In June 2026, a subsidiary of Suzhou Dongshan Precision Manufacturing Co.,Ltd. (002384.SZ), Sorlson Optoelectronics, experienced a loss of goods during cross-border transport. The incident involved DML optical chips and semi-finished optical modules, with the market valuation of the affected goods reaching up to $27 million. Following the news, market concerns grew that the company's order delivery schedule for overseas cloud customers might be disrupted, and investor scrutiny over its overseas supply chain management capabilities has intensified.

While Dongshan Precision responded that the high-value optical module products involved are fully insured under cargo transportation insurance, and that full compensation is expected, meaning short-term performance will not be impacted, the incident has exposed the supply chain security risks faced by domestic AI hardware manufacturers expanding overseas. It has also prompted the market to re-evaluate the core operational logic of Dongshan Precision.

A deeper concern lies in the fact that Dongshan Precision's core production capacity and technological foundation in the optical communication and AI hardware sectors in recent years have come from external acquisitions. These include the 5.935 billion yuan acquisition of Sorlson Optoelectronics to secure its optical chip and high-speed optical module system, the 1.9 billion yuan acquisition of Multek to bolster its high-end PCB capabilities, and the 4 billion yuan acquisition of MFLX to obtain FPC technology. The company's ability to conduct original research, fundamental breakthroughs, and independent innovation through purely internal means is relatively weak.

Against the backdrop of high valuations in the AI optical chip and optical module sector, which has already priced in future performance, questions are being raised about whether the highly acquisition-driven growth model can be sustained. The company's medium-to-long-term growth and stability are drawing increased attention.

Disclaimer: This article is generated by AI and should be carefully reviewed.