LUXSHARE-ICT Officially Launches H Share Global Offering, Raising Up to $3.1 Billion, with Listing Expected on July 9

Apple's core supplier, LUXSHARE-ICT, has knocked on the door of the Hong Kong stock market, with this fundraising scale marking the largest recent IPO on the Hong Kong Stock Exchange.

LUXSHARE-ICT Industry Co., Ltd. officially disclosed its Hong Kong stock prospectus on June 30, launching the 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. Calculated without the exercise of the over-allotment option, the net proceeds amount to approximately HK$24 billion (about $3.1 billion).

CITIC Securities, Goldman Sachs, and CICC serve as joint sponsors and overall coordinators for this issuance, with institutions such as HSBC and Guosen Securities (Hong Kong) participating in the underwriting. The company expects to determine the final offer price on July 7, announce the allocation results on July 8, and officially list on the main board of the Hong Kong Stock Exchange at 9:00 a.m. on July 9, with the stock code 2475.

Offering Structure: Ninety Percent of Shares Targeted at International Investors

This global offering is divided into two main tranches.

The Hong Kong public offering initially provides approximately 38.35 million shares, accounting for about 10% of the total offering; the international offering initially provides approximately 345.1 million shares, accounting for about 90%. Meanwhile, the company has granted a 15% over-allotment option to international underwriters, allowing for the additional allotment of up to approximately 57.52 million shares.

Goldman Sachs (Asia) L.L.C. serves as the stabilizing manager, with the stabilizing period running from the listing date until August 5, 2026.

The Hong Kong public offering adopts a fully electronic application process, with no paper prospectuses. The subscription channel is open from 9:00 a.m. on June 30 to 11:30 a.m. on July 6, with payment deadline until 12:00 p.m. on the same day. Each trading lot consists of 100 shares, with the full amount payable for entry set at HK$6,391.82.

Use of Proceeds: Primarily for Capacity Expansion and R&D, Alongside M&A Integration

The allocation of the HK$24 billion in net proceeds is clearly defined:

• 35% for expanding production capacity and upgrading global production bases

• 30% invested in technological R&D and upgrading intelligent manufacturing systems

• 15% for acquiring high-quality upstream and downstream enterprises

• 10% for repaying bank interest-bearing loans

• 10% for supplementing daily working capital

This fund allocation logic reflects LUXSHARE-ICT's current strategic focus—accelerating expansion into high value-added segments while consolidating its manufacturing scale.

Business Fundamentals: Revenue Grows for Three Consecutive Years, Automotive Electronics Becomes New Engine

According to the prospectus, data from Frost & Sullivan shows that LUXSHARE-ICT is the largest precision intelligent manufacturing solution provider in mainland China by revenue in 2025, and the fifth largest globally, with a global market share of 11.2% in consumer electronics components.

Financial data indicates that the company's revenue from 2023 to 2025 was RMB 231.9 billion, RMB 268.8 billion, and RMB 332.3 billion, respectively. Net profit attributable to shareholders grew for three consecutive years, reaching RMB 12.2 billion, RMB 14.6 billion, and RMB 18.2 billion, respectively.

The business structure is quietly shifting. Consumer electronics remains the core foundation, accounting for nearly 80% of revenue in 2025; however, the contribution from automotive electronics has risen from 3.9% in 2023 to 11.8% in 2025. With gross margins significantly higher than those of the consumer electronics segment, it has become a new engine for growth. Communications and data center businesses are also expanding simultaneously, with AI computing servers and XR wearable devices driving medium-to-long-term demand.

The company has laid out 105 production bases globally and is actively positioning itself in emerging tracks such as humanoid robots, vehicular equipment, and semiconductor consumables.