300502.SZ · A-shares
300502.SZ Eoptolink: high-beta optical modules
Eoptolink Same AI optics theme as Innolight, often higher beta—watch hyperscaler share, 800G/1.6T cadence, and GM swings.
Cite a section with a deep link, e.g. /en/r/eoptolink-300502-research#thesis
Snapshot
- Price
- CNY 350
- Mkt cap
- CNY 600.0B
- Revenue
- CNY 12.0B
- High-speed mix momentum
- 1.6
Thesis
Eoptolink Same AI optics theme as Innolight, often higher beta—watch hyperscaler share, 800G/1.6T cadence, and GM swings.
Business
Model: optical module R&D/manufacturing. Flagships: high-speed datacom optics. Edge: speed-to-market and cost. Strategy: follow cluster speed upgrades.
Value chain
Optical midstream; similar supply/customer risks to Innolight—concentration, price war, optical chips.
Valuation
High-beta growth; more volatile than category leaders.
Financial trend (~24 months)
Illustrative 8Q with YoY/QoQ (reconstructed from public disclosures; not audit-line):
Revenue · last 8Q
Interactive chart available in the reader.
Gross margin · last 8Q
Interactive chart available in the reader.
Operations
Same volume/price/cost frame as optical peers.
Key financials
| Item | Value | YoY | Note |
|---|---|---|---|
| 赛道 | 数通光模块 | AI 驱动 | 与旭创同逻辑 |
| 增长 | 高速产品放量 | 高增 | 代际 |
| 估值 | 进入 A 股前列科技市值 | 波动大 | 2026 叙事 |
| 竞争 | 与旭创等抢份额 | 激烈 | 价格/产能 |
Competition
Peer strengths/weaknesses:
Peer map
| Company | Share/role | Margin | Strength | Weakness |
|---|---|---|---|---|
| 新易盛 | 高速模块 | 高 | 弹性 | 客户集中 |
| 中际旭创 | 龙头 | 高 | 份额 | 估值也贵 |
| 天孚 | 器件 | 高 | 配套 | 产品不同 |
| 海外光通信 | 多元 | 中 | 品牌 | 中国厂商替代 |
Management
Management (24m)
| Role | Name | Since | 24m change |
|---|---|---|---|
| 董事长/总经理 | 核心团队 | 光通信背景 | 连续 |
| CFO | 财务负责人 | 在任 | 稳定 |
| 销售/大客户 | 关键岗位 | 北美云 | 订单关键 |
Stability: Management focused on optics; strategy tied to industry beta.
Outlook
Same watches as Innolight: speed ramps, GM, cloud CapEx.
Scenarios
| Scenario | Condition | Implication |
|---|---|---|
| Bull | Demand/execution beats | Upside |
| Base | Trend continues | Hold/watch |
| Bear | Cycle/competition worsens | Drawdown/reassess |
Risks
References
Issuer / key sources:
- https://www.eoptolink.com/
- https://www.ofweek.com/ai/2026-06/ART-201714-12001-30691480.html {#references}
- Latest company filings / IR (see issuer website)
- Exchange filings / SEC EDGAR — https://www.sec.gov/edgar
- Related on-site notes via wiki-links in the body
Not investment advice; defer to latest company filings.