Core Viewpoint - Cambridge Technology (06166) experienced a volatile debut, with its stock price initially rising to 109 HKD before declining to a low of 76.45 HKD, reflecting only a slight increase of over 10% from the IPO price of 68.88 HKD [1] Company Summary - Cambridge Technology generates revenue primarily from the sales of broadband, wireless, and optical module technology products, positioning itself as one of the few companies globally offering these three types of technology products [1] - The company's Q3 2025 performance report indicates high-quality growth driven by its two main businesses: high-speed optical modules and telecom broadband access, with the high-speed optical module segment showing significant performance due to increased demand from global data center construction [1] Industry Summary - The optical communication sector has faced challenges in Q3, with companies like NewEase and Tianfu Communication reporting slight declines in revenue, breaking their previous growth trends, while Zhongji Xuchuang maintained growth both year-on-year and quarter-on-quarter [1] - According to Guosheng Securities, the overall performance of the industry in Q3 was relatively flat, as the optical communication sector is transitioning from 800G to 1.6T, leading to short-term performance fluctuations during this technological shift [1] - The industry is expected to enter a new growth cycle as the market conditions improve in Q4, indicating a potential recovery and growth in the optical communication sector [1]