Luxshare, the Chinese electronics maker that grew from a cable factory into a key Apple supplier, added a Hong Kong listing that opened at a record price of HK$63.28 per share. The debut raised HK$24.3 B (about US$3.1 B) and became the biggest listing in the city that year.

The share price dropped almost 9.6% on the first day, falling to a low of HK$57.2 before recovering toward HK$60. Investors flagged the company’s heavy reliance on Apple, which supplies more than two‑thirds of Luxshare’s revenue, especially as Apple shifts some production to India and Vietnam.

Luxshare’s dual‑listing strategy gives foreign investors easier access in a market where Chinese shares are tightly regulated. The new capital will help the firm expand production capacity abroad and diversify its customer base beyond Apple.

For consumers, the move signals more competition in the manufacturing of Air Pods, iPhones and Vision Pro components. For the industry, Luxshare’s IPO demonstrates that Chinese suppliers can attract significant overseas capital despite regulatory barriers.