Liu Sheng, Chairman and CEO of Zhongji Innolight (centre R) poses after banging the gong at the start of trading with his director Wang Xiaodong (centre L) during the launch of the company's initial public offering (IPO) at the Hong Kong Exchanges and Clearing Limited (HKEX) in Hong Kong on July 30, 2026. (Photo by Peter PARKS / AFP via Getty Images)