaysia capacity.中际旭创澄清在马来西亚没有工厂，驳斥关于马来西亚产能的虚假信息。
2025-12-26Market rumor that Changguang Huaxin received EML orders from Zhongji Innolight was denied by Changguang Huaxin's securities representative.市场传闻长光华芯获得中际旭创EML订单，被长光华芯证券事务代表辟谣否认。
2026-01-23Wang Xiaodong, son of actual controller Wang Weixiu, personally acquired 10.04% of Tongyuan Environment shares via block trade at 22.16 yuan per share, totaling 293 million yuan; Zhongji Innolight stated it is unrelated to the company.实际控制人王伟修之子王晓东以22.16元/股受让通源环境10.04%股份，交易总金额2.93亿元；中际旭创表示与公司无关。
2026-03-08Zhongji Innolight stated it has not issued any performance guidance and all financial data should be based on disclosed reports.中际旭创表示，公司未发布任何业绩指引，营收和利润等财务数据均以公司披露的数据为准。
2026-03-08Zhongji Innolight stated it is not involved in the laser device business.中际旭创表示，公司目前没有涉及激光器业务。
2026-05-30Issued a stern statement refuting a fabricated article titled 'Full Speech of Zhongji Innolight Chairman at 2026 Optical Interconnect Forum (5.28 Shanghai)', confirming the company did not attend any such forum and the content is entirely false; evidence has been preserved for legal action.发布严正声明，驳斥捏造文章《中际旭创董事长2026光互联论坛（5.28上海）演讲全文》，确认公司未出席该论坛，内容纯属虚假，已固定证据将依法追究法律责任。
2026-05-31Stated that the company's current main business does not involve the production of optical chips.表示公司目前主营业务不涉及光芯片的生产。
2026-06-01Zhongji Innolight issued a clarification denying a fabricated speech article attributed to its chairman, stating it will pursue legal action against the spreaders.中际旭创发布澄清公告，否认董事长在所谓‘光互联论坛’发表演讲的文章，称内容为杜撰，将追究造谣者法律责任。
2026-06-14Zhongji Innolight denied rumors on the investor interactive platform that foreign exchange losses would cause a major earnings miss, stating the claims are untrue.中际旭创在互动平台否认‘受汇兑影响业绩爆雷’的传闻，称上述情况不属实。
2026-06-16Zhongji Innolight stated on the interactive platform that management currently has no plan to increase shareholdings.中际旭创在互动平台表示，公司管理层目前没有增持计划。
Thailand factory capacity buildout泰国工厂产能建设
15 · 2024-04-14 → 2025-08-10
▾
Thailand factory reached mass production in 2022, expanded through 2024-2025 to serve overseas high-end module demand.泰国工厂2022年实现量产，2024-2025年持续扩产以满足海外高端模块需求。
2024-04-14Zhongji Innolight confirmed its Thailand factory reached mass production conditions in 2022 and is now fully operational.中际旭创确认其泰国工厂已于2022年达到量产条件并已实现全面量产。
2024-04-30Zhongji Innolight said its Thailand factory expansion is progressing smoothly, expected to meet overseas customers' high-end product orders.中际旭创表示泰国工厂扩产顺利，预计能满足海外大客户高端产品订单交付。
2024-05-12Zhongji Innolight confirmed it has production bases in Thailand and Taiwan, capable of mass production of high-end optical modules.中际旭创确认已在泰国和台湾设有生产基地，具备大批量高端光模块出货能力。
2024-06-30Overseas production capacity is still being ramped up.公司海外产能仍在持续提升。
2024-07-14Confirmed that Phase 1 and Phase 2 of the Thailand factory have reached capacity and are stably mass-producing high-end optical modules for overseas customers; new capacity construction is progressing steadily.确认泰国工厂一期和二期产能建设已达成，能够稳定量产高端光模块满足海外客户需求；后续新产能建设正稳步推进。
2024-07-22Stated that domestic factories are running at full capacity, no idle capacity; overseas factory gross margin has become roughly equal to domestic; expects overseas capacity share to further increase.表示国内工厂处于满产状态，无闲置产能；海外工厂毛利率已与国内基本持平；预计未来海外产能占比将进一步提升。
2024-07-28Confirmed that the decline in Jiangsu customs optical module export value in June was due to increased shipments from the Thailand factory reducing direct domestic exports.确认6月江苏光模块出口金额环比下降是因为泰国工厂出货量增加，使得国内直接出口减少。
2025-02-09Zhongji Innolight reports that its overseas subsidiaries in Singapore and Thailand have sufficient capacity utilization.中际旭创表示新加坡及泰国海外子公司产能利用率充足。
2025-03-30Zhongji Innolight stated that its Thailand factory was minimally affected by the earthquake, with normal production and employee safety.中际旭创表示其泰国工厂受地震影响程度较低，生产正常，员工安全。
2025-04-06Company has fully capable production and shipment capacity for optical modules at its Thailand plant; imported chips can be sent directly to Thailand to avoid tariffs.公司已具备在泰国工厂全面生产光模块的能力和出货交付能力；进口芯片可直接发往泰国以规避关税。
2025-05-25Production capacity is mainly located in mainland China, Taiwan, and Thailand; the Thailand factory started mass production in 2022 and now has full delivery capability.产能主要在大陆、台湾以及泰国工厂；泰国工厂于2022年开始量产，目前已具备全面交付能力。
2025-05-26Thailand factory area experienced low seismic intensity; production is normal and employees are safe.泰国工厂所在区域震感程度较低，工厂生产正常，员工安全。
2025-06-12Thailand factory shipment ratio increased significantly in Q1; Q2 shipments expected to fully meet North American customer demand; further capacity expansion planned in Thailand.一季度泰国工厂出货比例大幅提升；二季度出货量可全面满足北美客户需求；计划在泰国进一步扩充产能。
2025-07-20Responded to US potential AI chip restrictions on Thailand: all operations including Thailand factory are normal, capacity is sufficient, and high-end module shipments continue to ramp.回应美国可能对泰国实施AI芯片限制：包括泰国公司在内的所有生产经营正常，产能充足，高端光模块持续上量。
2025-08-10Company confirms overseas production capacity has full delivery capability; Thailand factory operations are normal despite Thailand-Cambodia conflict.公司确认海外产能具备全面交付能力；泰国工厂生产经营正常，不受泰柬冲突影响。
Dividend and shareholder return分红与股东回报
8 · 2024-04-21 → 2026-05-31
▾
Proposed and implemented annual cash dividends and bonus shares, with a 2026-2028 shareholder return plan.提出并实施年度现金分红和送股，制定2026-2028年股东回报计划。
2024-04-21Zhongji Innolight proposed FY2023 dividend: 4.50 yuan cash per 10 shares, plus 4 bonus shares per 10 via capital reserve.中际旭创提议2023年度利润分配：每10股派发现金红利4.50元，以资本公积金每10股转增4股。
2024-05-30Zhongji Innolight announced 2023 annual dividend plan: 4.50 yuan cash per 10 shares and 4 bonus shares per 10 shares (capitalization of reserves), totaling 355.08 million yuan cash payout.中际旭创公布2023年度分红方案：每10股派发现金红利4.50元，每10股转增4股，合计派发现金3.55亿元。
2025-05-252024 annual dividend plan is 5 yuan cash per 10 shares, no stock transfer; the board considered profitability, financial condition, and future capital needs.2024年度分红方案为每10股派发现金5元，不转增股本；董事会综合考虑了盈利水平、财务状况及未来资金需求。
2025-06-122024 annual dividend plan finalized: 0.50 yuan per 10 shares (tax included), total 555.56 million yuan; record date June 18, 2025.2024年度分红方案确定：每10股派发现金红利5.00元（含税），合计5.5556亿元；股权登记日2025年6月18日。
2025-10-132025 semi-annual dividend distribution plan will be implemented on October 13, 2025; 2024 annual dividend was implemented on June 19, 2025.2025年半年度分红方案将于2025年10月13日实施完毕；2024年度分红方案已于2025年6月19日实施完毕。
2026-03-30Zhongji Innolight's board proposed a mid-term dividend authorization plan for 2026, to be voted at the shareholders' meeting.中际旭创董事会提请股东大会授权2026年中期分红方案。
2026-04-22Announced the 2025 annual profit distribution plan: a cash dividend of 10 yuan per 10 shares (tax included), totaling 1.111 billion yuan, with the record date on April 29 and ex-dividend date on April 30, 2026.公告2025年度权益分派方案：每10股派发现金红利10元（含税），合计派发11.11亿元，股权登记日4月29日，除权除息日4月30日。
2026-05-31Confirmed that 2025 annual dividend was fully distributed on April 30, 2026, and the company has formulated a 'Shareholder Return Plan for 2026-2028' emphasizing continuous and stable returns.确认2025年度分红已于2026年4月30日实施完毕，并已制定《未来三年（2026-2028年）股东回报规划》，强调连续性和稳定性。
Cash management and fund usage现金管理与资金使用
9 · 2024-04-22 → 2026-03-30
▾
Used idle raised funds and自有资金 for structured deposits and cash management within board-approved limits.在董事会授权范围内使用闲置募集资金和自有资金进行结构性存款和现金管理。
2024-04-22Zhongji Innolight's board approved using up to 700 million yuan of temporarily idle raised funds for cash management.中际旭创董事会批准使用不超过7亿元暂时闲置募集资金进行现金管理。
2024-05-30Zhongji Innolight approved use of up to 1.5 billion yuan (or equivalent in foreign currency) of idle自有资金 for cash management, renewable within the limit.中际旭创批准使用不超过15亿元（或等值外币）的闲置自有资金进行现金管理，额度可循环滚动使用。
2024-08-30Company used 29.5 million yuan of idle raised funds to purchase a principal-guaranteed floating-income structured deposit from China Merchants Bank, with an expected annualized yield of 1.55% or 2.20%, maturing on September 29, 2024.公司使用部分闲置募集资金2950万元购买了招商银行发行的保本浮动收益型结构性存款产品，预期年化收益率1.55%或2.20%，期限至2024年9月29日。
2024-09-30Company and its wholly-owned grand subsidiary Tongling Xuchuang used idle raised funds for cash management: RMB 300 million structured deposit with ICBC and RMB 25 million with CMB, with expected annualized rates between 0.95%-2.29% and 1.55%-2.20%.公司及全资孙公司铜陵旭创使用闲置募集资金进行现金管理：工商银行结构性存款3亿元（预期年化0.95%~2.29%），招商银行结构性存款2500万元（预期年化1.55%或2.20%）。
2025-02-10Zhongji Innolight's wholly-owned subsidiary Tongling Xuchuang uses idle raised funds to purchase structured deposit products from ICBC Tongling Shicheng Road Sub-branch, totaling RMB 200 million.中际旭创全资孙公司铜陵旭创使用闲置募集资金购买工商银行结构性存款产品，合计2亿元。
2025-05-06The company plans to use up to 1.5 billion yuan of idle自有资金 for cash management, within the scope approved by the board.公司拟使用不超过人民币15亿元的闲置自有资金进行现金管理，额度在董事会审批范围内。
2025-06-09Company approved use of up to 300 million yuan of temporarily idle raised funds for cash management.公司批准使用不超过3亿元闲置募集资金进行现金管理。
2026-01-28Zhongji Innolight used 10 million yuan of its own funds to purchase a principal-guaranteed floating-income note from Galaxy Securities, with an expected annualized return of 1.55%-1.65%, maturing April 1, 2026.中际旭创以1000万元自有资金购买银河证券本金保障浮动收益型收益凭证，预期年化收益率1.55%-1.65%，期限至2026年4月1日。
2026-03-30Zhongji Innolent's board approved using up to 3 billion yuan of idle自有资金 for cash management, including structured deposits, large-denomination certificates, and low-risk wealth management products.中际旭创董事会同意使用不超过30亿元闲置自有资金进行现金管理，包括结构性存款、大额存单、低风险理财产品等。
Chengdu Shuhan subsidiary turnaround成都蜀翰子公司扭亏
1 · 2024-04-28
▾
Chengdu Shuhan had losses in 2023 but a clear improvement plan was in place.成都蜀翰2023年亏损，但已有明确的改善计划。
2024-04-28Zhongji Innolight stated that subsidiary Chengdu Shuhan has a clear improvement plan after losses in 2023.中际旭创表示子公司成都储翰已有明确的经营改进计划。
Customer demand and order updates客户需求与订单更新
11 · 2024-04-28 → 2026-05-17
▾
Orders remained full through 2024-2026, with strong 800G/1.6T demand from AI data centers and no order cuts.2024-2026年订单饱满，AI数据中心驱动800G/1.6T需求强劲，无砍单。
2024-04-28Zhongji Innolight denied rumors of major customer order cuts for 800G CPO products.中际旭创否认800G CPO产品被大客户砍单的传闻。
2024-05-19Zhongji Innolight confirmed that Nvidia's GB200 platform requires optical modules, indicating continued demand.中际旭创确认英伟达GB200对光模块有需求，表明需求持续。
2025-02-09Zhongji Innolight denies receiving any order cuts from US customers, calling such rumors untrue.中际旭创否认收到美国客户砍单通知，称相关传闻不属实。
2025-02-16Zhongji Innolight states that its order backlog is sufficient and it is optimistic about the growth of high-speed optical module products in 2025.中际旭创表示目前在手订单充足，看好高速光模块产品2025年的增长。
2025-03-02Zhongji Innolight stated that orders for 2025 are sufficient and the company is optimistic about the sustained growth of global high-end optical module demand.中际旭创表示2025年订单充足，看好全球高端光模块需求的持续增长。
2025-04-21Domestic and overseas customer demand and capex for AI remain unaffected by DeepSeek; customers preparing for higher-speed optical module volume production next year.国内外大客户AI需求和资本开支未受DeepSeek影响；客户正在为明年更高速率光模块上量做准备。
2025-10-11Nvidia increased its 2026 800G optical module procurement order by 35%, total to 2.7 million units (~$4B market); Zhongji Innolight gets ~35% share, Eoptolink ~25%.英伟达将2026年800G光模块采购订单量额外增加35%，全年总采购量预计达270万只（市场规模超40亿美元）；中际旭创获得约35%份额，新易盛约25%。
2025-10-26Company expressed optimism about industry demand growth in 2026 and 2027.公司表示看好2026年和2027年的行业需求增长。
2026-03-01Zhongji Innolight stated on the interactive platform that orders are full, capacity utilization is sufficient, and production was arranged during the Spring Festival to ensure customer delivery.中际旭创在互动平台表示，目前公司订单饱满，产能利用率充足，春节期间也有积极排产以保障客户交付。
2026-04-24At the performance briefing, stated that AI network optical connection demand is expected to continue through 2027-2028, and the company will actively research non-AI investment and business opportunities.在业绩说明会上表示，预判2027-2028年AI网络光连接需求仍将持续，并将积极研究非AI领域的投资与商业机会。
2026-05-17Confirmed that industry demand remains strong with good growth momentum and high prosperity, no signs of customer order slowdown.确认行业需求旺盛，仍保持良好的增长态势和高景气度，未见客户订单放缓迹象。
Domestic 400G/800G market growth国内400G/800G市场增长
9 · 2024-04-30 → 2026-03-01
▾
Domestic demand for 400G ramped quickly in 2024, with 800G adoption accelerating in 2025.国内400G需求2024年快速起量，2025年800G采用加速。
2024-04-30Zhongji Innolight noted that domestic demand for 400G optical modules is ramping up quickly.中际旭创指出国内市场对400G光模块的需求正在快速起量。
2024-07-28Disclosed that domestic market revenue accounted for 15.35% of total revenue in the 2023 annual report.披露根据2023年度报告，公司国内市场营收占比为15.35%。
2025-02-09Zhongji Innolight states that its 800G and 1.6T optical modules are mainly sold to overseas markets, while domestic demand is concentrated on 400G and 800G.中际旭创表示800G和1.6T光模块主要应用于海外市场，国内市场目前需求集中在400G和800G。
2025-03-02Zhongji Innolight stated that it is optimistic about the sustained growth of domestic demand for high-end optical modules, and expects the proportion of domestic sales revenue to increase.中际旭创表示看好国内高端光模块需求的持续增长，预计国内销售收入占比将有所提升。
2025-03-09Zhongji Innolight stated that the domestic data center market in 2025 will see significant growth in demand for 400G, with some customers already generating substantial demand for 800G.中际旭创表示2025年国内数据中心市场对400G需求大幅增长，部分客户已对800G产生较多需求。
2025-03-30Zhongji Innolight stated that it is one of the main domestic suppliers of 400G/800G optical modules.中际旭创表示公司是目前国内市场400G/800G的主力供应商之一。
2025-04-21Domestic customer tenders in early 2025 grew significantly YoY, mainly for 400G modules, with accelerated 800G module adoption; domestic orders and revenue expected to grow in 2025.2025年初国内客户招标同比明显增长，主要是400G光模块，同时加快了800G光模块导入；预计2025年国内订单和收入增长。
2025-05-25The domestic market scale in 2024 has grown significantly and is expected to continue growing.2024年国内市场规模已有明显增长并有望持续增长。
2026-03-01Zhongji Innolight stated it will maintain its position as a main supplier in the domestic market while serving overseas markets.中际旭创表示，在做好海外市场的同时也会继续保持国内市场的主力供应商地位。
Investment funds and venture capital投资基金与风险投资
9 · 2024-04-30 → 2025-11-28
▾
Participated as limited partner in multiple venture capital funds focusing on optoelectronics, advanced materials, smart cars, and robotics.作为有限合伙人参与多个创投基金，聚焦光电子、先进材料、智能汽车和机器人。
2024-04-30Zhongji Innolight invested 19 million yuan as a limited partner in Suzhou Kaifeng Chuangxin Venture Capital Partnership, holding 7.60% stake.中际旭创以1900万元认购苏州凯风创芯创业投资合伙企业7.60%出资份额。
2024-10-28Zhongji Innolight announced it will use RMB 59 million of its own funds to subscribe to shares of Suzhou Qianrong Xurun Venture Capital Partnership, becoming a limited partner holding 84.29% of the partnership.中际旭创公告，拟以自有资金5900万元认购苏州乾融旭润创业投资合伙企业的出资份额，成为有限合伙人，持有合伙企业84.29%的份额。
2024-11-07Zhongji Innolight, together with Jiangsu Qianrong Capital and Jiangsu Qianrong Sci-Tech Industrial Park Management, established a venture capital partnership Suzhou Qianrong Xurun Venture Capital Partnership (limited partnership) with a capital of 70 million yuan; Zhongji Innolight contributed 59 million yuan for an 84.29% stake.中际旭创与江苏乾融资本、江苏乾融科创产业园管理共同设立创业投资合伙企业苏州乾融旭润创业投资合伙企业（有限合伙），出资额7000万元；中际旭创出资5900万元，持有84.29%份额。
2024-12-02Zhongji Innolight announced it will invest 14 million yuan (93.33%) to jointly establish Hechuang Zhiyuan Phase II (Suzhou) Enterprise Management Center with Yuanhe Emerging Industry Investment, and as a limited partner contribute 92 million yuan to the Hechuang Zhiyuan Phase II Digital Technology Investment Partnership, focusing on optoelectronics, advanced materials, smart cars, and robotics.中际旭创公告，拟出资1400万元（占93.33%）与元禾新兴产投合资设立禾创致远二期（苏州）企业管理中心，并作为有限合伙人认缴9200万元参与禾创致远二期数字科技投资合伙企业，聚焦光电产业链、先进材料、智能汽车和机器人等领域。
2024-12-31Hechuang Zhiyuan Phase II (Suzhou) Enterprise Management Center (Limited Partnership) was officially established with a registered capital of 15 million yuan, with Zhongji Innolight holding 93.33% (14 million yuan) and Yuanhe Emerging Industry Investment holding 6.67%.禾创致远二期（苏州）企业管理中心（有限合伙）正式成立，注册资本1500万元，中际旭创出资1400万元占93.33%，元禾新兴产投出资100万元占6.67%。
2025-03-04Zhongji Innolight, together with Chuangyao Technology and others, jointly established Suzhou Industrial Park Hechuang Zhiyuan Phase II Technology Investment Partnership (Limited Partnership) with a capital of 320 million yuan, for investment activities.中际旭创与创耀科技等共同出资成立苏州工业园区禾创致远二期科技投资合伙企业（有限合伙），出资额3.2亿元，用于投资活动。
2025-09-09Zhongji Innolight's wholly-owned subsidiary Xuchuang Investment plans to subscribe RMB 20 million for a 4.00% stake in Suzhou Qianrong Yuanfeng Phase II Venture Capital Partnership (LP), focusing on high-end manufacturing and hard-tech.中际旭创全资子公司旭创投资拟以2000万元认购苏州乾融园丰二期创业投资合伙企业4.00%的出资份额，聚焦高端制造及硬核科技领域。
2025-11-06Guotai Haitong Zhongji Innolight Technology Equity Investment Fund (Kunshan) partnership was established with a capital contribution of RMB 1.5 billion, involving Zhongji Innolight, Guotai Haitong, China Pacific Insurance, TCC, and others.国泰海通中际旭创科技股权投资基金（昆山）合伙企业成立，出资额15亿元，出资方包括中际旭创、国泰海通、中国太保、太辰光等。
2025-11-28The Guotai Haitong Zhongji Innolight Technology Equity Investment Fund completed its filing with the Asset Management Association of China (filing No. SBKE21); Zhongji Innolight contributed RMB 354 million as a limited partner.国泰海通中际旭创科技股权投资基金完成备案（备案号SBKE21）；中际旭创作为有限合伙人出资3.54亿元。
Internal restructuring and new subsidiaries内部重组与新设子公司
6 · 2024-05-10 → 2026-05-13
▾
Conducted internal equity restructuring among subsidiaries and established new entities for investment and manufacturing.进行子公司间股权重组，新设投资和制造实体。
2024-05-10Wholly-owned subsidiary Jiangsu Zhicheng Wanglian Holdings changed its name to Jiangsu Zhicheng Zhiyuan Holdings, with legal representative Ding Hai, completing industrial and commercial registration.全资子公司江苏智驰网联控股有限公司更名为江苏智驰致远控股有限公司，法定代表人丁海，完成工商变更登记。
2024-09-13Zhongji Innolight established a wholly-owned subsidiary Suzhou Zhida Taiyue Technology Co., Ltd. with a registered capital of approximately RMB 570 million, covering optical communication equipment and electronic components manufacturing.中际旭创设立全资子公司苏州智达泰跃科技有限公司，注册资本约5.7亿元，经营范围涵盖光通信设备制造和电子元器件制造。
2024-12-03Zhongji Innolight approved an internal equity restructuring: transfer of 67.71% of TeraHop Pte. Ltd. from Suzhou Xuchuang to Suzhou Zhida Taiyue Technology; transfer of 100% of Chengdu Zhihe Guangtong to the company; and transfer of 100% of Shandong Xuchuang Communication Technology to a new subsidiary Suzhou Zhihe Guangtong, to streamline domestic and overseas operations.中际旭创审议通过内部股权架构调整：将苏州旭创持有的TeraHop Pte. Ltd. 67.71%股权划转给苏州智达泰跃科技；将成都智禾光通100%股权转让给公司；成都智禾新设全资子公司苏州智禾，受让山东旭创通信科技100%股权，以整合国内外业务。
2025-07-19Established wholly-owned subsidiary Zhongji Innolight (Shanghai) Investment Co., Ltd. with registered capital of 300 million yuan, legal representative Wang Jun, engaged in investment management and asset management services.设立全资子公司中际旭创（上海）投资有限公司，注册资本3亿元，法定代表人王军，从事投资管理和资产管理服务。
2026-05-11Established wholly-owned subsidiary Huai'an Xuchuang Technology Co., Ltd. with registered capital of RMB 40 million, engaged in optical communication equipment manufacturing and IC chip design.设立全资子公司淮安旭创科技有限公司，注册资本4000万元，经营范围包括光通信设备制造、集成电路芯片设计等。
2026-05-13Wholly-owned subsidiary Suzhou Xuchuang Technology transferred 25% equity in Suzhou Ruichuang Connection Technology to another wholly-owned subsidiary Chengdu Zhihe Guangtong Technology, as part of a RMB 65 million capital increase in Ruichuang.全资子公司苏州旭创科技将其持有的苏州瑞创连接技术25%股权转让给另一全资子公司成都智禾光通科技，作为瑞创6500万元增资的一部分。
Product & technology development产品与技术发展
13 · 2024-05-12 → 2026-05-17
▾
Events covering product launches, technology roadmaps, R&D expenses, and technical capabilities.涵盖产品发布、技术路线图、研发费用和技术能力的事件。
2024-05-12Zhongji Innolight stated that its optical engine is self-developed and self-produced, not outsourced.中际旭创表示光引擎由公司自行研发和生产，非对外采购。
2024-09-23Company stated it will continue R&D and application expansion of silicon photonics technology in optical communication, optical sensing, and optical computing fields.公司表示将在光通信、光传感、光计算等领域持续推动硅光技术的研发布局和应用拓展。
2024-11-21Zhongji Innolight stated that it has world-leading optical module design and R&D capabilities, having been the first to globally release 400G optical modules in both OSFP and QSFP-DD form factors in 2017-2018, and first to pass certification and begin small-batch supply to key North American customers in 2018.中际旭创表示拥有全球领先的光模块设计研发能力，于2017-2018年率先在全球发布400G光模块（OSFP和QSFP-DD两种规格），并于2018年率先通过北美重点客户认证并开始小批量供应。
2025-03-30Zhongji Innolight stated that its 1.6T products are expected to gradually ramp up in overseas markets and become a new growth driver, while the domestic AI infrastructure boom will boost 400G/800G shipments and revenue.中际旭创表示1.6T产品海外市场预计将逐步起量并成为新增长点，国内算力建设热潮将促进400G/800G出货量和营收增长。
2025-05-252024 annual R&D expenses were 1.244 billion yuan.2024年度研发费用为12.44亿元。
2025-07-16At OFC 2025, subsidiary showcased new products including 1.6T-DR8 and 2xFR4 OSFP modules with 3nm DSP chips, 400G single-lane demo, multi-core fiber 800G-2xDR4 OSFP, and the world's first PCIe 4.0 automotive optical transmission module under brand ReinOCS (Zhicheng Lingyu).在OFC 2025上，子公司展示了搭载3nm DSP芯片的1.6T-DR8与2xFR4 OSFP光模块、400G单通道演示、多芯光纤800G-2xDR4 OSFP光模块，以及旗下智驰领驭(ReinOCS)品牌发布的全球首款基于PCIe 4.0协议的车载光传输模块。
2025-09-01Zhongji Innolight stated that it can produce optical modules without using AWG chips.中际旭创表示，不用AWG芯片也能做光模块。
2025-10-31Institutional call: Scale-up bandwidth demand may reach 10x Scale-out demand; CSPs are advancing ASIC chips for Scale-up and expect Ethernet-based optical connectivity within racks; LPO, XPO, NPO solutions expected to see deployment by 2027.机构电话会议：Scale-up带宽需求可能达到Scale-out的十倍；CSP客户正推进ASIC在Scale-up的应用，期望用以太网实现柜内光连接；LPO、XPO、NPO等方案预计2027年有望部署。
2025-11-09Zhongji Innolight stated that core processes of optical module production use self-developed or customized automated equipment, achieving self-control; acquired subsidiary Chuhang Technology also engages in optical module business.中际旭创表示光模块核心工序均采用自研或定制自动化设备量产，能够自主可控；收购的储翰科技亦涉及光模块业务。
2025-12-09Zhongji Innolight's R&D expenses for 2024 reached 1.244 billion yuan; Q1-Q3 2025 R&D expenses grew 27.41% YoY to 945 million yuan.中际旭创2024年度研发费用达12.44亿元；2025年前三季度研发费用同比增长27.41%至9.45亿元。
2025-12-21Zhongji Innolight noted that thin-film lithium niobate is an important future technology direction, with mass application depending on maturity, cost, and customer demand.中际旭创指出，薄膜铌酸锂是未来重要技术方向之一，规模应用取决于技术成熟度、成本及客户需求。
2025-12-21Zhongji Innolight stated that its optical engine, the core component of optical modules, is independently designed and produced in-house.中际旭创表示，光引擎作为光模块核心部件，均为公司自主设计和生产。
2026-05-17Confirmed that the company is developing complementary frontier products beyond optical modules for synergistic positioning.确认公司正在布局光模块之外的配套前沿产品做协同卡位。
Equity incentive plans股权激励计划
13 · 2024-05-17 → 2026-06-04
▾
Multiple restricted stock and employee stock ownership plans granted to employees from 2024 to 2026.2024-2026年多次向员工授予限制性股票和员工持股计划。
2024-05-1734.97 thousand restricted shares (0.04% of total) became eligible for trading on May 17, 2024, from equity incentive plan.34.97万股限售股份（占总股本0.04%）于2024年5月17日解禁上市，为股权激励一般股份。
2024-05-24236.19 thousand restricted shares (0.29% of total) became eligible for trading on May 24, 2024, from equity incentive plan.236.19万股限售股份（占总股本0.29%）于2024年5月24日解禁上市，为股权激励一般股份。
2024-11-07Board approved granting 1.12 million restricted shares at 37.06 yuan/share to 75 grantees under the third restricted stock incentive plan's reserved portion, with grant date set as November 7, 2024.董事会批准以37.06元/股的价格向75名激励对象授予112万股限制性股票（第三期激励计划预留部分），授予日为2024年11月7日。
2025-03-18Zhongji Innolight announced its fourth restricted stock incentive plan: granting up to 10 million shares (0.91% of total shares), with an initial grant of 8.9 million shares to 772 mid-level managers and core technical staff, at a grant price of 54 yuan per share, effective for 60 months.中际旭创公布第四期限制性股票激励计划：拟授予限制性股票总量1000万股（占总股本0.91%），首次授予890万股，激励对象772名中层管理人员及核心技术骨干，授予价格54元/股，有效期60个月。
2025-04-21Third employee stock ownership plan second lock-up period unlocking conditions met; 5.1744 million shares (33% of plan total) to be unlocked.第三期员工持股计划第二个锁定期解锁条件成就，解锁517.44万股（占计划总数的33%）。
2025-06-09Third restricted stock incentive plan first vesting period results: 2 million shares vested on June 11, 2025, covering 103 employees; grant price adjusted to 37.06 yuan/share.第三期限制性股票激励计划首次归属结果：2025年6月11日归属200万股，涉及103人，授予价格调整为37.06元/股。
2026-03-13Zhongji Innolight adjusted the grant price of the reserved portion of the fourth restricted stock incentive plan from 54 yuan/share to 53.10 yuan/share.中际旭创调整第四期限制性股票激励计划预留部分的授予价格，由原54元/股调整为53.10元/股。
2026-05-08Board approved adjustment of the grant price for the fourth restricted stock incentive plan's first tranche.董事会审议通过调整第四期限制性股票激励计划首次授予部分归属价格的议案。
2026-05-08Announced that 734 incentive recipients are eligible for the first vesting period of the fourth restricted stock plan, with 1.31 million shares (0.12% of total shares) vesting at RMB 52.10 per share.公告第四期限制性股票激励计划首次授予部分第一个归属期归属条件成就，734名激励对象可归属131万股（占总股本0.12%），归属价格52.10元/股。
2026-05-19Disclosed two equity incentive grants in May totaling ~1.63 million shares to 803 employees, valued at approximately RMB 1.7 billion based on the May 18 closing price of RMB 1,045.披露5月两起股权激励合计向803名员工授予约163万股，按5月18日收盘价1045元计算总价值约17亿元。
2026-05-28Fourth restricted stock incentive plan's first vesting batch of 1.31 million shares (0.12% of total) for 734 recipients will be listed on June 1, 2026.第四期限制性股票激励计划首次授予部分第一个归属期131万股（占总股本0.12%）将于2026年6月1日上市流通。
2026-06-04Zhongji Innolight announced the first vesting of reserved restricted shares under the third equity incentive plan: 324,450 shares at RMB 35.16/share for 69 employees, shares tradable from June 8.中际旭创公告第三期限制性股票激励计划预留部分第一个归属期归属条件成就，归属32.445万股，价格35.16元/股，涉及69人，6月8日上市流通。
2026-06-04Zhongji Innolight completed the first vesting of the fourth equity incentive plan's initial grant: 1.3097 million shares at RMB 52.10/share for 734 employees, shares tradable from June 1.中际旭创第四期限制性股票激励计划首次授予部分第一个归属期完成归属，归属130.97万股，价格52.10元/股，涉及734人，6月1日上市流通。
Tongling high-end optical module industrial park铜陵高端光模块产业园
8 · 2024-05-28 → 2026-04-01
▾
Tongling production base completed Phase I-III projects, adding 1.2 million high-end module annual capacity.铜陵生产基地完成一至三期项目，新增年产120万只高端模块产能。
2024-05-28The 'Tongling Xuchuang High-End Optical Module Production Base Project' was completed, with cumulative investment of 532.9125 million yuan in raised funds; the special account was closed.“铜陵旭创高端光模块生产基地项目”已实施完毕，累计投入募集资金53291.25万元，专户已注销。
2024-06-28Company changes use of 446 million yuan of raised funds from 'Suzhou Xuchuang High-end Optical Module Base' to new 'Tongling Xuchuang High-end Optical Module Industrial Park Phase III', with annual capacity of 1.2 million high-end optical modules after completion.公司变更募集资金用途，将原‘苏州旭创高端光模块生产基地项目’剩余的4.46亿元用于建设新增‘铜陵旭创高端光模块产业园三期项目’，达产后年产高端光通信模块120万只。
2024-07-01Board approved changing ~446 million yuan of raised funds from the Suzhou Innolight high-end optical module base project to the new Tongling Innolight high-end optical module industrial park phase III project, targeting annual capacity of 1.2 million high-end optical modules.董事会批准将原‘苏州旭创高端光模块生产基地项目’中约4.46亿元募集资金变更用于建设新增‘铜陵旭创高端光模块产业园三期项目’，达产后预计年产高端光模块120万只。
2024-08-25The Tongling Xuchuang high-end optical module production base project has been completed and closed. The Suzhou Xuchuang optical module business headquarters and R&D center project is ongoing.铜陵旭创高端光模块生产基地项目已实施完毕并结项；苏州旭创光模块业务总部暨研发中心建设项目持续推进中。
2025-08-27Company continues to advance the 'Tongling Xuchuang High-end Optical Module Industrial Park Phase III' fundraising project to boost high-end product capacity.公司持续推进募集资金建设项目“铜陵旭创高端光模块产业园三期项目”，以提升高端产品产能。
2025-11-06The 'High-end Optical Module Industrial Park Phase III Project' has been completed and closed, with cumulative investment of RMB 451.6522 million in raised funds.“高端光模块产业园三期项目”已实施完毕并结项，累计投入募集资金45,165.22万元。
2026-03-30Zhongji Innolight announced that the 'Tongling Xuchuang High-end Optical Module Industrial Park Phase III Project' has been completed, enhancing high-end product capacity.中际旭创公告，“铜陵旭创高端光模块产业园三期项目”已实施完毕，提升了高端产品产能。
2026-04-01Announced that the Suzhou Xuchuang and Tongling Xuchuang high-end optical module production base projects under the private placement have invested 228 million yuan and 539 million yuan respectively, generating benefits of 390 million yuan and 924 million yuan in 2025.定增募投的苏州旭创、铜陵旭创两大高端光模块生产基地项目分别投入2.28亿元、5.39亿元，2025年分别实现效益3.9亿元、9.24亿元。
Supply chain: EML and optical chip tightness供应链：EML与光芯片紧缺
17 · 2024-06-17 → 2026-06-21
▾
EML and optical chip supply remained tight through 2024-2025, with gradual easing expected from Q2 2025.EML及光芯片供应2024-2025年持续紧张，预计2025年Q2起逐步缓解。
2024-06-17Optical chip supply faces varying degrees of tightness; company is planning and locking capacity with upstream suppliers to ensure 800G ramp-up needs.光芯片供应会存在不同程度的紧张，公司已将需求反馈给上游供应商，提前规划和锁定产能，预计能保证未来800G上量的需求。
2024-08-12Company expressed optimism about the prospects of domestic optical chips.公司表示看好国内光芯片前景。
2024-10-23Zhongji Innolight noted that some chip suppliers have intentions to raise prices, but the company can mitigate cost increases through advance stocking, bulk procurement, and technology route selection.中际旭创表示，确有一些芯片厂商有涨价意向，但公司通过提前备货、规模采购以及技术路线选择等手段能有效应对成本增加。
2024-10-23Zhongji Innolight stated that the optical chip supply shortage will not ease in Q4 2024 due to sustained strong demand for 400G and 800G products, but expects relief in 2025 as silicon photonics shipments increase and chip makers expand capacity.中际旭创指出，光芯片供应短缺在2024年第四季度暂不会缓解，因400G和800G需求旺盛持续到年底；但随着硅光出货比例提升和光芯片厂商扩产，2025年将得到缓解。
2025-02-09Zhongji Innolight confirms that its chips used in optical modules are mainly purchased externally.中际旭创确认光模块所用芯片主要是外购的。
2025-03-09Zhongji Innolight stated that the tight supply of optical chips for 800G and 400G has not significantly eased in 2025 but is expected to gradually improve in the coming quarters.中际旭创表示2025年800G和400G光芯片紧张状况仍未明显缓解，但预计未来几个季度将逐渐改善。
2025-04-06EML optical chip supply tightness is expected to ease from Q2 2025.EML光芯片供应紧张预计从2025年二季度起缓解。
2025-04-21EML chip supply tightness gradually easing; silicon photonics modules expected to grow further in Q2-Q3; overseas chip makers expanding capacity.EML光芯片供应紧张逐步缓解；硅光模块预计Q2到Q3进一步增长；海外光芯片厂商正在扩充产能。
2025-06-29Company confirmed it has actively stocked up and locked in core raw material needs for next year amid tight upstream supply chain.公司确认已积极备货，锁定明年核心原材料需求，应对上游供应链紧张。
2025-08-31Company confirms that some raw material shortages persist, but it has actively stocked up and locked in core raw material demand.公司确认部分原材料紧缺情况仍存在，但已积极备货，锁定核心原材料需求。
2025-10-31Institutional call: Optical chip supply is tight; company has locked in key raw materials through early planning and orders, and suppliers are cooperating to ensure supply chain stability.机构电话会议：当前光芯片供应较为紧张；公司已通过提前规划与下单锁定关键原材料，供应商正积极协作保障供应链稳定。
2025-12-21Zhongji Innolight confirmed that its orders and shipments of optical modules remain normal despite storage chip shortages affecting some data center projects.中际旭创确认，尽管存储芯片紧缺影响部分数据中心项目，公司光模块订单和出货一切正常。
2025-12-21Zhongji Innolight stated it is actively stocking materials for different technology routes, including both silicon photonics and EML.中际旭创表示，针对不同技术方案（包括硅光和EML）都有积极备货。
2026-04-12Denied market rumors that 800G module delivery plan was cut from 15 million to 12 million units due to optical chip shortage; stated orders and deliveries are proceeding normally, core raw materials are well-stocked, and backup suppliers are being introduced.否认市场传言称因光芯片短缺将800G光模块交付计划从1500万只降至1200万只；表示订单获取及交付正常有序，核心原材料已积极备货并持续导入备选供应商。
2026-04-17At the institutional phone conference, stated that many key customers have already placed orders for 2026 and are actively preparing early orders for 2027; raw materials remain tight, and the company is accelerating supply chain preparation.在机构电话会议上表示，多家重点客户已下达2026年订单并积极准备2027年早期订单；原材料仍处紧张状态，公司正加快供应链准备。
2026-06-14Zhongji Innolight stated on the interactive platform that it is actively stocking core materials to meet production needs and customer deliveries.中际旭创在互动平台表示，公司一直在积极对核心物料进行备货，以满足生产需求和客户交付。
2026-06-21Zhongji Innolight stated on the interactive platform that its core raw material supply is stable and it is actively stocking for order delivery.中际旭创在互动平台表示，公司核心原材料供应稳定，并对上游核心物料积极备货以支持订单交付。
Financial & operational results财务与运营业绩
3 · 2024-07-14 → 2026-02-27
▾
Events disclosing financial results, profit data, non-recurring items, and operational performance.披露财务业绩、利润数据、非经常性项目及运营表现的事件。
2024-07-14Subsidiary Suzhou Innolight achieved net profit of approximately 2.2-2.7 billion yuan before deducting share-based compensation, up 190.34%-256.32% YoY.子公司苏州旭创扣除股权激励费用前实现净利润约22-27亿元，同比增长190.34%-256.32%。
2025-01-24FY2024 non-recurring items include: share-based compensation expense ~RMB 192 million, impairment and amortization ~RMB 102 million, disposal of equity investment gains and government grants ~RMB 75 million net positive.2024年非经常性损益包括：股权激励费用约1.92亿元，减值及摊销约1.02亿元，处置股权收益及政府补助等净增加约7500万元。
2026-02-27Optical module business achieved net profit of approximately 11.764 billion yuan in 2025, up 111.77% from 5.66 billion yuan in 2024; after deducting 222 million yuan in equity incentive costs, net profit was 11.986 billion yuan.2025年光模块业务实现净利润约117.64亿元，较2024年的56.60亿元同比增长111.77%；扣除股权激励费用2.22亿元后，净利润为119.86亿元。
Share pledges and reductions by major shareholders大股东质押与减持
17 · 2024-07-26 → 2026-05-22
▾
Controlling shareholder and specific shareholders pledged and reduced shares for funding needs.控股股东及特定股东因资金需求进行质押和减持。
2024-07-26Specific shareholder Suzhou Yixingfu Enterprise Management Center pledged part of its shares to CITIC Securities for stock pledge transactions.特定股东苏州益兴福企业管理中心将其持有的部分股票与中信证券办理了股票质押交易业务。
2025-01-03Shareholder Suzhou Yunchangjin Enterprise Management Center (Limited Partnership) pledged 4.5 million shares (0.4% of total equity) to CITIC Securities.股东苏州云昌锦企业管理中心(有限合伙)向中信证券质押450万股（占总股本0.4%）。
2025-02-25Zhongji Innolight's controlling shareholder Zhongji Holdings pledges 2.6 million shares (0.23% of total shares) to China Minsheng Bank Yantai Branch.中际旭创控股股东中际控股向民生银行烟台分行质押260万股（占总股本0.23%）。
2025-03-07Specific shareholder Yixingfu pledged 3.6876 million shares to Haitong Securities and released a pledge on 5.1031 million shares; cumulative pledged shares of Yixingfu and its concert parties reached 17.4116 million shares.特定股东益兴福将368.76万股质押给海通证券，并解除510.31万股质押；益兴福及其一致行动人累计质押1741.16万股。
2025-05-22Specific shareholder Suzhou Yixingfu Enterprise Management Center (Limited Partnership) pledged 2.2 million shares and released 0.7 million shares in pledge transactions with CITIC Securities.特定股东苏州益兴福企业管理中心（有限合伙）与中信证券办理了220万股质押及70万股解除质押业务。
2025-06-27Specific shareholder Suzhou Yixingfu Enterprise Management Center pledged 3.2 million shares to CITIC Securities (2025-06-25 to 2027-06-25) and released 3.3 million shares from pledge.特定股东苏州益兴福企业管理中心向中信证券质押320万股（2025年6月25日至2027年6月25日），并解除质押330万股。
2025-07-03Controlling shareholder Shandong Zhongji Investment Holdings Co., Ltd. released a pledge of 16.52 million shares (13.01% of its holdings, 1.49% of total shares). After release, cumulative pledged shares are 4.6 million (3.62% of its holdings, 0.41% of total shares).控股股东山东中际投资控股有限公司解除质押1652万股（占其所持13.01%及总股本1.49%），解除后累计质押460万股（占其所持3.62%及总股本0.41%）。
2025-08-01Director and Executive VP Wang Xiaodong plans to reduce his holdings by up to 719,052 shares (0.06% of total) within three months via centralized竞价 for personal funding needs.董事、常务副总裁王晓东计划未来三个月内以集中竞价方式减持不超过719,052股（占总股本0.06%），原因为个人资金需求。
2025-09-01Zhongji Innolight executives disclosed share reduction plans due to personal capital needs, while management remains optimistic about the company's future.中际旭创部分高管因个人资金需求披露减持计划，管理层持续看好公司未来发展。
2025-10-09Third-largest shareholder Suzhou Yixingfu and its concert parties sold 4.6341 million shares from Jul 1 to Sep 17, cashing out about 1 billion yuan.第三大股东苏州益兴福及其一致行动人自7月1日至9月17日合计减持463.41万股，套现金额约10亿元。
2025-11-13Controlling shareholder Shandong Zhongji Investment Holdings plans to reduce holdings by up to 5.5 million shares (0.49% of total) via block trades within 3 months starting Oct 28, 2025.控股股东山东中际投资控股计划自2025年10月28日起三个月内以大宗交易减持不超过550万股（占总股本0.49%）。
2025-11-24Director and Executive VP Wang Xiaodong completed share reduction plan, selling 708,552 shares at average price RMB 414.24, totaling approximately RMB 294 million, reducing stake to 0.195%.董事、常务副总裁王晓东减持计划完成，以均价414.24元减持708,552股，套现约2.94亿元，持股降至0.195%。
2026-01-07Major shareholder Suzhou Yixingfu Enterprise Management Center pledged 4.75 million shares (10.14% of its holdings) and Suzhou Yunchangjin Enterprise Management Center pledged 1.43 million shares (5.93% of its holdings) for loan collateral.大股东苏州益兴福企业管理中心质押475万股（占其所持股份10.14%），苏州云昌锦企业管理中心质押143万股（占其所持股份5.93%），用于质押贷款。
2026-01-16Controlling shareholder Shandong Zhongji Investment Holding completed a share reduction of 5.5 million shares (0.49% of total shares) via block trade at an average price of 521.73 yuan per share, totaling about 2.609 billion yuan.控股股东山东中际投资控股通过大宗交易减持550万股（占总股本0.49%），均价521.73元/股，合计套现约26.09亿元。
2026-03-06Zhongji Innolight announced that shareholder Suzhou Yixingfu Enterprise Management Center (Limited Partnership) partially released and extended stock pledges with Guotai Haitong Securities.中际旭创公告，特定股东苏州益兴福企业管理中心（有限合伙）与国泰海通证券办理了部分股份解除质押及延期购回业务。
2026-03-23Shareholders Yixingfu and Yunchangjin extended the repurchase of a total of 1.924 million pledged shares, with new expiry dates in March 2027.股东益兴福和云昌锦合计192.4万股质押延期购回，新到期日为2027年3月。
2026-05-22Major shareholder Suzhou Yixingfu Enterprise Management Center pledged 173,000 shares for loans; cumulative pledged shares reached 805,000, representing 17.27% of its holdings.大股东苏州益兴福企业管理中心质押173万股用于贷款，累计质押80.5万股，占其持股17.27%。
Share repurchase & capital changes股份回购与资本变动
7 · 2024-08-08 → 2025-06-28
▾
Events regarding share repurchase, cancellation, registered capital changes, and related shareholder approvals.关于股份回购、注销、注册资本变更及相关股东批准的事件。
2024-08-08Board of Directors approved a proposal to change the use of some raised funds and to amend the company's articles of association regarding registered capital; these will be submitted to the 2nd extraordinary general meeting of 2024 on September 6, 2024.董事会审议通过了变更部分募集资金用途及变更注册资本暨修订公司章程的议案；将提交2024年9月6日召开的2024年第二次临时股东大会审议。
2024-09-18Zhongji Innolight increased its registered capital from approximately RMB 800 million to approximately RMB 1.12 billion.中际旭创注册资本由约8亿元增至约11.2亿元。
2025-02-04Zhongji Innolight announces an extraordinary general meeting on 2025-02-21 to vote on changing the purpose of repurchased shares from employee stock plan to cancellation and reducing registered capital, and electing an independent director.中际旭创公告将于2025年2月21日召开临时股东大会，审议变更回购股份用途为注销并减少注册资本，以及补选独立董事的议案。
2025-02-05Zhongji Innolight plans to cancel 16,465,985 repurchased shares (1.47% of total shares) and reduce registered capital, changing the purpose from employee stock plan to cancellation.中际旭创拟将回购专用账户中的16,465,985股（占总股本1.47%）用途变更为注销并减少注册资本。
2025-02-21Zhongji Innolight's 2025 first extraordinary general meeting approves the resolution to change the purpose of repurchased shares to cancellation and reduce registered capital.中际旭创2025年第一次临时股东大会审议通过变更回购股份用途为注销并减少注册资本的议案。
2025-03-06Zhongji Innolight completed the cancellation of 16,465,985 repurchased shares on March 5, 2025, reducing total shares from 1,121,166,509 to 1,104,700,524.中际旭创于2025年3月5日完成注销16,465,985股回购股份，总股本从1,121,166,509股减少至1,104,700,524股。
2025-06-28Company completed partial fundraising project closure and cancellation of special accounts for the 2021 private placement (total net proceeds 2.665 billion yuan).公司完成部分募集资金投资项目结项并注销专项账户（2021年定增募集资金净额26.65亿元）。
Copper connection and AEC products铜连接与AEC产品
1 · 2024-09-01
▾
Set up copper connection solutions company; AEC products being sampled to customers.设立铜连接解决方案公司；AEC产品正在客户送样。
2024-09-01Company clarified that copper and optical connections have different application scenarios; NVL72/NVL36 copper cabling does not reduce optical module usage in data centers.公司澄清铜连接和光连接应用场景不同，NVL72/NVL36采用铜缆并未减少数据中心内光模块的使用。
Awards & certifications奖项与认证
2 · 2024-10-16 → 2024-10-26
▾
Events where the company received awards, certifications, or high ratings for its practices.公司因其实践获得奖项、认证或高评级的事件。
2024-10-16Zhongji Innolight received an A-grade (Excellent) rating in the 2023 information disclosure evaluation by the Shenzhen Stock Exchange, marking the 7th consecutive year since 2017.中际旭创在深交所2023年度信息披露评价中获得A级（优秀），自2017年起连续7年获此殊荣。
2024-10-26Zhongji Innolight won the 'Golden Letter Award' (Jin Xin Pi Jiang) at the 26th Listed Company Golden Bull Awards, recognizing its excellence in information disclosure and investor relations management.中际旭创在第二十六届上市公司金牛奖评选中荣获“金信披奖”，表彰其在信息披露和投资者关系管理方面的优异表现。
Market & customer updates市场与客户动态
5 · 2024-11-25 → 2026-04-12
▾
Events about market segments, customer concentration, sales regions, and end-market applications.关于细分市场、客户集中度、销售区域和终端市场应用的事件。
2024-11-25Zhongji Innolight stated that its 800G optical modules are mainly sold to overseas markets.中际旭创表示目前800G光模块主要销至海外市场。
2024-11-25Zhongji Innolight stated that its products' core application areas are data centers and telecommunications.中际旭创表示其产品核心应用领域在数据中心和电信领域。
2025-08-31Company states its current optical module products are mainly applicable to Scale-out scenarios.公司表示目前的光模块产品主要适用于Scale-out场景。
2025-09-01Zhongji Innolight stated that its optical module products are mainly applicable to Scale-out scenarios.中际旭创表示，其光模块产品主要适用于Scale-out场景。
2026-04-12Confirmed that no single customer accounted for more than 30% of revenue in 2025; the company will continue to consolidate existing customer relationships and actively expand new customers.确认2025年单一客户营收占比均未超过30%；将持续巩固现有客户关系并积极拓展新客户。
Equity divestiture: JiYiWei Semiconductor stake sale股权出售：出售集益威半导体股权
1 · 2024-12-30
▾
Sold 3.36% stake in JiYiWei Semiconductor for RMB 103 million, generating gain of RMB 25.92 million.以1.03亿元出售集益威半导体3.36%股权，收益2592万元。
2024-12-30Zhongji Innolight's board approved the transfer of its wholly-owned subsidiary Suzhou Xuchuang's 3.3619% stake in JiYiWei Semiconductor (Shanghai) for a total consideration of 103 million yuan, generating an estimated gain of 25.92 million yuan; the stake was sold to Suzhou Qianrong Xurun Venture Capital (2.2732%) and Shanghai Yuanchuang Future Private Equity Fund (1.0887%).中际旭创董事会审议通过全资子公司苏州旭创转让所持集益威半导体（上海）3.3619%股权，交易总价款1.03亿元，预计产生2592万元收益；其中2.2732%转让给苏州乾融旭润创投，1.0887%转让给上海元创未来私募基金。
Automotive optoelectronics (ReinOCS brand)汽车光电子（智驰凌域品牌）
7 · 2025-02-09 → 2025-12-21
▾
Launched ReinOCS brand for automotive optical communication, showcased FTTV solution and high-bandwidth modules at 2025 Shanghai Auto Show.推出智驰凌域品牌，在2025上海车展展示FTTV方案及车载高速光模块。
2025-02-09Zhongji Innolight discloses that it has product and business layout in intelligent driving areas including automotive vision sensors, electronic rearview mirrors, and automotive optical interconnection.中际旭创披露已在汽车视觉传感器、电子后视镜、汽车光互联等智能驾驶领域有产品和业务布局。
2025-03-30Zhongji Innolight stated that it is actively developing photoelectric sensing and optical connectivity solutions required for autonomous driving, hoping to grow this business.中际旭创表示正在积极开发自动驾驶所需的光电传感和光连接解决方案，希望该业务能发展起来。
2025-04-22Automotive optoelectronics brand ZhiChi Lingyu (ReinOCS) and partner CheLianTianXia showcased FTTV (Fiber to the Vehicle) solution and smart sensors at 2025 Shanghai Auto Show.汽车光电子品牌智驰领驭（ReinOCS）与合作伙伴车联天下在2025上海车展展示FTTV车载光互联解决方案及智能传感器。
2025-04-24Zhongji Innolight and CheLianTianXia jointly launched 'opto-electronic fusion solution' and next-gen high-bandwidth automotive optical communication module at 2025 Shanghai Auto Show.中际旭创与车联天下在2025上海车展联合发布“光电融合方案”及新一代车载高带宽光通信传输模块产品。
2025-04-30Company has developed high-speed, high-bandwidth automotive optical interconnect solutions for autonomous driving and is actively marketing them.公司已开发出面向自动驾驶的高速率大带宽乘用车光互连解决方案产品，目前正在积极进行市场推广。
2025-05-25Vehicle-mounted optical module business is still in the market introduction stage, with limited short-term impact on performance.车载光模块业务尚处于市场导入阶段，短期对经营业绩影响较小。
2025-12-21Zhongji Innolight stated that its automotive optical communication business is still progressing but large-scale application will take time.中际旭创表示，车载光通信相关业务仍在持续推进中，但规模应用尚需时间。
Executive & governance高管与公司治理
3 · 2025-02-21 → 2026-06-12
▾
Events involving board elections, management appointments, governance changes, and shareholder meetings.涉及董事会选举、管理层任命、治理变更和股东大会的事件。
2025-02-21Zhongji Innolight elects YAN ZHUANG (庄岩) as an independent director at the extraordinary general meeting; he has obtained the independent director training certificate.中际旭创临时股东大会选举庄岩为独立董事，其已取得独立董事培训证明。
2026-06-12Zhongji Innolight held the second extraordinary general meeting and elected Liu Sheng as chairman and president, with other senior management appointments for a three-year term.中际旭创召开2026年第二次临时股东会及第六届董事会第一次会议，选举刘圣为董事长兼总裁，其他高管任期三年。
2026-06-12Zhongji Innolight elected Chen Caiyun as employee representative director on the sixth board at a职工代表大会.中际旭创召开职工代表大会，选举陈彩云为第六届董事会职工代表董事。
Joint venture: liquid cooling (Shenlin Zhileng)合资公司：液冷（申菱智冷）
7 · 2025-02-28 → 2026-06-01
▾
Established JV with Dongyangguang for data center liquid cooling thermal management solutions.与东阳光合资成立数据中心液冷热管理解决方案公司。
2025-02-28Zhongji Innolight and Dongyangguang Liquid Cooling Technology (a subsidiary of Dongyangguang) sign an agreement to jointly establish Guangdong Shenlin Zhileng Technology Co., Ltd. in Guangzhou, with registered capital of RMB 100 million. Zhongji Innolight contributes RMB 51 million for a 51% stake, focusing on liquid cooling thermal management solutions for data centers.中际旭创与东阳光液冷科技签署协议，共同出资在广州设立广东深凛智冷科技有限公司，注册资本1亿元，中际旭创出资5100万元持股51%，聚焦数据中心液冷散热方案。
2025-03-01Zhongji Innolight and Dongyangguang's wholly-owned subsidiary Liquid Cooling Technology jointly established a JV, Guangdong Shenlin Zhileng Technology Co., Ltd., with registered capital of 100 million yuan; Zhongji Innolight contributed 51 million yuan (51%) and Liquid Cooling contributed 49 million yuan (49%), focusing on global promotion of liquid cooling thermal management solutions.中际旭创与东阳光全资子公司液冷科技共同出资成立合资公司广东深凛智冷科技有限公司，注册资本1亿元；中际旭创出资5100万元（持股51%），液冷科技出资4900万元（持股49%），专注于液冷热管理整体解决方案的全球推广。
2025-03-09Zhongji Innolight stated that the new JV Shenlin Zhileng will focus on R&D, manufacturing, and sales of liquid cooling solutions and core components for data centers.中际旭创表示新设合资公司深凛智冷将聚焦数据中心液冷散热方案及核心组件的研发、制造与销售。
2025-03-10Guangdong Shenlin Zhileng Technology Co., Ltd. was officially established with legal representative Ding Hai, registered capital of 100 million yuan, and business scope including IoT technology R&D and AI industry application system integration.广东深凛智冷科技有限公司正式成立，法定代表人为丁海，注册资本1亿元，经营范围包含物联网技术研发、人工智能行业应用系统集成服务等。
2025-08-27Company has set up copper connection solutions and liquid cooling solutions companies with partners; AEC products are being sampled to domestic and overseas customers; liquid cooling products are under R&D with some samples sent.公司与合作伙伴设立了铜连接解决方案公司及液冷解决方案公司；AEC产品正在送样给国内外客户；液冷产品正在研发，部分已送样。
2026-04-07Announced a joint venture with Guangdong Dongyangguang Liquid Cooling Technology Co., Ltd. to establish Guangdong Shenling Zhileng Technology Co., Ltd., with the company contributing 51 million yuan (51% stake) and the partner contributing 49 million yuan (49% stake), to expand into the data center liquid cooling industry chain.宣布与广东东阳光液冷科技有限公司共同设立广东深凛智冷科技有限公司，公司出资5100万元（持股51%），对方出资4900万元（持股49%），拓展数据中心液冷产业链。
2026-06-01Zhongji Innolight, via a joint venture Guangdong Deep Zhiling Technology, launched a MOM project with Hualei Xuntong to digitalize liquid cooling product manufacturing.中际旭创通过合资公司广东深度智冷科技，与华磊迅拓启动MOM项目，推进液冷板等产品制造数字化。
Related-party transactions & guarantees关联交易与担保
3 · 2025-08-26 → 2026-01-12
▾
Events about related-party transactions, external guarantees, and supplier relationships.关于关联交易、对外担保和供应商关系的事件。
2025-08-26Company disclosed 4 external guarantees, with the guarantee recipient being Suzhou Xuchuang Technology Co., Ltd.公司披露4笔对外担保，被担保方为苏州旭创科技有限公司。
2025-12-30Lieqi Intelligent, a key supplier of optical module packaging equipment, disclosed in its IPO prospectus that sales to Zhongji Innolight accounted for 57.12%-65.55% of its revenue from 2022 to H1 2025.猎奇智能（光模块封装设备供应商）在IPO招股书中披露，2022年至2025年上半年对中际旭创的销售收入占比为57.12%-65.55%。
2026-01-12Zhongji Innolight and its subsidiaries expect 2026 daily related-party transactions with PINEWAVE PTE. LTD. to not exceed $100,000 million in total.中际旭创及子公司预计2026年度与关联方PINEWAVE PTE. LTD.的日常经营性关联交易累计金额不超过100,000万美元。
Investor relations & analyst actions投资者关系与分析师行动
3 · 2025-08-27 → 2026-04-17
▾
Events involving investor surveys, analyst reports, institutional calls, and shareholder stake changes.涉及投资者调研、分析师报告、机构电话会议和股东持股变动的事件。
2025-08-27Company held investor survey with China Asset Management (华夏基金) and others; Director, VP and CFO Wang Xiaoli answered questions.公司接受华夏基金等投资者调研，董事、副总裁、财务总监王晓丽回答了问题。
2026-04-16Announced that Hong Kong Securities Clearing Company Ltd. increased its stake by approximately 15.6318 million shares in Q1 2026, raising its shareholding ratio to 6.97%.披露香港中央结算有限公司在2026年一季度增持约1563.18万股，持股比例升至6.97%。
2026-04-17Goldman Sachs raised the target price from 791 yuan to 1,187 yuan, maintaining a 'buy' rating, citing AI-driven 800G/1.6T optical module shipment growth.高盛将目标价从791元上调至1187元，维持“买入”评级，理由为AI驱动的800G/1.6T光模块出货量提升。
Index inclusions and ESG rating指数纳入与ESG评级
4 · 2025-09-03 → 2026-06-23
▾
Included in FTSE China A50, CSI 50, and CSI A50 indices; received AAA ESG rating from CSI Index.纳入富时中国A50、中证50、中证A50指数；获中证指数AAA ESG评级。
2025-09-03FTSE Russell announced the inclusion of Zhongji Innolight in the FTSE China A50 Index, effective after market close on September 19, 2025.富时罗素宣布将中际旭创纳入富时中国A50指数，于2025年9月19日收盘后生效。
2025-11-30Zhongji Innolight was included in the CSI 50 Index, effective after market close on December 12, 2025.中际旭创被纳入中证50指数，将于2025年12月12日收盘后生效。
2025-12-09Zhongji Innolight will be added to the CSI A50 Index, effective after market close on December 12, 2025.中际旭创将调入中证A50指数，于2025年12月12日收市后生效。
2026-06-23Zhongji Innolight received an AAA ESG rating from CSI Index, ranking first among 9 companies in the communication network equipment sector.中际旭创获得中证指数ESG评级AAA级，在申万三级通信网络设备及器件行业9家公司中排名第一。
Hong Kong IPO plan香港IPO计划
7 · 2025-10-08 → 2026-06-18
▾
Considered and prepared for H-share listing on HKEX from 2025, with fundraising target up to USD 7 billion.2025年起考虑并筹备港交所H股上市，募资目标高达70亿美元。
2025-10-08Zhongji Innolight is considering a Hong Kong IPO, in early-stage discussions with advisers; size and timing not yet determined.中际旭创正考虑赴港上市，已与顾问就潜在IPO进行初步磋商，发行规模和时间尚未确定。
2025-11-10Board authorized management to initiate preparatory work for H-share listing on the Hong Kong Stock Exchange, with authorization valid for 12 months.董事会授权管理层启动H股并在香港联交所上市的前期筹备工作，授权期限12个月。
2025-11-12Media reported Zhongji Innolight has selected banks (CICC, GF Securities, Goldman Sachs, Morgan Stanley) for Hong Kong IPO, planning to raise at least USD 3 billion.媒体报道中际旭创已为香港上市挑选投行（中金、广发、高盛、摩根士丹利），拟集资至少30亿美元。
2026-01-07Zhongji Innolight plans to submit a Hong Kong IPO application as early as January, seeking an A+H dual listing.中际旭创最早将于1月提交港股上市申请，谋求A+H两地上市。
2026-04-02Secretly submitted a listing application to the Hong Kong Stock Exchange for a main board IPO, planning to raise at least US$3 billion, with a maximum issuance of 8% of total share capital and a 15% over-allotment option.已秘密向港交所提交主板上市申请，计划募资至少30亿美元，发行比例不超过总股本的8%并授予15%超额配售权。
2026-04-22Market sources reported that the company plans to list in Hong Kong as soon as June, with the fundraising scale increased from the previously reported US$3 billion to US$5 billion, potentially the largest Hong Kong IPO since CATL.市场消息称公司计划最快6月赴港上市，募资规模由早前传言的30亿美元增至50亿美元，或成为宁德时代以来香港最大规模新股上市。
2026-06-18Reuters reported that Zhongji Innolight plans to launch a Hong Kong IPO as early as mid-July, targeting up to USD 7 billion in fundraising.路透社报道，中际旭创计划最早于7月中旬在香港启动IPO，募资规模最高可达70亿美元。
3.2T optical module pre-research3.2T光模块预研
1 · 2025-10-12
▾
Pre-research on 3.2T optical modules began in 2024, with expected volume production in 2026-2027.2024年开始预研3.2T光模块，预计2026-2027年量产。
2025-10-12Company confirmed it will carry out custom development and market introduction of 3.2T optical modules according to customer demand, without delay.公司确认将根据客户实际需求做好3.2T光模块的定制开发和市场导入工作，不会耽误。
Strategic partnership: Black Sesame Technologies战略合作：黑芝麻智能
1 · 2025-11-19
▾
Reached strategic cooperation with Black Sesame Technologies in optical communication, ADAS, embodied intelligence, and advanced packaging.与黑芝麻智能在光通信、ADAS、具身智能和先进封装等领域达成战略合作。
2025-11-19Wholly-owned subsidiary Zhichi Zhiyuan reached a strategic cooperation with Black Sesame Technologies in areas including optical communication, automotive ADAS, embodied intelligent terminals, and advanced packaging.全资子公司智驰致远与黑芝麻智能达成战略合作，领域涵盖光通信、汽车辅助驾驶、具身智能终端、先进封装等。
TeraHop subsidiary capital increase and warrantsTeraHop子公司增资与认股权证
2 · 2025-11-21 → 2026-01-12
▾
TeraHop received USD 517 million capital increase from ADIA and Temasek; issued warrants to INFIEVO.TeraHop获ADIA和淡马锡5.17亿美元增资；向INFIEVO发行认股权证。
2025-11-21Controlled subsidiary TeraHop received a USD 517 million capital increase from new investors Platinum Orchid (ADIA), Daxue (Temasek), and True Light (Temasek), with Zhongji Innolight's effective stake remaining at 67.70%.控股孙公司TeraHop获新股东Platinum Orchid（阿布扎比投资局）、Daxue（淡马锡）、True Light（淡马锡）合计增资5.17亿美元，中际旭创持股比例仍为67.70%。
2026-01-12Controlled subsidiary TeraHop Pte. Ltd. plans to issue warrants to INFIEVO HOLDING PTE. LTD. for up to 6,712,155 shares at $32.16 per share, representing about 5% of TeraHop's enlarged share capital.控股孙公司TeraHop Pte. Ltd.拟向INFIEVO HOLDING PTE. LTD.发行认股权证，最多认购6,712,155股，行权价32.16美元/股，约占增资后股本总额的5%。
