Ligent Technology (9856.HK) Debuts on HKEX Today: International Capital Fuels Rapid Growth of AI Optical Interconnection Industry
9/22/2026, China Fiber Optics Online news — Today, Ligent Technologies, Inc. ("LIGENT") (Stock Code: 9856.HK), a globally leading full-stack solution provider for optical communications and optical connectivity and a core enterprise in AI interconnect optical chips and high-speed optical modules, officially listed on the Main Board of the Hong Kong Stock Exchange, successfully embarking on a new journey of international capital development. This Hong Kong stock listing marks that this industry leader, which has been deeply engaged in the optical communications field for more than twenty years, is formally leveraging international capital to accelerate its layout in the global AI computing infrastructure track.
Opening a new era of corporate development
In this global offering, LIGENT offered 172,014,700 shares, with an over-allotment option of no more than 25,802,200 shares. The offer price was set at HK$32.96 per share, and the total gross proceeds from the base offering were approximately HK$5.67 billion.
More than twenty years of deep cultivation in the industry, building the core "high-speed road network" for AI computing
It is understood that LIGENT is a rare full-stack solution provider in the industry that possesses both independent R&D and large-scale mass production capabilities for AI interconnect optical chips and high-speed optical modules. The company started with telecommunications access business and, after more than twenty years of deep accumulation and multiple rounds of strategic iteration, has successfully transformed and upgraded from a traditional telecommunications optical communications enterprise into a core participant and technological driver in the construction of global AI computing infrastructure.
At present, the company has built a complete business matrix covering optical chips, high-speed optical modules, and optical network terminals. Its products comprehensively cover core scenarios such as AI intelligent computing and cloud computing, and broadly serve leading global cloud service providers, telecommunications equipment suppliers, and communications operators, completing a comprehensive transformation into a globalized AI optical interconnect platform enterprise. According to a Frost & Sullivan report, in 2025 the company ranked fifth in revenue among global professional optical module manufacturers and third in China, and ranked second among global professional optical network terminal providers.
Core technologies achieve independent breakthroughs, optical chip sales surge
LIGENT is a leading enterprise in technological innovation and breakthroughs in the optical communications industry. It is one of China's first manufacturers to successfully develop and produce 10G EML laser chips; one of China's first manufacturers to successfully develop and mass-produce 800G and 1.6T optical modules; and one of the world's first manufacturers to successfully develop 50G PON optical modules.
In September 2026, at the CIOE exhibition, it released a new generation of 6.4T/3.2T NPO series products, as well as the 12.8T XPO 8xDR8 optical module based on the LPO architecture, achieving multiple breakthroughs in single-module capacity, overall power consumption, and the level of independent controllability of core components, creating a "high-density, low-power, highly autonomous" end-to-end solution for AI data centers. The company's self-developed chips became fully commercially available at scale in the first quarter of 2026, with single-month sales in July increasing by approximately 18 times year-on-year — technological investment has officially entered a strategic harvest period. Relying on its "optical chip + optical module" vertical integration capability and independent core technological advantages, LIGENT has broken through the technological barriers in the high-end optical chip field.
In terms of R&D and global layout, the company has established an international high-end R&D team, accumulated 1,581 global patents, and led or participated in the formulation of 61 industry standards, with its core technological strength firmly ranking in the industry's first tier. At the same time, the company has built four major R&D centers in Qingdao, Wuhan, Silicon Valley, and Singapore, and established four major intelligent manufacturing bases in Qingdao and Jiangmen in China, as well as Thailand and the United States, forming a three-dimensional operating system of "cross-regional collaborative R&D, transnational flexible manufacturing, and global localized services," greatly enhancing the stability of the global supply chain and core competitiveness.
Business structure continues to optimize, becoming a high-quality scarce target in AI optical interconnection
With the explosive growth of the global AI computing industry, optical interconnection, as the core cornerstone of the digital economy and computing networks, is ushering in broad development opportunities. With its full industrial chain layout and independent core technological advantages, LIGENT has become a scarce target in AI optical interconnection highly recognized by the capital market.
Public performance data shows that LIGENT's transformation into the AI computing track has achieved remarkable results. In 2025, the company's revenue exceeded 8.355 billion yuan, and its core business structure continued to optimize, officially completing the strategic transformation from a traditional telecommunications optical module supplier to a core supplier of AI computing infrastructure. Relying on its global R&D and production layout, the company's overseas market share has steadily increased, enabling it to efficiently meet the localized delivery and technical service needs of global customers, with growth momentum continuing to be released.
Fundraising focuses on core tracks, leveraging international capital to accelerate takeoff
The funds raised in this Hong Kong stock listing will all focus on the development of the main business, with key investment in three core areas: first, tackling cutting-edge optical interconnection technologies and high-end product R&D, continuously breaking through core technologies for ultra-high-computing optical modules and high-end optical chips, and filling industrial technological gaps; second, upgrading global production capacity bases, optimizing the collaborative system of four major intelligent manufacturing bases and four major R&D centers, and consolidating the production capacity moat; third, deepening global market layout, expanding in-depth strategic cooperation with leading global cloud vendors, enhancing overseas localized service capabilities, and carrying out strategic integration of the industrial chain at appropriate times to improve the industrial ecosystem layout.
It is reported that after listing in Hong Kong, LIGENT will adhere to a prudent operating philosophy, continue to deepen its main business, iterate technology, and optimize product structure, fully release the profit potential of core technologies, and safeguard long-term shareholder value with steady performance growth. At the same time, the company will practice ESG development concepts, empower the high-quality development of the global digital economy and AI computing industry through technological innovation, and promote Chinese optical communications technology and standards to the world.
About LIGENT
Ligent Technologies, Inc. (9856.HK) is a core enterprise under the control of Hisense Group and one of the few full-stack optical connectivity solution providers in China with full-process independent R&D and mass production capabilities for optical chips and high-speed optical modules. The company focuses on the R&D of core optical communications technologies and product implementation. Its products are widely used in key fields such as AI computing networks, cloud computing, telecommunications transmission, and intelligent terminals. Relying on a global R&D and production service system, it continues to provide global customers with high-performance, highly reliable optical interconnection products and solutions, helping the high-quality development of the global AI computing industry and digital economy.
This article is reprinted from China Fiber Optics Online. The copyright of the original text belongs to China Fiber Optics Online.