Sharp Fall on Closing Day, Silicon Photonics Group Weakens
Taiwan stocks faced heavy selling pressure on the October 30 closing day, with the weighted index briefly falling below the 45000-point mark intraday and finally plunging 1156.5 points, down 2.49%, to close at 45,211.83 points. Amid broader market weakness, silicon photonics concept stocks fell across the board with subdued sentiment, and bellwether 聯亞 touched limit-down intraday, becoming the focus of the session.
聯亞 Touches Limit-Down, Foreign Investors Sell Net for 7 Days
聯亞 (3081) closed down nearly 8% at 2370 yuan, with foreign investors selling net for 7 consecutive trading days, including net sales of over 700 million yuan on the 30th. Among other stocks, 聯鈞 (3450) fell below the 400-yuan mark in early trading and closed down 5.54% at 409 yuan; IET-KY (4971) plunged over 9% to close at 429 yuan; 上詮 (3363) fell about 3% to close at 474.5 yuan.
Multiple Stocks Plunge, 台燿 Nears Limit-Down
光聖 (6442) closed down 5.74% at 1230 yuan; 波若威 (3163) fell more than half a limit-down to barely hold the 500-yuan mark, closing at 509 yuan; 台燿 (6274) repeatedly approached limit-down intraday and closed down nearly 9% at 1265 yuan. The overall silicon photonics group posted sharp declines, with concentrated short-term selling pressure and a strong wait-and-see mood in the market.
Record Profit, 8 Billion Expansion and Long-Term Contract
On fundamentals, 聯亞 said at a recent investor conference that, benefiting from strong silicon photonics demand, third-quarter after-tax earnings per share reached 6.12 yuan, with cumulative EPS of 13.88 yuan for the first three quarters. The company plans capital expenditures of over 8 billion yuan for expansion, targeting a scale about 6 times the current level in 2 years, and has signed a four-year supply agreement with a U.S. data-center customer, with subsequent shipment momentum in focus.
Foreign Firm Says Sell, Domestic Institution Sees 3300 Yuan
Institutional views are polarized. A Japanese foreign firm believes 聯亞 shares have already priced in positives, with valuation on the high side, and that the long-term contract does not guarantee demand; if global AI capital expenditure slows, subsequent operations could still be hit, so it assigns a sell rating. On the other hand, a domestic institution said in an October 29 report that 聯亞 orders on hand have exceeded full-year 2026 revenue, with continued shipments of 400G and 800G products, initial shipments of 1.6T products, 200G PD certified, and 3.2T ELS for NPO and CPO applications under joint development with customers; fourth-quarter revenue is estimated at 1.7 billion yuan, up 9% quarter-on-quarter and 165% year-on-year, and with the expansion plan advancing, it assigns a buy rating with a target price of up to 3300 yuan.