Jones Tech vs Murata Manufacturing Co.: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Jones Tech PLC Class A (300684.CS)

Q3 202613 Aug – 30 Sep 2026

▲4

Zhongji Innolight's 10.47% stake and liquid-cooling/CPO demand drive Jones Tech

Zhongji Innolight buys 10.47% stake for 1.747 billion yuan Optical module giant Zhongji Innolight agreed to buy 10.47% of Jones Tech from its controlling shareholders at 55.70 yuan per share, a 1.747 billion yuan deal. The strategic investor brings confidence and potential heat-dissipation synergies as high-end optical modules ramp up. Control stays unchanged.
This is the single biggest new force behind the stock, bringing a deep-pocketed strategic partner and validating Jones Tech's thermal materials business.
China's first data center liquid cooling national standard released China approved its first national standard for cold-plate liquid cooling in data centers, effective February 2027. Tightening energy rules and AI server power density are forcing liquid cooling adoption. Jones Tech, which makes thermal materials, jumped 20% on the news as a direct beneficiary.
A new regulation creates a durable, policy-backed demand wave for Jones Tech's core thermal products.
Nvidia CPO switches enter mass production, lifting optical supply chain Nvidia said its Spectrum-X silicon photonics switches are in full mass production, cutting power use and laser counts. Jones Tech hit a second straight 20% limit as a CPO concept stock. Faster CPO adoption means more optical modules and more heat to manage, supporting demand for its materials.
It ties Jones Tech to a fast-growing technology cycle that expands the market for its thermal and shielding products.
Stake transfer registration completed, making Zhongji Innolight a major shareholder The 1.747 billion yuan transfer was registered on September 29, so Zhongji Innolight now officially holds over 5% of Jones Tech. The deal is done, not just planned. Jones Tech's first-half 2026 revenue rose 10.66% and profit rose 13.59%, and the stock is up over 122% this year.
Completion removes deal uncertainty and confirms the strategic partnership is real, a fresh milestone beyond the August announcement.

September 202613 Aug – 30 Sep 2026

▲4

Zhongji Innolight's 10.47% stake and liquid-cooling/CPO demand drive Jones Tech

Zhongji Innolight buys 10.47% stake for 1.747 billion yuan Optical module giant Zhongji Innolight agreed to buy 10.47% of Jones Tech from its controlling shareholders at 55.70 yuan per share, a 1.747 billion yuan deal. The strategic investor brings confidence and potential heat-dissipation synergies as high-end optical modules ramp up. Control stays unchanged.
This is the single biggest new force behind the stock, bringing a deep-pocketed strategic partner and validating Jones Tech's thermal materials business.
China's first data center liquid cooling national standard released China approved its first national standard for cold-plate liquid cooling in data centers, effective February 2027. Tightening energy rules and AI server power density are forcing liquid cooling adoption. Jones Tech, which makes thermal materials, jumped 20% on the news as a direct beneficiary.
A new regulation creates a durable, policy-backed demand wave for Jones Tech's core thermal products.
Nvidia CPO switches enter mass production, lifting optical supply chain Nvidia said its Spectrum-X silicon photonics switches are in full mass production, cutting power use and laser counts. Jones Tech hit a second straight 20% limit as a CPO concept stock. Faster CPO adoption means more optical modules and more heat to manage, supporting demand for its materials.
It ties Jones Tech to a fast-growing technology cycle that expands the market for its thermal and shielding products.
Stake transfer registration completed, making Zhongji Innolight a major shareholder The 1.747 billion yuan transfer was registered on September 29, so Zhongji Innolight now officially holds over 5% of Jones Tech. The deal is done, not just planned. Jones Tech's first-half 2026 revenue rose 10.66% and profit rose 13.59%, and the stock is up over 122% this year.
Completion removes deal uncertainty and confirms the strategic partnership is real, a fresh milestone beyond the August announcement.

Latest13 Aug – 30 Sep 2026

▲4

Zhongji Innolight's 10.47% stake and liquid-cooling/CPO demand drive Jones Tech

Zhongji Innolight buys 10.47% stake for 1.747 billion yuan Optical module giant Zhongji Innolight agreed to buy 10.47% of Jones Tech from its controlling shareholders at 55.70 yuan per share, a 1.747 billion yuan deal. The strategic investor brings confidence and potential heat-dissipation synergies as high-end optical modules ramp up. Control stays unchanged.
This is the single biggest new force behind the stock, bringing a deep-pocketed strategic partner and validating Jones Tech's thermal materials business.
China's first data center liquid cooling national standard released China approved its first national standard for cold-plate liquid cooling in data centers, effective February 2027. Tightening energy rules and AI server power density are forcing liquid cooling adoption. Jones Tech, which makes thermal materials, jumped 20% on the news as a direct beneficiary.
A new regulation creates a durable, policy-backed demand wave for Jones Tech's core thermal products.
Nvidia CPO switches enter mass production, lifting optical supply chain Nvidia said its Spectrum-X silicon photonics switches are in full mass production, cutting power use and laser counts. Jones Tech hit a second straight 20% limit as a CPO concept stock. Faster CPO adoption means more optical modules and more heat to manage, supporting demand for its materials.
It ties Jones Tech to a fast-growing technology cycle that expands the market for its thermal and shielding products.
Stake transfer registration completed, making Zhongji Innolight a major shareholder The 1.747 billion yuan transfer was registered on September 29, so Zhongji Innolight now officially holds over 5% of Jones Tech. The deal is done, not just planned. Jones Tech's first-half 2026 revenue rose 10.66% and profit rose 13.59%, and the stock is up over 122% this year.
Completion removes deal uncertainty and confirms the strategic partnership is real, a fresh milestone beyond the August announcement.

Murata Manufacturing Co., Ltd. (6981.JP)

Q3 20267 Jul – 21 Aug 2026

▲3▼1

AI server demand and price hikes drive Murata's profit upgrade

AI server demand lifts orders and profit forecast Murata raised its full-year net profit forecast to 338 billion yen, up 44.5%, on strong AI data center demand. Its MLCC orders jumped 85.5% year-on-year, and revenue rose 20.7%. This directly boosts profit expectations and supports a higher stock price.
This is the core new event showing how AI demand translates into higher earnings for Murata.
MLCC price increases boost margins Murata led price hikes of 15-35% for AI server and high-end automotive MLCCs. Competitors followed with 30% increases. Higher prices mean more profit per unit sold, directly lifting Murata's earnings and stock price.
Pricing power is a key driver of profitability and shows the upcycle is real.
Capacity expansion to capture growing demand Murata plans to invest 250 billion yen to expand server MLCC production capacity, adding 80 billion yen specifically for this. This positions the company to meet surging AI demand and grow future revenue, supporting the stock.
Capacity investment signals confidence in sustained demand and future growth.
Tech selloff and geopolitical tensions hit chip stocks A global tech selloff and U.S.-Iran tensions caused the Nikkei to drop 4%, with Murata among major decliners. Such market-wide fears can temporarily push Murata's stock down, even if its business fundamentals remain strong.
This is a real counterweight showing external risks that can pressure the stock.

July 20267 Jul – 21 Aug 2026

▲3▼1

AI server demand and price hikes drive Murata's profit upgrade

AI server demand lifts orders and profit forecast Murata raised its full-year net profit forecast to 338 billion yen, up 44.5%, on strong AI data center demand. Its MLCC orders jumped 85.5% year-on-year, and revenue rose 20.7%. This directly boosts profit expectations and supports a higher stock price.
This is the core new event showing how AI demand translates into higher earnings for Murata.
MLCC price increases boost margins Murata led price hikes of 15-35% for AI server and high-end automotive MLCCs. Competitors followed with 30% increases. Higher prices mean more profit per unit sold, directly lifting Murata's earnings and stock price.
Pricing power is a key driver of profitability and shows the upcycle is real.
Capacity expansion to capture growing demand Murata plans to invest 250 billion yen to expand server MLCC production capacity, adding 80 billion yen specifically for this. This positions the company to meet surging AI demand and grow future revenue, supporting the stock.
Capacity investment signals confidence in sustained demand and future growth.
Tech selloff and geopolitical tensions hit chip stocks A global tech selloff and U.S.-Iran tensions caused the Nikkei to drop 4%, with Murata among major decliners. Such market-wide fears can temporarily push Murata's stock down, even if its business fundamentals remain strong.
This is a real counterweight showing external risks that can pressure the stock.

Latest7 Jul – 21 Aug 2026

▲3▼1

AI server demand and price hikes drive Murata's profit upgrade

AI server demand lifts orders and profit forecast Murata raised its full-year net profit forecast to 338 billion yen, up 44.5%, on strong AI data center demand. Its MLCC orders jumped 85.5% year-on-year, and revenue rose 20.7%. This directly boosts profit expectations and supports a higher stock price.
This is the core new event showing how AI demand translates into higher earnings for Murata.
MLCC price increases boost margins Murata led price hikes of 15-35% for AI server and high-end automotive MLCCs. Competitors followed with 30% increases. Higher prices mean more profit per unit sold, directly lifting Murata's earnings and stock price.
Pricing power is a key driver of profitability and shows the upcycle is real.
Capacity expansion to capture growing demand Murata plans to invest 250 billion yen to expand server MLCC production capacity, adding 80 billion yen specifically for this. This positions the company to meet surging AI demand and grow future revenue, supporting the stock.
Capacity investment signals confidence in sustained demand and future growth.
Tech selloff and geopolitical tensions hit chip stocks A global tech selloff and U.S.-Iran tensions caused the Nikkei to drop 4%, with Murata among major decliners. Such market-wide fears can temporarily push Murata's stock down, even if its business fundamentals remain strong.
This is a real counterweight showing external risks that can pressure the stock.