IPO Pricing | 'Optical Interconnect Solutions Provider' Accelink Technologies debuts today, priced at HK$980 per share, with a 70% allotment rate for one board lot.

Futu News, July 30: $ZJ INNOLIGHT (03308.HK)$ announced its allotment results, pricing shares at HK$980 each, issuing a total of 54.5 million shares, with each board lot consisting of 50 shares, officially listing today.

During the public offering phase, InnoLight Technology received 16.84x subscription. The final number of shares allocated to the public offering was 5.45 million shares, representing approximately 10% of the total offering. A total of approximately 62,731 valid applications were received, with application numbers processed totaling around 51,199. The percentage of applicants who applied for one lot and were allocated shares is approximately 70% of the total number of shares applied for.

Additionally, during the international placement phase, InnoLight Technology received 9.73x subscription. The final number of shares allocated to the international offering was 49.05 million shares, equivalent to 90% of the total offering. Futu has compiled the relevant data in the table below:

Company Overview

The company is a global leader in optical interconnect solutions. Its optical interconnect solutions transmit data via fiber optics, enabling high-speed, energy-efficient, and low-latency connectivity between servers, switches, and other networking equipment within increasingly complex and data-intensive cloud and AI infrastructures. The company’s primary products are optical transceivers, which transmit massive volumes of data by converting electrical signals into optical signals and vice versa.

The company holds a competitive advantage that enables it to proactively capture market opportunities ahead of the industry curve. Through long-term collaboration with leading cloud service providers and AI computing solution vendors, the company develops next-generation solutions to meet their demanding and evolving product requirements. It is committed to ensuring timely delivery and scalability while continuously driving improvements in cost efficiency. Grounded in its dedication to technological innovation, the company delivers leading optical interconnect solutions that provide critical momentum for supporting and advancing next-generation AI infrastructure.

Financial Overview

The company’s revenue from optical transceivers amounted to RMB 10,182.0 million, RMB 22,885.8 million, and RMB 37,456.5 million in 2023, 2024, and 2025, respectively. Gross profit for the same periods was RMB 3,384.5 million, RMB 7,941.1 million, and RMB 15,875.9 million, respectively. Overall gross margins were 31.6%, 33.3%, and 41.5% in 2023, 2024, and 2025, respectively.

Use of Proceeds

Regarding the use of proceeds, InnoLight Technology’s global offering is expected to generate net proceeds of approximately HKD 52.891 billion (based on the offer price of HKD 980 per share). According to the prospectus, InnoLight Technology intends to allocate the proceeds from the global offering as follows:

Approximately 35.0% will be allocated over the next five years toward continued investment in optical interconnect product R&D; approximately 30.0% will be used to expand the company’s global manufacturing capacity to support its product upgrade roadmap, which is expected to add up to approximately 50 million optical transceivers in annual production capacity over the next three years; approximately 10.0% will be allocated over the next five years to enhance supply chain resilience and commercialization capabilities; approximately 15.0% will be allocated to strategic acquisitions and investments; and approximately 10.0% will be used for working capital and general corporate purposes, including advance payments to secure critical materials and components from suppliers.

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Edited by/Joe

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