Lianxun Instruments' H1 Net Profit Expected to Surge Over 8x as AI Drives Explosive Demand for Optical Module Testing
N.R. Finch
Lianxun Instruments (联讯仪器) guides H1 2026 net profit at RMB 510–580 million, up 802%–926% year-on-year, as AI capex flows down the supply chain to optical-module test equipment — opening its first real earnings-delivery window.
Profit jumped from RMB 57 million to over 500 million — what happened?
H1 2026 net profit attributable to shareholders is guided at RMB 510–580 million, versus just RMB 56.54 million a year ago — an increase of more than 8x.
Non-recurring-adjusted net profit is guided at RMB 500–570 million, growing 830%–960%. This means → virtually all the growth comes from the core business, not asset sales or one-off gains.
In plain terms = the company actually earned the money; this is not an accounting optic.
Where did the money come from — how does AI spending reach a test-equipment maker?
The transmission chain: cloud companies expand compute → data-centre buildout accelerates → demand for high-speed optical modules surges → module and optical-chip makers ramp capacity → test-equipment purchases rise.
Lianxun makes telecom test instruments and optoelectronic-component test gear — it sits at the tail end of this chain, the last link to receive the spending wave.
In plain terms = AI companies buy compute and build data centres; that requires optical modules — devices that convert light signals to electrical signals and back. Module makers expanding production must buy test equipment, and Lianxun is the one selling it.
Can this growth rate last — what is the market watching?
Lianxun's latest share price is RMB 1,888.08, the highest-priced stock on the A-share market.
The company has just moved from "expected beneficiary" into an actual earnings-delivery cycle; the market's verification window is now open.
This means → the question is no longer "can AI lift test-equipment demand?" but "how many quarters can this pace hold?" — order visibility and optical-module makers' expansion timelines become the key variables.
Content is for reference only, not financial advice.