China's Luxshare Precision Industry, a manufacturer of Apple AirPods, is considering a Hong Kong listing this year, according to sources familiar with the matter. This interest aligns with a trend of mainland China-listed companies exploring listings in Hong Kong.
Luxshare, listed in Shenzhen, has been in discussions with investment bankers regarding the deal and is expected to soon issue mandates to initiate the listing process. The company aims to raise between $2 billion and $3 billion through this offering, although the final size will depend on market conditions.
Luxshare did not respond to requests for comment.
So far in 2025, Hong Kong has seen $2.4 billion in initial public offerings and secondary listings, a significant increase from $612 million at the same point last year, according to LSEG figures.
Other mainland companies, led by battery giant CATL, are also poised to list in Hong Kong this year, with expectations of at least $5 billion in total.
Founded in 2004, Luxshare not only supplies Apple but also designs and manufactures various electronic devices, including routers, wireless charging modules, and video conferencing equipment. The company currently has a market capitalization of 295 billion yuan ($40.61 billion), and its Shenzhen stock has traded relatively flat this year, based on LSEG data.