Zhongji Innolight, the Chinese AI component maker founded by billionaire Wang Weixiu, fell as much as 9.8% during its Hong Kong market debut on Thursday as global investors unwound their AI bets amid rising concerns that the market is getting overheated.

The company later pared some of the losses to end the day about 4% lower. Already listed in Shenzhen, it raised HK$53.4 billion ($6.8 billion) earlier this month by selling 54.5 million shares at HK$980 apiece in Hong Kong.

The share sale is the largest in the Asian financial hub in years, and the listing is the second largest in Asia in 2026, after Chinese chipmaker CXMT’s $8.6 billion initial public offering, also in July. Zhongji Innolight........

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