Eoptolink Technology
ConvictionContext
Merchant (non-captive) hardware manufacturer: designs and mass-produces pluggable optical modules (400G/800G/1.6T) sold to hyperscalers, GPU/switch OEMs (notably Nvidia) and telecom operators; ~96% of revenue is overseas/export; margin driven by high-speed product mix and vertical/automation efficiency.
Revenue
CNY 24.84B FY2025~$3.46B), +187.3% YoY; TTM (to Q1 2026) ~CNY 29.1B (~$4.06BRev growth
+187.3% YoY FY2025+105.8% YoY Q1 2026Gross margin
47.8% FY2025up sharply on 800G mix); ~49.2% Q1 2026Op margin
not separately disclosednet margin ~38% FY2025, ~33% Q1 2026Capex intensity
elevated — capacity expansionin China + Thailand (total module capacity +43.4% to 15.2M units end-2024, further Thai Phase II ramp 2025-2026); exact capex/revenue ratio not disclosedMarket cap
~$110B USDSZSE:300502, ChiNext; roughly CNY 790-850B, ~1.39B shares, early July 2026). Sources dispersed $103B-$118B across late-June/early-July given high daily volatility; prior draft's ~$98B was a June-7 figure.The read
Where our coverage leans
Bull & bear in tension
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence