2025 年 9 月 30 日，公司收到中国证券监督管理委员会（以下简称"中国证 监会"）出具的《关于上海剑桥科技股份有限公司境外发行上市备案通知书》（国 合函〔2025〕1682 号），中国证监会对公司本次发行上市备案信息予以确认。 具体内容详见公司于 2025 年 10 月 1 日在上海证券交易所网站（www.sse.com.cn） 及指定媒体披露的《关于发行境外上市股份（H 股）获得中国证监会备案的公告》 （公告编号：临 2025-059）。 2025 年 10 月 9 日，香港联交所上市委员会举行上市聆讯，审议了公司本次 发行上市的申请。具体内容详见公司于 2025 年 10 月 11 日在上海证券交易所网 站（www.sse.com.cn）及指定媒体披露的《关于香港联交所审议公司发行境外上 市外资股（H 股）的公告》（公告编号：临 2025-060）。 根据本次发行上市的时间安排，公司按照有关规定在香港联交所网站刊登本 次发行聆讯后资料集，该聆讯后资料集为公司根据香港联交所、香港证券及期货 事务监察委员会的要求而刊发，刊发目的仅为提供资讯予香港公众人士和合资格 的投资者，除此之外并无任何其他目的。同 ...

证券代码：603083 证券简称：剑桥科技 公告编号：临 2025-062 上海剑桥科技股份有限公司 第五届董事会第十九次会议决议公告 特别提示 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"）于 2025 年 10 月 4 日向全 体董事书面发出关于召开公司第五届董事会第十九次会议的通知，并于 2025 年 10 月 13 日以通讯表决方式召开了本次会议。本次会议由董事长 Gerald G Wong 先生召集，应参会董事 7 名，实际参会董事 7 名。会议的召集、召开和表决程序 符合《公司法》《公司章程》及其他相关法律、法规和规范性文件的规定。全体 董事一致审议通过如下议案并形成决议： 一、审议通过关于确定 H 股全球发售及香港联合交易所有限公司上市相关 事宜的议案 公司于同日召开的第五届董事会战略与 ESG 委员会第六次会议审议通过 《关于确定 H 股全球发售及香港联合交易所有限公司上市相关事宜的议案》，全 体委员一致同意本议案。 二、审议通过关于变更聘任公司秘书生效日期的议案 ...

Group 1 - Cambridge Technology (SH 603083) announced on October 13 that its 19th meeting of the fifth board of directors was held via telecommunication voting, discussing the proposal to change the effective date of the company secretary's appointment [1] - For the year 2024, the revenue composition of Cambridge Technology is 99.94% from the manufacturing of computers, communications, and other electronic devices [1] - As of the report date, the market capitalization of Cambridge Technology is 28.9 billion yuan [1]

Core Viewpoint - Cambridge Technology Co., Ltd. is preparing for an IPO in Hong Kong, with the aim of raising funds for capacity enhancement, R&D, marketing, overseas investments, and general corporate purposes [1][2]. Group 1: IPO Details - The company has submitted its hearing materials for the IPO and is being exclusively sponsored by Guotai Junan Securities [1]. - The funds raised from the IPO will be allocated to various purposes, including increasing production capacity for optical modules, broadband, and wireless products [1]. Group 2: Business Overview - Cambridge Technology specializes in the design, development, and sales of connectivity and data transmission devices, covering broadband, wireless, and optical module technologies [2]. - The company has significant output in XGS PON products and leads in 25GPON and 50GPON technologies, with innovative research in silicon photonic modules [2]. - The company has a global presence, serving clients in 52 countries and regions [2].

Core Viewpoint - Cambridge Technology has passed the main board listing hearing of the Hong Kong Stock Exchange, with Guotai Junan International as its sole sponsor [2] Group 1: Company Overview - As of 2024, Cambridge Technology ranks fifth in the global Optical and Wireless Connectivity Devices (OWCD) industry by sales revenue, holding a market share of 4.1% [2] - The company is primarily engaged in the design, development, and sales of connectivity and data transmission devices, covering broadband, wireless, and optical module technologies [2] Group 2: Technological Advancements - Cambridge Technology is one of the first companies globally to deploy 800G and 1.6T optical module products [2] - The company is actively involved in research and development of silicon photonic modules, Linear Pluggable Optical Devices (LPO), immersion liquid cooling optoelectronic devices, and Co-Packaged Optics (CPO) technology [2]

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].