A-Share Subscription | Yute Optoelectronics (920157.BJ) Opens Subscription, Focused on R&D, Design, Precision Manufacturing, and Sales of Optical Connectivity Products

On September 21, Yute Optoelectronics (920157.BJ) opened for subscription at an issue price of RMB 13.75 per share, with a subscription cap of 618,300 shares and a price-to-earnings ratio of 14.99 times. It is listed on the Beijing Stock Exchange, with Guotai Haitong serving as its sponsor. According to the prospectus, Yute Optoelectronics is a national-level specialized and sophisticated "little giant" enterprise focused on the R&D, design, precision manufacturing, and sales of optical connectivity products. It is committed to providing high-performance optical connectivity overall solutions for equipment manufacturers, system integrators, domestic and international telecom operators, and optoelectronic device companies in the optical communications field. Since its establishment, the company has been deeply engaged in optical connectivity technology. Its core products are mainly used in two major fields: data centers and fiber access. While actively expanding in the domestic market, its products are also exported to multiple countries and regions including South America and Europe, aiming to become a globally leading supplier of high-performance optical connectivity overall solutions. The company's data center products mainly include high-speed optical module micro-optical connection components and pre-terminated connectors. Among them, high-speed optical module micro-connection components are mainly used for optical connections inside optical modules such as 400G, 800G, and 1.6T, coupled with lasers and detectors, serving as the bridge between optical devices inside the optical module and external optical fibers; pre-terminated connectors are mainly used for optical connections between data center servers and switches, and are core components for building high-speed, stable, and reliable data networks. The company's fiber access products mainly include field-assembly optical fiber connectors, pre-terminated single-core optical fiber connectors, equipment and components, etc. Among them, field-assembly optical fiber connectors can achieve rapid on-site termination of optical cables in fiber access scenarios, and pre-terminated single-core optical fiber connectors can achieve plug-and-play in fiber access scenarios. The equipment and components are mainly optical fiber fusion splicers, which complete optical fiber end-face polishing through arc fusion, and work with fusion-type optical fiber movable connectors to complete on-site optical cable termination. They feature small size, ease of operation, and high reliability, and can meet the needs of operators for long-term carrying and installation in complex scenarios. In the data center field, the company has made forward-looking arrangements in high-density optical interconnect technology, successfully mastering core technologies such as dual-core/multi-core optical fiber coupling, polarity conversion technology, and multi-core array packaging technology within high-speed optical modules, and has launched 400G, 800G, and 1.6T high-speed optical module micro-optical connection components, AOC, polarity-switchable, and ultra-small DPO multi-core pre-terminated connector series products adapted to the development trends of AI and cloud computing. With leading technical strength and product performance, the company has established long-term stable cooperative relationships with domestic leading optical communications enterprises such as Accelink Technologies, Yangtze Optical Fibre and Cable Joint Stock, and Hengtong Optic-Electric, and related products have been widely used in the data centers of global top internet companies such as Alibaba, Tencent, and ByteDance. In the fiber access field, the company has seized the market opportunities brought by 5G construction and "Fiber to the Room" (FTTR) upgrades. After twenty years of technological accumulation, it has successfully developed the domestically leading third-generation optical connectivity technology "optical fiber fusion termination technology." The company has launched products such as field-assembly optical fiber connectors, pre-terminated single-core optical fiber connectors, and optical fiber fusion termination equipment, providing customers with convenient, reliable, and efficient one-stop optical fiber connection solutions. The company's products have deeply served the optical communications network construction of households, campuses, and government and enterprise users, and it has maintained long-term stable cooperative relationships with major operators and equipment manufacturers such as China Telecom Corporation, China United Network Communications, and China Mobile Limited. In addition, relying on its core technology platform, the company has successfully developed leading optoelectronic hybrid technology and actively expanded into emerging fields such as healthcare, new energy, and automotive communications, launching optoelectronic hybrid connection products that break through power supply and transmission bottlenecks. The company possesses full-process service capabilities from demand analysis to batch delivery, and has built full-process vertically integrated capabilities covering R&D and design, precision mold manufacturing, automated production, and intelligent testing, with processing accuracy reaching sub-micron level and inspection accuracy reaching nanometer level, forming deep technical barriers and large-scale manufacturing advantages. It has been awarded "Jiangsu Provincial Engineering Technology Research Center for Optical Communication Devices and Equipment," "Jiangsu Provincial Specialized and Sophisticated SME," and "National-Level Specialized and Sophisticated 'Little Giant' Enterprise." As of the end of the reporting period, the company had obtained 141 patents, including 21 invention patents, and had participated in the formulation of 4 communications industry standards. In terms of financials, for the fiscal years 2023, 2024, and 2025, the company achieved operating revenue of approximately RMB 212 million, RMB 253 million, and RMB 333 million, respectively; during the same periods, it recorded net profit of approximately RMB 41.8671 million, RMB 46.4471 million, and RMB 69.1695 million, respectively.