纳真科技冲刺港股IPO：上半年扭亏为盈，近八成收入来自销售光模块

Core Viewpoint - Nazhen Technology has submitted its prospectus to the Hong Kong Stock Exchange, positioning itself as a leading provider of optical communication and connection solutions, particularly for AI computing networks [3]. Financial Performance - Nazhen Technology's revenue for the years 2022 to 2024 was reported as 5.043 billion RMB, 4.239 billion RMB, and 5.087 billion RMB, respectively, with net profits of 429 million RMB, 216 million RMB, and 89.49 million RMB [5]. - In the first half of 2025, the company achieved a revenue of 4.216 billion RMB, representing a 124% year-on-year increase, and a net profit of 510 million RMB, marking a turnaround from previous losses [3][5]. Market Position - According to Frost & Sullivan, Nazhen Technology ranks fifth globally among all specialized optical module manufacturers by revenue in 2024, and third in China [3]. - The majority of the company's revenue during the reporting period came from optical module sales, accounting for 64.9%, 64.6%, 72.4%, and 77.9% of total revenue for the years 2022, 2023, 2024, and the first half of 2025, respectively [5][6]. Product Line Revenue - Revenue from optical modules, particularly from data communication solutions, saw significant growth from 2023 to 2024, driven by increased market demand for optical modules related to AI and cloud computing applications [6][7]. - The breakdown of revenue by product line shows that optical modules contributed significantly, with data communication solutions accounting for 54.6% of total revenue in 2024 [7].