Clarification on CATL’s Optical Module Business: The Actual Beneficiaries Are Other Companies

Based on my research and analysis, it is necessary to first clarify an important information misunderstanding:

[1][2].

Contemporary Amperex Technology Co., Limited (stock code: 300750.SZ) is a

, and its main businesses include [1][2]:

• Power battery systems
  : New energy vehicle power batteries
• Energy storage systems
  : Grid energy storage, distributed energy storage solutions
• Lithium battery materials
  : R&D and production of battery materials
• Recycling business
  : Recycling and reuse of power batteries

CATL’s 2024 revenue reached RMB 362 billion, ranking first in the global power battery industry for many consecutive years[1].

Regarding the growth of 1.6T optical module orders,

, mainly including:

• Leading enterprise in the optical module industry
• Mass production of 1.6T silicon photonics modules
• Secured large-scale orders from North American cloud vendors
• Benefited from the explosion in AI computing power demand[3][4]

• Large-scale commercialization of 800G LPO
• Smooth progress in sample delivery of 1.6T products
• Gradual release of production capacity in Thailand[3][4]

• Optical component supplier
• Provides supporting products for 1.6T optical modules[5]

According to industry forecasts[3][4]:

• Market size
  : The total value of the optical module market is expected to reach USD 12.73 billion and USD 19.37 billion in 2025 and 2026, respectively, with year-on-year growth of 60% and 52%
• Product structure changes
  :
  • 800G optical modules: Global demand is expected to be 19.9 million units in 2025 and increase to 33.5 million units in 2026
  • 1.6T optical modules: Shipments will be approximately 1.8 million units in 2025 and surge to over 8 million units in 2026
• Growth drivers
  : The matching ratio between AI chips and optical modules continues to rise, from 1:3 for H100 to 1:4.5 for B300

The claim of

contains factual errors. CATL is a battery manufacturing enterprise and has no connection to the optical module business. The high growth of the optical module industry is mainly led by professional optical communication equipment vendors such as Zhongji Innolight and Eoptolink, which are the real beneficiaries of the explosion in optical module demand amid the wave of AI computing power construction[3][4].

It is recommended that when analyzing investment opportunities, distinguish between the

where CATL is located and the where optical modules are located, as these are two different industry sectors.

— References:
[1] Baidu Encyclopedia - CATL (https://baike.baidu.com/item/宁德时代新能源科技股份有限公司)
[2] CATL Official Website (https://www.catl.com)
[3] Sina Finance - Analysis of Large-Scale Purchases by Financing Investors (https://finance.sina.com.cn/stock/roll/2025-12-28/doc-inheixvi8886563.shtml)
[4] Caifuhao - Optical Module Industry Prospect Analysis (https://caifuhao.eastmoney.com/news/20251226125914708098730)
[5] Jiuyangongshe - Zhongci Electronics’ 1.6T Optical Module Ceramic Products (https://www.jiuyangongshe.com/search/a0c73415822742f2bd5d6df9469d6210)