Core Viewpoint - Cambridge Technology (603083) expects to achieve profitability in the fiscal year 2025, with a projected net profit attributable to shareholders ranging from RMB 252 million to RMB 278 million, representing a year-on-year increase of 51.19% to 66.79% [1] - The growth is driven by the synergistic development of three core businesses: high-speed optical modules, broadband access, and wireless access [1] Group 1: Financial Performance - The expected net profit attributable to shareholders for the reporting period is between RMB 252 million and RMB 278 million, reflecting a year-on-year increase of 51.19% to 66.79% [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between RMB 249 million and RMB 275 million, indicating a year-on-year increase of 64.62% to 81.81% [1] - The company's performance growth is primarily supported by the robust demand in the high-speed optical module sector, driven by artificial intelligence and accelerated global data center construction [1] Group 2: Capacity and Supply Chain - The new production base in Jiashan is expected to be operational by mid-2025, achieving full design capacity quickly, while the Jiangyue Road factory in Shanghai will close by the end of 2025 [2] - The company is investing in upstream supply chain capacity through prepayments, strategic material reserves, capital expenditures, and equity investments to mitigate supply chain volatility [2] - Ongoing supply chain tensions, particularly for core components, are noted, with some areas experiencing worsening conditions [2] Group 3: Research and Development - The company is expanding its R&D centers in Shanghai, Wuhan, Xi'an, and Taipei, while increasing investment in its North American R&D center and establishing a new center in Hsinchu [2] - R&D efforts are focused on high-speed optical modules, wireless access core technologies, and key component development to build core competitiveness for future technological iterations [2] Group 4: Sales and Marketing - Increased sales and marketing efforts are expected to lay a foundation for future business growth [3] - The company has seen growth in R&D, sales, and management expenses due to business expansion, increased R&D investment, and deeper market penetration [3] - The company received over RMB 16 million in government subsidies related to revenue in 2024, but there were no significant non-recurring gains contributing to this period's performance growth [3]