[Citic Securities: optical modules are expected to accelerate the localization of semiconductor refrigeration (TEC)] according to CITIC Securities Research report, semiconductor refrigeration (TEC) is used in semiconductors, new energy vehicles, medical and other industries with the advantages of high efficiency, energy saving, environmental protection and long life, among which the ultra-miniature cooler (Micro TEC) has better performance and can be used in optical modules. With the rapid development of large models and applications of AI, advanced solutions such as high speed and low power consumption are expected to accelerate development, and Micro TEC is expected to benefit directly. At present, foreign-funded enterprises play a leading role. On the one hand, domestic enterprises accelerate technology research and development, while benefiting from the growth of domestic optical module enterprises, they are expected to accelerate domestic substitution.