By Sherry Qin and Yang Jie
Apple supplier Luxshare Precision Industry is gauging investor interest for a US$3.1 billion Hong Kong listing that would be the city's largest so far this year, amid a fundraising frenzy for technology-related stocks.
The Chinese company, which assembles iPhones and other Apple products, is among nine firms seeking to test investor demand for Hong Kong listings, underscoring a growing wave of mainland tech companies tapping capital pools in one of Asia's biggest financial centers.
Luxshare, which is already listed in Shenzhen, is set to offer 383.5 million shares at a maximum of 63.28 Hong Kong dollars each. The stock is expected to start trading on July 9.
If successful, the HK$24.27 billion offering, equivalent to US$3.10 billion, would top the HK$20.12 billion listing of Nvidia supplier Victory Giant Technology in April.
More than two dozen cornerstone investors, including Singapore's Temasek, GIC and Middle Eastern sovereign-wealth fund Abu Dhabi Investment Authority, have subscribed to US$1.5 billion of shares, nearly half the offering size. Securing such backers helps companies market their deals more effectively and is especially important in times of heightened market volatility.
Founded by former Foxconn line worker Grace Wang, Luxshare has spent the past decade stitching itself into the fabric of Apple's supply chain, climbing from assembling AirPods to producing high-end iPhones and eventually securing assembly rights for the Cupertino, Calif., company's premium Vision Pro headset.
Luxshare's largest customer, widely believed to be Apple, has accounted for more than half of its revenue. That share declined to 57% in 2025 from 75% in 2023, however, as the company diversified its revenue streams toward high-performance data centers and automotive electronics.
The Chinese company now also makes high-speed optoelectronic interconnects, liquid-cooling modules, and advanced power systems designed for the demands of next-generation artificial-intelligence clusters.
Analysts say they expect Luxshare's data-center business to experience major growth between now and next year.
In April, Wang said recent factory buyouts had given Luxshare a major upgrade: the ability to design products from scratch, end-to-end, according to company documentation. Analysts said that new capability lets the company move quickly on fast-moving AI hardware trends, and makes it easier to sell core components to customers like Apple and Nvidia.
Luxshare plans to spend most of the proceeds on expanding its production capacity and investing in research and development.
Its Shenzhen-listed shares were recently 7.5% higher at 70.18 yuan.
Among other companies that launched Hong Kong offerings on Tuesday, Shenzhen-listed Chaozhou Three-Circle, a Chinese manufacturer of advanced electronic components and ceramic materials, aims to raise HK$7.16 billion via an offering of 71.4 million shares.
Nexchip Semiconductor, China's third-largest chip foundry behind SMIC and Hua Hong Semiconductor, is looking to raise HK$6.98 billion, while Guangdong Dtech Technology, which makes micro-cutting tools used to build printed circuit boards, targets a HK$4.80 billion listing.
The nine companies, many of which are already listed in mainland China, could raise up to about US$6 billion in total.
Hong Kong is posed for another stellar year of listings after reclaiming the top spot by funds raised globally in 2025, driven by secondary listings of Chinese companies.
Write to Sherry Qin at sherry.qin@wsj.com and Yang Jie at jie.yang@wsj.com