China’s digital infrastructure ambitions are taking another bold step. Range Intelligent Computing Technology Group Co.—a fast-rising data center operator with strong AI capabilities and ties to ByteDance—is reportedly exploring a secondary listing in Hong Kong. This move could mark a major milestone in China’s ongoing strategy to strengthen regional financial ties and sidestep Western regulatory scrutiny.
A Shift from Shenzhen to Hong Kong
Currently valued at around US$10.3 billion and listed on the Shenzhen Stock Exchange, Range Intelligent is quietly in early talks with advisors to bring part of its business to Hong Kong. If successful, this secondary listing would not only unlock new investor pools but also deepen the company’s exposure to international capital—on China’s terms.
For context, Hong Kong has had a strong IPO rebound in 2025, with over 40 new listings raising more than HK$108 billion in the first half of the year. As China pushes to reduce its dependence on U.S. markets, Hong Kong is re-emerging as the go-to launchpad for global ambitions.
Data Centers Powering the AI Future
Range Intelligent has transitioned from its humble 2009 roots as a packaging company into a critical backbone of China’s AI infrastructure. Its high-performance data centers support AI-heavy workloads, including those from ByteDance—the company behind TikTok. With demand for compute power surging globally, this move positions Range Intelligent at the heart of the next wave of cloud and AI growth.
The Hong Kong data center market itself is booming. Colocation revenue is projected to nearly double from US$1.4 billion in 2025 to over US$2.5 billion by 2030. Hot zones like Tseung Kwan O offer reliable power, subsea cable access, and ideal conditions for high-density AI computing.
Aligned with China’s Tech Vision
This potential Hong Kong listing is more than just financial maneuvering—it mirrors China’s broader push to localize and lead in strategic sectors like cloud, 5G, and AI. Range Intelligent is already riding that wave, operating both standard Internet Data Centers and advanced AI Data Centers built for machine learning and large-scale compute.
Earlier this year, investor excitement around China’s DeepSeek AI initiative sent the company’s stock soaring. Though shares have since cooled, the firm remains a key player in China’s AI infrastructure playbook—proof of how strategic data has become.
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