New stock news | Profits of 100 billion, gross margin restoration "Fruit Chain" giant Luxshare Precision Industry (002475.SZ) is heading to Hong Kong for IPO again

According to the disclosure by the Hong Kong Stock Exchange on February 27, Luxshare Precision Industry Co., Ltd. (referred to as Luxshare Precision Industry (002475.SZ)) has submitted an application to the Hong Kong Stock Exchange's main board, with CITIC SEC, Goldman Sachs, and CICC as its joint sponsors. The company previously submitted an application for listing to the Hong Kong Stock Exchange on August 18, 2025. Company Introduction According to the prospectus, Luxshare Precision Industry is a globally leading innovative technology company focusing on precision smart manufacturing. It is committed to providing cross-disciplinary vertically integrated development and manufacturing solutions ranging from precision components and modules to systems for global clients in the consumer electronics, automotive electronics, communication and data center, and other terminal markets. Based on sales in 2024, one out of every two smartphones, one out of every three smart wearable devices, and one out of every five smart cars globally use products from Luxshare Precision Industry. According to data from Frost & Sullivan, based on revenue in 2024, Luxshare Precision Industry ranks fourth globally in the Precision Intelligent Manufacturing Solutions (PIMS) industry and first in mainland China. The company holds leading positions in consumer electronics, automotive electronics, communication, and data center industries globally. In terms of revenue in 2024, the company ranks second globally and first in mainland China in the consumer electronics components and modules PIMS market, with a global market share of 11.3%; fourth globally and first in mainland China in the automotive harness PIMS market, with a global market share of 12.2%; fourth globally and first in mainland China in the communication and data center copper interconnect PIMS market, with a global market share of 4.4%. Luxshare Precision Industry has consistently been listed on the Fortune Global 500 list for three consecutive years from 2023 to 2025. Financial Information Revenue For the nine months ending September 30 in 2023, 2024, and 2025, the company achieved revenues of approximately RMB 231.905 billion, RMB 268.795 billion, and RMB 220.915 billion, respectively. Net profit for the period/year For the nine months ending September 30 in 2023, 2024, and 2025, the company achieved net profits for the period/year of RMB 12.243 billion, RMB 14.579 billion, and RMB 12.728 billion, respectively. Gross profit margin For the nine months ending September 30 in 2023, 2024, and 2025, the company's gross profit margin was 11.1%, 10.1%, and 11.8%, respectively. Industry Overview PIMS refers to customer-centric, technology-driven manufacturing services that integrate advanced processing technology, rapid prototyping technology, automation control, and intelligent systems to provide high-precision components, functional modules, and system integration. These solutions go beyond standard production and are characterized by deep customization, aiming to transform groundbreaking product concepts into mass-producible products with high technical standards. The products are widely used in advanced consumer electronics, intelligent automobiles, communication, data centers, and other high-tech and innovation-driven sectors. Global Market Size of Precision Intelligent Manufacturing Solutions Based on the global revenue market share in 2024, the company ranks fourth among global PIMS providers and ranks highest among enterprises headquartered in mainland China. The top five companies in the global PIMS market in 2024 were Company A, Company B, Company HH, the Group, and Company C, with market shares of 17.1%, 5.0%, 3.5%, 3.0%, and 2.8%, respectively. Overview of the Global Consumer Electronics Market Benefiting from the growth in demand for AI technology, the overall shipment volume of smart wearable devices (including AI glasses/XR devices, smartwatches, and smart bracelets) exceeded 169 million units in 2024, showing a significant year-on-year increase. With the deep integration of AI, IoT, and other technologies with emerging consumer electronic products, smart acoustic terminals, smart home devices, and outdoor electronics demonstrate strong development potential through feature expansion, upgraded interactive experiences, interconnectivity, and enhanced intelligent functions. In 2024, the shipment volumes of smart acoustic terminals, smart home devices, and outdoor electronics reached 330 million units, 903 million units, and 58 million units, respectively. It is expected that the integration of innovative consumer electronic product design with AI applications will further drive the replacement of such products. Board of Directors Information The board of directors consists of eight directors, including five executive directors and three independent non-executive directors. Equity Structure As of the last practicable date, the company is held approximately 37.49% by (i) Luxshare Limited (a company owned 50% each by Ms. Wang and Mr. Wang); and (ii) approximately 0.27% by Mr. Wang. Intermediary Team Joint Sponsors: CITIC SEC (Hong Kong) Limited, Goldman Sachs (Asia) LLC, China International Capital Hong Kong Securities Limited Company Legal Counsel: O'Melveny & Myers LLP, Han Kun Law Offices Legal Counsel for Joint Sponsors: Smithfield LLP, Zhong Lun Law Firm Reporting Accountants and Auditors: Hong Kong Li Xin Dehao Certified Public Accountants Co., Ltd Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultant: Fubon Capital Limited