According to the research report released by CITIC Securities, the AI computing network is advancing into a pivotal stage characterized by all-optical interconnection. NPO technology, distinguished by its exceptional performance in terms of signal integrity, power efficiency, and ease of maintenance, has emerged as the perfect solution for overcoming bandwidth limitations. Major tech players such as Alibaba and Tencent are expediting the rollout and standardization of NPO architectures, propelling the technology towards widespread commercialization. This fundamental shift in hardware is driving a reorganization of the optical communication industry supply chain, motivating manufacturers to shift their focus from assembling individual modules to higher-value-added domains like silicon photonics integration. Leading Chinese optical module companies are poised to reap the benefits of this core computing infrastructure upgrade, achieving simultaneous enhancements in both performance and market valuation, and offering significant long-term investment potential. CITIC Securities maintains an 'Outperform' rating for the communications industry.