CIG(SH:603083) Zhong Guo Zheng Quan Bao·2025-10-13 12:02Core Viewpoint - Cambridge Technology is preparing for an IPO in Hong Kong, focusing on its strong overseas revenue and growth potential in the optical and wireless connection equipment market [1][2]. Group 1: Company Overview - Cambridge Technology primarily engages in the design, development, and sales of connectivity and data transmission devices [1]. - The company was listed on the Shanghai Stock Exchange in November 2017 and is one of the few global providers of broadband, wireless, and optical module technology products [2]. - As of 2024, the company ranks fifth globally in the optical and wireless connection equipment industry, holding a market share of 4.1% [2]. Group 2: Financial Performance - The company reported revenues of approximately CNY 3.784 billion, CNY 3.085 billion, CNY 3.65 billion, and CNY 2.034 billion for the years 2022, 2023, 2024, and the first half of 2025, respectively [2]. - Net profits for the same periods were approximately CNY 171 million, CNY 94.965 million, CNY 167 million, and CNY 118 million [2]. Group 3: Revenue Sources - Revenue from overseas markets constituted 82.9%, 89.3%, 92.6%, and 94.0% of total revenue for the years 2022, 2023, 2024, and the first half of 2025, respectively [4]. - The top five customers generated revenues of approximately CNY 2.399 billion, CNY 2.123 billion, CNY 2.738 billion, and CNY 1.678 billion, accounting for 63.5%, 68.8%, 74.9%, and 82.5% of total revenue [4]. Group 4: Product and Market Strategy - The company plans to use the funds raised from the IPO to enhance production capacity, focusing on 800G/1.6T optical module products, 50G/25GPON broadband products, and Wi-Fi 7 and Wi-Fi 8 wireless products [3]. - Cambridge Technology aims to recruit international talent, optimize overseas production capacity, and expand its overseas sales network as part of its future strategies [5].