According to the Huatai Securities Research Report, using 131 listed companies in the communications sector selected by Huatai Securities as a sample, the total revenue and net profit of the communications industry increased by 13.05%/15.17% year-on-year respectively in the third quarter of 2026, continuing the steady growth trend. Looking at the breakdown, the net profit of AI from leading manufacturers in the optical module & optical chip & optical device, and fiber optic cable sectors continued to be realized; the revenue of ICT equipment/IDC/copper connection/liquid cooling manufacturers grew steadily. Looking ahead to the fourth quarter of 2026 and 2027, Huatai Securities believes that increased investment on the global AI computing power side is expected to drive continued high net profit growth in the ICT equipment sector; the ICT equipment sector is expected to benefit from the release of domestic supernodes to improve profitability; the liquid cooling sector may usher in the fourth quarter of overseas performance; and the copper connectivity sector is expected to continue to release production capacity to achieve net profit growth.

According to the Huatai Securities Research Report, using 131 listed companies in the communications sector selected by Huatai Securities as a sample, the total revenue and net profit of the communications industry increased by 13.05%/15.17% year-on-year respectively in the third quarter of 2026, continuing the steady growth trend. Looking at the breakdown, the net profit of AI from leading manufacturers in the optical module & optical chip & optical device, and fiber optic cable sectors continued to be realized; the revenue of ICT equipment/IDC/copper connection/liquid cooling manufacturers grew steadily. Looking ahead to the fourth quarter of 2026 and 2027, Huatai Securities believes that increased investment on the global AI computing power side is expected to drive continued high net profit growth in the ICT equipment sector; the ICT equipment sector is expected to benefit from the release of domestic supernodes to improve profitability; the liquid cooling sector may usher in the fourth quarter of overseas performance; and the copper connectivity sector is expected to continue to release production capacity to achieve net profit growth.