Core Viewpoint - Beijing Haiguang Chip Technology Co., Ltd. (referred to as Haiguang Chip) has submitted its listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1]. Company Overview - Haiguang Chip is a provider of optoelectronic interconnect products, including optical modules and Active Optical Cables (AOC), which integrate optical modules and fiber cables for high-speed interconnects. The company's products are widely used in AI data centers to support high-speed, high-density, and energy-efficient data transmission [2][3]. - The company has established end-to-end technological capabilities from chip design to optical module manufacturing, focusing on silicon photonics technology to achieve differentiated competition [2]. Product Portfolio - The product range includes optical modules with transmission rates of 100G, 200G, 400G, and 800G, compatible with various industry standard form factors. All single-mode optical modules of 400G and above utilize silicon photonics technology [3]. - The AOC and other product lines cater to diverse customer needs, creating synergistic effects and cross-selling opportunities [3]. Market Position - According to Frost & Sullivan, Haiguang Chip ranks tenth among global professional optical module providers by revenue for 2024 and is the fastest-growing company among the top ten manufacturers from 2022 to 2024. It ranks sixth and fifth among global and Chinese professional AI optical module providers, respectively, based on 2024 revenue [3]. Technological Focus - The company is focused on next-generation optoelectronic interconnect technologies, including 6T, 3.2T, and other high-speed interconnects to meet the growing data throughput demands of AI data centers. Advanced technologies such as Near-Package Optics (NPO) and Co-Packaged Optics (CPO) are being developed to significantly reduce signal loss and improve energy efficiency [3]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported revenues of approximately RMB 102.8 million, RMB 175.3 million, RMB 861.8 million, and RMB 698.1 million, respectively. The total comprehensive losses for the same periods were approximately RMB 60.2 million, RMB 108.6 million, RMB 17.9 million, and RMB 34.9 million [4][5].

Core Viewpoint - Beijing Haiguang Chip Technology Co., Ltd. (referred to as Haiguang Chip) has submitted its listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1]. Company Overview - Haiguang Chip is a provider of optoelectronic interconnect products, offering optical modules, Active Optical Cables (AOC), and other products widely used in AI data centers to support high-speed, high-density, and energy-efficient data transmission [2][3]. - The company has established end-to-end technological capabilities from chip design to optical module manufacturing, focusing on silicon photonics technology for competitive differentiation [2]. Product Portfolio - The product range includes optical modules with transmission rates of 100G, 200G, 400G, and 800G, compatible with various industry standard form factors. All single-mode optical modules of 400G and above utilize silicon photonics technology [3]. - AOC and other product lines cater to diverse customer needs, generating synergistic effects and cross-selling opportunities within the product portfolio [3]. Market Position - According to Frost & Sullivan, Haiguang Chip ranks tenth among global professional optical module providers by revenue for 2024 and is the fastest-growing company among the top ten manufacturers from 2022 to 2024. It ranks sixth and fifth among global and Chinese professional AI optical module providers, respectively, based on 2024 revenue [3]. Technological Focus - The company is focused on next-generation optoelectronic interconnect technologies, including 6T, 3.2T, and other high-speed interconnects to meet the growing data throughput demands of AI data centers. Advanced technologies such as Near-Package Optics (NPO) and Co-Packaged Optics (CPO) are being developed to significantly reduce signal loss and enhance energy efficiency [4]. - PCIeAEC and PCIeAOC products are also being developed to enable high-speed optical interconnects for servers and accelerator cards, providing higher transmission bandwidth and lower power consumption [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported revenues of approximately RMB 102.8 million, RMB 175.3 million, RMB 861.8 million, and RMB 698.1 million, respectively. The total comprehensive losses for the same periods were approximately RMB 60.2 million, RMB 108.6 million, RMB 17.7 million, and RMB 34.9 million, respectively [5].

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