CIG Shanghai to redirect HK$1.769B H-share proceeds to optical module capacity

Redirecting IPO proceeds away from broadband and wireless toward optical modules is a capital-allocation signal, not just a capacity tweak: it tells you where management believes demand is concentrating. The reallocation still needs shareholder approval, so the shift is proposed rather than locked in. The disclosed monthly design capacity and the roughly 15-month buildout give a concrete yardstick for judging execution. The open question is whether the optical module ramp converts into utilization rather than idle capacity if demand cools.