SZSE · AI optical transceivers · 800G/1.6T
Eoptolink
A Chengdu-based optical-transceiver maker (Xinyisheng). With 40%+ of 800G it shares ~60% of NVIDIA incremental 800G orders with InnoLight, and shipped 1.6T samples to NVIDIA. 2024 revenue ~$1.2B (+179%). With InnoLight, one of the two big suppliers of AI-datacenter optical links.
Business categories Optical Communication Components · AI Compute Infrastructure · primary
300502.SZ Updated Jul 12, 2026 5 AI consumers· 4 recurring
Per the valuechain.wiki graph, Eoptolink is directly linked to 5 companies (3 supply, 2 revenue relationships) and reaches 46 companies within two hops; the links are backed by 10 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · 2024 revenue ~$1.2B (+179%)
- Customer concentration · 40%+ of 800G; large NVIDIA exposure.
- Segments · 800G/1.6T transceivers · Optical modules
Revenue from
- NVIDIA High confidence· Supply share 60% · 2025
Supplies 800G/1.6T transceivers to NVIDIA (60% of incremental 800G with InnoLight).Confirms KO TheElec Published Mar 13, 2026: NVIDIA CPO push; InnoLight and Eoptolink lead transceiversConfirms EN IP-Fiber (Baudcom) Published Nov 11, 2025: Nvidia Orders Surge: InnoLight and Eoptolink Dominate 60% of 800G Supply - hyperscaler & datacom (transceivers) Medium confidence· Revenue ~$1.2B · 2024 · 2024 revenue (+179%)
Supplies 800G/1.6T modules to hyperscalers.Confirms KO Global Economic Published Mar 25, 2026: Optical stocks surge on NVIDIA $6T-won transceiver investment - Meta Platforms Medium confidence· procurement share 20% · 2025H1
Deep binding with North American hyperscalers: Chinese media estimate Meta at ~20% of procurement; overseas sales were 94.4% of H1 2025 revenue (CNY 9.86bn).Mentions ZH Securities Times (STCN) Published Aug 25, 2025: Eoptolink H1 results surge ~355%, exports >90%
Pays to
- Lumentum High confidence
Sources EML lasers from lumentum. - Coherent Medium confidence
Sources EML lasers from coherent. - Broadcom Medium confidence
DSP procurement for 800G/1.6T modules: a Broadcom-Marvell duopoly where Broadcom is the de facto standard in NVIDIA's chain; IR confirms latest 3nm DSPs in 1.6T products.Confirms ZH CNINFO (SZSE disclosure) Published Sep 13, 2025: Eoptolink IR Activity Record (No. 2025-006) - optical components, materials & assembly (undisclosed) Low confidence
Optical parts, materials, assembly.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Dell Technologies | lead2 | +51.2 | -26.6 | +95.9 | +53 | +11.2 | +320.2 |
| Lenovo | lead2 | -4.6 | -20.9 | +36.2 | +18.2 | -0.6 | +274.8 |
| ASUSTeK Computer | lead2 | +35.5 | -12.9 | +72 | +41.1 | -14.1 | +119.8 |
| Hewlett Packard Enterprise | lead2 | +37.4 | +4.5 | +9.7 | +29.1 | +15.5 | +118.5 |
| Wiwynn | lead2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +92.3 |
| Cloudflare | lead2 | +73 | -65.6 | +84.2 | +29.3 | +83.1 | +83.1 |
| Gigabyte Technology | lead2 | +82.3 | -3.4 | +173.2 | -15.9 | -4.7 | +61.6 |
| Aurora Innovation | lead2 | · | -89.3 | +261.2 | +44.2 | -39 | +51.8 |
| Wistron | lead2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +49.7 |
| TeraWulf | lead2 | +77.1 | -95.5 | +258.2 | +135.8 | +103 | +43.7 |
| Super Micro | lead2 | +38.8 | +86.8 | +246.2 | +7.2 | -4 | +43 |
| Celestica | lead2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +22.5 |
| Quanta Computer | lead2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +21.2 |
| Tempus AI | lead2 | · | · | · | · | +74.9 | +20.1 |
| IREN | lead2 | · | -92.3 | +472 | +37.3 | +284.6 | +18.3 |
| SK Telecom | lead2 | +7.9 | -12 | +15.8 | +15.5 | +37.5 | +18 |
| Foxconn (Hon Hai) | lead2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +16.3 |
| Mercury Systems | lead2 | -37.5 | -18.7 | -18.3 | +14.8 | +73.8 | +12.9 |
| Amazon | lead2 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Alphabet (Google) | lead2 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
| Microsoft | lead2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| General Motors | lead2 | +40.8 | -42.4 | +7.9 | +49.8 | +54.2 | +2.4 |
| Yum! Brands | lead2 | +30.1 | -6 | +3.9 | +4.7 | +14.9 | +0.6 |
| Geely Auto | lead2 | -40.8 | -22.9 | -40.3 | +98.5 | +14.5 | -3.5 |
| Meta Platforms | lead2 | +23.1 | -64.2 | +194.1 | +66 | +13.1 | -6.4 |
| IonQ | lead2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Toyota Motor Corporation | lead2 | +58.1 | -13.4 | +63 | +1.8 | +21.8 | -14.3 |
| Tesla | lead2 | +49.8 | -65 | +101.7 | +62.5 | +11.4 | -14.9 |
| IBM | lead2 | +16.7 | +10.6 | +21.8 | +39.3 | +38.2 | -21.8 |
| Alibaba Group | lead2 | -49 | -25.8 | -10.8 | +11.8 | +75.8 | -22 |
| Oracle | lead2 | +36.9 | -4.6 | +30.9 | +60 | +18.1 | -26.5 |
| Tencent Holdings Limited | lead2 | -28.6 | -14.2 | -28.7 | +49.8 | +52.1 | -29.1 |
| Rigetti Computing | lead2 | · | -92.9 | +35.1 | +1449.2 | +45.2 | -31.4 |
| Hyundai Motor Company | lead2 | -16.7 | -4.7 | +16.2 | +12.3 | +158.8 | -34.2 |
| Kratos Defense | lead2 | -29.3 | -46.8 | +96.6 | +30 | +187.8 | -37 |
| Baidu | lead2 | · | -8.2 | -23.4 | -13.5 | +74.2 | -45.7 |
| Pony.ai | lead2 | · | · | · | · | +1 | -49.3 |
| NVIDIA | lead1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
| Eoptolink | node | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +29.1 |
| Coherent | benef1 | -10 | -48.6 | +24 | +117.6 | +94.8 | +69.4 |
| Broadcom | benef1 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +5 |
| United Microelectronics (UMC) | benef2 | +43.2 | -40.3 | +39.2 | -19 | +28.8 | +197.3 |
| MACOM Technology | benef2 | +42.3 | -19.6 | +47.6 | +39.8 | +31.8 | +92.7 |
| Tower Semiconductor | benef2 | +53.7 | +8.9 | -29.4 | +68.8 | +128 | +89.4 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
| Mitsubishi Electric | benef2 | -8.1 | +2.5 | +58.7 | +19.1 | +91 | +7.7 |
| Toppan Printing | benef2 | +49.3 | -2.1 | +99.1 | +8.1 | +10.7 | +7.2 |
YTD as of 2026-09-04 · source: Yahoo Finance
Eoptolink operates across SZSE, AI optical transceivers, 800G/1.6T. After a spike in 2023-24 +136.6% / +197%, gains cooled to +368.8% in 2025 and +29.1% in 2026. The supply side (avg +65.2%) has moved harder than the stock (+29.1%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Lumentum (+139.1%) and the furthest behind is Meta Platforms (-6.4%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. With InnoLight, one of the two big suppliers of AI-datacenter optical links.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 1 · Hold 0 · Sell 0 · Avg. target ¥198 · Price ¥386 (09-04) · Upside -49%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Citi | Buy | ¥198 | Jul 15, 2025 | Report ↗ |
Goldman Sachs and Citi have repeatedly raised targets on surging 800G/1.6T optical module demand for AI datacenters, keeping a strong-buy consensus.
Analyses covering this node
← All companiesMarkdown · JSON · Customers · Suppliers · Ripple · Consensus