Core Viewpoint - Cambridge Technology is set to list on the Hong Kong Stock Exchange, with a strong global market position in the optical and wireless connectivity device industry, ranking fifth with a market share of 4.1% in 2024 [1][3]. Company Overview - Cambridge Technology specializes in the design, development, and sales of connectivity and data transmission devices, generating significant revenue from broadband, wireless, and optical module technology products [3]. - The company is one of the few globally that offers all three types of technology products, with overseas market revenue accounting for 82.9% to 94.0% of total revenue during the historical record period [3][4]. - The company has established a joint headquarters in the United States and has R&D centers in the U.S. and Japan, along with manufacturing bases in the U.S., Germany, and Malaysia [3]. Product and Technology - Cambridge Technology's optical module product range includes interconnect speeds of 100G, 400G, 800G, and 1.6T, compatible with various industry-standard packaging formats [3]. - The company is among the first to deploy 800G and 1.6T optical module products and is conducting pioneering research in silicon photonic modules to achieve high transmission rates at low costs [3]. - The company is advancing linear pluggable optical device (LPO) technology, which is characterized by low power consumption, low latency, and high performance, making it suitable for AI models and data centers [3][4]. - Cambridge Technology is also working on co-packaged optics (CPO) technology, integrating network and optical engine into a single slot, ideal for AI training and inference [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company's revenues were approximately RMB 3.78 billion, RMB 3.08 billion, RMB 3.65 billion, and RMB 2.03 billion, respectively [4][5]. - The net profits for the same periods were approximately RMB 171 million, RMB 94.97 million, RMB 167 million, and RMB 117.55 million, respectively [4][5]. - The gross profit margins for the years 2022, 2023, 2024, and 2025 were 18.2%, 21.5%, 20.9%, and 21.9%, respectively, indicating a stable profitability trend [5].