Key facts
- Zhongji Innolight raised HK$53.4 billion ($6.8 billion) in its Hong Kong IPO.
- The company announced a $1.2 billion share buy-back program prior to its listing.
- Shares of Zhongji Innolight declined on their debut in Hong Kong.
- The stock's performance was impacted by a global sell-off in AI-related equities.
Shares in China's Zhongji Innolight fell in their Hong Kong debut on Thursday, July 30, 2026, after the supplier of key AI-related equipment raised HK$53.4 billion ($6.8 billion) in Asia's second-biggest listing so far this year. The company had previously announced a $1.2 billion share buy-back program intended to boost investor confidence. However, the stock's debut was impacted by a global sell-off in artificial intelligence-related equities.