BRIEF: Time Interconnect buys out Luxshare Precision joint venture

Cable component supplier Time Interconnect Technology Ltd. (1729.HK) said on Thursday it bought out the 51% stake in its Leoni Kabel joint venture held by partner Luxshare Precision for $12.7 million. Following the transaction, Time Interconnect owns 100% of the venture.

Time Interconnect and Luxshare Precision established the joint venture in 2024 primarily to handle overseas acquisitions. Last July it acquired Leoni LCS, which makes copper cables for transmitting electrical power, signals and data in automobiles.

The company said it has consistently pursued diverse investment opportunities to mitigate operational risks and sustain growth. Securing full ownership of Leoni Kabel, it said, will enable more efficient resource allocation and enhance management and operational efficiency within its automotive business segment.

Shares of Time Interconnect opened flat at HK$23.04 on Friday. The stock is up sixfold from its 52-week low.

By Lau Chi Hang

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