People visit the Luxshare Precision Industry Co., Ltd. booth during Electronica China 2021 at the Shanghai New International Expo Center in Shanghai, China, April 14, 2021.
Visual China Group | Getty Images
Luxshare Precision Industries’ shares fell more than 5% in its Hong Kong trading debut on Thursday as investors cheered the company’s entry into the market. apple supplier.
The company is already listed in Shenzhen, and its IPO shares were priced at HK$63.28 per share, raising HK$24.27 billion ($3.09 billion). The stock was trading at HK$60 in early trading.
Luxshare has evolved from an assembler of Apple’s AirPods to a supplier of parts for a broader range of consumer and automotive electronics and communications products.
According to PitchBook, Apple accounts for about 70% of Luxshare’s revenue.
The company, which has long been listed on the Shenzhen Stock Exchange since 2010, closed 1.28% lower at 62.47 yuan on Wednesday.
According to the prospectus, Luxshare’s sales will reach 332.34 billion yuan in 2025 from 268.79 billion yuan in 2024, with household appliances accounting for 79.5%, automotive electronics accounting for 11.8%, and communications and data centers accounting for 7.4%.
The company said it has a history of making acquisitions to align its capabilities with its core business and may evaluate various acquisition and strategic partnership opportunities that could enhance its capabilities in the future. In particular, it increased its controlling interest in German automotive cable and harness specialist Leoni AG to 74.9% as of April 2026.
Luxshare was founded in 2004 by entrepreneur Wang Laichun, who currently leads the company as CEO. Although listed, the company is a family-run company, with Mr. Wang’s younger brother, Mr. Wang Laisheng, serving as vice chairman.
LuxShare joins a wave of high-profile Hong Kong IPOs this week, along with self-driving startup Momenta and semiconductor foundry Nexchip.
