Luxshare Precision has officially launched its global H-share offering, aiming to raise up to USD 3.1 billion, with the listing expected on July 9.

``` Apple’s core supplier Luxshare Precision seeks a Hong Kong listing, marking the largest major IPO on the Hong Kong Stock Exchange in recent times. On June 30, Luxshare Precision Industry Co., Ltd. officially disclosed its Hong Kong prospectus and launched its H-share global offering. The company plans to issue approximately 383.5 million H-shares, with a maximum offer price of HK$63.28 per share. Based on the assumption that the over-allotment option is not exercised, the net proceeds are estimated at about HK$24 billion (approximately US$3.1 billion). The issuance is jointly sponsored and coordinated by CITIC Securities, Goldman Sachs, and CICC, with HSBC, Guosen Securities (Hong Kong), and other institutions participating in underwriting. The company plans to determine the final offer price on July 7, announce allotment results on July 8, and officially list on the Main Board of the Hong Kong Stock Exchange at 9 a.m. on July 9, with the stock code 2475. [Image] Offering Structure: 90% of Shares for International Investors This global offering comprises two main segments. The Hong Kong public offering initially provides approximately 38.35 million shares, about 10% of total issuance; the international offering initially provides about 345.15 million shares, or approximately 90%. In addition, the company grants international underwriters a 15% over-allotment option, with up to an additional 57.52 million shares available. Goldman Sachs (Asia) L.L.C. serves as the stabilization manager, with the stabilization period lasting from the listing date until August 5, 2026. The Hong Kong public offering uses a fully electronic application process, with no paper prospectus. Subscription channels are open from 9 a.m. June 30 to 11:30 a.m. July 6, with payment due by 12 noon that day. Each board lot consists of 100 shares, with a minimum application amount of HK$6,391.82. Use of Proceeds: Focus on Capacity Expansion and R&D, with Mergers and Acquisitions Considered The HK$24 billion net proceeds are clearly allocated: - 35% for expanding capacity and upgrading global production bases - 30% for investment in technology R&D and smart manufacturing system upgrades - 15% for acquisition and integration of quality upstream and downstream enterprises - 10% for repayment of interest-bearing bank loans - 10% for general working capital This allocation reflects Luxshare Precision’s current strategic focus—solidifying manufacturing scale while accelerating expansion into high value-added segments. Business Fundamentals: Three Years of Revenue Growth, Automotive Electronics as New Growth Engine According to the prospectus, Frost & Sullivan data shows Luxshare Precision is the leading precision intelligent manufacturing solutions provider in mainland China and fifth globally in terms of expected 2025 revenue, with a global market share of 11.2% in consumer electronics components. Financial data shows the company’s revenues from 2023 to 2025 are RMB 231.9 billion, RMB 268.8 billion, and RMB 332.3 billion, respectively, with net profit attributable to shareholders rising three consecutive years to RMB 12.2 billion, RMB 14.6 billion, and RMB 18.2 billion. The business structure is quietly shifting. Consumer electronics remain the cornerstone, accounting for nearly 80% of 2025 revenue; however, automotive electronics have risen from a 3.9% share in 2023 to 11.8% in 2025, with significantly higher gross margins than consumer electronics, making it a new growth driver. Communications and data center businesses are also expanding, with AI servers and XR wearables driving medium- to long-term demand. The company operates 105 production bases worldwide and is actively expanding into emerging fields such as humanoid robots, vehicle-mounted devices, and semiconductor consumables. Risk Warning and Disclaimer The market poses risks, and investment requires caution. This article does not constitute personal investment advice and does not take into consideration your individual objectives, financial situation, or needs. Investors should assess whether any opinions, views, or conclusions in this article apply to their own circumstances. Any investment decisions made on this basis are at one's own risk. ```