Chinese 450 billion yuan optics firm Innolight weighs Hong Kong listing: sources

Zhongji Innolight, a Chinese maker of optical communication modules and devices, is considering a listing in Hong Kong, according to people familiar with the matter.

The Shandong-based company is working with advisers on the possible listing, the people said, asking not to be identified because the information is private.

Considerations are preliminary and details like the size and timing of an offering are under discussion, the people added.

A representative for Innolight did not immediately respond to requests seeking comment during the holidays in China.

Innolight makes optical transceivers used in cloud computing and data centres, as well as mobile and fixed networks. Its Shenzhen-listed shares have rallied 227 per cent this year, for a market capitalisation of about 450 billion yuan (S$82 billion). The company also operates its international headquarters in Singapore.

If it proceeds, the company would be joining a growing cohort of mainland China-listed firms flocking to Hong Kong for fundraising, in many cases to support their overseas expansion. These deals have helped push Hong Kong’s first-time share sale proceeds to almost US$24 billion in 2025, heading for a four-year high, data compiled by Bloomberg show.

Innolight would be among the largest Chinese firms looking to list in Hong Kong, along with the likes of Shenzhen Mindray Bio-Medical Electronics and AirPods maker Luxshare Precision Industry, which filed an application with the stock exchange in August.

Innolight reported a 69 per cent gain in net income for the first half, pushing its shares to a record and boosting sentiment for other Chinese optics companies as rising artificial intelligence investment boosts demand for computing power. BLOOMBERG