Key Points
- Sector snapshot: 14 STAR Market (科创板) optical‑communications companies reported H1 2025 results, with nearly 80% posting year‑over‑year growth in parent‑company net profit — driven by AI compute and data‑center investment.
- Aggregate results: Combined revenue ¥25.104 billion RMB (up 28.9% YoY) and combined net profit ¥4.765 billion RMB (up 65.3% YoY), signaling margin expansion across the cohort.
- Standouts & market reaction: Shijia Guangzi (仕佳光子) recorded H1 revenue of ¥993M (up 121.12%) and parent net profit up 1,712%; Guodun Quantum (国盾量子) led share‑price gains with a year‑to‑date rise of 331.59% (others posted double‑ and triple‑digit gains).
- Dividends and outlook: Multiple mid‑year payouts are rising — 810 A‑share companies disclosed mid‑year cash plans totaling ¥642.808 billion RMB (a 15.06% increase YoY). Analysts point to sustained AI‑driven demand; LightCounting forecasts a 35% YoY jump in the Ethernet optical‑module market to $18.9 billion in 2026.
AI wave boosts optical communications
Updated: 2025.09.02
Overview — STAR Market optical communications snapshot
14 STAR Market (科创板) optical‑communications companies released half‑year reports for H1 2025.
Nearly 80% of those firms posted year‑over‑year growth in net profit attributable to the parent company.
This is a clear sector‑level signal tied to the broader AI compute and data‑center investment cycle.
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Industry‑level numbers — revenue and profit growth
Combined revenue for the 14 STAR Market optical‑communications companies was ¥25.104 billion RMB ($3.49 billion USD) in H1 2025.
That compares with ¥19.475 billion RMB ($2.71 billion USD) in H1 2024, a 28.9% increase.
Combined net profit was ¥4.765 billion RMB ($661.8 million USD) in H1 2025.
That is up 65.3% from ¥2.883 billion RMB ($400.4 million USD) in H1 2024.
Insight: net‑profit growth outpaced revenue growth, indicating margin expansion across the group rather than just volume gains.
Why the surge? — AI compute demand as the main growth driver
Market observers point squarely to the rapid expansion of artificial intelligence (AI).
As model sizes grow and application diversity expands, data‑center interconnectivity and high‑speed optical networking become mission critical.
The result is stronger sales of optical chips, modules, and cabling products across this cohort.
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Top company highlights — big H1 2025 performers
Selected standouts from the 14 STAR Market names showed impressive growth.
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Shijia Guangzi (Shijia Guangzi 仕佳光子) reported H1 revenue of ¥993 million RMB ($137.92 million USD), up 121.12% year‑over‑year.
The company’s net profit attributable to the parent was ¥217 million RMB ($30.14 million USD), a 1,712% increase.
Revenue from optical chips and devices reached ¥700 million RMB ($97.22 million USD), up about 191%.
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Dingtong Keji (Dingtong Keji 鼎通科技) — net profit rose 134.06% to ¥115 million RMB ($15.97 million USD).
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Changying Tong (Changying Tong 长盈通) — net profit rose 91.82% to ¥29 million RMB ($4.03 million USD).
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Canqin Keji (Canqin Keji 灿勤科技) — net profit rose 51.94% to ¥51 million RMB ($7.08 million USD).
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Stock market reaction — big share‑price winners
Strong H1 earnings translated into sharp share‑price gains for many names.
Guodun Quantum (Guodun Liangzi 国盾量子) led with a year‑to‑date gain exceeding 331.59%.
Dingtong Keji and Dekeli (Dekeli 德科立) more than doubled over the tracked interval, rising roughly 135% and 125%, respectively.
Other H1 gainers above 50% included Shijia Guangzi, Youfang Keji (Youfang Keji 有方科技), Yinghantong (Yinghantong 映翰通), Changying Tong and Sinan Navigation (Sinan Daohang 司南导航).
Dividends and the “multiple payouts per year” trend
Mid‑year and multiple annual cash dividends are becoming common.
That shift follows a capital‑market guideline update in April 2024 encouraging dividend predictability and frequency.
Third‑party market data show that as of August 30, 2025, 810 A‑share companies disclosed mid‑year cash dividend plans totaling about ¥642.808 billion RMB ($89.28 billion USD).
That figure is a 15.06% increase from the same period in 2024 and represents a record high.
Several optical‑communications companies announced mid‑year distributions:
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Weisheng Information (Weisheng Xinxi 威胜信息) proposed a cash dividend of ¥2.5 per 10 shares, totaling ¥122 million RMB ($16.94 million USD), representing a payout ratio of 40%.
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Dingtong Keji proposed ¥2 per 10 shares, totaling ¥27.84 million RMB ($3.87 million USD), equal to 24.13% of its half‑year net profit.
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Dekeli proposed ¥1 per 10 shares, with an expected total cash payout of ¥15.83 million RMB ($2.20 million USD).
- LightCounting 2026 Ethernet Optical Module Market Forecast: $18.9 Billion USD
- Year-over-Year Increase (LightCounting): 35%
- LightCounting 2030 Market Projection: Exceed $35 Billion USD
Analyst perspective and outlook — what investors should watch
Angel investor and AI specialist Guo Tao (Guo Tao 郭涛) emphasized that AI compute demand remains the core investment theme for H1 2025.
The AI wave has lifted both optical‑communications earnings and market sentiment.
As AI evolves, the sector’s linkage to AI hardware and data‑center infrastructure should continue supporting demand.
Research houses and industry trackers strengthen the view:
The Ministry of Industry and Information Technology (MIIT) reported stable growth in China’s communications sector for January–June 2025, with telecom business revenue reaching ¥905.5 billion RMB (national telecom figures).
LightCounting forecasts the global Ethernet optical‑module market will expand rapidly, projecting a 35% year‑over‑year increase to $18.9 billion USD in 2026 and continued double‑digit growth through 2030, when the market could exceed $35 billion USD.
Bottom line — investor takeaways
The H1 2025 results from STAR Market optical‑communications companies reflect a structural demand pickup tied closely to AI‑driven expansion of data‑center compute and networking.
The combination of accelerating product demand, improving profitability and greater shareholder returns has created a strong correlation between earnings beats and share‑price performance in the sector.
AI wave boosts optical communications
