Market Overview - On June 6, the Shanghai Composite Index rose by 0.04%, while the Shenzhen Component Index fell by 0.19%, and the ChiNext Index decreased by 0.45% [2] - A total of 54 stocks appeared on the daily trading list due to unusual trading activity, with the highest net inflow of funds into China Electric Power Xinlong (002298.SZ) amounting to 236 million yuan [2] Stock Performance - China Electric Power Xinlong saw a closing price increase of 9.96% with a turnover rate of 19.42%, while Snowman Co., Ltd. (002639.SZ) experienced a net outflow of 210 million yuan and closed down by 1.23% with a turnover rate of 46.27% [2] - Among the 54 stocks, 34 were net bought, and 20 were net sold, indicating a general preference for buying [2] Institutional Activity - On June 6, 26 stocks on the trading list had institutional participation, with a total net purchase of 439 million yuan, where institutions net bought 16 stocks and net sold 10 stocks [2] - The stock with the highest institutional net purchase was Xiongdi Technology (300546.SZ), which closed down by 10.56% with a turnover rate of 47.82% [3] Northbound Capital - Northbound capital participated in 16 stocks on the trading list, with a total net purchase of 304 million yuan, including a net purchase of 54.65 million yuan from the Shanghai Stock Connect and 249 million yuan from the Shenzhen Stock Connect [6] - The stock with the highest net purchase from northbound capital was Changshan Pharmaceutical (300255.SZ), amounting to 202 million yuan, while Snowman Co., Ltd. had the highest net sell of 107 million yuan [6] Common Trends - Both institutions and northbound capital collectively net bought stocks such as Changshan Pharmaceutical, Hailian Jinhui, Hengbao Co., Ltd., Haoshanghao, Maiwei Biotechnology, and Hunan Development [7] - There was a divergence in the trading of Cambridge Technology (603083.SH) and Zhongchong Co., Ltd., with institutions net buying Zhongchong Co., Ltd. while northbound capital net sold it [7]

Core Viewpoint - The announcement from Shanghai Cambridge Technology Co., Ltd. addresses the abnormal fluctuations in its A-share stock price, confirming that there are no undisclosed significant matters affecting the company or its stock price [1][2]. Group 1: Stock Trading Abnormalities - The company's A-share stock experienced a cumulative price deviation of 20% in June 2025, which is classified as an abnormal trading situation according to the Shanghai Stock Exchange rules [1]. - The company has verified with its controlling shareholder and actual controller that there are no undisclosed significant matters that could impact the stock price [2]. Group 2: Operational Status - The company's daily operations have not undergone significant changes, and there have been no major adjustments in the market environment or industry policies affecting its production costs and sales [2]. - There are no major asset restructuring, share issuance, or other significant transactions currently planned that could impact the company [2]. Group 3: Market Sentiment and Media Reports - The company conducted a self-examination and found no media reports or market rumors that significantly influenced its stock price [2]. - There are no hot concept matters related to the company that could affect trading prices [2]. Group 4: Other Sensitive Information - As of the announcement date, there are no other significant matters affecting the stock price fluctuations, and no insider trading has occurred among directors, supervisors, or major shareholders during the abnormal trading period [3]. - The company has disclosed a plan for its controlling shareholder to reduce holdings by up to 8,041,254 shares, representing 3.00% of total shares, which is currently in the implementation phase [4]. Group 5: Future Listings and Regulatory Approvals - The company has submitted an application for issuing overseas listed foreign shares (H shares) to the Hong Kong Stock Exchange, which is still subject to approval from various regulatory bodies [5]. - The company will fulfill its information disclosure obligations based on the progress of this matter [5].

Core Points - Shanghai Cambridge Technology Co., Ltd. is holding its first extraordinary general meeting of shareholders in 2025 to discuss significant governance changes, including a reduction in registered capital and the cancellation of the supervisory board [1][4][5]. Group 1: Capital Reduction - The company plans to reduce its registered capital by 22,000 yuan due to the repurchase and cancellation of 22,000 shares from nine individuals who no longer meet the conditions of the restricted stock incentive plan [4][5]. - After the capital reduction, the registered capital will change from 268,041,841 yuan to 268,019,841 yuan [4][5]. Group 2: Cancellation of Supervisory Board - The supervisory board will be abolished, with its responsibilities transferred to the audit committee of the board of directors, which will oversee financial supervision and compliance [5][7]. - The audit committee will consist of three directors, with a majority being independent directors, responsible for reviewing financial information and supervising internal controls [5][7]. Group 3: Amendments to Articles of Association - The amendments to the Articles of Association will reflect the new registered capital and the removal of references to the supervisory board, clarifying the audit committee's responsibilities [5][7]. - The threshold for shareholders to propose temporary motions will be reduced from 3% to 1% of shares held [7]. Group 4: Meeting Procedures - The extraordinary general meeting will include three main proposals for voting, and the voting will be conducted by a designated lawyer and representatives [2][6]. - Shareholders will have the right to speak and ask questions, with a limit on the number of speakers and the duration of their speeches [2][6].

上海剑桥科技股份有限公司 2025 年第一次临时股东大会文件 二○二五年六月十六日 上海剑桥科技股份有限公司 2025年第一次临时股东大会文件 目 录 | 2025 年第一次临时股东大会须知 2 | | --- | | 年第一次临时股东大会议程 3 2025 | | 关于减少注册资本、取消监事会并修订现行《公司章程》及相关治理制度的议案 4 | | 关于取消监事会并修订公司发行境外上市股份后适用的《公司章程》及相关治理制 | | 度的议案 73 | | 关于公司发行境外上市股份后第五届董事会董事薪酬标准的议案 128 | 1 上海剑桥科技股份有限公司 2025年第一次临时股东大会文件 上海剑桥科技股份有限公司 2025 年第一次临时股东大会须知 为维护广大投资者的合法权益，确保本次股东大会能够依法行使职权，根据 《公司法》、中国证监会发布的《上市公司股东大会规则》等法律、法规和《公 司章程》的规定，特制定本次股东大会会议须知如下： 九、本次大会由德恒上海律师事务所指派律师见证。 十、在大会过程中若发生意外情况，公司董事会有权做出应急处理，以保护 公司和全体股东利益。 十一、为保持会场安静和整洁，请将移动电话调 ...

证券代码：603083 证券简称：剑桥科技 公告编号：临 2025-036 上海剑桥科技股份有限公司 股票交易异常波动公告 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。 重要内容提示： 上海剑桥科技股份有限公司（以下简称"公司"）A 股股票于 2025 年 6 月 4 日、6 月 5 日和 6 月 6 日连续三个交易日内日收盘价格涨幅偏离值累计达 到 20%。根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波 动的情况。 经向本公司控股股东 Cambridge Industries Company Limited（以下简称 "CIG 开曼"）、实际控制人 Gerald G Wong 先生及其一致行动人赵海波先生书 面征询核实，截至目前，控股股东、实际控制人及其一致行动人不存在涉及公 司的应披露而未披露的重大信息，不存在可能对公司股价形成重大影响的敏感 事项。 公司敬请广大投资者关注本公告正文第三部分提示的相关风险，理性决 策，审慎投资。 一、股票交易异常波动的具体情况 公司 A 股股票（证券代码：6030 ...

截至本函件出具日，本公司作为贵公司控股股东，不存在涉及贵公司的应披 露而未披露的重大信息，不存在可能对贵公司股价形成重大影响的敏感事项，包 括但不限于正在筹划涉及贵公司的重大资产重组、股份发行、重大交易类事项、 业务重组、股份回购、股权激励、破产重整、重大业务合作、引进战略投资者等 重大事项。 本公司将严格按照有关法律、法规和规范性文件的规定，协助贵公司及时履 行信息披露义务。 特此函复。 上海剑桥科技股份有限公司控股股东 关于股票交易异常波动问询函的复函 上海剑桥科技股份有限公司： 贵公司《关于股票交易异常波动的问询函》已收悉。经本公司核实，现就贵 公司问询事宜答复如下： 本人将严格按照有关法律、法规和规范性文件的规定，协助贵公司及时履行 信息披露义务。 特此函复。 Gerald G Wong 2025 年 6 月 6 日 Cambridge Industries Company Limited 2025 年 6 月 6 日 上海剑桥科技股份有限公司实际控制人 关于股票交易异常波动问询函的复函 上海剑桥科技股份有限公司： 贵公司《关于股票交易异常波动的问询函》已收悉。经本人核实，现就贵公 司问询事宜答复如下 ...

Group 1 - The core point of the article is that Cambridge Technology (603083.SH) announced a plan for its major shareholders to reduce their holdings, which is currently in the implementation phase [1] - The controlling shareholder CIG Cayman and its concerted party Shanghai Kangling Technology Partnership (Limited Partnership) plan to reduce their shares by a total of up to 8.0413 million shares, accounting for 3.00% of the company's total shares [1]

Summary of Cambridge Technology Conference Call Company Overview - **Company**: Cambridge Technology - **Industry**: Optical Modules and AI Technology Key Points and Arguments Industry and Market Dynamics - Cambridge Technology expects to ship over **1.2 million optical modules** in 2025, with **800G modules** accounting for half of the total shipments [2] - The demand for **800G optical modules** is driven by the rapid growth of the global AI industry, particularly from North American CSPs like Amazon, Meta, and Microsoft [2][6] - The **800G market** is anticipated to grow significantly, potentially outpacing the growth of NVIDIA's GPU market, presenting opportunities for Cambridge Technology [2][6] Business Strategy and Partnerships - Cambridge Technology has a deep partnership with **Cisco**, utilizing a **Joint Development Model (JDM)** for optical modules, which enhances collaboration in product design and development [7][8] - The company plans to use **50% of its IPO proceeds** for capacity expansion and **20% for R&D** [12] - The current monthly production capacity is approximately **200,000 optical modules**, with a target of **3 million modules** for the next year [2][11] Financial Performance and Projections - In 2024, the company reported revenues of approximately **3.6 billion to 3.7 billion yuan**, with optical module business contributing around **500 million yuan** [3] - The expected revenue from optical modules is projected to increase significantly in 2025 and 2026, with a potential total revenue of **7 billion yuan** in 2026 [23][52] - The gross margin is expected to remain stable or slightly increase, despite anticipated long-term price declines for optical modules [19][20] Production and Capacity Expansion - The company is expanding its production capabilities, with plans to reach a monthly capacity of **200,000 modules by the end of this year** and **300,000 modules next year** [11][17][50] - The production of **800G optical modules** primarily utilizes silicon photonics technology, with prices around **$400 to $500 per unit** [18][45] Customer Base and Demand Forecast - Major customers include **Cisco, Microsoft, Oracle, and Tesla**, with significant demand expected from these clients [9][42] - The demand for **800G modules** is projected to increase sharply, with Cisco's forecast indicating that **50% of its 800G demand** will be supplied by Cambridge Technology [42] Future Outlook - The company is optimistic about its future growth, driven by the increasing demand for optical modules from major cloud service providers and the expansion of its product offerings [53] - Cambridge Technology is preparing for its IPO in Hong Kong, aiming to become a leading player in the AI computing communication sector [48] Additional Insights - The company has a strong focus on R&D, particularly in new technologies like **25G PON, 50G PON, and WiFi 7**, to maintain competitiveness [4][32] - Cambridge Technology is actively engaging with new clients and exploring collaborative opportunities beyond traditional supply relationships [29][41] This summary encapsulates the key insights from the conference call, highlighting the company's strategic direction, market opportunities, and financial outlook.

Market Overview - A-shares experienced a rally in the afternoon, with the ChiNext Index and the STAR Market Index both rising over 1% [1] - The Shanghai Composite Index closed up 0.23% at 3384.1 points, while the Shenzhen Component Index rose 0.58% to 10203.5 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 13.172 billion yuan, an increase of nearly 1.4 billion yuan compared to the previous day [1] Sector Performance - The food and beverage sector saw a pullback, with Yanjinpuzi dropping over 8% [1] - Pharmaceutical stocks also weakened, with Jinkai Biotechnology down nearly 10% and Sinovac Biotech falling over 8% [1] - The CPO concept stocks surged, with Shengyi Electronics and Haide Control hitting the daily limit [3][4] - The computing power concept stocks were strong, with Huijin Co. and Qingyun Technology also reaching the daily limit [1][3] - The virtual power plant concept gained traction, with Hengshi Technology and Ankao Zhidian both hitting the daily limit [7][8] - The sports concept remained active, with Jinling Sports achieving a three-day limit increase and Gongchuang Lawn hitting the limit for four consecutive days [9][10] CPO Concept - The CPO concept saw significant gains, with Shengyi Electronics closing at a 20% limit increase [3][4] - Other notable performers included Shijia Photon and Haide Control, both reaching their daily limits [3][4] Virtual Power Plant Concept - The virtual power plant concept also experienced a strong performance, with Hengshi Technology closing at a 20% limit increase [7][8] - Other companies in this sector, such as Ankao Zhidian and Jinzhi Technology, also saw substantial gains [7][8] Sports Sector - The sports sector showed continued strength, with Jinling Sports achieving a 20% limit increase and a cumulative increase of approximately 94% over four days [9][10] - The Jiangsu Province City Football League attracted significant attendance, boosting local tourism and consumption [11] Policy Developments - The National Energy Administration has initiated pilot projects focusing on new power system construction, including virtual power plants and intelligent microgrids [8][9] - The National Development and Reform Commission and the Energy Administration have introduced policies to promote green electricity connections, enhancing the traceability of renewable energy consumption [9]

Report Overview - Report Title: Nanhua Futures Tin Risk Management Report - Date: June 5, 2025 - Research Team: Nanhua Non - ferrous Metals Research Team [1] Investment Rating - No investment rating for the industry is provided in the report. Core Viewpoints - The price of tin is affected by multiple factors, including the expected and actual production of Burmese tin mines, tariff policies, and the development cycle of the semiconductor sector. There are both bullish and bearish factors, and the market situation is complex [3][5][7] Summary by Directory 1. Price and Volatility - The latest closing price of tin is 257,940 yuan/ton, with a monthly price range forecast of 245,000 - 263,000 yuan/ton. The current volatility is 21.41%, and the historical percentile of the current volatility is 57.0% [2] - In the daily tin futures盘面 data, the prices of Shanghai Tin Main, Shanghai Tin Continuous One, and Shanghai Tin Continuous Three remain unchanged, with a daily change of 0 yuan and a daily change rate of 0%. The price of LME Tin 3M is 31,450 US dollars/ton, with a daily increase of 905 US dollars and a daily increase rate of 2.96%. The Shanghai - London ratio is 8.2, with a decrease of 0.12 and a decrease rate of 1.44% [6] 2. Risk Management Suggestions Inventory Management - When the finished product inventory is high and there are concerns about price drops (long spot exposure), it is recommended to short the Shanghai Tin main futures contract at around 290,000 yuan/ton with a hedging ratio of 100%, and sell the call option SN2507C275000 at around 2,000 yuan with a hedging ratio of 25% [2] Raw Material Management - When the raw material inventory is low and there are concerns about price increases (short spot exposure), it is recommended to long the Shanghai Tin main futures contract at around 230,000 yuan/ton with a hedging ratio of 50%, and sell the put option SN2507P245000 at around 2,000 yuan with a hedging ratio of 25% [2] 3. News and Influencing Factors Bullish Factors - Sino - US tariff policy easing, the semiconductor sector still being in the expansion cycle, and the actual production of Burmese tin mine复产 being lower than expected [7] Bearish Factors - Repeated tariff policies, Burmese tin mine复产, and the slowdown of the expansion speed of the semiconductor sector, which is gradually moving from the expansion cycle to the contraction cycle [5][6] 4. Spot Data - In the weekly tin spot data, the price of Shanghai Non - ferrous tin ingots is 255,500 yuan/ton, with a weekly decrease of 9,300 yuan and a weekly decrease rate of 3.51%. The 1 tin premium is 1,000 yuan/ton, with a weekly increase of 600 yuan and a weekly increase rate of 150%. The prices of 40% and 60% tin concentrates and various types of solder bars also show different degrees of decline [10][13] 5. Import and Processing Data - The latest value of tin import profit and loss is - 9,469.37 yuan/ton, with a daily increase of 1,123.15 yuan and an increase rate of 13.46%. The processing fees for 40% and 60% tin ore remain unchanged [15] 6. Inventory Data - In the daily tin inventory data, the total warehouse receipt quantity of tin on the Shanghai Futures Exchange is 7,228 tons, with a daily decrease of 292 tons and a decrease rate of 3.88%. The LME tin inventory remains unchanged at 2,605 tons [19]