China A-share CPO stocks reverse gains; Zhongji Innolight falls over 5%

The intraday reversal in the "Yi Zhong Tian" group suggests momentum in the CPO trade is fragile, with early buying met by sellers into the afternoon. Zhongji Innolight's outsized decline relative to Eoptolink and T&S points to dispersion within a basket that is often traded as a single theme, so leadership is narrowing rather than broadening. For a sector tied to AI networking demand, such intraday swings say more about positioning and crowding than fundamentals. Whether the group's components continue to diverge, rather than move in lockstep, is the open question worth tracking.