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Nikkei Asia
China optical parts maker eyes Hong Kong's biggest IPO since Alibaba
Zhongji Innolight is preparing for a significant initial public offering in Hong Kong, aiming to raise up to HK$55.05 billion ($7 billion). This IPO would mark Hong Kong's largest since Alibaba's in 2019 and reflects a robust interest from investors, with 33 cornerstone investors already committed. The funds are slated for research and development as well as expansion efforts amidst growing demand from U.S. tech companies for AI infrastructure.
Act nowConfidence: HighShort term horizon
Published 22 Jul 2026, 10:20 UTC3 min read
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Summary
TL;DR
- Zhongji Innolight seeks HK$55.05 billion ($7 billion) in Hong Kong IPO
- IPO could become Asia's second-largest this year after CXMT's
- Company supplies optical transceivers crucial for data centers and AI systems
- Strong cornerstone investor lineup includes major firms like Temasek and BlackRock
- Record revenues highlighted a growing business, particularly in the U.S.
Interesting facts
- Zhongji's revenue rose 60.3% in 2025, showcasing rapid growth.
- The company has substantial business ties with U.S. firms despite geopolitical tensions.
- Revenue nearly tripled in Q1 2026, indicating strong momentum.