Foreign trade industry data released in June 2026 show that from January to May this year, the total export volume of domestic electromechanical products reached 7.58 trillion yuan, accounting for 63.6% of the country’s overall export scale. Since March 2025, exports have increased year-on-year for fifteen consecutive months, constantly setting new records for the same period in previous years.
The core force supporting this round of steady growth in foreign trade is various AI hardware products. This category of goods alone contributed more than half of the new increase in mechanical and electrical exports, becoming a key pillar in stabilizing the foreign trade market. Among them, the prosperity of two sub-sectors, high-speed optical modules and server-specific electronic fabrics, continues to rise, and there is sufficient room for mid- to long-term development.
Two clear market signals can be read from the currently disclosed industry status, all of which correspond to the actual demand for physical orders and there is no conceptual hype: First, the demand for high-speed optical modules of 800G and above specifications in newly built computing power centers overseas is exploding, and the overseas shipments of corresponding products of many domestic leading manufacturers have increased year-on-year.
The factory production line operates two shifts around the clock, and full-capacity production still cannot keep up with the order speed of overseas customers; secondly, the supply of electronic fiberglass cloth necessary for assembling AI servers is now tight. Nearly a thousand looms in related domestic production bases operate continuously throughout the day, with almost no downtime. The market supply and demand gap is difficult to fill in the short term.
Currently, many countries around the world are accelerating the construction of local computing power infrastructure. Overseas cloud manufacturers and technology companies have taken the initiative to increase the share of high-end hardware procurement in my country. The stage for the domestic computing power industry chain to go overseas to realize profits has officially begun. There is sufficient support for the subsequent performance growth of leading companies in the track.
Judging from the performance of companies in the segmented tracks, the product lines of global leading manufacturers in the field of high-speed optical modules cover 800G, 1.6T, and 3.2T multi-generation high-speed optical modules, and they simultaneously deploy silicon optical packaging related supporting products. The supply channels cover the computing power projects of many leading cloud service providers in North America and Europe. In the first half of 2026
Overseas orders have continued to flow throughout the year. Many overseas customers have placed stocking requirements for the fourth quarter in advance. Factory production lines have been running at full capacity for a long time. Some companies focusing on overseas markets account for more than 90% of their overseas business revenue. The gross profit margin of high-end products has stabilized in the range of 28% to 33%. The annual net profit is expected to maintain a growth rate of more than 60%.
Leading domestic companies in the field of electronic fabrics specialize in high-frequency and high-speed electronic fabrics suitable for AI servers. The independently developed high-end ultra-thin electronic fabrics have achieved domestic substitution, breaking the long-term monopoly of overseas companies. Upstream fiberglass raw materials are independently supplied, and cost control advantages are obvious.
The current order scheduling cycle for electronic cloth specifically for AI servers has been extended to the fourth quarter of 2026. Overseas PCB manufacturers continue to increase purchase quantities. The proportion of computing power-related electronic cloth in the company’s total revenue is increasing month by month. Product supply exceeds demand, driving selling prices to rise steadily, and the company’s overall profitability continues to improve.
The global AI server OEM leader in the field of computing power complete machine supporting equipment is the core OEM partner of leading overseas cloud manufacturers. Large quantities of AI server complete machines are sold overseas. In 2026, large-scale long-term OEM contracts for overseas AI servers have been finalized. The overseas shipments of complete machines have doubled year-on-year. As the core carrier of computing power overseas, it has indirectly stimulated the expansion of upstream optical modules and electronic fabric market demand.
Industry outlook shows that the current foreign trade of AI computing power has reached an inflection point in mid- to long-term development. In the next two to three years, the pace of construction of global overseas computing power parks will not slow down, and various AI hardware products will continue to become the core supporting categories of my country’s foreign trade exports.
The imbalance between supply and demand in the two major segments of 800G and above high-speed optical modules and AI server-specific electronic fabrics is difficult to reverse in the short term. The leading factories in the industry have been at full production for a long time, and new overseas orders have continued to flow. Corporate performance will gradually be realized. At the same time, there are dual positive supports of performance growth and valuation restoration. In the future, leading companies in the computing power industry chain with a high proportion of overseas customers, large shipments of high-end products, and outstanding overseas delivery and supply capabilities will have greater room for development.
