New IPO News | HaiGuang XinZheng, a provider of optoelectronic interconnect products, has launched its IPO and plans to list on June 29, with a minimum subscription amount of HK$5,757.48 per lot

Futu News, June 18:$CREALIGHTS (01191.HK)$An announcement was issued stating that the offering period will run from June 18 to June 24. The company intends to globally offer approximately X million shares and expects to list on June 29.

Company Overview

The company is a provider of optoelectronic interconnect products, offering optical transceivers, active optical cables (AOCs)—which integrate optical transceivers and fiber optic cables into a single assembly for high-speed interconnectivity—and other products. Its optoelectronic interconnect solutions are widely used in AI data centers to support high-speed, high-density, and energy-efficient data transmission. The company has established end-to-end technical capabilities spanning chip design to optical module manufacturing and focuses on silicon photonics technology.

The company’s portfolio of optical transceivers covers data rates of 100G, 200G, 400G, and 800G and is compatible with multiple industry-standard form factors. All single-mode optical transceivers at 400G and above utilize silicon photonics technology. Its AOCs and other products address diverse customer requirements, creating synergies within the product portfolio and generating cross-selling opportunities.

Financial Summary

For the years 2023, 2024, and 2025, the company’s revenue amounted to RMB 175.3 million, RMB 861.8 million, and RMB 1,221.1 million, respectively. The majority of the company’s revenue derives from direct sales, accounting for 97.4%, 95.5%, and 81.9% of total revenue in those years, respectively. The company reported a gross loss of RMB 31.3 million in 2023, representing a gross loss margin of 17.9%. In 2024 and 2025, it recorded gross profits of RMB 101.8 million and RMB 109.8 million, respectively, with corresponding gross margins of 11.8% and 9.0%.

Use of Proceeds

Regarding the use of proceeds, Hygon Chip expects the net proceeds from the global offering to amount to approximately HK$1.415 billion (calculated based on an issue price of HK$114 per share, assuming the over-allotment option is not exercised). According to the prospectus, Hygon Chip intends to allocate the net proceeds from the global offering for the following purposes:

Approximately 53.4% of the net proceeds are expected to be used to expand the company’s capacity for optical modules and other optoelectronic interconnect products and to enhance automation across its product lines. Approximately 35.0% of the net proceeds are expected to be invested in research and development of new products and technologies over the next three years. Around 1.5% of the net proceeds are earmarked for business promotion and overseas market expansion over the next three years. The remaining approximately 10.0% of the net proceeds are intended for working capital and general corporate purposes.