May 27, 2026 — Wuhan Changjin Photonics Technology Co., Ltd. (stock code: 688635.SH, “Changjin Photonics”) has officially listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange. As a national-level “Little Giant” enterprise specializing in advanced technologies, the Company marks a key milestone in its capital market journey after over a decade of independent R&D in special optical fibers.
Headquartered in China’s “Optics Valley”, Changjin Photonics focuses on the R&D, production and sales of special optical fibers. It has continuously broken through core technologies, built a diversified product portfolio, and formed independently controllable core technology capabilities. As of the end of 2025, the Company held 57 patents in total, including 37 invention patents, laying a solid foundation for product iteration and technological innovation.
Leveraging strong technological advantages, Changjin Photonics accelerates the industrialization of R&D achievements, achieving localization breakthroughs and large-scale commercialization across multiple sectors, and advancing the self-reliance of China’s special optical fiber industry. In advanced manufacturing, it mass-produces and sells export-controlled ytterbium-doped optical fibers and high-power ytterbium-doped optical fibers above 6kW, serving as a core supplier to leading laser manufacturers such as Raycus Laser, Maxphotonics and JPT Opto-electronics. In optical communications, its products have entered the supply chains of well-known enterprises including Accelink Technologies and Dcore Technology. Ultra-broadband L-band erbium-doped optical fibers have been mass-produced and deployed commercially, supporting the large-scale rollout of China’s 400G optical transmission networks. In measurement and sensing, it is among the few domestic manufacturers capable of mass-producing and selling erbium-ytterbium co-doped optical fibers, and has established deep cooperation with major LiDAR light source manufacturers.
The Company is also actively expanding into emerging sectors. In space laser communications, its independently developed radiation-resistant rare earth-doped optical fibers have passed verification by leading enterprises and achieved small-batch supply, precisely meeting the needs of the commercial aerospace industry and opening new growth opportunities.
Technological leadership is underpinned by intensive R&D investment and a high-caliber talent team. Over the past three years, cumulative R&D expenses have exceeded RMB 84.43 million, with R&D intensity consistently above 13%. The Company has built a top-tier R&D team led by founder Professor Li Jinyan, including 12 PhDs. Eight core technical personnel possess extensive industry experience in R&D and industrialization.
Strong technological capabilities have translated into solid business performance. From 2023 to 2025, operating revenue grew from RMB 145 million to RMB 247 million, representing a three-year CAGR of 30.67%. Net profit rose steadily from RMB 54.6565 million to RMB 95.6404 million, demonstrating sustained profitability. In the first quarter of 2026, the Company maintained high-quality growth, achieving operating revenue of RMB 53.9530 million (up 20.62% YoY) and net profit of RMB 19.8865 million (up 30.98% YoY), with both revenue and profit growing robustly.
Looking ahead, Changjin Photonics will leverage its new STAR Market platform to seize strategic opportunities in industrial upgrading and next-generation information technologies. Upholding its mission to break foreign technology monopolies and lead the domestic special optical fiber industry, the Company will continue to focus on core technology breakthroughs, upgrade its product portfolio, empower smart manufacturing and strategic emerging industries, support the high-quality development of China’s special optical fiber sector, and drive “Made in China” toward higher value.