Dongshan Precision ranks 13 on the AI Infra 100 with a score of 98; T&S Communications ranks 35 with 93. Dongshan Precision is ahead on deployment and production. Level on commercials, progress, technology, positioning, firepower and leverage. Dongshan Precision is based in Suzhou, China, T&S Communications in Shenzhen, China. Dongshan Precision is named in 1 signals and T&S Communications in 7.
Through Source Photonics, Dongshan Precision develops and manufactures optical chips, CW lasers, and high-speed optical transceiver modules, including 800G and 1.6T products for AI server interconnects.
Darker bar: ahead of the other company on that measure.
Scoped the same way as TRUMPF, this is one row on the parent with the acquired businesses as aliases. Dongshan is a PCB and precision components maker that bought its way into AI optical interconnect and now claims to be the only company anywhere with full R&D-to-production capability across PCB, optical chips and optical modules. The board approved the Source Photonics acquisition on 2025-06-13 through subsidiary Hong Kong Chaoyi, at up to USD 629 million for 100 percent of the equity plus up to USD 58 million for ESOP interests, with a further subscription of up to RMB 1 billion in convertible bonds, totalling close to RMB 6 billion. FY2025 group revenue passed RMB 40 billion for the first time at RMB 40.125 billion, up 9.12 percent, with net profit attributable RMB 1.386 billion, up 27.67 percent. The traditional electronic circuits business, built on MFLEX which holds the world's second-largest FPC capacity, contributed RMB 25.62 billion, up 3.3 percent, providing cash flow while the new businesses grew. Q1 2026 is where the acquisition shows: revenue RMB 13.138 billion, up 52.72 percent, net profit RMB 1.110 billion, up 143.47 percent and 581.80 percent sequentially, gross margin up 5.19 points to 19.33 percent and net margin up to 8.56 percent. Source Photonics contributed 16.02 percent of revenue and 52.92 percent of profit in that quarter, against 3.58 and 22.69 percent for full-year 2025. On the optical side it runs an IDM model spanning indium phosphide substrate th
1 signals name Dongshan Precision.
18 facts on file.
T&S Communications develops and mass-produces passive and active optical devices, including 1.6T optical engines and CPO components, for data-center networking.
Darker bar: ahead of the other company on that measure.
T&S is the quiet outlier in this cluster: a component and packaging supplier rather than a module brand, and by a wide margin the most profitable company in the Chinese optical chain. FY2025 revenue was RMB 5.163 billion, up 58.79 percent, with net profit attributable RMB 2.017 billion, up 50.15 percent, both all-time highs, at a net margin of 39.08 percent and a return on invested capital of 40.58 percent. Those are semiconductor-IP-like returns earned on optical hardware, indicating real pricing power in optical engine packaging rather than the thin-margin module assembly the category is usually associated with. Active optical device revenue reached RMB 2.997 billion, up 81.11 percent, at 58.06 percent of revenue on higher-speed active deliveries, while passive devices contributed RMB 2.084 billion, up 32.23 percent at 40.37 percent. Operating cash flow was RMB 1.868 billion, up 47.97 percent, and R&D spend was RMB 267 million. The technology record is on the CPO transition path: completed volume production of 1.6T optical engines and finished development of CPO-supporting optical devices for next-generation supercomputing and AI cluster applications, with R&D on multi-channel components for CPO-ELS module applications and on silicon photonics integration. Its Thailand Phase 2 plant enters large-scale production in 2026. The visible drag is Q4, where foreign exchange losses raised financial expenses and stage-specific material supply bottlenecks constrained output, leaving
7 signals name T&S Communications.
11 facts on file.
Dongshan Precision ranks 13 on the AI Infra 100 with a score of 98; T&S Communications ranks 35 with 93. Dongshan Precision is ahead on deployment and production. Level on commercials, progress, technology, positioning, firepower and leverage. Dongshan Precision is based in Suzhou, China, T&S Communications in Shenzhen, China. Dongshan Precision is named in 1 signals and T&S Communications in 7.
Dongshan Precision ranks 13 on the AI Infra 100 with a score of 98; T&S Communications ranks 35 with 93. Dongshan Precision is ahead on deployment and production. Level on commercials, progress, technology, positioning, firepower and leverage. Dongshan Precision is based in Suzhou, China, T&S Communications in Shenzhen, China. Dongshan Precision is named in 1 signals and T&S Communications in 7. Both company files carry the scores on eight measures, the facts with sources and the latest signals.
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