Chinese leading manufacturing company Luxshare Precision has debuted on the HKEX main board on 9 July, raising about HKD24.27 billion (USD3.09 billion). Following its SZSE debut in 2010, the company has now achieved a dual listing and becomes Hong Kong’s largest IPO to date this year.
DLA Piper, Han Kun Law Offices, Mingforever Law Firm, Sheppard Mullin, Herbert Smith Freehills Kramer and Zhong Lun Law Firm provided legal support for the transaction.
The IPO involved the issuance of about 383 million H shares at HKD63.28 each. The offering attracted 26 cornerstone investors, including Temasek, GIC, the Abu Dhabi Investment Authority, HHLR Advisors, Tencent Holdings and Fidelity International. CITIC Securities, Goldman Sachs and CICC acted as joint sponsors.
DLA Piper counselled Luxshare on Hong Kong and US law. The team was led by Sherlyn Lau, head of capital markets and corporate finance, APAC. Han Kun acted on PRC law, with partner Li Jianhui leading the team and partner Zhang Rantong participating. Mingforever advised on Taiwan law, while Sheppard Mullin provided advice on international sanctions and export controls.
HSF Kramer acted as Hong Kong and US legal counsel to the underwriters, led by partners Matt Emsley, Stanley Xie and Kong Jin. Zhong Lun advised on PRC law, with partners Guo Xiaodan, Chen Jingeng and Huang Chaoying leading the transaction. Partners Zhou Jiangwu and Shi Cong also participated, while partner Cai Peng advised on data compliance matters.
Headquartered in Guangdong province, Luxshare was founded in 2004 and provides integrated intelligent manufacturing solutions spanning core components, modules and system assembly for consumer electronics, automotive and enterprise communications products. It has long been a key supplier to Apple and became the first Chinese mainland company to assemble iPhones in 2020.
Market researcher Frost & Sullivan said Luxshare ranked fifth globally and first in the Chinese mainland in the precision intelligent manufacturing solutions industry by revenue in 2025.
In recent years, the company has expanded into higher value-added emerging technology sectors, including components for AI computing hardware, industrial robots and precision transmission, as well as industrial 3D printing equipment. It aims to strengthen its presence across consumer electronics, automotive electronics, computing infrastructure and emerging industrial technologies.
The prospectus states that IPO proceeds will mainly be used to expand production capacity and upgrade manufacturing facilities, support research and development, invest in upstream and downstream industries, repay interest-bearing bank borrowings, and fund working capital and general corporate purposes.
