Chinese AI supplier Zhongji Innolight slips 5 percent on its Hong Kong debut

Shares in Zhongji Innolight, the Chinese optical transceiver maker, fell 5 percent on Thursday, 30 July 2026 (8 Mordad 1405), on their trading debut on the Hong Kong Stock Exchange.

The company raised HK$53.4 billion ($6.8 billion) in its initial public offering, pricing shares at HK$980 each, below the maximum indicated price of HK$1,010. The deal was Asia's second-largest listing this year, behind the $8.6 billion Shanghai listing of Chinese memory-chip maker CXMT. The Hong Kong retail tranche drew orders for roughly 16.8 times the shares available, while the international tranche was 9.7 times covered.

Zhongji, which is also listed in Shenzhen, supplies components used in artificial intelligence data centres, cloud computing and high-speed networking. According to consultancy CIC, cited in the company's prospectus, it is the world's largest provider of optical interconnect solutions by revenue, accounting for 21.2 percent of the global market in 2025. The company said it plans to use the proceeds to fund research and development, expand overseas production capacity, strengthen its supply chain and pursue potential acquisitions.