en.Wedoany.com Reported - Luxshare Precision, a precision intelligent manufacturing solutions provider in China, was officially listed on the Hong Kong Stock Exchange with an opening price of HKD 63.25 per share, achieving a total market capitalization of HKD 487.1 billion (approximately RMB 422.9 billion). The company ranks second globally with an 11.2% market share in the global consumer electronics components and modules PIMS market, and first in the Chinese mainland market.

This IPO is expected to raise net proceeds of approximately HKD 24 billion, with the fund allocation plan as follows: 35% for capacity expansion and upgrading existing production bases, 30% for technology R&D and intelligent manufacturing system upgrades, 15% for investing in high-quality targets in upstream and downstream industries, 10% for repaying certain existing interest-bearing bank borrowings to optimize capital structure and reduce financial expenses, and the remaining 10% for working capital and other general corporate purposes. This capital deployment reflects Luxshare Precision's strategic direction of actively extending into high-value-added segments while consolidating its manufacturing scale.

Based on 2025 revenue, Luxshare Precision is the largest precision intelligent manufacturing solutions (PIMS) provider in the Chinese mainland and the fifth largest globally. Over the past three years, the company's revenue has grown from RMB 231.9 billion to RMB 268.8 billion, and further to RMB 332.3 billion, with its overall scale continuing to expand.

Luxshare Precision's business structure is undergoing a profound transformation. The share of its consumer electronics business decreased from 88.3% in 2023 to 79.5% in 2025, while automotive electronics jumped from 3.9% to 11.8% over the same period, achieving a three-year revenue compound annual growth rate of 106%. The communications and data center business also maintained an annual compound growth rate of approximately 30%. In terms of customer structure, revenue from Apple grew from RMB 174.5 billion in 2023 to RMB 190.1 billion in 2024, then fell to RMB 188.4 billion in 2025, with its share of total revenue declining from 75.2% to 56.7%, reflecting the company's proactive efforts to reduce dependence on a single major customer and promote customer diversification.

In the automotive electronics business, through the acquisition of Germany's Leoni Group, Luxshare Precision increased its global automotive wiring harness market share to 12.2%, entering the global first tier. This acquisition also opened channels for Luxshare to directly reach European and American luxury brands such as BMW and Mercedes-Benz, as well as major Japanese and Korean automakers. Currently, the company's automotive business has formed a full-chain layout covering wiring harnesses, high-voltage connectors, intelligent cockpits, and domain controllers, with customers including new energy vehicle makers like BYD, NIO, and Li Auto, as well as numerous traditional automakers.

The communications and data center business demonstrates superior profitability, with gross margins higher than those of consumer electronics and automotive electronics. Against the backdrop of growing AI computing power demand, the data center business, centered on optical modules, copper interconnects, and optical interconnects, has become a key future growth driver for Luxshare Precision. The company began deploying in this field in 2020, achieving mass production of 400G optical modules in 2023 while simultaneously launching 800G products. Currently, 800G optical modules have entered the small-batch shipment stage. The company adopts a "copper and optical parallel" technology strategy, with deployments in both CPO and NPO directions. In May of this year, Luxshare signed a strategic cooperation memorandum with Marvell, covering high-end optical modules, high-speed copper interconnects, and joint pre-research on cutting-edge technologies. Additionally, Luxshare is a core supplier of high-speed copper cables for NVIDIA's GB200/GB300 servers.

Financial data shows that Luxshare Precision's net profit attributable to the parent company over the past three years was RMB 12.2 billion, RMB 14.6 billion, and RMB 18.2 billion, respectively, demonstrating sustained growth. The majority of the company's revenue comes from regions outside the Chinese mainland, amounting to RMB 196 billion, RMB 225.8 billion, and RMB 273.8 billion in 2023, 2024, and 2025, respectively, accounting for 84.5%, 84.0%, and 82.4% of total revenue over the same periods. Among this, sales revenue from U.S. customers was RMB 74.5 billion, RMB 85 billion, and RMB 97.8 billion, representing 32.1%, 31.6%, and 29.4% of total revenue in the respective years.