Flash | 07 Apr 2026 11:04:21 ET │ 10 pages Suzhou TFC Optical Communication (300394.SZ) FY25 NP in-line with mid-point of guidance CITI'S TAKE TFC reported FY25 results on 7 April after market close with NP grew 50% YoY to Rmb2.0bn, in-line with mid-point of its prior guidance. 4Q25 revenue/NP were up 45%/50% YoY (-15%/-3% QoQ) to Rmb1.25bn/552mn, likely due to tight supply in EML and a certain delay in shipment/revenue recognition. We noted that GM surged 6.1ppt YoY/6.9ppt QoQ to 60.6% likely due to produc ...