[News] Global Memory Interconnect Leader Montage Technology Rides AI Data Center Boom to HK IPO

As 2026 gets underway, China’s capital markets are already heating up with chip IPOs. Montage Technology, a designer of chips that speed data flows across data centers and AI accelerators, soared 57% on its Hong Kong debut February 9, backed by cornerstone investors including JP Morgan and Alibaba, according to Anue and ijiwei.

Bloomberg, citing Montage’s Hong Kong listing prospectus, notes that the company ranked as the world’s largest memory interconnect chip supplier in 2024, commanding over one-third of global revenue share. Anue adds that the Chinese chipmaker, which produces PCIe retime chips and CXL MXC (Memory eXpander Controller) chips, counts Intel, AMD, and Samsung among its key customers, tightly aligned with the global buildout of AI data centers.

In 2024, Montage reported RMB 3.64 billion in revenue and RMB 1.34 billion in net profit, according to Anue. Bloomberg adds that 2025 net income came in at RMB 2.15–2.35 billion, with analysts projecting it could reach RMB 3.3 billion in 2026.

Based in Shanghai, Montage Technolgy is the latest in a string of China-based AI and semiconductor firms tapping capital markets, following January listings by GigaDevice Semiconductor and OmniVision Integrated Circuits, as noted by Bloomberg. Its offering also drew overwhelming demand from global investors, with its Hong Kong public tranche 707.3 times oversubscribed and the international placement 37.67 times covered, according to Anue.

Notably, Anue reports that Montage’s Hong Kong debut is a strategic move to establish an “A+H” dual-capital platform, following its 2019 STAR Market listing. Bloomberg notes the shares opened at HK$168, after a sale priced at HK$106.89, the top of the range—still a 44% discount to its Shanghai stock, which closed at RMB 170.90 the previous day.

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(Photo credit: Montage Technology)