Zhongji Innolight, a Chinese optical transceiver maker used in AI data centres, trades lower shortly after its Hong Kong Stock Exchange debut on Thursday. Multiple reports say the share price falls as investors react to a broader global downturn in sentiment toward the artificial intelligence sector.
By late morning, the company’s shares decline on the day, with one report citing a drop of about 2.86% to HK$953 by 9.33am. Another outlet also describes the stock as slipping following the start of trading, framing the move around the backdrop of an AI-related sell-off.
Prior to the listing, Zhongji Innolight completes its initial public offering on the Hong Kong market, which is described as the largest IPO in Hong Kong for the year at the time of publication. One source reports that the offering raises HK$53.4 billion, while another notes the overall IPO size in U.S. dollar terms. The reported drop occurs despite investor interest around the debut and the company’s position in supplying components for AI infrastructure.
