Yangtze Optical Fibre and Cable
ConvictionContext
Vertically integrated manufacturer (preform -> fiber -> cable) selling via carrier tenders (China Mobile/Telecom/Unicom), international carriers and datacenter operators; growing mix of specialty fiber, hollow-core fiber and optical interconnect products (optical modules and components contributed roughly 20% of FY2025 revenue per results coverage); overseas 42.7% of FY2025 revenue
Revenue
CNY 14.25B~$2.0B) FY2025 (ended Dec 2025Rev growth
+16.9% FY2025+27.7% YoY in Q1 2026Gross margin
30.7% FY2025up from 27.3% FY2024Op margin
Net margin ~5.7% FY2025EBIT margin 11.4% FY2025 per UBS (UBS models 24.3% in 2026E and 32.9% in 2027ECapex intensity
not disclosed preciselyrising - company is expanding hollow-core fiber capacity after announcing 10,000+ cumulative core-km delivered (MWC Shanghai, 2026-06-24Market cap
~CNY 309B~$43B) blended A+H as of early Jul 2026 (A-shares at the A price plus H-shares at the H price); the 6869.HK quote pages show ~HKD 271B (~$35B) per stockanalysis.com/moomoo; A-shares trade at a ~225% premium to H (2026-07-10 basis; the premium touched ~270% in late Jun 2026The 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
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