Huagong Tech eyes Hong Kong listing amid AI infrastructure boom

Huagong Technology Industry Co Ltd, a China-based laser and optoelectronic company, is seeking a Hong Kong listing as it accelerates global expansion and taps growing demand for artificial intelligence infrastructure.

The Shenzhen-listed company submitted an application for a proposed H-share listing on the main board of the Hong Kong Stock Exchange in April, with CITIC Securities acting as the sole sponsor.

The move comes as Huagong Tech's business structure is undergoing major changes. Its optical interconnect business, which provides high-speed optical modules for data centers, has become the company's largest revenue contributor, accounting for more than 42 percent of total revenue, the company said.

In 2025, Huagong Tech reported revenue of 14.36 billion yuan ($1.99 billion), up 22.59 percent year-on-year, while net profit rose 20.48 percent to 1.47 billion yuan, according to the company.

Industry experts said the rapid growth of AI computing is driving strong demand for high-speed optical modules.

Huagong Tech said orders for its 800G and 1.6T optical modules have been fully booked through the fourth quarter of 2026. The company has set a target of shipping 13 million to 15 million AI optical modules this year.

Proceeds from the proposed Hong Kong listing will be used to build a next-generation ultra-high-speed optical module research and manufacturing base, accelerate the commercialization of MEMS sensors, upgrade intelligent manufacturing capabilities and replenish working capital.

Founded in 1999, Huagong Tech was listed on the Shenzhen Stock Exchange in 2000. The company has been expanding production capacity in Thailand, Vietnam, Hungary and South Korea as part of its broader efforts to boost overseas sales.