← Henan Shijia Photons Technology overview

Henan Shijia Photons Technology vs Applied Opt: why the prices moved differently

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

Henan Shijia Photons Technology Co Ltd (688313.CG)

Q3 202615 Jul – 4 Aug 2026

▲4

Shijia Photon's 2.8B yuan raise and 45% profit jump ride AI optical demand

2.8 billion yuan private placement for optical chip capacity Shijia Photon plans to raise up to 2.8 billion yuan by selling new shares, funding high-speed AWG chips, laser chips and optical interconnect parts, plus working capital. This gives the company money to expand output for AI data centers, supporting future sales and earnings growth.
It is the period's biggest company-specific capital action and directly funds growth capacity.
First-half profit up 45.3%, revenue up 50.66% First-half 2026 revenue reached 1.495 billion yuan, up 50.66%, with net profit of 315 million yuan, up 45.3%. Management said AI computing demand drove rapid data communications market growth and more orders than a year earlier, confirming the business is expanding fast.
It is the clearest evidence that AI demand is already converting into actual sales and profit.
AI computing demand outruns supply, lifting optical names Domestic AI computing demand jumped 417% year-on-year in early 2026 while supply grew only 128%, leaving high-end chips scarce and expensive. As an optical component supplier in that chain, Shijia Photon benefits from this shortage and the resulting rush to build AI infrastructure.
It explains the broad industry force pushing demand toward Shijia Photon's products.
Semiconductor supply chain rally lifts STAR-listed shares A broad semiconductor rally, helped by HBM memory demand forecasts and new AI model releases, pushed Shijia Photon up 10-12% in a single session. This reflects strong investor appetite for AI-linked chip stocks, though such sharp daily swings can reverse quickly.
It shows the market sentiment currently amplifying the stock, while noting the risk of fast reversals.

July 202615 Jul – 4 Aug 2026

▲4

Shijia Photon's 2.8B yuan raise and 45% profit jump ride AI optical demand

2.8 billion yuan private placement for optical chip capacity Shijia Photon plans to raise up to 2.8 billion yuan by selling new shares, funding high-speed AWG chips, laser chips and optical interconnect parts, plus working capital. This gives the company money to expand output for AI data centers, supporting future sales and earnings growth.
It is the period's biggest company-specific capital action and directly funds growth capacity.
First-half profit up 45.3%, revenue up 50.66% First-half 2026 revenue reached 1.495 billion yuan, up 50.66%, with net profit of 315 million yuan, up 45.3%. Management said AI computing demand drove rapid data communications market growth and more orders than a year earlier, confirming the business is expanding fast.
It is the clearest evidence that AI demand is already converting into actual sales and profit.
AI computing demand outruns supply, lifting optical names Domestic AI computing demand jumped 417% year-on-year in early 2026 while supply grew only 128%, leaving high-end chips scarce and expensive. As an optical component supplier in that chain, Shijia Photon benefits from this shortage and the resulting rush to build AI infrastructure.
It explains the broad industry force pushing demand toward Shijia Photon's products.
Semiconductor supply chain rally lifts STAR-listed shares A broad semiconductor rally, helped by HBM memory demand forecasts and new AI model releases, pushed Shijia Photon up 10-12% in a single session. This reflects strong investor appetite for AI-linked chip stocks, though such sharp daily swings can reverse quickly.
It shows the market sentiment currently amplifying the stock, while noting the risk of fast reversals.

Latest15 Jul – 4 Aug 2026

▲4

Shijia Photon's 2.8B yuan raise and 45% profit jump ride AI optical demand

2.8 billion yuan private placement for optical chip capacity Shijia Photon plans to raise up to 2.8 billion yuan by selling new shares, funding high-speed AWG chips, laser chips and optical interconnect parts, plus working capital. This gives the company money to expand output for AI data centers, supporting future sales and earnings growth.
It is the period's biggest company-specific capital action and directly funds growth capacity.
First-half profit up 45.3%, revenue up 50.66% First-half 2026 revenue reached 1.495 billion yuan, up 50.66%, with net profit of 315 million yuan, up 45.3%. Management said AI computing demand drove rapid data communications market growth and more orders than a year earlier, confirming the business is expanding fast.
It is the clearest evidence that AI demand is already converting into actual sales and profit.
AI computing demand outruns supply, lifting optical names Domestic AI computing demand jumped 417% year-on-year in early 2026 while supply grew only 128%, leaving high-end chips scarce and expensive. As an optical component supplier in that chain, Shijia Photon benefits from this shortage and the resulting rush to build AI infrastructure.
It explains the broad industry force pushing demand toward Shijia Photon's products.
Semiconductor supply chain rally lifts STAR-listed shares A broad semiconductor rally, helped by HBM memory demand forecasts and new AI model releases, pushed Shijia Photon up 10-12% in a single session. This reflects strong investor appetite for AI-linked chip stocks, though such sharp daily swings can reverse quickly.
It shows the market sentiment currently amplifying the stock, while noting the risk of fast reversals.

Applied Opt (AAOI)

Q3 202624 Jun – 31 Aug 2026

▲3

AAOI Surges on AI Optics Boom, FCC Ban Potential, but Dilution Hits

Record Q2 results and strong guidance Applied Opt reported Q2 revenue nearly doubling to $191.9 million and a $5.5 million profit, with full-year 2026 guidance above $1 billion, driven by its first major 800G shipment for AI data centers.
This is the core financial performance that directly boosted investor confidence and the stock price.
Potential FCC ban on Chinese transceivers A possible FCC ban on Chinese-made optical transceivers could open a much larger U.S. market for Applied Opt, though analysts warn it might disrupt AI supply chains and raise cloud costs, potentially hurting overall demand.
This regulatory catalyst could significantly expand AAOI's addressable market and is a major new development.
New hyperscale orders and Mediacom win Applied Opt secured new orders from hyperscale cloud customers and a cable win with Mediacom, broadening its customer base and demand sources beyond its traditional markets.
These orders demonstrate growing demand and diversification, supporting future revenue growth.
Capacity expansion and dilution Applied Opt is expanding monthly capacity from 200,000 to 650,000 units via a $150 million Texas buildout, but a $600 million at-the-market share sale diluted existing holders and dropped shares 12%.
The expansion supports future growth, but the dilution immediately pressured the stock price, creating a mixed impact.

July 202624 Jun – 31 Aug 2026

▲3

AAOI Surges on AI Optics Boom, FCC Ban Potential, but Dilution Hits

Record Q2 results and strong guidance Applied Opt reported Q2 revenue nearly doubling to $191.9 million and a $5.5 million profit, with full-year 2026 guidance above $1 billion, driven by its first major 800G shipment for AI data centers.
This is the core financial performance that directly boosted investor confidence and the stock price.
Potential FCC ban on Chinese transceivers A possible FCC ban on Chinese-made optical transceivers could open a much larger U.S. market for Applied Opt, though analysts warn it might disrupt AI supply chains and raise cloud costs, potentially hurting overall demand.
This regulatory catalyst could significantly expand AAOI's addressable market and is a major new development.
New hyperscale orders and Mediacom win Applied Opt secured new orders from hyperscale cloud customers and a cable win with Mediacom, broadening its customer base and demand sources beyond its traditional markets.
These orders demonstrate growing demand and diversification, supporting future revenue growth.
Capacity expansion and dilution Applied Opt is expanding monthly capacity from 200,000 to 650,000 units via a $150 million Texas buildout, but a $600 million at-the-market share sale diluted existing holders and dropped shares 12%.
The expansion supports future growth, but the dilution immediately pressured the stock price, creating a mixed impact.

Latest24 Jun – 31 Aug 2026

▲3▼1

AAOI's AI optics demand keeps growing, but a $600M share sale dilutes holders

New hyperscale orders and a cable win broaden demand AAOI won major new orders from large cloud (hyperscale) customers for AI data-center fiber products, and became primary vendor for Mediacom's cable upgrade covering about 1 million homes. More orders from more kinds of customers support future revenue and the stock.
New customer wins are a core reason the business and stock can keep rising.
Capacity is the limit, and AAOI is spending to break it Management says the bottleneck is factory capacity, not technology. Transceiver output is targeted to rise from over 200,000 units a month to 650,000 by year-end, with a $150 million Texas expansion. More capacity means more orders it can actually fill.
Shows the concrete plan to convert strong demand into revenue.
$600 million share sale dilutes existing owners AAOI announced a $600 million at-the-market stock offering and shares fell 12%. Selling new shares raises cash for expansion but shrinks each existing holder's slice of the company. It is a financing move, not a sign the AI business weakened.
This is the main new force pushing the stock down this period.
AI spending boom keeps lifting the whole optics group Anthropic's quarterly revenue surge and heavy AI infrastructure spending lifted networking stocks, including AAOI. Industry reports show 400G/800G/1.6T transceiver investment accelerating, with Nvidia backing Lumentum and Marvell buying Celestial AI. Strong sector demand pulls AAOI along.
The wider AI demand wave is the backdrop that keeps AAOI's orders coming.

14 Jul – 7 Aug 2026

▲3

AAOI's AI optics boom meets a possible China ban

First big 800G shipment and $1B revenue target AAOI made its first large shipment of 800G transceivers to a major cloud customer and guided 2026 revenue above $1 billion, more than double 2025. That shows real demand for its AI data-center products, which is the main reason the stock is up.
This is the core demand event that re-rated the stock this period.
Second-quarter revenue nearly doubled and turned a profit AAOI reported Q2 revenue of $191.9 million, up from about $100 million a year ago, and swung to a $5.5 million profit from a loss. The company is now making money as AI orders scale, which supports the stock.
The actual earnings result confirms the demand story with numbers.
Possible U.S. ban on Chinese optical transceivers The FCC is drafting a rule to ban imports of new Chinese optical transceivers, which would push AI data-center buyers toward U.S. suppliers like AAOI. That could hand AAOI a much larger market, though the rule is not final.
A potential regulatory shift that could reshape AAOI's competitive position.
Ban could also squeeze the AI supply chain Research firm Counterpoint warns a ban would disrupt AI infrastructure and raise costs for cloud giants like Amazon and Microsoft, since Chinese firms make most transceivers. If it slows their AI spending, demand for AAOI's products could suffer too.
This is the real counterweight to the ban's benefit for AAOI.