Financial Data and Key Metrics Changes - The company closed the fourth quarter of fiscal year 2025 with over $47 million in cash and no debt, which is viewed as a strategic advantage [13] - The company achieved a reduction of approximately $4 million in operating expenses from the first half of fiscal 2025, enhancing efficiency and cash flow [14] - The company expects $80 million in contracted payments during fiscal 2026, providing clear visibility and confidence in future cash flow [14] Business Line Data and Key Metrics Changes - The company executed key spectrum sales agreements with Encore and LCRA, covering 93% of Texas counties, representing the best year of contracted proceeds at a combined $116 million [12] - Milestone payments received included $44 million from Encore and $8.5 million from Ameren, along with an additional $34 million in cash received ahead of schedule [12] Market Data and Key Metrics Changes - The demand for 900 megahertz LTE continues to be strong, with the company being oversubscribed on the $250 million Anterix Accelerator program [5][17] - The FCC has received strong support from multiple utilities and technology companies for the evolution of the 900 megahertz band to support private, secure wireless networks [10][11] Company Strategy and Development Direction - The company is focused on optimizing its cost structure and streamlining operations, which has already shown benefits [4] - The strategic review process led by Morgan Stanley is ongoing, with no predetermined outcome, but the company is entering from a position of strength [5][6] - The company aims to continue being the preferred choice for utilities by leveraging its market leadership and proven deployment models [34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current status of the FCC proceedings and the potential for the U.S. to lead in smart grid communications [11] - The company is excited about the momentum seen since the last investor call and believes it is well-positioned to execute its strategies [9][14] Other Important Information - The company is committed to a capital-light model, where customer-funded deployments allow scaling without significant capital expenditures [14] - The company is actively engaging with stakeholders in the FCC process to urge a timely and favorable outcome [11] Q&A Session Summary Question: Can you provide insights on the incentives for the oversubscribed $250 million accelerator program? - Management noted strong demand from over a dozen utilities, with active negotiations ongoing, which is unprecedented in the utility industry [17][19] Question: Have utilities begun to engage with partners as part of the accelerator program? - Management confirmed that utilities are engaging with technology partners like Ericsson, Nokia, and GE to facilitate holistic solutions [21][22] Question: How does the five by five megahertz requirement affect potential customers? - Management indicated that utilities have not hesitated to engage with the current three by three offering, as it meets their needs while they are excited about the five by five future [23][24] Question: What is the strategy if a competitor acquires the 800 megahertz spectrum? - Management expressed confidence in their position with 900 megahertz and the proven deployments, believing they will remain the preferred choice for utilities [32][34] Question: What are the goals for contracted proceeds in the next 12 to 18 months? - Management aims to grow from the previous year's $116 million in contracted proceeds, projecting significant percentage growth due to the accelerator program [36][37]

在实际网络部署中，IP地址是构建一切远程连接、账号环境和数据通讯的基石。你选择的到底是静态IP还是动态IP，很可能决定了你业务的稳定性与风控安 全。 2.哪些场景适合使用动态IP？ 一、静态IP与动态IP的基础概念 举个例子，如果你是一家跨境公司，搭建了广告账户和数据收集系统，使用静态IP就像是给你的网站装了"门牌号"，长期可识别；而动态IP则像住在旅馆， 每天门牌都变。 二、关键对比维度：功能、稳定性、安全性 静态IP：由网络服务商手动分配，长期不变。 动态IP：由系统自动分配，每次连接或重启后地址可能变更。 | 对比项 | 静态IP | 动态IP | | --- | --- | --- | | IP地址是否变动 | 否,长期固定 | 是,连接或设备重启后可能更换 | | 稳定性 | 高,适合远程连接/账号绑定 | 低，容易触发账号风控 | | 搭建服务器 | イ 強烈推荐 | Ｘ 不适合 | | 广告/跨境账号登录 | ▽ 更易建立信任 | X 容易被判异常登录 | | 数据抓取/API使用 | √ 可用于白名单设置 | X 无法绑定IP,易被拒绝访问 | | 成本 | 稍高,但性价比好 | 低. 话合轻 ...

Core Viewpoint - Cambridge Technology Co., Ltd. (剑桥科技) has submitted an application for A+H listing on the Hong Kong Stock Exchange, aiming to leverage dual listing for fundraising and international business expansion [2] Group 1: Company Overview - Founded in March 2006, Cambridge Technology specializes in the R&D, production, and sales of terminal equipment for telecommunications, data communications, enterprise and home networks, as well as high-speed optical module products [2] - The company ranks fifth globally in the comprehensive OWCD industry with a sales revenue of $502 million, capturing a market share of 4.1% [5] Group 2: Financial Performance - The company's revenue for the years 2022, 2023, and 2024 was 3.784 billion yuan, 3.085 billion yuan, and 3.650 billion yuan, reflecting year-on-year growth rates of 29.66%, -18.46%, and 18.31% respectively [5] - Net profit attributable to shareholders for the same years was 171 million yuan, 95.018 million yuan, and 167 million yuan, with growth rates of 154.93%, -44.59%, and 75.42% respectively [5] - The gross profit margins for these years were 18.2%, 21.5%, and 20.9% [5] Group 3: Business Segments - Revenue contributions from business segments showed that broadband solutions accounted for 54.5%, 59.2%, and 55.7% of total revenue, while wireless solutions contributed 27.9%, 23.3%, and 28.8% [7] - The company’s solutions are primarily marketed and sold in overseas markets, with revenue contributions from international sales being 82.9%, 89.3%, and 92.6% during the reporting period [7] Group 4: R&D and Cost Management - R&D expenses for the years were 270 million yuan, 276 million yuan, and 320 million yuan, representing 7.1%, 8.9%, and 8.8% of revenue [8] - The company has seen an improvement in its debt repayment capacity, with the asset-liability ratio decreasing from 65.6% to 50.4% over the reporting period [8] Group 5: Market Trends and Future Outlook - The global sales revenue of the comprehensive OWCD industry is projected to grow from $7.1 billion in 2020 to $12.4 billion in 2024, with a compound annual growth rate of 15.0% [2] - The company is actively developing new products, including 400G and 800G optical modules, with mass production expected to meet customer demand by 2025 [9]