On January 23, 2026, the China Securities Regulatory Commission (CSRC) officially disclosed the IPO tutoring and filing report for the initial public offering of shares by Shanghai Xihe Technology Co., Ltd. (hereinafter referred to as “Xihe Technology”), marking the official launch of the preparation work for this national-level specialized, sophisticated, distinctive and innovative “Little Giant” enterprise to list on the capital market. It is reported that Xihe Technology has signed an IPO tutoring agreement with Guotai Haitong Securities on January 19, laying a solid foundation for its subsequent capitalization journey and injecting strong impetus into the domestic silicon photonics sensing track.
A “Little Giant” Marches Toward Capital Market
As a benchmark enterprise in the silicon photonics sensing field, Xihe Technology was founded in May 2021, with its headquarters rooted in the Shanghai Lingang Special Area and R&D center located in the Caohejing Hi-Tech Park. The company has risen rapidly by virtue of profound technical accumulation and accurate track positioning. Focusing on the full industrial chain layout of silicon-based photonic integrated chips and components, covering the core links of design, manufacturing, packaging and sales, Xihe Technology provides a complete set of chip R&D solutions. Its products are widely applied in traditional core scenarios such as cloud computing centers, supercomputers and 5G, and have also explored broad markets in autonomous driving, healthcare, semiconductor testing, industrial automation and other fields, emerging as an important force driving the transformation and upgrading of high-end manufacturing.
Technological Strength Aligns with Industry Trends
As a core driver supporting the development of a new generation of information technology, silicon photonics technology realizes high-speed, low-power-consumption and highly integrated optical signal processing and transmission through the in-depth integration of photonic devices and silicon-based semiconductor processes, and is accelerating its penetration from traditional advantageous fields to emerging scenarios. According to forecasts by Yole Group, the global silicon photonics market scale reached 1.4 billion US dollars in 2024 and is expected to surge to 6.1 billion US dollars by 2031, with a compound annual growth rate (CAGR) of 22.4%. Among them, data communication and AI computing power networks are the core growth drivers. Xihe Technology’s core product and technology layout aligns precisely with this industry development trend.
The company’s outstanding performance in the highly competitive silicon photonics track is inseparable from its strong technological strength. Up to now, Xihe Technology has won a number of important qualification certifications including the national-level specialized, sophisticated, distinctive and innovative “Little Giant” enterprise and “Enterprise Technology Center”. By 2025, it has built a comprehensive technology matrix covering 21 patents, with key technologies fully covering photoelectric sensing and precision optical components. Its independently developed 400G/800G high-speed silicon photonics chips and components provide core support for data centers to break through high-speed transmission bottlenecks, meeting the bandwidth demand against the backdrop of the explosive growth of AI computing power. Its FMCW LiDAR (Light Detection and Ranging) chips have become key components for high-precision environmental perception in autonomous driving, adapting to the integration and low-power-consumption trend of LiDAR chips. Relying on these technological achievements, the company has successfully broken the long-term dependence on imported technologies in related fields and realized the independent and controllable development of core technologies.
Team, Governance & Capital Recognition
Behind the technological breakthroughs stands a top-tier R&D team. Wu Aimin, the founder, chairman and general manager of Xihe Technology, holds a master’s degree from the School of Information Science and Engineering of Fudan University and has long been engaged in cutting-edge research in the silicon photonics field. In 2021, Wu Aimin co-founded Xihe Technology with overseas industrial talents, deeply integrating scientific research achievements with industrial demands, and building a core team for the company that combines academic sophistication with industrial implementation capabilities.
In terms of equity structure, Xihe Technology has a clear and stable governance framework. Shanghai Xijing Management Consulting Partnership (Limited Partnership) is the controlling shareholder of the company, holding a direct stake of 37.2414%. Through three management consulting partnerships including Shanghai Xijing, Shanghai Hanrui and Shanghai Hanxi, Wu Aimin holds a combined voting right of 48.2316% in the company, becoming the actual controller, which provides a solid guarantee for the implementation of the company’s long-term strategy and the direction of technological R&D.
The capital market has a high recognition of this silicon photonics “Little Giant”. Since September 2021, Xihe Technology has successfully completed 8 rounds of financing, attracting investment from a number of well-known institutional investors such as Yuanhe Origin, SMIC Capital, Jinpu Investment, Fortune Capital and Puhua Capital.
Industry insiders stated that driven by the dual backgrounds of AI computing power and the upgrading of high-end manufacturing, the silicon photonics sensing track is ushering in a golden period of development. As a national-level specialized, sophisticated, distinctive and innovative “Little Giant”, Xihe Technology is expected to further expand its competitive advantages with the support of the capital market by virtue of its technological barriers, team advantages and full industrial chain layout, and accelerate the import substitution process of domestic silicon photonics chips.
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