格隆汇9月29日丨剑桥科技(603083.SH)在投资者互动平台表示，公司在光模块领域具备涵盖硅光、EML （电吸收调制激光器）、DML（直接调制激光器）在内的多种技术路线的技术能力与技术储备，目前 800G及1.6T光模块产品以硅光技术为主要方案。在CPO技术布局方面，公司现阶段业务重点聚焦于基 于硅光技术的CPO光引擎，以及CPO外置集成光源ELSFP（外置集成光源小型可热插拔模块）的研发工 作。其中，1.6T与3.2T的CPO集成硅光光引擎、基于大功率激光器的CPO外置集成光源ELSFP均已启动 预研及后续研发，相关产品目前处于客户定制化样机阶段。公司于近期深圳的CIOE（中国国际光电博 览会）展会期间，已展出部分试验样机。需要特别提示的是，敬请投资者理性看待公司在新兴技术领域 的长期布局进展：一方面，业界各厂商（包括本公司）在CPO领域的布局属于长期投入，对公司短期业 绩无直接影响；另一方面，业界共识是CPO技术从研发到商用落地仍需相当长的周期，且过程中存在不 确定性。 ...

Core Viewpoint - Cambridge Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Guotai Junan International as its sole sponsor. The company is recognized as a global leader in providing efficient real-time connectivity solutions related to optical communication, broadband, and wireless technology, ranking fifth in the global Optical and Wireless Connectivity Devices (OWCD) industry by sales revenue in 2024 [1]. Company Overview - Cambridge Technology is a global leader in providing critical infrastructure components to support the development of artificial intelligence. Its sales revenue primarily comes from optical connection solutions, broadband solutions, and wireless technology solutions during the reporting period [3]. - The company is one of the first in the OWCD industry to develop 800G and 1.6T optical module products. As of April 18, 2025, its 800G optical module is recognized as the most advanced mass-produced optical module globally, while the 1.6T optical module is among the leading research products in the industry [3]. Technology and Innovation - The company has pioneered several important technologies, including silicon photonic modulation optical module technology, which enables the creation of high-integration, high-transmission-rate products at low cost and power consumption. Additionally, its proprietary Linear Pluggable Optical (LPO) technology leads the industry in low power consumption, low latency, low cost, and enhanced performance [3]. - The company is also developing packaging laser and silicon photonic engines for co-packaged optics technology, which aims to integrate networking and optical engines into a single slot, significantly reducing costs [3]. Market Opportunity and Competitive Landscape - The global sales revenue of the OWCD industry has increased from $32.4 billion in 2020 to $54.6 billion in 2024, with a compound annual growth rate (CAGR) of 13.9%. It is projected to reach $111.8 billion by 2029, with a CAGR of 15.4% from 2024 onwards. The recent explosive growth in artificial intelligence applications has led to increased demand for connectivity solutions that ensure fast, low-latency, and high-capacity data transmission [4]. Financial Performance - For the fiscal years ending December 31, 2022, 2023, and 2024, the company's revenues were approximately RMB 3.78 billion, RMB 3.09 billion, and RMB 3.65 billion, respectively. The net profits for the same periods were approximately RMB 171 million, RMB 95 million, and RMB 167 million [4][5]. - The company's gross profit margins for these years were 18.2%, 21.5%, and 20.9%, respectively, indicating a relatively stable profitability trend despite fluctuations in revenue [5]. International Market Exposure - A significant portion of the company's operations and revenue comes from international markets, with overseas revenue accounting for 82.9%, 89.3%, and 92.6% of total revenue for the years ending December 31, 2022, 2023, and 2024, respectively [5].