Chinese Apple suppliers Luxshare and Lingyi target $4 bn Hong Kong IPOs

Electronics manufacturer Luxshare Precision Industry has begun gauging interest for a Hong Kong initial public offering that could raise about US$3 billion. The company reported 2025 revenue of 332.3 billion yuan, up 24% from the previous year, and a market capitalisation exceeding US$77 billion. Its listing would rank among the city’s largest deals this year.

Apple supplier Lingyi iTech also listed in Hong Kong, raising HK$8.3 billion (approximately US$1.1 billion). The fundraising will be used to expand into artificial‑intelligence hardware and humanoid robotics, with a goal of producing 500,000 robots annually by 2030. Lingyi posted 2025 revenue of 51.4 billion yuan, up 16%, and a market value of around US$21 billion.

Both offerings illustrate a broader shift by Chinese hardware firms toward offshore capital to fund a transition from smartphone components to AI‑related products. Hong Kong’s IPO market is experiencing a surge, with anticipated total proceeds of over US$43 billion in 2026.