Core Insights - The global AI industry is entering a trillion-parameter era, leading to a significant restructuring of data center architectures, with increased port scale and east-west data traffic, resulting in rapid expansion investments [1] - The demand for optical modules, crucial for data center interconnections, is expected to grow due to the rising need for high-speed data transmission driven by AI training clusters [1] - TrendForce reports a rapid increase in global optical transceiver shipments from 2023 to 2025, reflecting ongoing market demand expansion [1] Company Performance - Eight Chinese optical module listed companies reported their 2024 performance, with revenue exceeding 100 billion yuan for two companies: Zhongji Xuchuang at 238.62 billion yuan and Huagong Technology at 117.09 billion yuan [4][5] - Zhongji Xuchuang and Xinyi Sheng demonstrated exceptional growth, with revenue increases of 122.64% and 179.15%, respectively [4][5] Market Dynamics - Chinese manufacturers have captured 35% of the global 800G market by the end of 2024, a 12 percentage point increase from 2022, driven by high R&D investments [5] - The average overseas revenue share for the eight listed companies rose to 42% in 2024, with North America contributing over 60% of the growth [9][10] Technological Advancements - Innovations such as silicon photonic integration and liquid cooling packaging have significantly improved the performance and energy efficiency of optical modules [7][8] - The technology iteration cycle for optical modules is expected to shorten from 3-5 years to 18 months, with new products like 1.6T modules entering engineering validation [8] Financial Metrics - The average net profit margin for the mentioned companies increased to 18.7% in 2024, with operating cash flow net amount rising by 40% [7] - The average price-to-earnings ratio for the optical module sector in A-shares increased from 25 times to 40 times, indicating a revaluation of market value [8] Competitive Landscape - Seven Chinese manufacturers are now among the top 10 global optical module suppliers, highlighting the dominance of Chinese firms in the market [7] - Companies like Zhongji Xuchuang and Xinyi Sheng are focusing on high-speed Ethernet optical modules, which are currently the fastest-growing segment [6][7]

Group 1 - Cambridge Technology (603083) saw a stock price increase of 7.84% with a turnover rate of 26.54% and a trading volume of 3.115 billion yuan, indicating significant market activity [2] - Institutional investors net sold 29.56 million yuan, while the Shanghai-Hong Kong Stock Connect recorded a net purchase of 64.94 million yuan, reflecting mixed investor sentiment [2] - The top five trading departments accounted for a total transaction volume of 726 million yuan, with a net purchase of 11.5 million yuan [2] Group 2 - The latest margin trading data shows a total margin balance of 820 million yuan, with a financing balance of 817 million yuan and a securities lending balance of 3.44 million yuan, indicating a healthy level of leverage [3] - Over the past five days, the financing balance increased by 77.89 million yuan, representing a growth of 10.54% [3] - The company's Q1 report revealed a revenue of 894 million yuan, a year-on-year increase of 5.18%, and a net profit of 31.43 million yuan, up 21.11% year-on-year [3]

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.