Hengtong Optic-Electric (600487) Strong Performance Analysis: Catalysts and Sustainability Assessment

Hengtong Optic-Electric (600487)'s recent strong performance is driven by the resonance of multiple factors:

1. Capital Aspect
   : On December 22, 2025, the main funds had a net purchase of 711 million yuan, accounting for 14.9% of the total trading volume. The stock price rose by 10.02% that day, with a trading volume of 184.67M (far higher than the recent average) [1].
2. Fundamental Aspect
   : Qunyi Securities pointed out that the optical fiber industry is experiencing a price surge, and the demand for AI optical fibers may double in the next two years [2]; the company has made breakthroughs in hollow-core optical fiber cabling technology, opened the first domestic commercial hollow-core optical cable line with China Unicom, and accelerated the construction of an AI advanced optical fiber R&D and manufacturing center [2]. Kaiyuan Securities also mentioned that the continuous construction of AI data centers drives the demand and price increase of optical fiber cables, with short-term supply shortages [3].
3. Technical Aspect
   : From December 5 to December 24, 2025, the stock price rose from $19.82 to $26.93, with a 35.87% increase in 14 trading days [0]; the average daily trading volume during this period was 112.52M, which was significantly higher than the historical level.

• AI Industry Linkage
  : The demand for high-speed optical fibers from AI data center construction has become the core engine of industry growth. Hengtong Optic-Electric’s technical breakthroughs and capacity layout enable it to directly benefit from this trend.
• Institution and Capital Resonance
  : 14 institutions gave buy ratings within 90 days [2]. Continuous inflows of main funds drove the short-term rapid rise of the stock price, forming a positive feedback between market sentiment and capital enthusiasm.
• Balance Between Technology and Valuation
  : The current stock price is close to the recent range high ($19.70-$27.08) [0], exceeding the 90-day institutional target average price of 25.53 yuan, reflecting high market sentiment.

: The implementation speed and demand of AI optical fiber business may fall short of expectations [2]; intensified industry competition may affect profitability [2]; risks of raw material and optical fiber price fluctuations [2]; excessive short-term gain (35.87% in 14 days) leading to technical correction pressure.
: The industry expectation that AI optical fiber demand may double in the next two years [2]; long-term competitiveness improvement brought by the company’s hollow-core optical fiber technology breakthrough and AI R&D center construction [2].

This analysis objectively presents Hengtong Optic-Electric (600487)‘s recent stock price trend, driving factors, and risk points. The strong stock price performance is mainly due to main fund inflows, analysts’ rating upgrades, and the improvement of AI optical fiber industry prosperity. The company’s technical breakthroughs and capacity layout provide support for long-term performance. Investors need to pay attention to factors such as business implementation, industry competition, and short-term valuation fluctuations.