JPT Opto‑Electronics Surges on CPO Boom: 20%+ Rally & Market‑Wide Momentum

Shenzhen JPT Opto‑Electronics Co Ltd: CPO Surge Fuels a Surge in Market Sentiment

Shenzhen JPT Opto‑Electronics Co Ltd (JPT) is one of the most aggressively traded names in the current A‑share cycle, its shares routinely reaching 20 %‑plus limits on days when the CPO (Chip‑on‑Package Optics) theme dominates. The company’s last close of 209.71 CNY on 23 Feb 2026 sits comfortably above the 52‑week low of 37.50 CNY but still trails the 52‑week high of 234.02 CNY, signalling a consolidating rally that investors view as a buying opportunity.

1. CPO‑Driven Momentum

Three consecutive reports released on 26 Feb 2026 confirm the centrality of the CPO narrative to JPT’s price action:

The CPO narrative is buoyed by a forecast that 800 Gbps‑plus optical modules will capture more than 60 % of global shipments by 2026 (TrendForce). The demand for high‑bandwidth modules is directly tied to the explosive growth in AI data‑center traffic—a sector where JPT’s optical chips and CPO products are positioned as critical building blocks.

2. Supply Constraints Amplify Upside

Industry data underscore a tightening supply chain for core optical components:

• LightCounting reports that EML and CW laser chips will remain in short supply through the end of 2026.
• Lumentum has identified a 25‑30 % capacity gap in InP wafer fabs, implying that supply will lag demand until 2027.
• The CPO market pivot is anticipated to reach a tipping point before the end of 2027, with the first scale‑up CPO products expected in the second half of 2027.

These shortages are a catalyst for price pressure on suppliers such as JPT. When the market’s appetite for high‑speed modules outstrips the supply of their building blocks, premium pricing becomes sustainable, boosting revenue and margins for companies that can meet the demand.

3. Valuation Context

JPT trades at a price‑earnings ratio of 53.91, considerably above the sector average. However, the market cap of 19.93 bn CNY indicates that investors have already priced in a robust earnings trajectory, largely driven by the CPO boom. The 52‑week high of 234.02 CNY remains within reach if the supply‑demand imbalance continues to favour suppliers.

4. Market‑Wide Sentiment and Macro Backdrop

On 25 Feb 2026, the Shanghai Composite and CSI 300 indices opened higher, reflecting a continued cycle‑stock surge, while sector‑specific strengths were noted in chemical, metals, and AI‑related stocks. The Nvidia earnings release on 25 Feb amplified global tech sentiment, providing a backdrop for the CPO rally. This confluence of macro and sector momentum has reinforced the bullish bias toward JPT and its peers.

5. Forward‑Looking Outlook

• Demand Side: Cloud providers’ capital expenditure is forecast to increase by 61 % in 2026, with AI data‑center traffic projected to double year‑on‑year. JPT’s optical modules are positioned to capture a growing share of this high‑bandwidth market.
• Supply Side: Continued bottlenecks in key optical components will keep pricing pressure high. Once the supply chain stabilizes, a shift back to more cost‑efficient packaging may compress margins; however, this transition is expected to be gradual, allowing JPT to maintain its premium positioning for the near term.
• Valuation: The current P/E reflects a high‑growth narrative. If the CPO trajectory sustains, a further 10‑15 % appreciation is plausible before the 52‑week high is tested.

In sum, Shenzhen JPT Opto‑Electronics Co Ltd sits at the nexus of a supply‑constrained, high‑demand optical technology market. The firm’s recent limit‑reach trading and the broader CPO theme’s momentum suggest that the company is poised to deliver solid upside in the short to medium term, provided the macro‑technological trends it relies on continue to accelerate.