This round of AI market is gradually transmitting to the upstream, and as an infrastructure end, in addition to the server and optical module with market awareness, some indirectly benefited materials and equipment have received attention. The electronic team of Caitong Securities recently suggested that investors pay attention to communication ceramic materials, which are used for optical communication devices. The research report released by Li Jiu of Northeast Securities on April 29th pointed out that the ceramic casing of optical communication devices, as an important part of the casing of optoelectronic devices, directly restricts the overall development of optical fiber systems with its technological level. In addition, the optical module can be equipped with AI server in data transmission, which is the necessary transmission hardware for current large model training and reasoning, and directly benefits from the surge of AI demand. The electronic ceramic shell is an essential component of the optical module, and AI computing power needs to open its incremental space. According to MarketsMarkets statistics, the global electronic ceramic market space is expected to grow to 226.4 billion yuan in 2025, with a CAGR of 5.4% from 2021 to 2025. Domestic policies are actively promoting the expansion of the electronic ceramic market. According to Guanyan Consulting, the market space of China's electronic ceramics is expected to grow to 148.9 billion yuan in 2025, with a CAGR of up to 14% from 2021 to 2025. From the perspective of the industry chain, Dongfang Securities pointed out that the upstream of the electronic ceramic industry is raw material and equipment suppliers, mainly including (1) electronic ceramic powders such as alumina and zirconia, represented by enterprises such as national porcelain materials, some of which have reached international advanced levels; (2) Silver slurry, precious metals and other slurries are partially dependent on imports from Japanese companies; (3) Chemical raw materials, mainly imported from American enterprises; (4) Some production equipment such as electronic ceramic powder synthesis equipment, precision electronic ceramic film casting machine, hot pressing sintering equipment, and laser cutting machine have achieved local substitution. The main players in the middle of the industrial chain are electronic ceramic production enterprises, represented by Sanhuan Group, Fenghua High tech, etc. The main products include structural ceramics and functional ceramics, with complex preparation processes and high technical difficulties. The downstream applications are extensive, including terminal optical communication, wireless communication, industrial laser, consumer electronics, automotive electronics, etc. From the perspective of competitive landscape, the global electronic ceramic market presents a pattern of three superpowers and multiple strengths, with broad space for localization. Among them, Murata from Japan, Ferro from the United States, and Kyocera from Japan accounted for 23.9%, 23.3%, and 19.3% of the market share in 2021, respectively, with a CR3 share of 67%. In recent years, domestic enterprises have continuously increased their investment efforts, improved their research and development capabilities, and gradually approached foreign giants in the field of electronic ceramic high-end products. Domestic manufacturers represented by Sanhuan Group (3.7%) and Zhongci Electronics (0.6%) have accelerated their rise. Focusing on the field of communication, Li Jiu pointed out that China Electronics is a scarce supplier of 800G optical module ceramic shells, benchmarking Kyocera and NGK/NTK. The transmission rate of the ceramic shells of optical communication devices produced by China Electronics has covered 2.5Gbps to 800Gbps, and has entered well-known customers such as Huawei, New Eason, and Zhongji Xuchuang, and has cooperated steadily for many years. The ceramic shell of optical module has built high barriers. As a rare supplier in China, the company is expected to continue to benefit from the high demand for optical module from AI wave