Shares of Luxshare Precision Industry began trading on the Hong Kong Stock Exchange on a decline this Thursday, even after the company completed one of the largest IPOs of the year in the region. The move caught the market’s attention, especially due to the company’s importance in Apple’s supply chain, which accounts for a large portion of its revenue.
The company set the price of its initial public offering at HK$ 63,28 Hong Kong dollars per share, raising approximately HK$ 24,27 billion, equivalent to US$ 3,09 billion. At the start of trading, however, the shares began trading near HK$ 60, recording a decline of more than 5%.
The debut comes as Hong Kong receives a streak of major public offerings, consolidating a busy period for the Asian capital markets. Despite strong initial interest in the listing, investors took profits shortly after trading began.
Luxshare already has shares traded on the Shenzhen Stock Exchange since 2010. At the close of the trading session prior to the Hong Kong IPO, the company’s shares fell 1,28%, trading at 62,47 yuan.
Over the past few years, the manufacturer has significantly expanded its operations. Initially known for assembling Apple’s AirPods, the company broadened its portfolio to serve different segments of the electronics industry, including components for consumer devices, communications equipment, data centers, and the automotive sector.
This diversification shows up in the company’s most recent financial results. In 2025, the company’s revenue reached 332,34 billion yuan, up from 268,79 billion yuan recorded in 2024. Consumer electronics accounted for 79,5% of sales, while automotive electronics represented 11,8%. Meanwhile, businesses related to communications and data centers made up 7,4% of revenue.
Even with this expansion, Apple remains the company’s main customer. Estimates indicate that about 70% of Luxshare’s revenue still depends on the iPhone maker, highlighting the strong commercial relationship between the two companies.
Another important factor for the company’s growth strategy is its acquisition policy. In recent years, Luxshare has carried out several purchases to expand its industrial and technological capabilities. Among the most relevant moves is increasing its stake in Germany’s Leoni AG, which specializes in automotive cables and wiring harnesses, raising its share to 74,9% in April 2026.
Founded in 2004 by Wang Laichun, who remains CEO, Luxshare maintains a family-controlled structure. Its brother, Wang Laisheng, holds the position of vice president of the company, which seeks to expand its global presence through new acquisitions and strategic partnerships.
Luxshare’s listing reinforces the recent surge in IPO activity in Hong Kong, which also received, this week, notable offerings from companies in the semiconductor and autonomous driving sectors—showing the interest of large companies in gaining access to international investors through the Asian exchange.