新股消息 | 剑桥科技通过港交所聆讯 公司正在开发浸入式液冷光电子器件

According to the Hong Kong Stock Exchange's disclosure on October 12, the Shanghai Cambridge Technology Co., Ltd. (abbreviated as: Cambridge Technology) has passed the listing hearing on the main board of the Hong Kong Stock Exchange, with Guotai Junan International as its sole sponsor. Cambridge Technology (603083.SH) is already listed on the Shanghai Stock Exchange. According to Frost & Sullivan, in 2024, based on sales revenue, Cambridge Technology ranks fifth in the global Optical and Wireless Connectivity Devices (OWCD) industry, with a market share of 4.1%.

According to the prospectus, Cambridge Technology mainly engages in the design, development, and sales of connectivity and data transmission devices. During the track record period, the company primarily generated revenue from the sales of broadband, wireless, and optical module technology products. According to Frost & Sullivan, the company is one of the few that provides all three types of technology products to global customers. During the track record period, revenue from overseas markets accounted for 82.9%, 89.3%, 92.6%, and 94.0% of the company's total revenue, respectively. In addition to its operations in China, the company has established a joint headquarters in the United States, with overseas R&D centers in the U.S. and Japan, overseas sales offices in the U.S. and Italy, and overseas manufacturing bases in the U.S., Germany, and Malaysia.

In terms of optical module products, Cambridge Technology's product portfolio covers interconnect speeds of 100G, 400G, 800G, and 1.6T, compatible with a wide range of industry-standard packaging forms. The company is one of the first in the world to deploy 800G and 1.6T optical module products. Pioneering research in silicon photonic modules enables the company to achieve high transmission rates at low costs, which is crucial for supporting the exponential growth of computing power. Cambridge Technology is also advancing Linear Pluggable Optical Devices (LPO) technology, which features low power consumption, low latency, and high performance, making it an ideal choice for artificial intelligence models and data centers. Additionally, the company is developing immersion liquid-cooled optoelectronic devices to enhance server efficiency and thermal management.

Furthermore, Cambridge Technology is committed to Co-Packaged Optics (CPO) technology, which packages laser and silicon photonic module engines (i.e., ELS, External Light Source) that integrate networking and optical engines into a single slot, significantly reducing signal transmission distance and latency, making it an ideal choice for artificial intelligence training and inference.

In terms of finances, for the six months ended June 30 in 2022, 2023, 2024, and 2025, the company's revenues were approximately RMB 3.784 billion, RMB 3.085 billion, RMB 3.65 billion, and RMB 2.034 billion, respectively; during the same period, the profits were approximately RMB 171 million, RMB 94.965 million, RMB 167 million, and RMB 118 million, respectively.