First day of the IPO | Zhongji Xuchuang (03308) first listed and opened 0.92% lower in early trading, ranking first in the global optical interconnection solutions market revenue for five consecutive years

The Zhitong Finance App learned that Zhongji Xuchuang (03308) was first listed. The announcement showed that each share was priced at HK$980. A total of 54.5 million shares were issued, 50 shares in each lot, with a net proceeds of approximately HK$52,891 billion. As of press release, it decreased by 0.92% to HK$971, with a turnover of HK$2,846 billion.

According to the prospectus, Zhongji Xuchuang is an optical interconnection solution provider. Its main products are optical modules, which can convert electrical signals and optical signals to each other, and serve high-speed connections between servers, switches and other devices in the cloud and AI infrastructure. According to Insight Consulting, Zhongji Xuchuang has been the world's largest optical interconnect solution provider by revenue for five consecutive years since 2021, accounting for 21.2% of the overall optical interconnect solutions market in 2025, and further strengthened its leading position in the high-speed digital optical interconnect solutions market — the company occupied 28.1% of the market share in the same year.

Notably, on the evening of July 28, Zhongji Xuchuang announced that Liu Sheng, chairman of the company, proposed that the company use its own or self-raised capital of 4 billion yuan to 8 billion yuan to buy back A-shares. On the same night, Zhongji Xuchuang received agency research and said that in response to market rumors that the price of 1.6T optical modules in the industry had dropped significantly, the company's 1.6T ASP was far higher than market rumors, and there was no vicious competition in the industry. Currently, overall industry demand is very strong, raw materials are scarce, and 1.6T delivery is tight. Only a few manufacturers have the ability to deliver 1.6T on a large scale. The company's product pricing is competitive and can maintain a stable level of gross margin.