According to a research report by CSCIB, China exported 3,779.9 metric tons of fiber optics in February this year, with a total value of 790 million yuan. This reflects significant year-on-year growth of 63.6% in volume and 126.8% in value. Approximately 25.2 million core kilometers of fiber optics were exported, representing roughly 65% of the monthly effective production output. When including fiber optics incorporated into cable exports, the overall export ratio climbs even higher. The impact of rising fiber optic prices on financial performance is not anticipated to be substantial in the first quarter. Currently, there is a surge in overseas demand for Chinese fiber optics, with suppliers operating in a "sell without concern" environment. Consequently, the market need not place excessive emphasis on group purchases of fiber optics by domestic operators. Strong overseas demand for telecommunications networks, AI, and other sectors is fueling rapid growth in fiber optic demand and driving prices upward. The industry is currently in a high-growth phase, and we maintain our positive recommendation for the fiber optic sector. Meanwhile, Google's newly released TurboQuant algorithm enables near-lossless compression of AI inference memory, significantly reducing the cost of long-context inference. We continue to favor the AI industry chain.