AirPods maker Luxshare slides over 5% in Hong Kong debut

Luxshare Precision Industry experienced a notable decline of over 5% during its trading debut in Hong Kong on Thursday. This development came as investors reacted to the entry of the Apple supplier into the market. The company, which has previously been listed in Shenzhen, set its IPO share price at 63.28 Hong Kong dollars, successfully raising HK$24.27 billion (approximately $3.09 billion). However, during early trading, the stock was valued at HK$60. Originally known for assembling Apple's AirPods, Luxshare has diversified its offerings, now supplying components for a wider range of consumer electronics, automotive technologies, and communication devices. Notably, Apple contributes around 70% to Luxshare's total revenue, as reported by PitchBook. Having been part of the Shenzhen Stock Exchange since 2010, the company saw its shares close at 62.47 yuan on Wednesday, reflecting a decrease of 1.28%. According to its prospectus, Luxshare's revenue surged to 332.34 billion yuan in 2025, a significant increase from 268.79 billion yuan in 2024. The revenue breakdown indicates that consumer electronics comprised 79.5%, automotive electronics accounted for 11.8%, and communications and data centers made up 7.4%. Luxshare has a history of strategic acquisitions aimed at enhancing its core business capabilities. Recently, the company raised its controlling stake in German automotive cable and harness manufacturer Leoni AG to 74.9% as of April 2026. Founded in 2004 by entrepreneur Wang Laichun, who currently serves as CEO, Luxshare remains a family-controlled enterprise, with Wang's brother, Wang Laisheng, acting as vice chairman. The company’s IPO debut coincides with a notable week for Hong Kong's stock market, which has seen listings from other high-profile companies, including autonomous-driving startup Momenta and semiconductor foundry Nexchip.