CIG(SH:603083) Zheng Quan Shi Bao Wang·2025-10-20 02:23Core Viewpoint - Cambridge Technology (603083.SH) has officially launched its IPO process in Hong Kong, aiming to raise up to $682 million, potentially becoming the largest IPO in the communication equipment sector in both A-share and Hong Kong markets [1] Group 1: IPO Details - The company plans to issue 67.01 million H-shares at a maximum price of HKD 68.88 per share, with total fundraising potentially reaching up to $682 million if the over-allotment option is fully exercised [1] - The IPO is expected to be listed on the Hong Kong Stock Exchange on October 28, with the stock code "6166.HK" [1] - The fundraising amount for the Hong Kong IPO is projected to be close to RMB 5 billion, which is over 13 times the RMB 368 million raised during its A-share listing in 2017 [1] Group 2: Investor Participation - Cambridge Technology has attracted a prestigious lineup of cornerstone investors, including Barings, MSIP, and several other prominent funds, with a total subscription amount of $290 million, accounting for 48.89% of the offering [2][4] - The diverse and international nature of the cornerstone investors is noted as rare in the industry, indicating strong confidence in the company's long-term prospects [4] Group 3: Technological Innovation - The company is recognized as a leading provider of efficient connectivity solutions in optical communication, broadband, and wireless technology, driven by technological innovation [5] - Key technological advancements include the development of the second-generation 1.6T OSFP DR8 optical module and multiple 800G OSFP silicon photonic modules, which are currently undergoing customer testing [5][6] Group 4: Production Expansion Strategy - To address global economic and trade challenges, the company is implementing a "multi-localization" strategy, shifting production of products destined for the U.S. to Malaysia and enhancing production capabilities in Germany and the U.S. [7] - The company aims to increase the production capacity of its 800G high-speed optical modules, with plans to reach an annual capacity of 2 million units by the end of this year [7] Group 5: Fund Utilization - The funds raised from the H-share listing will primarily be used to enhance R&D investment, expand production capacity, and explore global markets, thereby strengthening the company's competitiveness in core product areas [8] - The company reported a net profit of RMB 121 million for the first half of 2025, a year-on-year increase of 51.12%, indicating strong financial performance ahead of the IPO [8]