Cailian Press reported on November 4 that according to the China Securities Regulatory Commission (CSRC) website, Shanghai-based optical computing and optical interconnect company Sunrise Technology registered for listing tutoring with the Shanghai Securities Regulatory Bureau today, initiating its A-share IPO process. The tutoring institution is Guotai Haitong Securities.
On April 28 of this year, Sunrise Technology was listed on the Main Board of the Hong Kong Stock Exchange as the "first global AI silicon photonics chip stock." The filing time for this A-share listing is only about six months after its HKEX listing.
As of today's close in Hong Kong, Sunrise Technology's share price stood at HKD 161.4 per share (approximately CNY 137.37), up 2.8%, with a market capitalization of HKD 15.178 billion (approximately CNY 12.922 billion).
Founded in 2017, with its domestic entity established in 2018, Sunrise Technology is the world's first company to achieve large-scale deployment of optoelectronic hybrid computing power. It has successfully deployed three 1,000-GPU optical interconnect clusters end-to-end, and its optical computing chips have ranked first in global cumulative shipments for two consecutive years. Its core team consists of top scientists from MIT and industry experts with extensive semiconductor experience. The company has offices and laboratories in Shanghai, Hangzhou, Nanjing, Beijing, Singapore, and other locations. Among Sunrise Technology's two co-founders, Chairman, Executive Director, and CEO Shen Yichen holds a PhD in Physics from MIT. In June 2017, he published a cover paper as the first author in the top international academic journal Nature Photonics, proposing for the first time the use of coherent nanophotonic circuits for deep learning, which is widely regarded as a breakthrough in the field of optoelectronic hybrid computing.
Executive Director and CTO Dr. Meng Huaiyu holds a PhD in Electrical Engineering from MIT. During his studies, he participated as a core member in the research and development of multiple key devices for the world's first on-chip optical network project. In 2018, he published a paper in Nature detailing research results on integrating photonics and silicon nanoelectronics to realize next-generation systems on chip.
In terms of technology and products, Sunrise Technology currently has business layouts in optical computing, optical interconnect, and optical switching. In the optical computing sector, Sunrise Technology has launched multiple generations of optoelectronic hybrid computing accelerator cards. Among them, the PACE 2 optoelectronic hybrid computing accelerator card has been commercialized and is integrated into Tian Shu · Guang Li Fang, the world's first optoelectronic hybrid computing all-in-one box launched by Sunrise Technology.
Sunrise's next-generation optoelectronic hybrid computing accelerator card PACE 3 completed tape-out in June of this year. After the electrical chip packaging and system integration are completed, it is expected to be applied in high-throughput, low-latency large model inference scenarios. In the optical interconnect sector, Sunrise has laid out two major technical routes: NPO and CPO. Its self-developed NPO near-packaged optics chip has completed full-link verification. Additionally, it jointly released xPU co-packaged prototypes and CPO optoelectronic co-packaging solutions with domestic manufacturers.
In the optical switching sector, Sunrise's LightsphereX distributed OCS all-optical super node has achieved deployment at a scale of 2,000 cards. The "Domestic High-Performance Matrix Super Node Based on OEX+dOCS Architecture," developed in collaboration with ZTE, Biren Technology, MetaX, Enflame Technology, and Tianshu Zhixin, won the highest award, the SAIL Award, at this year's WAIC. In August of this year, Sunrise disclosed its first interim report since listing. For the first half of 2026, its operating revenue was CNY 79.78 million, a year-on-year increase of 284%. Among this, optical interconnect business revenue was CNY 60.7 million, up 275% year-on-year, and optical computing business revenue was CNY 19.08 million, up 313% year-on-year. During the same period, its comprehensive gross margin was 65.8%, adjusted net loss was CNY 147 million, and cash balance was CNY 2.859 billion.
Conclusion: Rising Financing Heat in Optical Computing, Accelerating Commercialization Progress
Since the beginning of this year, financing heat in the domestic optical computing industry has risen significantly in both primary and secondary markets. Multiple optical computing companies have secured funding in the range of hundreds of millions to one billion yuan in the primary market. Meanwhile, as they gradually move past the technology verification phase, domestic optical computing companies are also conducting commercialization attempts in segmented fields such as large model inference, scientific computing, edge intelligence, and communications. Subsequent progress is worth watching.