LUXSHARE ICT

Luxshare Precision ICT debuted on HKEX with a gap-up and sharp reversal, opening at HK$63.30 before sliding to an intraday low of HK$59.60 by the afternoon session, a 5.4% decline from the high and 5.8% below its IPO price of HK$63.28. The 2026's largest HK listing raised HK$24.3 billion but was only 2.78x oversubscribed with a 100% one-lot success rate, signaling tepid demand. Fundamentals remain robust: Q1 2026 revenue surged 43.73% YoY to HK$95.1 billion, net profit rose 27.29%, and EPS stood at HK$0.5555, though net profit margin stayed thin at 4.36%. At a PE of 23.6x and PB of 4.6x, the stock's total market cap is around HK$460.4 billion; the post-market recovery narrowed the loss to under 3% from the offer price, while headlines about Warner Bros. Discovery's debt cloud also competed for attention.

Luxshare Precision (2475.HK) debuted on the Hong Kong Stock Exchange today with a sharp decline, closing at HK$60.20, down 4.9% from its IPO price of HK$63.28. Trading volume was only 1.58 million shares in the morning session, with turnover of approximately HK$97 million. The company priced its IPO at the top of the range, raising HK$24.3 billion, making it the largest HK listing in 2026, yet the public offering was only 2.78 times oversubscribed with a 100% allotment success rate, indicating subdued retail demand. Financially, Q1 2026 revenue surged 43.73% YoY to HK$95.1 billion, net profit rose 27.29% YoY to HK$4.15 billion, and EPS reached HK$0.5555, underpinning solid growth. However, the current price of HK$60.20 is 4.8% below the 52-week high of HK$63.25 and also below the 20-day moving average of HK$61.25, underscoring a weak debut.