To The Moon

The China Securities Regulatory Commission issued an official approval regarding the registration of the initial public offering of Shanghai Xihe Technology Co., Ltd. on October 23.

Xihe Technology is set to list on the Shanghai Stock Exchange's STAR Market, with Guotai Haitong Securities acting as its sponsor, and plans to raise 1.83 billion yuan.

According to its prospectus, Xihe Technology focuses on the research, development, and commercialization of silicon photonics integration technology, with its main products being high-performance silicon photonics integrated chips. Its products cover speeds of 400G, 800G, and 1.6T, and have already been deployed at scale in AI clusters and hyperscale data centers. In 2026, the company launched NPO/CPO transceiver-integrated chips that have already generated revenue.

As an independent third-party manufacturer, Xihe Technology supplies silicon photonics integrated chips to the entire market and has entered the supply chains of major international optical module manufacturers, with its products ultimately used in the AI clusters and hyperscale data centers of major domestic and international cloud service providers.

According to Frost & Sullivan data, in 2025, Xihe Technology's global market share of silicon photonics integrated chips was approximately 13%, making it a leading global silicon photonics integrated chip manufacturer and one of the world's foremost independent third-party silicon photonics integrated chip design companies.