Electronics contract maker Luxshare Precision Industry Co. has begun gauging investor interest for a Hong Kong IPO that could raise roughly $3 billion. Sources familiar with the process, who asked anonymity, say the filing would rank among the city’s largest offerings this year. A successful float would give the supplier of Apple’s AirPods a public‑market valuation boost, a major global milestone.

Luxshare has surged from a low‑margin assembler to a key tier‑one supplier for Apple, expanding into wearables, automotive and medical devices. The Hong Kong market offers a convenient conduit to Chinese capital while preserving a dollar‑denominated listing, a formula that attracted rivals such as BYD Electronics last year. Investors eye the deal for exposure to the fast‑growing consumer‑electronics supply chain.

Analysts estimate the float could value Luxshare at roughly $30 billion, dwarfing recent tech listings in the region. A strong debut would pressure Hong Kong’s stalled IPO pipeline and signal renewed appetite for mainland‑linked hardware firms. With Apple’s supply chain under scrutiny, the listing provides a benchmark for the company’s profitability. The offering also gives Luxshare access to cheaper financing for its R&D push.