Apple suppliers race to Hong Kong: $4bn in a week
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Two of Apple's largest Chinese suppliers, Luxshare Precision and Lingyi iTech, are racing to list on the Hong Kong stock exchange in the same week, together raising roughly $4bn. Both companies are using the capital to pivot from smartphone component manufacturing toward AI hardware and humanoid robotics. Lingyi raised $1.1bn at the top of its price range and is targeting 500,000 humanoid robots annually by 2030, while Luxshare is gauging interest for a ~$3bn listing. The rush is partly driven by a June filing deadline that lets companies avoid refiling financials. Hong Kong IPO proceeds are on track for a six-year high of $43bn in 2026. Analysts note caution: Hong Kong shares priced at steep discounts to mainland listings, China's humanoid robot sector is crowded with over 150 competitors, and demand at scale remains unproven.
