Last updated 18:15:59
HK$971.00
-0.92%
- Listing price
- HK$980.00
- Open
- HK$950.00
- High
- HK$982.00
- Low
- HK$931.00
- Bid / Ask
- HK$971.00 / HK$972.00
- Volume
- 650,800
Turnover 629,422,300View source
ZJ INNOLIGHT
03308A+HListed其他 · 公司是光互连解决方案提供商，主要产品为光收发器，用于在云和AI基础设施中实现高速、低延迟的数据传输。
ZJ INNOLIGHT (中際旭創) (03308) is a listed Hong Kong IPO. This page brings together the offer price, entry fee, subscription timeline, grey-market context, allotment data and stage-based reference research in one place.
- Offer price
- HK$980.00
- Final offer price
- HK$980.00
- One-lot win rate
- 70.0%
- Proceeds
- HK$53.41B
- Public oversub.
- 16.8x
Predicted 13.0%
Lot / entry fee 50 shares · HK$49K · Sponsor Goldman Sachs / CICC / Morgan Stanley / GF Capital
- Offer starts Jul 22
- /Offer closes Jul 27
- /Grey market Jul 29
- /Listing Jul 30Now
SubscriptionZJ INNOLIGHT: subscription-stage reference
The subscription stage draws on the prospectus, sponsor record and early public filings. Allotment results and grey-market prints have not occurred yet.
Earlier stage- Reference rating
- Cautious
- Reference score
- 51.4
- Forecast grey range
- -17.8% – +5.3%
Pre-greyZJ INNOLIGHT: pre-grey-market reference
The pre-grey stage includes published allotment and public oversubscription data. Grey-market prints are not yet reflected here.
Earlier stage- Reference rating
- Cautious
- Reference score
- 50.1
- Forecast grey range
- -23.5% – +1.1%
Post-greyZJ INNOLIGHT: post-grey-market reference
The post-grey stage includes grey-market price and turnover observations. Listing-day results still follow official trading and company announcements.
Current- Reference rating
- Cautious
- Reference score
- 47.9
- Forecast first-day range
- -7.8% – +2.2%
View factors and research
Model forecastListing-day trendHigh cautionUp probability 40.0%
Published outcome check
First-day resultFlat-2.0%
Our call: Trend call valid
Covered 22/25 core factors
UsedMissingNot yet scorableN/A
Margin oversubscription
Weak heatOffer size
Weak qualityCornerstone lockup
Strong supportPost-lockup offer value
Weak scarcityRecent same-rule trend
Poor trendRecent same-type trend
Poor trendRecent sector trend
Strong trendValuation
Weak appealFundamental quality
Good qualityGrowth quality
High qualityProfitability
High qualityCash runway
—Customer concentration
—Cornerstone quality
Strong supportSponsor record
Strong recordGreenshoe arrangementGreenshoe: yes · 15%
Average supportStabilizer track recordGoldman Sachs
Average recordA-share pre-grey trend
Poor trendA-share listing-day trend
Poor trendPublic oversubscription
Weak heatOne-lot win rate
Weak heatInternational placing
High heatFinal pricing position
—Actual greenshoe useCumulative use +43.4%
Weak supportGrey market return
Poor trendThe assessment and probability ranges are informational only and are not investment advice.
AI Research Report
Post-greyThe analysis report for this IPO is being generated.
ZJ INNOLIGHT: grey-market trend
ZJ INNOLIGHT: predicted allotment
Only key tiers are shown here. Full tiers and other allotment-pattern comparisons are on the allotment-odds page.
- 1 lot
- 13.0%
- A tail · Apply 80 lots
- 3.68 lots
- B head · Apply 100 lots
- 3.51 lots
- Top hammer
- 1,914.57 lots
Official 70.0%
Official 3 lots
Official 6 lots
Predicted
Most likely allotment pattern：Pool A is closer to allotment by application size；Pool B allotment is similar across tiersView full allotment-odds research
How to read this page
These answers combine this IPO’s published figures with clearly labeled model estimates. They explain how to read the modules above and are not investment advice.
What is the one-lot allotment rate for ZJ INNOLIGHT?
Public allotment filings put the official one-lot rate at 70.0%, versus this site's pre-allotment model estimate of 13.0%. It is an observation for a 1-lot application, not a guaranteed result.
What is the difference between A-tail and B-head for ZJ INNOLIGHT?
Based on the prospectus's legal application tiers, A-tail is 80 lots and B-head is 100 lots, representing about HK$3.9M and HK$4.9M of application principal. Official average allotment was 3 lots and 6 lots, versus pre-allotment model estimates of 3.68 lots and 3.51 lots. Pool A and Pool B are allocated separately, so application size alone does not show capital efficiency.
Can the grey-market price of ZJ INNOLIGHT be treated as the listing price?
The compiled grey-market observation is about -1.0%, versus -2.0% on the listing day. Grey-market prints are pre-listing sentiment from public sources, not the official opening price.
Why does ZJ INNOLIGHT have three reference ratings?
The current status is "Listed", so start with the post-grey section. Subscription, pre-grey and post-grey each use only the public information available at that point, so the score can change. Labels are high attention / neutral / caution only — informational comparison, not a buy or subscribe call.