"New Stocks" AI hardware manufacturer LY iTECH applies for listing in Hong Kong

The AI hardware intelligent manufacturing platform LY iTECH (002600.SZ), listed on the Shenzhen Stock Exchange, recently submitted a listing application to the Hong Kong Stock Exchange, with Guotai Junan serving as the sole sponsor.

According to preliminary prospectus information, LY iTECH's full-chain product matrix covers core materials, precision functional components, modules, and high-quality assembly, applied in AI terminal devices, robots, and enterprise-level commercial servers, as well as in the automotive and low-altitude economy sectors. Major clients include companies in the AI terminal device, new energy vehicle, social networking, and extended reality (XR) industries.

According to Frost & Sullivan data, based on 2024 revenue, LY iTECH ranks first in the global AI terminal device high-precision functional components market and third in the global AI terminal device high-precision intelligent manufacturing platform industry.

As of the end of September this year, the company recorded revenue of RMB 37.59 billion, a year-on-year increase of 19.3%; during the period, profit grew by over 39.6% to RMB 1.966 billion. LY iTECH expects that the funds raised from the listing in Hong Kong will be used to enhance production capacity, research and development capabilities, strategic investments and acquisitions, as well as to expand domestic and overseas production infrastructure