On the first day of its new listing, "the world's first company specializing in silicon photonics chips," Xizhi Technology-P (01879), surged more than 407% at the opening. The cornerstone subscription ratio reached a near-record high in recent years.

Xi Zhi Technology (01879) made its debut on the stock market, with the announcement showing that each share was priced at HK$183.2, with a total issuance of 13.7952 million shares, and 15 shares per hand, netting approximately HK$2.377 billion. The stock surged over 407% in the early trading session, and at the time of writing, it had risen 368.89% to HK$859, with a trading volume of HK$4.618 billion. According to Frost Sullivan data, Xi Zhi Technology is the world's first company to achieve large-scale deployment of optical-electrical hybrid computing power. Based on revenue projections for 2025, the company ranks first in China as an independent Scale-up optical interconnect solution provider with a market share of 88.3%. It is also the only independent supplier in the market capable of providing integrated large-scale Scale-up optical interconnect solutions. For two consecutive years in 2024 and 2025, the company's shipments of optical computing chips have ranked first in the world. It is worth noting that in this IPO, Xi Zhi Technology has brought in several cornerstone investors, including industry giants such as Alibaba, CMCC Capital, Lenovo, ZTE, and other AI computing industry leaders, as well as international sovereign funds and major funds such as GIC, BlackRock, Fidelity International, Baillie Gifford, Schroders Global, Temasek, and UBS. It has also attracted top domestic private equity funds like Hillhouse Capital and Jinglin Capital, technology industry multi-strategy funds like 3W and Aspex, as well as mainstream investors like Ping An Asset Management, GF Fund, and ICBC Wealth Management. The cornerstone investors will subscribe to shares at a price of US$200.9 million (HK$1.644 billion), accounting for 71.54% of the total offering, setting a new high for cornerstone subscription ratio in recent Hong Kong IPOs.