“The first global AI silicon photonic chip stock” is officially listed

On April 28, Xizhi Technology, "the world's first AI silicon photonic chip stock", was officially listed on the Hong Kong Stock Exchange.

Xizhi Technology issued 13,795,215 shares at an issue price of HK$183.2, raising a total of HK$2.527 billion. After deducting the listing fee of 150 million yuan payable by the issuance, the net raised amount was HK$2.377 billion. On the first day of listing, the opening price of Xizhi Technology was HK$880, an increase of more than 380% from the issue price of HK$183.2. As of 11 o'clock, its latest stock price was HK$847.5 per share (approximately RMB 738.77), and its total market value was HK$77.943 billion (approximately RMB 67.943 billion).

Information shows that Xizhi Technology was founded in 2017 and is headquartered in Shanghai. It focuses on photoelectric hybrid computing solutions. Its core products include near-package optics (NPO), co-packaged optics (CPO), photoelectric hybrid computing accelerator cards, etc., which are used in AI computing, data centers and other scenarios.

Since its establishment, Xizhi Technology has completed multiple rounds of financing. Investors include Baidu, Tencent, Shanghai SDIC, China Mobile, CICC Capital, China Merchants Venture Capital, Matrix Ventures, China Science and Technology Star, Sequoia Capital, etc. In September 2025, Xizhi Technology completed a Series C financing of more than 1.5 billion yuan, with participation from China Mobile, Shanghai SDIC, Guoxin Fund, Pudong Venture Capital, Tencent, etc.

In terms of performance, Xizhi Technology’s revenue from 2023 to 2025 is 38 million yuan, 60 million yuan and 106 million yuan respectively. Among them, optical interconnect solutions, especially Scale-up products, are the company's performance pillars. In 2025, Scale-up products will achieve sales revenue of 75.58 million yuan.

Xizhi Technology stated that the funds raised from this listing will accurately focus on core main business R&D and technology upgrades, and long-term promote the implementation of the company's core projects such as near-packaging optics, co-packaging optics, and PACE 3 optoelectronic hybrid computing accelerator cards.

According to the company's plan, 70% of the raised funds will be used for research and development investment in the next five years: 35% of which will focus on the optical interconnection business, focusing on core technologies such as high-end silicon photonic chip design and high-speed optical and electrical transmission; the other 35% will be invested in the field of optical computing, concentrating resources to iterate and develop the next generation of optical and electrical hybrid computing cards to accelerate commercialization.