Zhitong Financial APP learned that Guolian Securities issued a research report saying that from the exhibitors of domestic optical module products, domestic enterprises have achieved remarkable results in actively laying out high-end products such as 1.6T, 800G and 400G ZR. With the appearance of 200G related optoelectronic chip products, the competitiveness of 1.6T pluggable optical module is further increased. At the same time, domestic enterprises actively adopt new technologies and devices, and begin to lead the industry in low cost and low power consumption. Recommendation: the leading products of 300308.SZ, 300502.SZ and 301205.SZ, Tianfu Communications (300394.SZ) focusing on 800G high-speed optical engine products, and Optical Library Technology (300620.SZ), a domestic scarce thin film lithium niobate modulator manufacturer.
Events:OFC is the most important event in the global optoelectronic communication exhibition. The 48th Optical Network and Communications Seminar and Expo (Optical Fiber Communication Conference & Exposition,OFC 2023) was held at the San Diego Convention and Exhibition Center in San Diego, California, from March 5 to 9, local time. Domestic 1.6T, 800G, 400G coherent optical modules and other advanced products focused on the debut.
The main points of Guolian Securities are as follows:
Domestic enterprises actively layout 800G and 1.6T optical modules
At present, 800G and 1.6T optical modules are the most advanced data center optical communication products. Chinese optical communication enterprises continue to take the lead in the active layout of related chips and optical module products. Zhongji Xuchuang, Xinyi Sheng, Optical Technology, Cambridge Technology, Liante Technology and so on displayed 1.6T and 800G optical module products at the venue.
200G optoelectronic devices support the development of 1.6T pluggable optical module industry
MACOM introduces a product line of 226Gbps technology per channel, which can support the development of 1.6T optical modules. The product family includes transimpedance amplifiers (TIA) MATA-40734 and MATA-40736, externally modulated laser (EML) driver MAOM-11112 and photodiode MARP-BP112. Solth, a domestic optical chip supplier, demonstrated a single-wave 200G PAM4 EML laser, which can meet the needs of 4-channel 800G and 8-channel 1.6T optical modules.
Low cost and low power demand accelerate the introduction of new technologies
In order to effectively control the cost and power consumption of 800G and 1.6T optical modules, optical module manufacturers actively adopt new architectures and new devices. Both Xinyi Sheng and Liante Technologies have launched 800G products using thin film lithium niobate (TFLN) modulation. The latest 800G OSFP DR8 module based on thin film lithium niobate (TFLN) modulator with a 5 nm DSP chip integrated with TIA consumes only 11.2W, which is a leading position in the industry and sets a new standard for 800G optical modules.
Coherent sinking trend is obvious, 400g ZR products are released centrally.
Huagong Zhengyuan released Demo 400G ZR/ZR+/ZR+Pro series coherent optical modules on the spot. Zhongji Xuchuang also launched 400G ZR and 400G ZR+ QSFP-DD coherent transceiver modules on OFC 2023, which are fully compliant with QSFP-DD MSA, CMIS and OIF OpenZR plus standards and support 500km transmission.
Risk Tips:Downstream customer demand is lower than the expected risk, the introduction of new products is less than the expected risk, and the intensification of competition leads to the risk of price war.