ZJ INNOLIGHT (03308) made its trading debut on the Hong Kong stock exchange today. According to its prospectus, the company priced its shares at HK$980 per share, issuing a total of 54.5 million shares. Each board lot consists of 50 shares, and the net proceeds from the offering amount to approximately HK$52.891 billion.

As of the time of writing, the stock was trading 0.92% lower at HK$971, with a turnover of HK$2.846 billion.

ZJ INNOLIGHT is a provider of optical interconnect solutions. Its primary products are optical modules, which convert electrical signals to optical signals and vice versa, enabling high-speed connections between servers, switches, and other equipment in cloud and AI infrastructure.

According to a report from CIC Consulting, ZJ INNOLIGHT has been the world's largest optical interconnect solutions provider by revenue for five consecutive years since 2021. In 2025, it captured a 21.2% share of the overall optical interconnect solutions market. The company further solidified its leading position in the high-speed data communication optical interconnect solutions market, holding a 28.1% market share that same year.

It is worth noting that on the evening of July 28, ZJ INNOLIGHT announced that its chairman, Liu Sheng, proposed using the company's own or self-raised funds of between 4 billion and 8 billion yuan to repurchase the company's A-shares. That same evening, during an institutional research meeting, the company addressed market rumors about a significant price decline for 1.6T optical modules. The company stated that the average selling price (ASP) of its 1.6T products is far higher than the market rumors suggest, and that there is no vicious competition in the industry. Current overall industry demand is very strong, raw materials are in short supply, and delivery of 1.6T modules is tight. Only a few manufacturers possess the capability to mass-produce 1.6T modules. The company's product pricing is competitive and can maintain stable gross profit margins.