Luxshare Precision Industry Co Ltd, a Guangdong-based electronics manufacture and a major Apple supplier, is planning to list on the Hong Kong Stock Exchange, according to its announcement released on Wednesday on the Shenzhen Stock Exchange. The company went public on SZSE in 2010.  

This initiative aims to strengthen the company’s global strategic deployment and enhance its international financing capabilities. The issuance will reportedly raise $1 billion or more in funding.      

Currently, Luxshare said it is in discussions with relevant intermediaries to move forward with the H-share issuance, while specific details are still under consideration.  The listing still needs to get nod from the China Securities Regulatory Commission and be reviewed by the Hong Kong bourse.

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Founded in 2004, the company is one of Apple's key suppliers in China.  Its 2024 annual results show that the consumer electronics manufacturer achieved operating income of 268.8 billion yuan ($37.52 billion) in 2024, representing a 15.91 percent year-over-year increase, while its net profit surged 22 percent.              

In the past two years, Luxshare's Apple-related business has grown by over 50 percent, leading to the establishment of four new factories in Jiangsu, Shanghai, and Guangdong dedicated to Apple production, according to China’s Securities Times.    

Contact the writer at: mikegu@chinadailyhik.com