IPO News | Najun Technology ranked fifth with 4% global optical module market share through the Hong Kong Stock Exchange

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on August 30, Nazhen Technology (Najun Technology for short) passed the Hong Kong Stock Exchange main board listing hearing, and Citibank and CITIC Securities were its co-sponsors.

According to the prospectus, Najun Technology is a mature supplier of optical communication and optical connectivity products. It is committed to R&D, manufacturing and sales of optical modules, optical chips and optical network terminals to provide services to domestic and foreign customers. In 2025, in terms of global optical module revenue, the company had a 4.0% market share, ranking fifth among all professional optical module manufacturers in the world; in terms of Chinese optical module revenue, the company had a 10.1% market share and ranked third among all professional optical module manufacturers in the world. The company is also one of the few enterprises in the world that also has R&D and production capabilities for optical modules and optical chips.

The company has 1,581 patents and 716 pending patent applications worldwide. It is an initiator or member of 18 industry standardization organizations, and participates in the formulation of 61 industry standards. With a cross-regional R&D network in Qingdao, Wuhan, Silicon Valley and Singapore, the company has accumulated core technologies and products covering all major links in the optical communications value chain. In the field of optical module products, the company has proprietary capabilities in circuit design and core packaging technology, including transistor outline packaging (TO-CAN), BOX, on-board chip packaging (COB), and silicon optical packaging technology. In the field of optical chip design, the company has successfully developed two mature processing platforms for buried heterogeneous and ridged waveguides. The company also has the exclusive ability to develop a variety of optical network terminal products.

The company currently has four manufacturing sites in Qingdao, Jiangmen, Thailand and the United States. In 2023, 2024, 2025 and the six months ended June 30, 2026, the utilization rates of optical modules at the Qingdao base were 61.5%, 76.2%, 76.0% and 65.6%, respectively; the utilization rates of optical chips were 68.2%, 42.7%, 72.2% and 94.1%, respectively; the utilization rates of optical modules at the Jiangmen base were 64.1%, 84.9%, 83.4% and 76.3%, respectively. The utilization rates of optical network terminals were 76.5%, 74.0%, 72.6% and 75.9%, respectively; and the Thailand base's The utilization rates of optical modules were 37.1%, 68.3%, 65.0%, and 69.6%, respectively. The company is upgrading and expanding its optical module and optical chip manufacturing bases in China, Thailand and the United States. The company also plans to build a new R&D and manufacturing base in Xiamen to focus on the R&D and production of high-end laser chips.

On the financial side, in the six months ended June 30 in 2023, 2024, 2025, and 2026, the company achieved revenue of approximately RMB 4.239 billion, RMB 5,087 billion, RMB 8.355 billion, and RMB 5.393 billion, respectively. In the same period, it recorded annual/period profits of approximately RMB 216 million, RMB 89.49 million, RMB 873 million, and RMB 661 million, respectively.