Luxshare Precision Industry raised about 3.1 billion US dollars (HK$24.27 billion) in its initial public offering on the Hong Kong Stock Exchange on July 9, the largest IPO in Hong Kong so far in 2026 [1, 2, 3]. The shares priced at HK$63.28 each dropped by as much as 9.6% to a low of HK$57.20 during trading and were around HK$60 at midday [2, 3].
Luxshare is Apple's largest supplier in China, contributing approximately 70% of the company's revenue [1, 3]. The company manufactures parts and finished products for consumer electronics, automotive electronics, communications equipment, and data centers [2, 3].
Founded in 2004 by Wang Laichun, who remains CEO, with her brother Wang Laisheng as vice chairman, Luxshare is a family-controlled business [2, 3]. It has been listed on the Shenzhen Stock Exchange since 2010 and reported revenue of 332.34 billion yuan last year, up from 268.79 billion yuan in 2024 [3].
In April 2026, Luxshare increased its controlling stake in German automotive cable maker Leoni AG to 74.9% [3].
Market conditions for new Chinese tech IPOs in Hong Kong remain volatile amid geopolitical tensions, tech sector pullbacks, and lock-up expirations, leading investors to become more selective [2]. Chokwai Lee, a director at Morningstar, said the "underperformance of some new listings likely reflects a more cautious market backdrop and broader uncertainties surrounding global trade and geopolitics." Lee added that "the weak debuts show investors are growing more selective about richly valued companies, as well as a more cautious stance on the pace of AI adoption following a recent pullback in the chip rally." [2]
The next major milestone for Luxshare will be monitoring its stock performance as it integrates further acquisitions and continues to expand its role in Apple's supply chain.
