ECM

Zhongji Innolight (中际旭创) A+H IPO: Analysis of Deal Terms

22 Jul 2026 By Ke Yan, CFA
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Abstract: Zhongji Innolight, a global supplier of optical transceivers for cloud and AI data centers, launched its IPO to raise USD 7,021m through an A+H listing. GS, CICC, MS, and GF are the deal sponsors. In this note, we look at the deal terms and provide our thoughts on valuation for the company. We analyze reference A+H transactions, cornerstone and sponsor performance and assess the risk-reward of the deal.

ZTE (000063 CH) Luxshare Precision (002475 CH) MEIG SMART TECHNOLOGY (002881 CH) MINIMAX (100 HK) ZIJIN GOLD INTL (2259 HK) LUXSHARE ICT (2475 HK) ZHONGJI INNOLIGHT (300308 CH) MEIG (3268 HK) YOFC (601869 CH) CIG SHANGHAI (603083 CH) CIG (6166 HK) MONTAGE TECH (6809 HK) YOFC (6869 HK) ZTE (763 HK)

Highlighted Stocks

ZTE, Luxshare Precision, MEIG SMART TECHNOLOGY, MINIMAX, ZIJIN GOLD INTL, LUXSHARE ICT, ZHONGJI INNOLIGHT, MEIG, YOFC, CIG SHANGHAI, CIG, MONTAGE TECH, YOFC, ZTE

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