Apple supplier Luxshare Precision drops over 5% in Hong Kong debut after HK$24.27 billion IPO

According to CNBC, shares of Luxshare Precision Industry Co., Ltd fell more than 5% in their Hong Kong trading debut Thursday after pricing its IPO at HK$63.28 a share and raising HK$24.27 billion ($3.09 billion); the stock traded around HK$60 in early dealings. Luxshare, an Apple supplier that began as an assembler of AirPods, is already listed in Shenzhen and closed at 62.47 yuan on Wednesday, down 1.28%. Apple accounts for about 70% of Luxshare’s revenue, according to PitchBook. In its prospectus, Luxshare reported revenue of 332.34 billion yuan in 2025, up from 268.79 billion yuan in 2024, with consumer electronics at 79.5%, automotive electronics 11.8% and communications and data centers 7.4%. The company said it may evaluate acquisitions and strategic partnerships, and noted it increased its controlling stake in Leoni AG to 74.9% as of April 2026. Luxshare was founded in 2004 by CEO Wang Laichun and is family-controlled, with Wang Laisheng serving as vice chairman; it listed in Hong Kong alongside other IPOs this week including Momenta and Nexchip.