Zhongji InnoLight is expected to enjoy multiyear secular growth, driven by its artificial-intelligence optical network business, Nomura analysts Bing Duan and Ethan Zhang say in a note. The bank expects growth from strong demand for 1.6T transceivers and 3.2T transceiver upgrades from 2028 and beyond. Expansion into near-field packaging optics and co-packaged optics will also contribute to InnoLight's growth, the analysts say. Nomura, which maintains a buy rating, upgraded the target price to 1,015.00 yuan from 799.00 yuan after strong 1Q results. The stock is up 2.5% at 829.88 yuan. ([email protected])