New stock news | Xi Zhi Technology submits listing application to Hong Kong Stock Exchange to reshape global computing power supply with optical-electric hybrid new paradigm.

According to the disclosure by the Hong Kong Stock Exchange on March 30th, Shanghai Xizhi Technology Co., Ltd. (referred to as Xizhi Technology) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and Guotai Haitong serving as its joint sponsors. The prospectus shows that Xizhi Technology is focused on the field of optoelectronic hybrid computing power and is an innovative paradigm that combines the advantages of photonics and electronics. Since its establishment, the company has built a portfolio of products and solutions based on self-developed optoelectronic hybrid chip technology with optical interconnection and optical computing as core, providing scalable and cost-effective solutions. According to Frost & Sullivan data, the company is the first globally to achieve large-scale deployment of optoelectronic hybrid computing power. The rapid development and application of generative AI are reshaping the demand for computing power, with a continuous shortage in supply. Optoelectronic hybrid computing power addresses the shortage problem by providing more efficient single-chip computing and optical interconnection, significantly reducing customers' computing costs, and becoming an important direction in the evolution of computing infrastructure, promising to drive significant performance improvements. With its optoelectronic hybrid computing power products and solutions, the company is poised to take the lead in the global optoelectronic hybrid computing power market. According to Frost & Sullivan data, by 2025, the market penetration of optical computing chips in Chinese AI inference chips is less than 0.5%, and is expected to reach 20% by 2040. The Chinese market has rapidly risen to become a benchmark in global computing power development. The company aims to strengthen its leadership position in the global market by continuously increasing market penetration and actively expanding market share. The company's product portfolio addresses the rapid expansion of market demand driven by artificial intelligence, particularly in large language model training and deployment, through two complementary lines of innovative growth: optical interconnection, which overcomes the physical bottlenecks of traditional electronic interconnection by providing scalable, low-latency, and high-energy-efficient connections for Scale-up and Scale-out architectures; and optical computing, which utilizes the unique physical properties of light to surpass the performance and efficiency limitations of traditional electronic processors. As of March 23, 2026, the company has commercialized the following products: Scale-up EPS, Scale-up OCS, and intelligent transceivers supporting NexusBench in the optical interconnection product line; and PACE, OptiHummingbird, Gazelle, and PACE 2 (Xizhi Tian Shu) in the optical computing product line. The company has engaged in deep cooperation with leading enterprises and achieved commercial deployment in a wide range of downstream applications such as electronic design automation and AI-related tasks. According to Frost & Sullivan data, by 2031, the scale of the Chinese Scale-up optical interconnection and optical computing markets is expected to reach RMB 270.4 billion and RMB 2.546 billion respectively. The company anticipates that around 2035, optical computing and electronic computing products and solutions will coexist on a large scale. Financially, in the fiscal years 2023, 2024, and 2025, the company's revenues were approximately RMB 38.235 million, RMB 60.191 million, and RMB 106 million respectively; during the same period, the company's gross profits were RMB 23.203 million, RMB 32.213 million, and RMB 41.468 million respectively.