Innolight Technology
ConvictionContext
Design, packaging, test and sale of high-speed optical transceiver modules (400G/800G/1.6T) plus emerging silicon-photonics/CPO; volume hardware supplier to hyperscaler and networking-OEM datacenter build-outs, largely make-to-order against customer capex cycles.
Revenue
FY2025 CN¥38.24B~$5.35B at 7.15); TTM through Q1 2026 ~CN¥51B after a surging Q1Rev growth
+60.25% YoY FY2025+192.12% YoY in Q1 2026Gross margin
~42.6% FY2025optical-module GM 42.61%, up ~8pp YoYOp margin
not separately disclosedEBITDA margin ~38%, net margin ~28% FY2025Capex intensity
moderate for the sector - assembly/packaging ledexpanding Thailand + domestic capacity, exact capex not broken out hereMarket cap
~$172B USDapprox CN¥1.23T on Shenzhen ChiNext, ticker 300308.SZ, as of 2026-07-06The read
Where our coverage leans
Coverage leans bullish
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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 (FY2025 annual report + Q1 2026 results; price/market cap as of 2026-07-06)· sign in (free) for the analyst summary; Pro unlocks full intelligence