Zhongji Innolight raises $6.81 billion in Hong Kong IPO
Zhongji Innolight, a Chinese company making key parts for AI and data centers, just pulled off Hong Kong's biggest IPO since Alibaba in 2019, raising $6.81 billion by selling shares at HK$980 each.
This is Asia's second-largest IPO of the year, and the money will go toward boosting their research, expanding factories, buying other companies, and improving their supply chain.
Zhongji Innolight Q1 profits $934.12 million
Zhongji's shares start trading July 30.
Even though the US Defense Department labels them as military-linked, over 60% of their revenue came from the US in early 2026, and they say this label doesn't affect their business or stock trading.
The company's profits jumped nearly four times to $934.12 million in the first quarter, with revenues nearly tripling thanks to strong demand for their optical transceivers that power everything from cloud computing to AI systems.