The Zhitong Finance App learned that optical module leader Zhongji Xuchuang (300308.SZ) passed the Hong Kong Stock Exchange main board listing hearing on July 17. According to media reports, the company began a pre-listing roadshow on July 20 to evaluate investor interest and raise up to 8 billion US dollars (about HK$62.4 billion). As soon as this week, bookkeeping and filing will begin. If the listing is successfully completed, Zhongji Xuchuang is expected to become the largest IPO in the Hong Kong market after Alibaba (09988) in 2019.
Zhongji Xuchuang's Hong Kong stock IPO has been registered by the China Securities Regulatory Commission. The company plans to issue no more than 94,004,350 overseas listed common shares and list them on the Hong Kong Stock Exchange. Goldman Sachs, CICC, Morgan Stanley, and GF Securities are co-sponsors.
According to the prospectus, Zhongji Xuchuang is the world's leading provider of optical interconnection solutions. The company's optical interconnect solutions transmit data through optical fibers to enable high-speed, energy-efficient and low-latency connections between servers, switches, and other network devices in increasingly complex and data-intensive cloud and AI infrastructures. The company's main product is an optical module, which can transmit massive amounts of data through mutual conversion of electrical signals and optical signals.
According to Insight Consulting, the company has been the world's largest provider of optical interconnection solutions by revenue for five consecutive years since 2021. In 2025, it accounted for 21.2% of the overall optical interconnect solutions market, and further strengthened its leading position in the high-speed digital optical interconnection solutions market. In the same year, the company occupied 28.1% of the market share.