Yute Optoelectronics goes public, Tongze Kangwei opens subscription

Recently, two companies, Yute Optoelectronics and Tongze Kangwei, have successively gone public, opened subscriptions, and raised funds to strengthen optical communication-related businesses.

Raising 242 million yuan to invest in optical fiber connectors, Yute Optoelectronics went public

On October 9, Jiangsu Yute Optoelectronics Technology Co., Ltd. was listed on the Beijing Stock Exchange. On the first day of listing, the price surged 492.73%.

In this listing, Yute Optoelectronics publicly issued approximately 17.6667 million shares, and the actual total amount raised was approximately 243 million yuan. The funds will be invested in the optical fiber connector production base and R&D center.

Yute Optoelectronics focuses on the optical fiber connection device business, and more than 97% of its revenue comes from the two major scenarios of data centers and optical fiber access.

At present, Yute Optoelectronics has mastered technologies such as multi-core optical fiber coupling and multi-core array packaging in high-speed optical modules. It has launched prefabricated end connectors and micro-connection components suitable for 400G, 800G and even 1.6T optical modules. It has entered the data centers of technology giants such as Alibaba, Tencent, ByteDance and other technology giants through Optoelectronics, YOFC, Hengtong Optoelectronics, etc.

In terms of performance, from 2023 to 2025, Yute Optoelectronics' revenue increased from 212 million yuan to 333 million yuan, with a compound annual growth rate of approximately 25%; net profit attributable to the parent company increased from 41.87 million yuan to 69.17 million yuan, a year-on-year increase of approximately 49% in 2025.

However, the growth rate slowed down significantly in the first half of 2026. During the reporting period, the company achieved revenue of 181 million yuan, an increase of only 4.14% year-on-year, and net profit of 36.8957 million yuan, a slight decrease of 1.21% year-on-year.

Yute Optoelectronics stated that during the reporting period, the company had sufficient orders on hand and full production capacity, and its growth was temporarily limited by production capacity bottlenecks.

In this regard, Yute Optoelectronics is accelerating the construction of production capacity. Its Anhui production base has been put into production in the third quarter, and the investment project is expected to release production capacity from the end of 2026 to the beginning of 2027.

Looking forward to the full year of 2026, Yute Optoelectronics predicts that the company will achieve revenue of 450 million to 500 million yuan, a year-on-year increase of 35% to 50%, and net profit attributable to the parent company of 80 million to 95 million yuan.

Communications equipment supplier Tongze Kangwei opens subscription

On October 9, the GEM new stock general rule Kangwei opened subscription. The company plans to publicly issue 36.45 million shares at an issue price of 26.88 yuan per share and a price-to-earnings ratio of 44.72 times, lower than the industry average of 73.53 times in the past month. It is expected to raise approximately 980 million yuan, nearly 400 million yuan less than the original plan.

Tongze Kangwei was established in 2019. The company's main business is broadband connection terminals. Its products cover 4G/5G CPE, MiFi, industrial routers, xPON, etc., and are sold to more than 80 countries and regions around the world. Its customers include Orange, Vodafone, MTN, Airtel and the three major domestic operators.

In 2025, user-side terminal equipment will be Tongze Kangwei's core business, accounting for 83.87% of revenue. The optical communication business will be launched in 2024, with revenue of 62.0116 million yuan in 2025, a year-on-year increase of 161.5%. At present, products have been extended from xPON to GPON and "optical + 5G" converged terminals, and a PON + 5G backup solution has been formed, which can realize automatic switching between optical fiber and 5G networks.

From 2023 to 2025, Tongze Kangwei’s revenue increased from 1.025 billion yuan to 1.646 billion yuan, and the net profit attributable to the parent company fluctuated between 80 million and 107 million yuan. In the first half of 2026, Tongze Kangwei achieved revenue of 1.154 billion yuan, a year-on-year increase of 72.02%; net profit attributable to the parent company was 89.1475 million yuan, a year-on-year increase of 204.38%; the net profit attributable to the parent company in the first three quarters is expected to be 110 million to 122 million yuan. The company expects full-year revenue of approximately 1.903 billion yuan and net profit attributable to the parent company of approximately 129 million yuan.

According to the prospectus plan, the funds raised by Tongzhe Kangwei's IPO will be mainly invested in three directions: approximately 792 million yuan will be used for R&D operation centers and information construction projects, focusing on the research and development of 5G-A terminals, "5G + Industrial Internet" terminals, wired broadband intelligent terminals and optical communication products;

Approximately 289 million yuan will be used to build a global marketing service network to enhance the local service capabilities of operator customers by adding marketing, service and after-sales outlets in key domestic cities and overseas markets; the remaining 300 million yuan will be used to supplement working capital to support business expansion and enhance capital guarantee capabilities.