Luxshare Precision Industry, a key supplier for Apple, experienced a decline of more than 5% in its stock price during its debut on the Hong Kong Stock Exchange, opening at HK$60 after pricing its IPO shares at HK$63.28. The company raised HK$24.27 billion ($3.09 billion) through this offering.
Luxshare, which has been listed on the Shenzhen Stock Exchange since 2010, derives about 70% of its revenue from Apple, which raises concerns about its dependency on a single client. In its latest financials, Luxshare reported a revenue increase to 332.34 billion yuan in 2025, up from 268.79 billion yuan in 2024, with consumer electronics making up 79.5% of this revenue.
The company has a history of strategic acquisitions, including increasing its stake in German automotive cable specialist Leoni AG to 74.9% as of April 2026, indicating its intent to expand its capabilities. Founded in 2004 by CEO Wang Laichun, Luxshare is family-controlled, with significant leadership roles held by Wang's family members.
The company’s IPO coincides with a series of notable listings in Hong Kong, including those of autonomous-driving startup Momenta and semiconductor foundry Nexchip