Group 1 - The legal representative of Hongsheng Group, Zhu Lidan, responded to rumors of being taken away for investigation, stating it is a rumor [5] - Vivo has filed a lawsuit against a certain MCN for malicious defamation, and the case has been officially registered [7] - Xiaomi ranked first in China's smartphone market sales for two consecutive weeks, with a market share of 21.2% during the Golden Week [7] Group 2 - Meituan is piloting a feature that allows delivery riders to block customers who threaten or insult them, currently available in seven cities [5] - BYD confirmed that the discontinuation of the Song PLUS model is a normal product transition, with the new model being the Hai Si 06 [6] - Eastern Airlines announced free Wi-Fi service on its domestic "Air Express" wide-body aircraft starting October 11 [6] Group 3 - The trademark dispute over "Wanglaoji" has intensified, with both JDB Group and Guangzhou Wanglaoji Health Industry Co. claiming rights to the overseas trademark [6] - Qualcomm is under investigation for allegedly violating antitrust laws related to its acquisition of Autotalks, and the company is cooperating with the investigation [9] - Nvidia CEO Jensen Huang sold 225,000 shares of the company in October, cashing out over $113 million in total this month [9]

Core Viewpoint - The stock price of optical module concept stocks has surged, with Cambridge Technology (603083.SH) showing significant performance, achieving a market value of 29.24 billion yuan and nearly 2.5 times growth since 2025 [1][9] Company Overview - Cambridge Technology was founded by Huang Gang, who has a strong background in the optical communication industry, having previously co-founded Guangqiao Technology and worked at AT&T and Lucent Technologies [3][5] - Huang Gang currently holds 13.64% of Cambridge Technology, with an estimated net worth of nearly 4 billion yuan [1][9] Business Strategy and Development - The company initially focused on GPON equipment, which has a lower technical barrier but stable market demand, allowing for quick cash flow accumulation [5] - Cambridge Technology has established stable partnerships with several international communication equipment manufacturers, becoming a key distributor in the Chinese market [5] - The company faced intense competition from major players like Huawei and ZTE, leading to a weak profitability situation until 2014, when revenue grew by 101.99% to 1.758 billion yuan, and net profit increased by 1793.89% to 74 million yuan [6] Acquisition Strategy - In 2018, the company made a significant move by acquiring assets from MACOM Japan for $27.48 million to enter the high-speed optical module market, despite internal disagreements [7][8] - A second acquisition in 2019 involved spending $41.6 million on Oclaro Japan's assets to gain access to 400G optical module technology [7][8] - The acquisitions were aimed at transitioning from low-end to high-end optical modules, with a focus on 400G/800G silicon optical products [8] Financial Performance - By 2024, the company's revenue from high-speed optical components and modules reached 492 million yuan, accounting for 13.46% of total revenue [8] - In the first half of 2025, the company continued its growth trend, with revenue increasing by 15.48% to 2.035 billion yuan and net profit rising by 51.12% to 121 million yuan [8] Future Prospects - The ongoing Hong Kong IPO is seen as a new starting point for both Huang Gang and Cambridge Technology, expected to enhance financing channels and international brand image [2][9]

Group 1 - The core viewpoint of the article is that Shanghai Cambridge Technology Co., Ltd. is preparing for its IPO on the Hong Kong Stock Exchange, with significant revenue fluctuations and high dependency on major clients and overseas markets posing risks to its revenue stability [1][2] Group 2 - Cambridge Technology primarily engages in the design, development, and sales of connectivity and data transmission devices, generating revenue from broadband, wireless, and optical module technology products [1] - The company's revenue declined in 2023 due to an industry-wide destocking cycle and sluggish demand, but is projected to rebound to 3.65 billion yuan in 2024 due to deferred demand release and strong sales [1] - In the first half of this year, the company's revenue exceeded 2 billion yuan, reflecting a year-on-year growth of 15.48% [1] Group 3 - The company has a high reliance on major clients, with the revenue share from the top five clients increasing from 63.5% in 2022 to 76.1% in 2024, indicating a significant concentration risk compared to industry peers [1] - The overseas market has become increasingly important, with its revenue share rising from 82.9% in 2022 to 94% in the first half of this year [1] Group 4 - Shareholders of Cambridge Technology have been frequently reducing their holdings, raising concerns among investors, particularly the actual controller, who has sold over 400 million yuan since the end of 2022 [2]

Core Viewpoint - Cambridge Technology's Hong Kong IPO application has been approved by the Hong Kong Stock Exchange, indicating a significant step for the company in expanding its market presence [1][2]. Group 1: Company Overview - Cambridge Technology primarily engages in the design, development, and sales of connectivity and data transmission devices, generating revenue through broadband, wireless, and optical module technology products [2][3]. - As of 2024, Cambridge Technology ranks fifth in the global integrated optical and wireless connectivity equipment industry, holding a market share of 4.1% [1][2]. Group 2: Financial Performance - The company's revenue has fluctuated in line with industry trends, experiencing a decline in 2023 due to an industry-wide destocking cycle and sluggish demand. However, revenue is projected to rebound to 3.65 billion yuan in 2024, driven by the release of deferred demand and strong sales [2]. - In the first half of this year, the company's revenue exceeded 2 billion yuan, reflecting a year-on-year growth of 15.48% [2]. Group 3: Market Presence - A significant portion of Cambridge Technology's revenue is derived from overseas markets, with international sales accounting for 82.9%, 89.3%, 92.6%, and 94% of total revenue from 2022 to 2024 and the first half of this year, respectively [3]. - The company has established a joint headquarters in the United States and has overseas R&D centers in the U.S. and Japan, as well as sales offices in the U.S. and Italy, and manufacturing bases in the U.S., Germany, and Malaysia [3]. Group 4: Future Outlook - Cambridge Technology plans to implement several overseas business strategies, including recruiting international talent, optimizing overseas production capacity, and expanding its overseas sales network [4].

Core Viewpoint - Cambridge Technology is set to list on the Hong Kong Stock Exchange, with a strong global market position in the optical and wireless connectivity device industry, ranking fifth with a market share of 4.1% in 2024 [1][3]. Company Overview - Cambridge Technology specializes in the design, development, and sales of connectivity and data transmission devices, generating significant revenue from broadband, wireless, and optical module technology products [3]. - The company is one of the few globally that offers all three types of technology products, with overseas market revenue accounting for 82.9% to 94.0% of total revenue during the historical record period [3][4]. - The company has established a joint headquarters in the United States and has R&D centers in the U.S. and Japan, along with manufacturing bases in the U.S., Germany, and Malaysia [3]. Product and Technology - Cambridge Technology's optical module product range includes interconnect speeds of 100G, 400G, 800G, and 1.6T, compatible with various industry-standard packaging formats [3]. - The company is among the first to deploy 800G and 1.6T optical module products and is conducting pioneering research in silicon photonic modules to achieve high transmission rates at low costs [3]. - The company is advancing linear pluggable optical device (LPO) technology, which is characterized by low power consumption, low latency, and high performance, making it suitable for AI models and data centers [3][4]. - Cambridge Technology is also working on co-packaged optics (CPO) technology, integrating network and optical engine into a single slot, ideal for AI training and inference [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company's revenues were approximately RMB 3.78 billion, RMB 3.08 billion, RMB 3.65 billion, and RMB 2.03 billion, respectively [4][5]. - The net profits for the same periods were approximately RMB 171 million, RMB 94.97 million, RMB 167 million, and RMB 117.55 million, respectively [4][5]. - The gross profit margins for the years 2022, 2023, 2024, and 2025 were 18.2%, 21.5%, 20.9%, and 21.9%, respectively, indicating a stable profitability trend [5].

Core Viewpoint - Cambridge Technology has successfully completed its listing hearing on the Hong Kong Stock Exchange, with Guotai Junan International serving as its sole sponsor. The company is ranked fifth globally in the Optical and Wireless Connectivity Devices (OWCD) industry, with a market share of 4.1% as of 2024 [1]. Company Overview - Cambridge Technology primarily engages in the design, development, and sales of connectivity and data transmission devices, generating revenue mainly from broadband, wireless, and optical module technology products. It is one of the few companies globally that offers all three types of technology products [3]. - The company has established a joint headquarters in the United States and has overseas R&D centers in the U.S. and Japan, as well as sales offices in the U.S. and Italy. Manufacturing bases are located in the U.S., Germany, and Malaysia [3]. Product Portfolio - In the optical module segment, Cambridge Technology's product range includes interconnect speeds of 100G, 400G, 800G, and 1.6T, compatible with various industry-standard packaging formats. The company is among the first to deploy 800G and 1.6T optical module products [3]. - The company is advancing Linear Pluggable Optical Devices (LPO) technology, which offers low power consumption, low latency, and high performance, making it ideal for AI models and data centers. Additionally, it is developing immersion liquid cooling optical electronic devices to enhance server efficiency and thermal management [3]. Technological Innovations - Cambridge Technology is working on Co-Packaged Optics (CPO) technology, which integrates the optical engine and network into a single slot, significantly reducing signal transmission distance and latency, making it suitable for AI training and inference [4]. Financial Performance - For the six months ending June 30, the company's revenues for 2022, 2023, 2024, and 2025 are approximately 3.784 billion, 3.085 billion, 3.649 billion, and 2.034 billion RMB, respectively. The corresponding profits for the same periods are approximately 171 million, 95 million, 167 million, and 118 million RMB [4][5]. - The gross profit margins for the years show a slight fluctuation, with margins of 18.2%, 21.5%, 20.9%, and 21.8% for the respective years [5].

Core Viewpoint - Cambridge Technology is set to list on the Hong Kong Stock Exchange, with a strong global market position in the optical and wireless connectivity device industry, ranking fifth with a market share of 4.1% in 2024 [1][3]. Company Overview - Cambridge Technology primarily engages in the design, development, and sales of connectivity and data transmission devices, generating significant revenue from broadband, wireless, and optical module technology products [3]. - The company is one of the few globally that offers all three types of technology products, with overseas market revenue accounting for 82.9%, 89.3%, 92.6%, and 94.0% of total revenue during the past reporting periods [3]. Product and Technology Development - The product portfolio includes optical modules with interconnect speeds of 100G, 400G, 800G, and 1.6T, adhering to various industry standards [3]. - The company is a pioneer in deploying 800G and 1.6T optical module products and is advancing linear pluggable optical device (LPO) technology, which is ideal for AI models and data centers due to its low power consumption and high performance [3][4]. - Cambridge Technology is also working on co-packaged optics (CPO) technology, integrating network and optical engine into a single slot, which is beneficial for AI training and inference [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company's revenues were approximately RMB 3.78 billion, RMB 3.08 billion, RMB 3.65 billion, and RMB 2.03 billion, respectively [4][5]. - The corresponding profits for the same periods were approximately RMB 171 million, RMB 94.97 million, RMB 167 million, and RMB 117.55 million [4][5].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603083 证券简称：剑桥科技 公告编号：临2025-060 上海剑桥科技股份有限公司 关于香港联交所审议公司发行境外 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 上海剑桥科技股份有限公司（以下简称"公司"）正在进行申请发行境外上市外资股（H股）股票并在香 港联合交易所有限公司（以下简称"香港联交所"）主板挂牌上市（以下简称"本次发行上市"）的相关工 作。香港联交所上市委员会于2025年10月9日举行上市聆讯，审议公司本次发行上市的申请。 公司本次发行上市的独家保荐人已于2025年10月2日收到香港联交所向其发出的信函，其中指出香港联 交所上市委员会已审阅公司的上市申请，但该信函不构成正式的上市批准，香港联交所仍有对公司的上 市申请提出进一步意见的权力。 公司本次发行上市尚需取得香港证券及期货事务监察委员会和香港联交所等相关监管机构、证券交易所 的最终批准，该事项仍存在不确定性。公司将根据该事项的进展情况依法及时履行信息披露义务，敬请 广大投资者注意投资风险。 ...

格隆汇10月10日丨剑桥科技(603083.SH)公布，公司正在进行申请发行境外上市外资股(H股)股票并在香 港联合交易所有限公司(以下简称"香港联交所")主板挂牌上市(以下简称"本次发行上市")的相关工作。 香港联交所上市委员会于2025年10月9日举行上市聆讯，审议公司本次发行上市的申请。 公司本次发行上市的独家保荐人已于2025年10月2日收到香港联交所向其发出的信函，其中指出香港联 交所上市委员会已审阅公司的上市申请，但该信函不构成正式的上市批准，香港联交所仍有对公司的上 市申请提出进一步意见的权力。 ...

剑桥科技（603083）(603083.SH)发布公告，公司正在进行申请发行境外上市外资股(H股)股票并在香港 联合交易所有限公司(简称"香港联交所")主板挂牌上市的相关工作。香港联交所上市委员会于2025年10 月9日举行上市聆讯，审议公司本次发行上市的申请。公司本次发行上市的独家保荐人已于2025年10月2 日收到香港联交所向其发出的信函，其中指出香港联交所上市委员会已审阅公司的上市申请，但该信函 不构成正式的上市批准，香港联交所仍有对公司的上市申请提出进一步意见的权力。 ...