--- title: "[Financial News AH] The largest IPO in Hong Kong this year has arrived! LUXSHARE-ICT has landed on the Hong Kong Stock Exchange" type: "News" locale: "en" url: "https://longbridge.com/en/news/292300578.md" description: "On July 9th, LUXSHARE-ICT was listed on the main board of the Hong Kong Stock Exchange, becoming the largest IPO in Hong Kong this year, raising approximately HKD 24.3 billion. The H-share issue price was HKD 63.28, with a slight decline at the opening. This IPO attracted over 20 top institutions as cornerstone investors, including Temasek and Tencent, with a subscription amount reaching USD 1.5 billion. LUXSHARE-ICT was established in 2004 and went public on the Shenzhen Stock Exchange in 2010, primarily engaged in the research and production of connectors. By 2025, the company's revenue exceeded RMB 330 billion, with a net profit of RMB 16.6 billion, both reaching historical highs, ranking fourth globally" datetime: "2026-07-10T09:35:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292300578.md) - [en](https://longbridge.com/en/news/292300578.md) - [zh-HK](https://longbridge.com/zh-HK/news/292300578.md) --- # [Financial News AH] The largest IPO in Hong Kong this year has arrived! LUXSHARE-ICT has landed on the Hong Kong Stock Exchange The largest IPO in Hong Kong this year has arrived! On July 9, LUXSHARE-ICT was listed on the main board of the Hong Kong Stock Exchange, becoming another leading enterprise listed in both "A+H" markets. LUXSHARE-ICT opened at HKD 63.25 per share, down 0.05%. Public information shows that LUXSHARE-ICT was established on May 24, 2004, and was listed on the Shenzhen Stock Exchange on September 15, 2010. The company's main business is the research, development, production, and sales of connectors. The issue price of LUXSHARE-ICT's H shares is HKD 63.28 per share, and the company plans to issue 383.5 million shares, expecting to raise approximately HKD 24.3 billion, making it the largest IPO in the Hong Kong market since 2026. LUXSHARE-ICT's IPO raised over HKD 24 billion, and the prospectus disclosed the use of the raised funds: 35% for capacity expansion and upgrading production bases, 30% for technology research and development, improving manufacturing processes, and enhancing intelligent manufacturing capabilities, 15% for investments in upstream and downstream or related quality targets, 10% for repaying interest-bearing bank loans, and 10% for working capital and general corporate purposes. This IPO attracted over 20 top global investment institutions as cornerstone investors, including Temasek, Government of Singapore Investment Corporation (GIC), Abu Dhabi Investment Authority (ADIA), Hillhouse's HHLRA, Tencent Holdings Limited, Fidelity International, GF Fund Management, and Taikang Life Insurance, with a total subscription amount reaching USD 1.5 billion (approximately HKD 11.754 billion). Based on the maximum offering price of HKD 63.28 per share, the total subscription amounted to approximately 18.6 million H shares, accounting for 48.44% of the total H shares offered globally. After 15 years of being listed on the A-share market, LUXSHARE-ICT has completed its transition from a low-margin OEM manufacturing enterprise to a high-margin technology enterprise through internal cultivation and external acquisitions, achieving a 130-fold increase in revenue. Globally, on average, one in every two smartphones, one in every three smart wearable devices, and one in every five smart cars is equipped with a product from LUXSHARE-ICT. In 2025, LUXSHARE-ICT achieved operating revenue of CNY 332.344 billion, a year-on-year increase of 23.64%; net profit attributable to the parent company was CNY 16.6 billion, a year-on-year increase of 24.20%, both hitting historical highs. In 2025, its revenue scale ranked fourth globally in the precision intelligent manufacturing solutions industry and first in mainland China. From the revenue structure perspective, in 2025, the revenue contributions from LUXSHARE-ICT's three main businesses—consumer electronics, automotive electronics, and communications and data centers—were 79.52%, 11.81%, and 7.39%, respectively. The revenue proportion from consumer electronics decreased, while the revenue proportion from automotive and communications businesses rose to a historical high of 19.2%. The change in revenue structure has also brought about a change in customer concentration. From 2023 to 2025, LUXSHARE-ICT's top five customers contributed revenues of CNY 191.2 billion, CNY 211 billion, and CNY 216.2 billion, accounting for 82.4%, 78.5%, and 65% of total revenue, respectively, with a decrease of 17.4 percentage points over three years. During the same period, the revenue contribution from the largest customer, Apple, was CNY 174.5 billion, CNY 190.1 billion, and CNY 188.381 billion, accounting for 75.2%, 70.7%, and 56.68% of LUXSHARE-ICT's total sales. In 2025, LUXSHARE-ICT's revenue from sources other than Apple exceeded CNY 150 billion In terms of growth, in 2021, LUXSHARE-ICT's revenue was approximately 153.9 billion yuan, with a net profit of 7.071 billion yuan. Over five years, the company's revenue grew by 1.16 times, and net profit increased by 1.35 times. If we extend the timeline further, LUXSHARE-ICT's revenue in 2025 will be equivalent to 130 times that of 2011 (the first year after its IPO), and net profit will be 49 times that of 2011. In 2026, LUXSHARE-ICT continued its high growth momentum, achieving revenue of 83.888 billion yuan in the first quarter, a year-on-year increase of 35.77%; net profit was 3.968 billion yuan, a year-on-year increase of 17.49%. In terms of R&D investment, in 2025, LUXSHARE-ICT's R&D expenditure was 11.428 billion yuan, a year-on-year increase of 33.57%. Looking at a 10-year dimension, from 2016 to 2025, LUXSHARE-ICT's total R&D investment reached 58.463 billion yuan, accounting for 71.76% of the total net profit over the decade. LUXSHARE-ICT's R&D team is also rapidly expanding. By the end of 2025, LUXSHARE-ICT had 48,765 full-time R&D personnel, a year-on-year increase of 52.14%. In 2016, LUXSHARE-ICT had 3,382 R&D personnel, growing 13 times over the decade. By the end of 2025, LUXSHARE-ICT had 28 self-established R&D centers globally, with 16 located in mainland China; it owned 94 testing laboratories, of which 8 laboratories were accredited by the China National Accreditation Service for Conformity Assessment (CNAS) and obtained ISO/IEC 17025:2017 certification. Additionally, LUXSHARE-ICT collaborates with several well-known industry partners and academic institutions and participates in provincial and municipal R&D programs, focusing on next-generation technology development. By the end of 2025, LUXSHARE-ICT held 9,367 patents, of which 2,540 were invention patents. As of the close on July 8, LUXSHARE-ICT's A-share price fell by 1.28%, closing at 62.47 yuan per share, with a total market value of 457.2 billion yuan ### Related Stocks - [002475.CN](https://longbridge.com/en/quote/002475.CN.md) - [02475.HK](https://longbridge.com/en/quote/02475.HK.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [00388.HK](https://longbridge.com/en/quote/00388.HK.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) - [80388.HK](https://longbridge.com/en/quote/80388.HK.md) - [HKXCY.US](https://longbridge.com/en/quote/HKXCY.US.md) ## Related News & Research - [Luxshare Raises $3.1 Billion in Hong Kong's Biggest IPO of the Year](https://longbridge.com/en/news/291971459.md) - [ZAWYA: ADIA joins cornerstone investors in Apple supplier Luxshare’s $3.1bln Hong Kong IPO](https://longbridge.com/en/news/291369955.md) - [Tencent unit seeks up to $1.55 billion from Kuaishou share sale, term sheet shows](https://longbridge.com/en/news/291804827.md) - [UOB Kay Hian Reaffirms Their Buy Rating on Tencent Holdings (TCTZF)](https://longbridge.com/en/news/292259333.md) - [Tencent Cuts Kuaishou Stake as Video Platform Presses Ahead With Share Buybacks](https://longbridge.com/en/news/291823198.md)