On September 22, ZJ INNOLIGHT rose 4% in regular trading, trading at HK$1,310.0/share, with turnover of HK$137 million. Multiple catalysts continued to drive bullish sentiment.

On the news front, the company has executed a series of large-scale share buybacks on the Shenzhen Stock Exchange. On September 21 alone, ZJ INNOLIGHT repurchased 315,501 A-shares at prices ranging from RMB 936.50 to RMB 944.68 per share, totaling approximately RMB 297 million. This follows successive buybacks on September 14 (RMB 491 million), September 15 (RMB 199 million), September 16 (RMB 99 million), September 17 (RMB 296 million), and September 11 (RMB 298 million), signaling strong management confidence.

Meanwhile, Goldman Sachs, after visiting 15 Chinese optical communication companies, raised its 800G-and-above optical module demand forecasts for 2027 and 2028 by 39% and 36% respectively, to 144 million and 171 million units, while issuing a Buy rating on the company. ZJ INNOLIGHT's H1 results further underpin the rally, with revenue of RMB 41.78 billion, up 182.49% year-over-year, and net profit of RMB 13.65 billion, up 241.70%.

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