Luxshare Precision clears HKEX hearing for Hong Kong listing
Synopsis
Luxshare Precision Industry — Apple's AirPods and iPhone assembler — cleared a Hong Kong Stock Exchange listing hearing on 24 June 2026, days after winning CSRC approval, as its 2025 revenue hit US$48.82 billion and its automotive segment nearly tripled year on year.
Key Takeaways
Luxshare Precision Industry cleared an HKEX listing hearing on Tuesday, 24 June 2026 , advancing its plan for a Hong Kong secondary listing.
The company received prior approval from the China Securities Regulatory Commission (CSRC) for the offshore listing in the days before the hearing.
Sponsors for the deal are Citic Securities , Goldman Sachs , and China International Capital Corporation (CICC) .
Luxshare 's 2025 revenue reached 332 billion yuan (US$48.82 billion) , up 24 per cent year on year, with net profit rising 24 per cent to 16.6 billion yuan .
The automotive segment nearly tripled year on year to represent 12 per cent of total revenue, while consumer electronics — including Apple products — still accounts for nearly 80 per cent .
Founded in Shenzhen in 2004 , Luxshare also supplies components for Apple 's mixed-reality headset, the Vision Pro .
Luxshare Precision Industry, a critical supplier in Apple's AirPods, iPhone, and Vision Pro supply chains, cleared a listing hearing at the Hong Kong Stock Exchange (HKEX) on Tuesday, 24 June 2026, marking a significant step toward a secondary listing in the city. The Shenzhen-based manufacturer joins a growing cohort of mainland Chinese technology and manufacturing giants tapping Hong Kong's capital markets for offshore fundraising.
Regulatory green lights align
The HKEX hearing clearance came just days after Luxshare received approval from the China Securities Regulatory Commission (CSRC) for its offshore listing plan, according to a company filing. The dual regulatory endorsement removes the two most significant institutional hurdles for the deal. Citic Securities, Goldman Sachs, and China International Capital Corporation (CICC) are named as sponsors in the filing.
From cable connectors to Apple's core supply chain
Founded in Shenzhen in 2004 as a cable connector business, Luxshare Precision Industry has evolved into one of the most strategically important manufacturers in the global consumer electronics ecosystem. The company assembles and supplies precision components for Apple products including the AirPods, iPhone, and the mixed-reality headset Vision Pro. Its ascent has frequently drawn comparisons to Foxconn Technology Group, Apple's largest assembler.
Revenue and profit surge in 2025
Luxshare's revenue reached 332 billion yuan (US$48.82 billion) in 2025, a 24 per cent jump year on year, according to its prospectus. Net profit surged 24 per cent to 16.6 billion yuan over the same period. Consumer electronics continues to anchor the business, accounting for nearly 80 per cent of total revenue last year.
Diversification beyond Apple: automotive, data centres, robotics
Luxshare has been actively broadening its revenue base beyond consumer electronics. Its automotive segment nearly tripled year on year to account for 12 per cent of total revenue in 2025, reportedly driven by demand for electric vehicle components. The company is also expanding into data centres and robotics, sectors that industry analysts note are attracting heavy capital inflows from Chinese manufacturers seeking to reduce single-client concentration risk.
What's next
With both the CSRC and HKEX hurdles cleared, Luxshare is expected to proceed toward a formal prospectus publication and roadshow. The listing will test investor appetite for large-cap Chinese technology manufacturers at a time when Hong Kong is aggressively courting mainland listings to reinvigorate its equity market. How Luxshare prices its shares — and whether it can sustain its automotive growth trajectory — will be the key metrics to watch.
Point of View
It is hardly cash-starved — and more about geopolitical risk management: a Hong Kong listing gives the company an offshore fundraising channel insulated from potential US secondary sanctions on mainland exchanges. What mainstream coverage underplays is the automotive pivot; a segment that nearly tripled year on year signals Luxshare is deliberately engineering a post-Apple revenue floor, a strategic hedge that mirrors Foxconn's own diversification playbook. The timing also reflects Hong Kong's concerted effort to reclaim relevance as a listing venue by attracting marquee mainland industrials, with Luxshare's deal potentially unlocking a pipeline of similarly scaled Chinese manufacturers. Investors will need to scrutinise whether the automotive margin profile can approach the precision-electronics business, or whether rapid growth is masking thin returns.
NationPress
24 Jun 2026
Frequently Asked Questions
What is Luxshare Precision Industry's Hong Kong listing about?
Luxshare Precision Industry cleared a listing hearing at the Hong Kong Stock Exchange (HKEX) on 24 June 2026 , paving the way for a secondary listing in Hong Kong . The Shenzhen -listed Apple supplier had already received approval from the China Securities Regulatory Commission (CSRC) for the offshore plan in the preceding days.
Who are the sponsors of the Luxshare HKEX listing?
Citic Securities , Goldman Sachs , and China International Capital Corporation (CICC) are the sponsors of the deal, according to a company filing to HKEX . The involvement of Goldman Sachs signals international institutional backing for the offering.
What are Luxshare's latest financial results?
Luxshare Precision Industry reported revenue of 332 billion yuan (US$48.82 billion) in 2025 , a 24 per cent increase year on year, according to its prospectus. Net profit also rose 24 per cent to 16.6 billion yuan over the same period.
Why is Luxshare diversifying beyond Apple products?
Luxshare is expanding into automotive, data centres, and robotics to reduce its dependence on consumer electronics, which still accounts for nearly 80 per cent of revenue. Its automotive segment nearly tripled year on year in 2025 , reaching 12 per cent of total revenue, reflecting a deliberate strategy to build revenue streams independent of any single client.
How does Luxshare compare to Foxconn in Apple's supply chain?
Luxshare Precision Industry and Foxconn Technology Group are both major assemblers and component suppliers for Apple , with Luxshare handling AirPods , iPhone units, and the Vision Pro headset. Luxshare has grown rapidly since its founding in 2004 and is widely regarded as one of the most significant challengers to Foxconn 's dominance in Apple's manufacturing ecosystem.
