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| HSI1 | 23,919.50 | 0.00 | -- |
| HSCEI1 | 8,057.59 | 0.00 | -- |
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2026-11-04 11:02:30 Citi published a research report stating that the A shares and H shares of ZJ INNOLIGHT (03308.HK) corrected by 12.7% and 10.9% respectively on Tuesday (3rd), which it believes was related to investor concerns over order cuts. Management clarified that there were no broad-based order reductions, with only limited structural adjustments made by individual customers. The broker noted that demand for 800G and 1.6T products remains strong, with most 2027 orders already locked in, while at least one major customer has provided clear demand guidance for 2028. No signs of demand slowdown were seen from 4Q26 to 1Q27. Optical module supply remains tight and pricing is resilient, creating a favorable overall pricing environment. Supply of DSPs, optical chips and PCBs has gradually improved since 3Q26, which should support QoQ shipment growth over the coming quarters. The company believes the potential merger between leading DSP and laser suppliers will not have a significant impact on supply availability. Citi believes the share price correction triggered by order adjustments and supplier merger concerns may have been excessive, while fundamentals remain solid, although the stock has been dragged down by fading artificial intelligence sentiment. The broker maintained its Buy rating, with an unchanged H-share TP of HKD1,394 and an unchanged A-share TP of RMB1,212 for ZHONGJI INNOLIGHT (300308.SZ). (da/ad)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |