Luxshare gets CSRC nod for Hong Kong IPO
Consumer electronics manufacturer Luxshare Precision Industry Co. Ltd.’s (002475.SZ) Hong Kong IPO was formally registered by the China Securities Regulatory Commission (CSRC) last Thursday, clearing a key regulatory hurdle for the listing to proceed. Previous reports said the listing could raise nearly $3 billion, making it one of the largest this year in Hong Kong.
The company plans to sell about 441 million ordinary shares in the Hong Kong listing, according to the CSRC announcement. Its stock is already traded on the domestic A-share market in Shenzhen, where it has a market cap of about 500 billion yuan ($73.9 billion).
Luxshare is a contract manufacturer that produces consumer electronics for other brands, including Apple. Its revenue rose 23.6% last year to 332 billion yuan , while its profit rose 21.2% to 14.2 billion yuan. Revenue from the company’s core consumer electronics business rose 13.4% last year to account for 80% of sales. Its newer automotive electronics division grew by a much faster 185%, rising to 11.8% of total sales from 5.1% in 2024.
Luxshare’s Shenzhen-listed stock was down 2.4% at 68.27 yuan in Monday afternoon trading. The shares are up 106% over the last 52 weeks.To subscribe to Bamboo Works weekly free newsletter, clickhere
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