Apple supplier Luxshare Precision Industry passes hearing for Hong Kong listing

Luxshare Precision Industry, a key player in Apple’s AirPods and iPhone supply chains, passed a listing hearing for the Hong Kong Stock Exchange (HKEX), joining a wave of mainland Chinese technology manufacturing giants seeking diversified capital in the city.
The Shenzhen-listed firm cleared the regulatory hurdle for a Hong Kong listing on Tuesday, days after receiving a greenlight from the China Securities Regulatory Commission for the offshore plan.
The deal counts Citic Securities, Goldman Sachs and China International Capital Corporation as sponsors, according to a company filing to HKEX.
Based in Shenzhen, Luxshare was set up as a cable connector business in 2004, and expanded to become a prominent player in the Apple supply chain in China. Luxshare is a precision component supplier and assembler of Apple products, including AirPods, the iPhone and its mixed-reality headset Vision Pro.
Luxshare has also been actively diversifying beyond consumer electronics to new growth areas including automotive, data centres and robotics.
The company’s revenue reached 332 billion yuan (US$48.82 billion) in 2025, a 24 per cent jump compared to the previous year. While consumer electronics remains its key business, comprising nearly 80 per cent of its total revenue last year, the company has seen sales from its automotive segment nearly triple year on year to account for 12 per cent of its revenue.
Net profit surged 24 per cent to 16.6 billion yuan in 2025, according to its prospectus.

China’s electronics supply chain is doubling down on diversification amid soaring costs and a memory supply crunch. Global smartphone shipments were expected to drop 13.9 per cent in 2026, marking the steepest annual decline on record, according to forecasts by Counterpoint Research.
Wang Laichun, the 57-year-old low-profile founder and chairwoman of Luxshare, told Chinese media in 2024 that the company was seeking to pivot to being a “solutions provider” rather than just a contract manufacturer.
Wang was among the first 150 employees hired by Foxconn Technology Group, the world’s largest contract electronics manufacturer, at its inaugural factory in Shenzhen in the 1980s.
Wang later left the factory assembly line and established Luxshare, which eventually emerged as a significant rival to Foxconn and a crucial component in Apple’s global supply chain.
Prices for the company’s Shenzhen-traded shares have jumped 120 per cent in the past year, driving Luxshare’s market capitalisation to nearly 500 billion yuan.
Luxshare is joining a wave of mainland tech supply chain giants to seek offshore listings in Hong Kong. Another Apple supplier Lingyi iTech is seeking to raise up to HK$8.3 billion (US$1.05 billion) in its Hong Kong debut this Friday.