Luxshare Precision Industry, a major Apple supplier and one of China’s largest electronics manufacturers, fell more than 5% in its first day of trading on the Hong Kong Stock Exchange on Thursday. The company’s shares changed hands at HK$60 in early trading, below the IPO price of HK$63.28.
The listing raised HK$24.27 billion, or about $3.09 billion, making it the biggest Hong Kong initial public offering so far this year, according to the report. Luxshare is already listed in Shenzhen, where its shares closed at 62.47 yuan on Wednesday, down 1.28%.
Business mix and expansion plans
Luxshare began as an assembler of Apple’s AirPods and has since expanded into parts for consumer electronics, automotive electronics, communications equipment and data centers. The company said in its prospectus that 2025 revenue reached 332.34 billion yuan, up from 268.79 billion yuan in 2024, with consumer electronics accounting for 79.5% of sales. Automotive electronics contributed 11.8%, while communications and data centers made up 7.4%.
According to PitchBook, Apple accounts for about 70% of Luxshare’s revenue. Founded in 2004 by Wang Laichun, who remains chief executive, the company is still family controlled, with Wang Laisheng serving as vice chairman. Luxshare also said it may consider future acquisitions and strategic partnerships, following a history of dealmaking that includes lifting its controlling stake in German automotive cable and harness maker Leoni AG to 74.9% in April 2026. The company joins a busy week for Hong Kong listings, alongside autonomous-driving startup Momenta and semiconductor foundry Nexchip.
Source: cnbc.com
