According to reports, Zhongji Innolight Co.,Ltd. (300308.SZ) is planning a Hong Kong listing as soon as June. The fundraising target has reportedly increased from an earlier market estimate of $3 billion to $5 billion. If achieved, this could become the largest initial public offering in Hong Kong since the listing of Contemporary Amperex Technology Co. Limited. The listing process is said to be managed by China International Capital Corporation Limited, GF Securities Co., Ltd., Goldman Sachs, and Morgan Stanley.
Zhongji Innolight announced its intention to list in Hong Kong last November, stating the move aims to advance its international strategy and global footprint while enhancing its overseas financing capabilities. Unlike other mainland companies that pursue a typical "A+H" dual listing, Zhongji Innolight is reportedly proceeding with its application via a confidential filing process. This method helps companies avoid premature disclosure of sensitive business information, with specific details to be released after receiving regulatory approval.
Zhongji Innolight is a key supplier to NVIDIA, primarily engaged in the manufacturing of high-speed optical modules. Financial reports indicate that for the year 2025, the company achieved operating revenue of 38.24 billion yuan, representing a year-on-year increase of 60.25%. Net profit attributable to shareholders reached 10.797 billion yuan, surging 108.78% compared to the previous year. After adjusting for non-recurring items, net profit was 10.71 billion yuan, up 111.31% year-on-year. Basic earnings per share were 9.80 yuan.
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