Lianxun Instruments Surges 20% to Become China’s A‑Share “Stock King”

On August 4, 2026, Lianxun Instruments Co., Ltd. (联讯仪器) hit a 20% daily limit‑up on the Shanghai Stock Exchange, closing at ¥1,948.80 per share and pushing its market value past ¥200.1 billion, cementing its position as the highest‑priced A‑share stock. The rally was driven by a strong earnings outlook: the company forecast first‑half net profit of ¥5.10‑5.80 billion, an increase of roughly 800‑925% year‑on‑year, citing rapid order growth for its optical testing equipment amid accelerating global AI‑driven compute expansion.

Lianxun’s core business focuses on testing solutions for CPO (coherent photonic‑optical) engines, CW lasers, and silicon‑photonic wafers. With major players such as NVIDIA and Broadcom beginning limited shipments of CPO switches, the technology is moving from lab to commercial deployment, opening a sizable market for testing equipment. Lianxun holds a 9.9% share of the global optical‑communication test‑equipment market, ranking third worldwide and the only domestic firm among the top five, positioning it to benefit from rising domestic content requirements. Analysts note that the CPO sector remains early‑stage, with short‑term price volatility and the need for continued cloud‑provider capex to sustain growth.