Core Viewpoint - Cambridge Technology's Hong Kong IPO application has been approved by the Hong Kong Stock Exchange, indicating a significant step for the company in expanding its market presence [1][2]. Group 1: Company Overview - Cambridge Technology primarily engages in the design, development, and sales of connectivity and data transmission devices, generating revenue through broadband, wireless, and optical module technology products [2][3]. - As of 2024, Cambridge Technology ranks fifth in the global integrated optical and wireless connectivity equipment industry, holding a market share of 4.1% [1][2]. Group 2: Financial Performance - The company's revenue has fluctuated in line with industry trends, experiencing a decline in 2023 due to an industry-wide destocking cycle and sluggish demand. However, revenue is projected to rebound to 3.65 billion yuan in 2024, driven by the release of deferred demand and strong sales [2]. - In the first half of this year, the company's revenue exceeded 2 billion yuan, reflecting a year-on-year growth of 15.48% [2]. Group 3: Market Presence - A significant portion of Cambridge Technology's revenue is derived from overseas markets, with international sales accounting for 82.9%, 89.3%, 92.6%, and 94% of total revenue from 2022 to 2024 and the first half of this year, respectively [3]. - The company has established a joint headquarters in the United States and has overseas R&D centers in the U.S. and Japan, as well as sales offices in the U.S. and Italy, and manufacturing bases in the U.S., Germany, and Malaysia [3]. Group 4: Future Outlook - Cambridge Technology plans to implement several overseas business strategies, including recruiting international talent, optimizing overseas production capacity, and expanding its overseas sales network [4].