格隆汇8月27日｜剑桥科技发布股票交易风险提示性公告称，公司目前生产经营活动保持正常，未发生 影响公司股票交易价格异常波动的重大事宜。公司主营业务涉及PON、高速光模块等通信设备制造，行 业发展与全球通信技术迭代、下游客户资本开支计划密切相关。若未来行业政策调整、市场需求不及预 期、核心原材料供应短缺或价格大幅上涨，可能对公司生产经营、产品成本及盈利能力产生不利影响。 2025年8月27日，公司控股股东Cambridge Industries Company Limited通过大宗交易的方式减持其持有的 公司股份180万股。 ...

Group 1 - The core point of the article is that Shenzhen Shouhui Technology Group Co., Ltd. has successfully passed the listing hearing on the Hong Kong Stock Exchange after multiple attempts, but faces significant challenges ahead, including financial losses and market competition [2][9]. - The company issued 24.36 million new shares at a price of HKD 8.08 per share, raising a total of HKD 197 million, but the stock price fell significantly on its debut, closing at HKD 6.61, a drop of 18.19% [2][3]. - The company has experienced substantial financial volatility, with revenues of HKD 8.06 billion in 2022, HKD 16.34 billion in 2023 (a 102.7% increase), and a drop to HKD 13.87 billion in 2024 (a 15.1% decrease) [5][6]. Group 2 - The company has accumulated losses of HKD 4.92 billion over the years 2023 and 2024, with net losses of HKD 3.56 billion in 2023 and HKD 1.36 billion in 2024 [5][6]. - The revenue structure is heavily reliant on insurance transaction commissions, with over 99% of income derived from this source, indicating a vulnerability in its business model [6][7]. - Approximately 60% of the funds raised from the IPO are intended for optimizing the sales network and research and development, highlighting the company's focus on improving operational efficiency [7][8]. Group 3 - The company has faced internal governance issues, including a notable incident in 2020 involving a power struggle among founders, which raises concerns about management stability [8][9]. - The company operates under significant pressure from investor agreements that could lead to substantial financial liabilities if it fails to meet certain milestones [7][8]. - The competitive landscape is challenging, with major players like Ant Group and Tencent exerting pressure on smaller platforms, necessitating strategic adaptations for future growth [9].