BRIEF: Apple supplier Luxshare considers Hong Kong listing
Shenzhen-listed consumer electronics maker Luxshare Precision Industry Co. Ltd. (002475.SZ) is reportedly considering a second listing in Hong Kong this year to raise between $2 billion and $3 billion, according to Reuters, citing unnamed sources familiar with the matter.
Founded in 2004, the company is a key supplier to Apple (AAPL.US), assembling products such as AirPods and iPhones. It also manufactures routers, wireless charging modules and video conferencing equipment.
Luxshare reported revenue of 177.17 billion yuan ($24.36 billion) in the first three quarters of 2024, up 13.67% year-on-year, while its profit rose 23.06% to 9.08 billion over that time. The company previously forecast its net profit for 2024 would range between 13.14 billion yuan and 13.69 billion yuan. It has a current market capitalization of around 295 billion yuan.
By Lee Shih Ta
To subscribe to Bamboo Works weekly free newsletter, click here
