Despite a sharp correction in the optical communications sector since the third quarter, the Q3 results of major listed companies underscore the industry's sustained strong growth momentum, with public funds and insurance capital actively raising their stakes in leading players. According to statistics, in the first three quarters of 2026, 20 major listed companies across the optical communications supply chain reported net profit attributable to shareholders growing faster than revenue, with average gross margins climbing from 36% to 42%, alongside broad-based increases in inventory build-up and production expansion. On a quarterly basis, optical chips, equipment, and optical components posted some of the highest gross margins in Q3, with YOFC, Dongshan Precision, and Cambridge Technology all recording substantial year-on-year gross margin improvements compared with the end of the prior year. The supply chain is actively pursuing next-generation optical communication solutions such as CPO and NPO, while pushing ahead with customer validation and adoption.