SiZhi Technology (1879.HK) was officially approved for inclusion in Stock Connect after the quarterly adjustment took effect on September 7, opening a Southbound capital channel for the all-optical architecture system-level computing solution provider, which listed on the Hong Kong Stock Exchange in April. Financially, SiZhi Technology generated revenue of 79.78 million Yuan in the first half of 2026, up 284% year over year; optical interconnect revenue was 60.7 million Yuan, accounting for approximately three-quarters of total revenue.
Stock Connect adjustment takes effect on September 7: SiZhi Technology approved for inclusion this round
SiZhi Technology listed on the Hong Kong Stock Exchange in April 2026 and was officially approved for inclusion after the quarterly Stock Connect adjustment took effect on September 7 this year. Stock Connect connects mainland Southbound capital with stocks listed on the Hong Kong Stock Exchange; for included stocks, joining Stock Connect means that institutional capital from mainland mutual funds, private funds, insurance companies, and other institutions can buy them directly through compliant channels. Liquidity in the Hong Kong stock market is highly differentiated, and some newly listed technology companies face liquidity discounts due to limited participating capital. After SiZhi Technology joins Stock Connect, its existing liquidity discount is expected to improve.
Shenwan Hongyuan pointed out that there is currently no other listed company in the A-share or Hong Kong stock markets that simultaneously focuses on optical interconnect and optical computing as core businesses while possessing original chip-level design capabilities. SiZhi Technology's uniqueness may be recognized by a broader range of capital after joining Stock Connect.
MiniMax as a Stock Connect reference: More than HK$10.6 billion purchased in August, surpassing Alibaba and Tencent
MiniMax was included in Stock Connect on August 6, 2026, and immediately attracted substantial attention from Southbound capital. In August 2026, mainland investors purchased approximately HK$10.6 billion worth of MiniMax shares through Stock Connect, exceeding their purchases of Alibaba and Tencent during the same period. Since joining Stock Connect, MiniMax's share price has risen by more than 50% cumulatively. This case provides a direct reference for the impact of Stock Connect inclusion on the capital markets of recently listed technology companies during the same period. Inclusion not only brings additional trading channels but also drives an improvement in liquidity discounts and renewed marketcap discovery.
SiZhi Technology H1 2026 financial data and product layout
SiZhi Technology generated revenue of 79.78 million Yuan in the first half of 2026, up 284% year over year; optical interconnect revenue was 60.7 million Yuan, accounting for approximately three-quarters of total revenue and becoming the main pillar of current commercialization.
Key For Sale products include:
Scale-up EPS and OCS: Optical interconnect products for internal connections within supernodes, with commercial shipments already underway
NPO and CPO: Further optical interconnect products currently undergoing validation and industrialization
PACE2: Optical computing product with ongoing shipments, expanded from low-latency inference scenarios to vertical fields such as edge computing
PACE3: Next-generation optical computing product; both the optical and electrical chips have completed tape-out
Several brokerages maintained or raised their target prices above HK$600 after the interim results were announced, with some also raising their ratings. SiZhi Technology adopts an asset-light chip design model, with core competitiveness in underlying optoelectronic chips, original IP, and system architecture rather than the scale of factories and production lines.
Four major Scale-out companies' combined marketcap exceeds 1.9 trillion Yuan
As of the close on September 4, 2026, the combined marketcap of major Scale-out optical module companies, including Innolight, Eoptolink, Luxshare Precision, and Accelink Technologies, exceeded 1.9 trillion Yuan. The sector has become a major focus of market attention as it has grown alongside AI data center construction; SiZhi Technology's Hong Kong marketcap was approximately HK$35 billion. Scale-out addresses connections among servers, racks, and data centers, while Scale-up addresses high-speed connections among the large number of GPUs within a supernode.
As AI cluster sizes expand, the speed and bandwidth of data exchange among GPUs within supernodes directly affect overall computing efficiency. The market importance of Scale-up continues to rise, but the A-share and Hong Kong stock markets currently still lack an independent, pure-play listed company in this area. SiZhi Technology fills this gap after joining Stock Connect.
Frequently Asked Questions
When did SiZhi Technology (1879.HK) join Stock Connect?
The Stock Connect quarterly adjustment officially took effect on September 7, 2026, and SiZhi Technology was included from that date, marking its first inclusion in the Stock Connect system since listing on the Hong Kong Stock Exchange in April 2026.
How did SiZhi Technology perform in the first half of 2026?
SiZhi Technology generated revenue of 79.78 million Yuan in the first half of 2026, up 284% year over year; optical interconnect revenue was 60.7 million Yuan, accounting for approximately three-quarters of total revenue.
What was the outcome of MiniMax's inclusion in Stock Connect?
MiniMax was included in Stock Connect on August 6, 2026. During that month, mainland investors purchased approximately HK$10.6 billion worth of its shares through Stock Connect, exceeding their purchases of Alibaba and Tencent during the same period; its share price has risen by more than 50% cumulatively since joining Stock Connect.
