Two of Apple’s biggest Chinese suppliers are racing to Hong Kong in the same week. Luxshare wants about $3bn, Lingyi just banked $1.1bn. Both are using the cash to pivot from smartphone parts to AI hardware and humanoid robots.
The companies that build your AirPods are quietly raising a fortune. This week two of them went looking for it in the same place.
Luxshare Precision assembles AirPods and a growing share of iPhones. It has started gauging interest for a Hong Kong listing that may raise about $3bn, Bloomberg reported. That would rank among the city’s biggest deals this year. Days earlier, fellow Apple supplier Lingyi iTech raised HK$8.3bn ($1.1bn). It priced its shares at the very top of the range and turned away more than 100 orders.
The two deals are not a coincidence. They are the same bet, placed twice. China’s hardware supply chain is repricing itself for a new cycle, and it wants offshore capital to fund the shift.
A June rush to Hong Kong
