300827, approaching 20% daily limit up near noon! New energy industry chain, massive breakout

Communication equipment, photovoltaic devices, hotel and catering, energy metals and other sectors lead the gains.

On the morning of March 20, A-shares fluctuated and rebounded, with the Shanghai Composite Index holding above 4,000 points. The ChiNext Index opened higher with increased volume and rose sharply by 3.3%, breaking a new high in over four years. The Shenzhen Component Index, STAR Market Composite Index, and CSI 50 also steadily strengthened, with trading volume showing a slight increase.

In the market, sectors such as communication equipment, photovoltaic devices, hotel and catering, and energy metals led the gains, while oilfield engineering, medical beauty, telecommunications services, and Zhipu AI declined.

Supply and demand tightness in optical communication chips

Communication equipment concept stocks all strengthened in the morning, with sector indices soaring nearly 6% at one point, approaching historical highs. Leading stocks included Guangku Technology, Xinyi Sheng, Mingpu Optical Magnet, and Shijia Photonics.

Related sectors such as optical communication, CPO concepts, and optical optical points also gained momentum. Notably, source杰科技, a optical communication chip company, hit a 20% daily limit early in the morning, with its stock price surpassing 1,000 yuan, making it the second-highest priced stock after Kweichow Moutai; Changguang Huaxin and Tengjing Technology also hit the daily limit or rose over 10%.

On the news front, at the global communications industry event “OFC 2026,” giants like Corning, Cisco, Arista, Nokia, and Ciena showcased numerous new products, mainly in the field of optical communication chips.

Nvidia CEO Jensen Huang pointed out that traditional copper cable interconnects are nearing physical limits when dealing with 800G and higher frequencies, making it impossible to support large-scale AI cluster expansion across cabinets. Optical interconnect technology, with its ultra-high transmission density, low power consumption, and long-distance transmission advantages brought by wavelength division multiplexing, is the only solution to break this bottleneck. The development bottleneck of AI computing power has shifted from “computing” to “connectivity.”

Moreover, optical chips, as the core underlying components of optical interconnects, are facing severe supply-demand shortages. Lumentum, a manufacturer of optical modules, explicitly stated in its latest financial guidance that there is still a 25%-30% gap between supply and demand for EML chips, with orders deeply locked in until the end of 2027.

Guosheng Securities noted that as the global AI computing power race intensifies, optical communication, as the foundation of data transmission, is expanding its investment logic from leading companies to high-resilience, high-barrier, or core-positioned quality targets.

Renewable energy continues to strengthen

The new energy industry chain remains active, with “wind, solar, and storage” sectors taking turns to outperform. This morning, photovoltaic equipment led the gains, with sector indices soaring over 6%, and half-day trading volume exceeding that of the entire previous day. Envision Energy (300827) and Shouhang New Energy both hit the 20% daily limit near midday, while Airo Energy, Jinneng Technology, and others also saw over 10 stocks hitting the daily limit or rising more than 10%.

Wind power equipment, solid-state batteries, energy storage, and green electricity sectors also surged with increased volume, with China Power Energy, Shao Neng Shares, China Power Liaoning Energy, and Silver Star Energy hitting the daily limit in batches.

According to the latest data from InfoLink, overall photovoltaic module production rebounded significantly in March 2026, reaching 44GW–45GW, a month-on-month increase of about 28%–29%. Domestic production increased to 32GW–33GW, and overseas production to 11GW–12GW.

Additionally, space photovoltaic demand is expected to see exponential growth. Elon Musk’s investment in photovoltaic manufacturing is paving the way for orbital computing power and AI power supply. Leading Chinese photovoltaic equipment manufacturers, with their efficient iteration and rapid response capabilities, are expected to join the supply chains of Tesla, SpaceX, and others, opening new growth opportunities.

Yijian Securities pointed out that the international environment in the energy sector is complex and severe, with ongoing geopolitical conflicts. Photovoltaics and other new energy sources may become new breakthroughs to ensure national energy security. Some products, including photovoltaic value-added tax rebates for exports, will be canceled starting April 2026, which may temporarily boost domestic photovoltaic exports. In the long term, it could also promote the clearing of outdated capacity and optimize capacity structure. It is recommended to focus on related targets in photovoltaic storage.