Luxshare Precision Industry, a major supplier to Apple, has cleared the listing hearing for its initial public offering (IPO) on the Hong Kong Stock Exchange and has initiated pre-IPO roadshows with plans to raise approximately US$3 billion (HK$23.5 billion). The company’s move to tap the Hong Kong market follows a significant rally in its A-share valuation since its initial application in August 2025.
The firm’s A-share market capitalization has grown to around 521 billion yuan (HK$600.5 billion), nearly 90 percent higher than its value at the time of its IPO submission. Currently, Luxshare’s A-shares are trading at 71.23 yuan, up 2.7 percent, reflecting strong investor confidence. For the full year 2025, the company reported revenue of 332 billion yuan, marking a 24 percent increase year over year.
According to Ernst & Young (EY), Hong Kong’s IPO market has remained robust in the first half of 2026, with 84 new listings raising a combined HK$209.8 billion, placing the city second globally in terms of fundraising volumes. EY noted this represents a 92 percent increase compared to the average figures over the past five years and expects continued activity throughout the remainder of the year. The firm maintains its projection of HK$320 billion in total IPO proceeds for 2026.
EY highlighted the continued popularity of the dual-listed A and H shares structure among companies seeking capital in both mainland China and Hong Kong markets. However, the advisory firm also cautioned investors about potential risks ahead, including an upcoming wave of IPO lock-up expirations valued at nearly HK$1 trillion, as well as the possibility of shifts in U.S. interest rate policy that could impact market sentiment.
The Hong Kong market demonstrated strong performance with two new IPOs making notable gains on their debut day. Shaanxi Micot Pharmaceutical Technology (stock code 2335) surged 103 percent from its initial offer price of HK$18.20 to close at HK$36.90 per share, translating to a paper profit of HK$3,740 per board lot of 200 shares. Meanwhile, Shanghai Seer Intelligent Technology (stock code 6106) advanced 4.3 percent, closing at HK$106 relative to its offer price of HK$101.60.