Zhongji Innolight Co.,Ltd. (300308.SZ) announced today that its controlling shareholder, Shandong Zhongji Investment Holding Co., Ltd., along with its concerted parties, reduced their stake by 1.46 percentage points, following a notice received on July 30, 2026. Prior to the change, the controlling shareholder group held a 17.99% stake, which decreased to 16.53% after the adjustment. The reduction in the controlling shareholder's equity ratio is attributed to the company's overseas listing (H-shares), exercise of equity incentive shares, and secondary market sales. Specifically, the controlling shareholder and its concerted parties sold a total of 6,208,552 A-shares between May 28, 2025, and July 30, 2026, with the controlling shareholder disposing of 5.5 million shares and Wang Xiaodong selling 708,600 shares. At today's closing price of 864 yuan, Zhongji Innolight Co.,Ltd. has a market capitalization of 963.6 billion yuan. Although the stock has fallen nearly 40% from its peak, it remains several times higher than a year ago. Based on today's price, the 621,000 shares sold by the controlling shareholder are valued at over 5 billion yuan.

ZJ INNOLIGHT (03308.HK) made its debut on the Hong Kong Stock Exchange today at an issue price of 980 Hong Kong dollars, raising 53.4 billion Hong Kong dollars through the sale of 54.5 million shares. After deducting issuance expenses of 519 million yuan, the net proceeds total 52.891 billion yuan. The company plans to use the funds for research and development of optical interconnect products, global capacity expansion, and strategic acquisitions and investments. The listing attracted 29 cornerstone investors, committing a total of $34.5 billion (approximately 27 billion Hong Kong dollars). Key investors include Temasek committing $3 billion, Highflyer's HHLRA committing $3 billion, JPM AM committing $2.5 billion, BlackRock committing $2.5 billion, and Yunfeng Capital's YF Capital and Aspex each committing $1.5 billion. Other notable participants include Alibaba, Tencent, CPP Investments, Oaktree, and Chow Tai Fook Enterprises, each committing $50 million. Despite support from major backers like Alibaba, Tencent, and Highflyer, ZJ INNOLIGHT shares fell below the issue price, dropping as much as 8% during the session. The stock closed at 960 Hong Kong dollars, down 2% from the issue price, giving the company a market capitalization of 1.12 trillion Hong Kong dollars. Based on the 2% decline, Temasek and Highflyer face a paper loss of $6 million (approximately 40.6 million yuan), while Alibaba and Tencent each incur a $1 million loss.