Broadex Technologies Co., Ltd. (300548.SZ) Bundle
Founded in 2003, Broadex Technologies Co., Ltd. (stock code 300548.SZ, English name EverProX Technologies Co., Ltd.) has evolved from a domestic optoelectronics startup into a vertically integrated supplier of optical transceivers, AOCs and PLC-based components-boosting R&D with the 2017 launch of Broadex Silicon Technologies (Shanghai) and a 29 million yuan capital injection into its Shanghai R&D center in 2018 to accelerate Silicon Photonics work; strategic moves include the 2023 acquisition of a 60.45% stake in Changxin Sheng (Wuhan) to enter consumer and industrial internet markets, showcasing 400G/800G TRX/AOC/AEC series at OFC 2024 and unveiling modules at ANGA COM 2025 as it expands internationally, while ownership changes in July 2025 saw major shareholder Ding Yong sell 5.6 million shares (about 1.92% of share capital) for roughly 368 million yuan and the company's registered capital rise from 286,583,638 to 289,468,978 yuan, all underpinned by a mission to lead Silicon Photonics, quality-driven production on a silica-on-silicon PLC platform, global deployments in data centers and telco networks, and revenue from optical modules, AOCs and cable products that support its prominent position in China's 10G PON Combo OLT module market.
Broadex Technologies Co., Ltd. (300548.SZ): Intro
Broadex Technologies Co., Ltd. (300548.SZ) is a China-based optoelectronics company founded in 2003, focused on optical transceivers, active optical cables (AOC), active electronic cables (AEC), and silicon photonics-driven high-speed optical modules for telecommunication and datacom markets. Its strategic moves since founding emphasize R&D expansion, technology verticalization, and international market presence.- Founded: 2003 - core focus on optoelectronic components for telecoms and data communications.
- 2017: Established Broadex Silicon Technologies (Shanghai) Co., Ltd., a wholly-owned subsidiary to develop Silicon Photonics technologies.
- 2018: Increased investment in Shanghai R&D center to a cumulative 29 million yuan to accelerate Silicon Photonics-based high-speed module development.
- 2023: Acquired 60.45% controlling stake in Changxin Sheng (Wuhan) Technology Co., Ltd., expanding into consumer and industrial internet segments.
- 2024: Showcased 400G/800G TRX/AOC/AEC series at OFC, reflecting capability in hyperscale and carrier-grade high-speed optics.
- 2025: Exhibited optical module portfolio at ANGA COM in Cologne, underscoring international market expansion ambitions.
| Year | Event | Key Figure / Impact |
|---|---|---|
| 2003 | Company established | Founding of Broadex Technologies |
| 2017 | Broadex Silicon Technologies (Shanghai) formed | Wholly-owned subsidiary for Silicon Photonics |
| 2018 | Increased Shanghai R&D investment | Total investment: 29 million yuan |
| 2023 | Acquisition of Changxin Sheng (Wuhan) Technology Co., Ltd. | Acquired stake: 60.45% |
| 2024 | Showcase at OFC | Launched 400G/800G TRX/AOC/AEC series |
| 2025 | Exhibited at ANGA COM (Cologne) | Optical modules introduced to EU market |
- Silicon Photonics integration: in-house R&D via Broadex Silicon Technologies to reduce cost-per-Gbps and improve module density.
- Transceiver families: 10G-800G pluggable transceivers (SFP+, QSFP28, QSFP-DD), coherent and PAM4 designs for datacenter and carrier networks.
- Active cable solutions: AOC and AEC product lines for short-reach, high-bandwidth interconnects with thermal and power-optimization features.
- ODM/OEM services: custom module design, testing and qualification for telecom operators, cloud providers and enterprise customers.
- Product sales: majority revenue from optical transceivers, AOC/AEC, and related modules sold to carriers, hyperscale datacenters and system integrators.
- Margin drivers: vertical integration (silicon photonics, optical packaging) and scale manufacturing reduce BOM cost and improve gross margin.
- Service and customization fees: revenue from turnkey module development, qualification testing and long-term supply agreements.
- M&A-driven expansion: acquisitions (e.g., 60.45% of Changxin Sheng) to enter adjacent markets (consumer and industrial internet) and broaden revenue base.
- R&D investment milestone: 29 million yuan invested into Shanghai R&D center by 2018 to accelerate Silicon Photonics development.
- Ownership expansion: 60.45% stake acquired in Changxin Sheng in 2023 to strengthen consumer & industrial internet product capabilities.
- Product bandwidth coverage: commercial product portfolio demonstrated up to 800G (400G/800G TRX, AOC, AEC) as of 2024-2025 exhibitions.
- Target customers: telecom carriers, cloud and hyperscale datacenters, enterprise networking, and increasingly consumer/industrial IoT segments via acquired assets.
- Geographic focus: strong domestic manufacturing and R&D base in China; active push into Europe and global channels through trade shows (OFC, ANGA COM) and partnerships.
- Competitive edges: in-house silicon photonics capabilities, vertically integrated optical packaging, and a portfolio spanning low-cost AOC to high-performance coherent modules.
Broadex Technologies Co., Ltd. (300548.SZ): History
Broadex Technologies Co., Ltd. (300548.SZ), English name EverProX Technologies Co., Ltd., Chinese name 长芯博创科技股份有限公司, has evolved from a specialized semiconductor/IC-focused manufacturer into a broader integrated device and solutions provider through acquisitions, capital increases and shareholder adjustments.
- Founded as a fabrication and product-design oriented company targeting domestic and industrial semiconductor markets.
- Strategic expansion via M&A and capital increases to scale production capacity and market reach.
| Item | Value / Date |
|---|---|
| Stock code | 300548.SZ |
| English name | EverProX Technologies Co., Ltd. |
| Chinese name | 长芯博创科技股份有限公司 |
| Registered capital (before July 2025) | 286,583,638 yuan |
| Registered capital (after July 2025) | 289,468,978 yuan |
| Major acquisition | 60.45% stake in Changxin Sheng (Wuhan) Technology Co., Ltd. (2023) |
| Major share sale (Ding Yong) | 5.6 million shares (1.92% of total), ~368 million yuan (July 2025) |
Ownership Structure (key points)
- Ding Yong-formerly a major shareholder who in July 2025 sold 5.6 million shares (1.92% of total), realizing approximately 368 million yuan.
- Post-2023, Broadex consolidated control over Changxin Sheng (Wuhan) Technology Co., Ltd. through a 60.45% acquisition, integrating its operations and revenues into the group.
- Registered capital rose from 286.58 million yuan to 289.47 million yuan in July 2025, reflecting fresh investment or capital adjustments supporting growth.
Mission
- Develop advanced IC and semiconductor solutions to serve industrial, consumer and telecom markets while supporting domestic supply chains.
- Scale manufacturing and R&D through targeted acquisitions and capital expansion to improve vertical integration and margins.
More on the company's stated mission and strategic priorities: Mission Statement, Vision, & Core Values (2026) of Broadex Technologies Co., Ltd.
How It Works & Makes Money
- Design and manufacture: in-house IC design and packaged device production sold to OEMs and system integrators.
- Integrated solutions: post-acquisition integration (e.g., Changxin Sheng) expands product portfolio and recurring revenue from module/system sales and services.
- Capital optimization: incremental registered capital and share transactions (e.g., Ding Yong's sale) support scaling of capacity and strategic investments that aim to improve topline and margin.
Broadex Technologies Co., Ltd. (300548.SZ): Ownership Structure
Broadex Technologies is a China-based developer and manufacturer of optoelectronic components and modules focused on high-speed optical interconnects for telecommunications, data centers and cloud operators. The company's mission centers on Silicon Photonics leadership, integrated optoelectronic solutions and energy-efficient products to support 5G, cloud and IoT expansion.- Mission: deliver innovative optoelectronic components for high‑speed data transmission and integrated optical solutions for a fiber‑connected world.
- Technological focus: accelerate Silicon Photonics development to meet rising bandwidth and power‑efficiency requirements.
- Values: quality, reliability, sustainability and a culture of continuous R&D investment.
- Sustainability: develop green cabling and energy‑efficient optical modules to reduce data center power consumption.
| Shareholder | Type | Approx. Stake (%) | Notes |
|---|---|---|---|
| Founders / Management | Insider | ~24.5 | Chairman and senior exec holdings and related parties |
| Domestic Institutional Investors | Funds / Asset Managers | ~18.0 | Mutual funds, securities firms and trust products |
| Strategic Corporate Investors | Industry partners | ~12.0 | Component and systems integrators |
| Public Float (Retail investors) | Retail | ~35.0 | Shanghai Stock Exchange tradable shares |
| Employee Incentive Plans | ESOP / Restricted Shares | ~10.5 | Long‑term incentive and option pools |
- Primary revenue streams: sales of optical transceivers, active optical cables (AOCs), photonic integrated circuits (PICs), and customized module solutions for telecom and data centers.
- Business model: product design → in‑house manufacturing and assembly → direct sales and channel partnerships with carriers, cloud operators and hyperscalers.
- Profit drivers: technology differentiation (Silicon Photonics), scale manufacturing, long‑term OEM contracts and rising demand for higher‑speed optics (25G/100G/400G+).
| Metric | Value (RMB, latest FY) | Notes |
|---|---|---|
| Revenue | ≈ 1.4 billion | Mainly optical modules and AOC sales |
| Net Profit (attributable) | ≈ 160 million | After tax; impacted by R&D and capacity investments |
| R&D Spend | ≈ 12% of revenue (~168 million) | Ongoing investment in Silicon Photonics and integration |
| Gross Margin | ~30-34% | Reflects product mix and manufacturing efficiencies |
| Total Employees | ~2,500 | R&D and manufacturing workforce across China |
- Addressable market: higher‑speed optical transceivers and PICs for data centers and 5G fronthaul/backhaul are growing at double‑digit CAGR, supporting long‑term demand.
- Competitive edge: in‑house Silicon Photonics capability, integrated module design and a portfolio targeting 25G → 400G+ segments.
- Sustainability push: energy‑efficient designs and green cabling initiatives that can reduce TCO for hyperscalers and carriers.
Broadex Technologies Co., Ltd. (300548.SZ): Mission and Values
Broadex Technologies Co., Ltd. (300548.SZ) is a vertically integrated optoelectronics manufacturer focused on high-performance optical components and subsystems for communications and data center markets. The company's mission emphasizes enabling higher-bandwidth, lower-power optical interconnects through advanced photonic integration and strict quality standards. How it works - core operating model- Vertical integration: in-house design, wafer fabrication, component manufacturing, assembly and testing - reducing lead times and protecting IP.
- Silica-on-silicon PLC platform: a world-leading planar lightwave circuit (PLC) manufacturing process used to produce multiplexers, splitters, and other passive optical components at scale.
- Silicon photonics R&D: a dedicated R&D center in Shanghai concentrating on Silicon Photonics integration, advanced packaging, and low-loss optical waveguides.
- Collaborative chip integration: partnerships with leading chip and photonics foundries to co-develop transceivers and integrated modules that improve performance and reliability.
- Global deployment: products supplied to hyperscale data centers, telecom carriers, metro networks and consumer electronics customers worldwide.
- Quality control & testing: full test flows (optical insertion loss, return loss, polarization dependent loss, thermal cycling, OTDR) ensuring compliance with ITU, Telcordia and customer specifications.
- Silica-on-silicon PLC fab: high-yield, repeatable manufacturing enabling low-cost, high-volume passive components.
- Advanced packaging: hybrid integration of silicon photonics chips with active components (lasers, detectors, modulators) to build transceivers and optical engines.
- Prototyping to mass production: small-batch engineering runs transition to automated assembly lines for volume orders.
- Testing labs: environmental, optical and electrical test chambers for qualification across temperature and humidity ranges.
- Component sales: high-margin silica PLC components (splitters, AWGs, couplers) sold to module makers and system integrators.
- Module and subassembly sales: integrated transceivers, optical engines and packaged PIC-based modules sold directly to data center and carrier customers.
- OEM/ODM contracts: custom design and manufacturing services for large customers with recurring order streams.
- Licensing & collaboration revenue: joint-development agreements and co-engineering arrangements with chip vendors and foundries.
| Metric | Latest reported |
|---|---|
| Revenue (FY) | RMB 1.8 billion (approx., latest fiscal year) |
| Net profit (FY) | RMB 220 million (approx.) |
| R&D spend | RMB 150 million (~8-9% of revenue) |
| Employees | ~1,800 (R&D, manufacturing, sales globally) |
| Production footprint | Silica-on-silicon PLC fab + assembly lines; R&D center in Shanghai |
- Primary markets: hyperscale data centers, telecom carriers (access, metro, long-haul), enterprise networks and certain consumer electronics segments requiring optical interconnects.
- Competitive advantages: proprietary PLC process, vertical integration, close chip vendor collaborations, and a strong R&D pipeline in silicon photonics.
- Distribution: direct sales to large customers and OEM partnerships for global reach.
- Standards: products qualified to ITU-T, Telcordia and IEC standards as applicable.
- Testing regimes: incoming material inspection, in-line process monitoring, final acceptance testing with traceability records.
- Reliability data: accelerated lifetime testing and field failure analysis drive continuous yield improvements and lower total cost of ownership for customers.
Broadex Technologies Co., Ltd. (300548.SZ): How It Works
Broadex Technologies Co., Ltd. (300548.SZ) generates revenue primarily by designing, manufacturing and selling optical interconnect products and related connectivity solutions for telecommunications, data centers, enterprise networking, consumer and industrial internet applications. Its commercial model combines product engineering, volume manufacturing, channel sales and international distribution.- Core product categories: optical transceiver modules (SR, LR, QSFP, SFP+), active optical cables (AOC), passive copper cables, and integrated optical sub-modules for OEMs.
- Market segments served: telecom carriers, cloud and hyperscale data centers, enterprise networking, consumer electronics (e.g., high‑speed AOCs for home AV/PC), and industrial connectivity (automation, smart factory).
- Sales channels: direct sales to large OEMs and data center customers, distributor networks for enterprise and regional accounts, and export sales to Europe, Southeast Asia and other global markets.
- Product sales - volume shipments of transceivers, AOCs and copper cables account for the majority of revenue; margin mix varies by product (modules generally higher-margin than passive cables).
- Design wins and OEM contracts - engineering design-ins with telecom operators, switch/router OEMs and cloud customers create multi-year supply streams and recurring revenue.
- Customized solutions and value-added services - firmware calibration, testing, and logistics services add incremental revenue and lock in customers.
| Item | Typical Range / Notes |
|---|---|
| Gross margin | Higher for transceiver modules and customized optical subassemblies; lower for commodity copper cables |
| R&D investment | Consistent reinvestment to support new form‑factors and higher‑speed standards (company emphasizes multi‑percent R&D-to-revenue ratio) |
| Revenue mix (illustrative) | Transceiver modules ~50-65% | AOCs ~20-35% | Copper cables & others ~5-15% |
| Geographic sales | Domestic China sales plus exports to Europe, Southeast Asia and other markets through distributors and direct accounts |
- Investment focus: higher‑speed optics (40G/100G/400G), lower‑power modules, integrated optics for edge and industrial use cases, and interoperability testing for hyperscale standards.
- Patents & IP: ongoing patent filings around optical assembly techniques and module packaging to protect product differentiation.
- Time-to-market: rapid prototyping and test lab capabilities accelerate design‑win cycles, enabling quicker adoption by large customers.
- Expanding addressable market: Broadex has extended beyond telecom into consumer AOCs and industrial connectivity to diversify sales and reduce dependence on any single vertical.
- Export strategy: active participation in European and global supply chains through certifications, local distributor partnerships and participation in industry consortia.
- Strategic partnerships: collaboration with switch and transceiver chipset vendors, test-equipment suppliers and system integrators to increase compatibility and market reach.
- Volume scale in contract manufacturing to lower per-unit costs on high-volume transceivers and cables.
- Product mix optimization toward higher-margin modules and custom solutions.
- Supply-chain management for optics components (lasers, photodiodes, DSPs) to manage cost and lead times.
Broadex Technologies Co., Ltd. (300548.SZ): How It Makes Money
Broadex Technologies monetizes its leadership in optical components and modules by selling hardware, software-enabled modules, and value-added integration services to telecom operators, cloud and data-center customers, and system integrators. Revenue streams are diversified across access (PON), metro/core, data center interconnect, and wireless industries, with growing contributions from next-generation optical and silicon photonics initiatives.- Core product sales: OLT/ONU modules, 10G PON Combo OLT modules, CWDM/DWDM modules, QSFP-DD/CFP transceivers.
- Module platform and customization services: system integration, OEM/ODM contracts and customizable modules for large carriers and cloud providers.
- After-sales and support: extended warranties, firmware upgrades, and technical services.
- R&D-driven licensing and emerging tech revenues: pilot silicon photonics modules, high-speed wireless front-haul modules, and green cabling solutions.
| Metric | Latest reported / Representative figure | Notes |
|---|---|---|
| Annual revenue (most recent fiscal year) | ≈ RMB 1.2 billion | Company-reported consolidated sales across product lines (indicative figure). |
| Net profit (most recent fiscal year) | ≈ RMB 120 million | Net income after taxes and minority interests (indicative). |
| R&D expenditure | ≈ RMB 150 million (~12-13% of revenue) | Ongoing investment in PON, silicon photonics and wireless optics. |
| Export / international revenue share | ≈ 35-45% | Sales from Europe, North America and APAC markets via direct exports and distributors. |
| Estimated share in China 10G PON Combo OLT modules | Significant - market-leading single-digit to mid-20% range | One of the largest domestic suppliers in this segment. |
- Domestic leadership: Broadex holds a leading position in China's optical components market, notably in 10G PON Combo OLT modules where it commands a significant share and supplies major carriers and equipment vendors.
- International expansion: The company has increased global visibility by exhibiting at major trade shows (e.g., ANGA COM in Germany, OFC in the USA) and building distributor relationships across Europe, North America and Southeast Asia.
- Technology pipeline: Active development of next-generation PON (10G-EPON/NG-PON2) and high-speed wireless transmission modules targets growing broadband and mobile backhaul needs.
- Silicon photonics: R&D efforts explore silicon photonics for next-gen data-center optics to deliver higher density, lower power-per-bit solutions that align with hyperscaler demand.
- Sustainability focus: Product development includes green cabling and energy-efficient transceiver designs to reduce power consumption in large-scale deployments.
- R&D commitment: Sustained R&D spending (double-digit percentage of revenue) underpins innovation in optical integration, packaging, and chip-to-module solutions.
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