Luxshare Precision Industry Co., a key supplier to Apple and a leading player in China's electronics manufacturing sector, plans to issue H-shares and list on the Hong Kong Stock Exchange (HKEX). The initiative aims to support its global expansion strategy, boost access to international capital, and improve corporate governance and transparency.
According to its filing, Luxshare is in discussions with financial advisers regarding the proposed Hong Kong IPO. While still in the early stages, the company confirmed that the listing would not affect its ownership structure or controlling shareholders.
The planned H-share offering remains subject to approval by Luxshare's board and shareholders, along with regulatory reviews by the China Securities Regulatory Commission (CSRC) and the HKEX.
IPO in Hong Kong to back overseas strategy
A Luxshare spokesperson said Hong Kong, as a global financial center, offers access to international capital and a broad investor base. Listing in Hong Kong would help diversify funding sources to support overseas expansion, technology development, and global manufacturing deployment.
The company also cited Hong Kong's flexible equity incentive tools as a key advantage in attracting and retaining global tech talent, which it views as essential to its international growth plans.
Founded in 2004 and listed in Shenzhen since 2010, Luxshare has grown into one of China's top electronics manufacturers. Its product lines span consumer electronics, communications, data centers, and automotive systems. It is best known for assembling Apple's AirPods and supplying components for iPhones.
Luxshare targets auto, data center markets
Luxshare is expanding beyond consumer devices into new growth segments, particularly automotive electronics. Its portfolio now includes wiring harnesses, connectors, smart cockpit systems, and advanced driver-assistance modules.
In September 2024, Luxshare acquired a 50.1% stake in Germany's Leoni Group for EUR525.41 million (US$619 million), along with full ownership of its subsidiary, Leoni K. The deal is intended to expand Luxshare's presence in the global automotive electronics market.
Luxshare also views the Hong Kong listing as a way to deepen technical collaboration with clients in the data center sector, accelerate product development, and enhance long-term customer engagement.
Solid financial momentum in 2024–25
In 2024, Luxshare posted revenue of CNY268.8 billion (US$37.5 billion), up 15.9% year-over-year, with net profit rising 22% to CNY13.37 billion. In the first quarter of 2025, revenue grew 17.9% to CNY61.8 billion, and net profit increased 23.2% to CNY3.04 billion.
As of July 2, 2025, Luxshare's A-share stock traded at CNY33.92, giving the company a market capitalization of around CNY246 billion.
Apple suppliers turn to Hong Kong listings
Luxshare joins a growing group of Apple supply chain partners pursuing Hong Kong listings. Lens Technology, a smartphone glass supplier, is set to debut on the HKEX on July 9, 2025, following its public offering phase.
Goertek Inc., another Apple partner, announced plans in September 2023 to spin off its subsidiary, Goertek Microelectronics, for a Hong Kong IPO.
Luxshare's IPO plan highlights a broader trend among Chinese tech firms seeking to tap Hong Kong's international capital markets to support global expansion and next-stage growth in high-tech sectors.
Article edited by Jerry Chen
