Core Viewpoint - Luxshare Precision Industry Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming for an "A+H" listing after being listed on the Shenzhen Stock Exchange since September 2010 [4]. Company Overview - Luxshare Precision is a precision manufacturing innovation technology company providing integrated development and manufacturing solutions across various fields, including consumer electronics, automotive electronics, and communication and data centers [4]. - According to Frost & Sullivan, Luxshare ranks fourth globally and first in mainland China in the precision manufacturing solutions (PIMS) industry by revenue in 2024, with a comprehensive and diverse product portfolio [4]. Financial Performance - Revenue and profit figures for Luxshare from 2022 to 2024 are as follows: - 2022: Revenue of 214.03 billion RMB, Profit of 10.49 billion RMB - 2023: Revenue of 231.91 billion RMB, Profit of 12.24 billion RMB - 2024: Revenue of 268.79 billion RMB, Profit of 14.58 billion RMB [6]. - In Q1 2025, Luxshare reported revenue of 61.79 billion RMB, a year-on-year increase of 17.9%, and a profit of 3.38 billion RMB, up 31.25% year-on-year [5]. Leadership - Wang Laichun, the founder and controlling shareholder of Luxshare, has a notable background, transitioning from a factory worker to a prominent business leader with a market value exceeding 200 billion RMB [7]. - Wang's compensation has seen significant growth, with 2024's salary reaching 7.33 million RMB, a 266.65% increase compared to previous years [7][8]. Wealth Ranking - Wang Laichun's wealth is estimated at 61.5 billion RMB, ranking her 362nd on the 2025 Hurun Global Rich List, an increase of 65 places from the previous year [10]. - On the 2024 Hurun China Rich List, she ranks 59th with a wealth of 62 billion RMB, becoming the richest woman in Chaoshan [10][13].

| | | | 未經審核 | | | | --- | --- | --- | --- | --- | --- | | | | | 截至以下日期止三個月 | | | | | 2025年 | 2024年 | | 2025年 | | | | 6月30日 | 6月30日 | 同比變動 | 3月31日 | 環比變動 | | | | | (人民幣百萬元,除非另有說明) | | | | 收入 | 115.956.1 | 88.887.8 | 30.5% | 111,293.3 | 4.2% | | 毛利 | 26.101.0 | 18.394.2 | 41.9% | 25.405.9 | 2.7% | | 經營利酒 | 13.436.7 | 5.888.7 | 128.2% | 13.125.4 | 2.4% | | 除所得税前利潤 | 14.402.8 | 6.679.4 | 115.6% | 13.168.0 | 9.4% | | 期間利潤 | 11.873.2 | 5.069.7 | 134.2% | 10.892.7 | 9.0% | | 非國際財務報告準則計量: | | | | | | | 經調整淨利潤 | 10 ...

Core Viewpoint - Luxshare Precision's progress towards listing on the Hong Kong Stock Exchange (HKEX) is advancing, with the company submitting its application for H-share issuance on August 18, 2025 [1] Group 1: Company Overview - Luxshare Precision is a leading global precision manufacturing and innovative technology company, providing integrated development from precision components to systems across various fields including consumer electronics, automotive electronics, and data centers [1] - The company has a significant reliance on a single customer, with revenue from its largest client accounting for 73.3%, 75.2%, and 70.7% of total revenue in 2022, 2023, and 2024 respectively [1] Group 2: Fundraising and Utilization - The net proceeds from the IPO will primarily be used for expanding and upgrading existing production bases, particularly for global capacity expansion in automotive and consumer electronics [1] - Investment in technology research and development, as well as improving manufacturing processes, is also a key focus for the use of raised funds [1] Group 3: Business Growth - The compound annual growth rate (CAGR) of Luxshare Precision's automotive electronics business is projected to reach 49.6% from 2022 to 2024, with expected revenue of 13.8 billion yuan in 2024, accounting for 5.1% of total revenue [1] - In the first quarter of 2025, the revenue growth rate for this business segment is expected to be significant [1] Group 4: Global Expansion - Luxshare Precision has established manufacturing bases in various countries including China, Vietnam, Thailand, Indonesia, Malaysia, Romania, Morocco, India, Mexico, and Germany, indicating a broad global capacity layout [1] - In China, the company has set up manufacturing bases in multiple provinces, effectively integrating local industrial resources and high-quality talent [1]

Core Insights - The article highlights the ongoing recruitment surge at Foxconn's Zhengzhou facility, driven by the peak season for electronic information industry labor [2][4][6] - The influx of workers, including many returning seasonal laborers, reflects the growing demand for skilled and unskilled labor in the region [3][4][8] Group 1: Recruitment and Workforce Dynamics - Foxconn's Zhengzhou facility has seen a significant increase in job applicants, with a notable 70% of new hires being experienced workers returning for multiple stints [4] - The facility currently employs over 95% local workers from Henan province, with many employees having family members also working at Foxconn [4] - The average monthly income for basic positions ranges from 5,000 to 7,000 yuan, while skilled workers can earn over 10,000 yuan [6][7] Group 2: Technological Advancements and Skills Demand - Foxconn is transitioning towards automation and digital manufacturing, which has increased the demand for skilled technical personnel [6][7] - The facility has been recognized as a "WEF Lighthouse Factory," showcasing its advancements in automation that have improved production efficiency by 102% [6] - The recruitment strategy includes flexible work arrangements to attract a diverse workforce, particularly targeting the youth demographic aged 18 to 35 [7] Group 3: Economic Impact and Industry Growth - Since its establishment in 2010, Foxconn has significantly contributed to the local economy, accounting for approximately 60% of Henan's total import and export value [8] - The Zhengzhou Airport Economic Zone has developed a comprehensive ecosystem for the electronic information industry, with an expected output value of 518.08 billion yuan in 2024 [8][9] - The region is home to over 200 smart terminal enterprises, indicating a robust industrial cluster that supports economic growth [9][10]

Group 1 - The stock price of Luxshare Precision as of August 19, 2025, is 39.10 CNY, down 1.24% from the previous trading day [1] - The company operates in the consumer electronics sector, with business segments including consumer electronics, automotive electronics, and communication and data centers [1] - In 2024, Luxshare's revenue reached 268.795 billion CNY, with the consumer electronics segment accounting for 83.37% of total revenue [1] Group 2 - The automotive electronics segment saw a year-on-year revenue growth of 48.69% [1] - On August 18, Luxshare officially submitted its main board listing application to the Hong Kong Stock Exchange, aiming to raise funds for global capacity expansion, technology research and development, and supply chain investment [1] - The prospectus indicates that 70.7% of the company's revenue in 2024 came from its largest customer, widely believed to be Apple Inc. [1] Group 3 - Luxshare recently completed the acquisition of the German automotive wiring harness company Leoni Group to enhance its global presence in the automotive electronics sector [1] - On August 19, the net outflow of main funds from Luxshare was 621 million CNY, with a cumulative net outflow of 519 million CNY over the past five days [1]

从工价变化可以窥见工厂生产需求的变化。 按照惯例，苹果会在9月的秋季发布会上推出最新款iPhone手机。记者了解到，近期苹果手机生产进入了旺季。 郑州富工联招聘公众号今日发布消息称，郑州富士康进入旺季高峰期。港区A事业群返费工底薪为每月2100元，再加上加班费，以及在职满90天发放的最高 8000元返费、1300元津贴和补贴，预估做满3个月工资在1.92万元~2.3万元之间。小时工最高时薪则为26元，叠加2元/小时补贴和另外800元补贴。"此高价仅 限周日到周三4天时间。"该公众号称。 A事业群即原来的iDPBG事业群，负责iPhone组装等业务。在深圳，记者今日走访龙观人才市场了解到，深圳富士康iDPBG部门的小时工工价也达到26元/小 时。该人才市场多名中介称，现在正是富士康招聘高峰期，每天进富士康的人数预计有上千人。 富士康是苹果最为人所知的代工厂，河南郑州是富士康主要的手机生产地，深圳也有组装iPhone的厂区。 "今天我们送了一两百人进去富士康，加上其他中介送进去的，估计有一千多个人。"记者今日午后走访深圳龙观人才市场时，一名中介表示。还有一名中介 表示，她今天送了几十个人进富士康。 记者到达龙观人 ...

Core Viewpoint - Apple is entering the peak production season for its latest iPhone models, with significant recruitment activity at Foxconn's factories in Zhengzhou and Shenzhen, indicating strong demand for iPhone assembly [2][4][6]. Group 1: Recruitment and Labor Market - Foxconn's Zhengzhou facility is experiencing a surge in recruitment, with thousands of job seekers visiting daily since late July, and long queues reported at the recruitment center [6]. - The hourly wage for workers at Foxconn has increased, with reports of wages reaching up to 26 yuan per hour in Shenzhen and 25-28 yuan in other departments, reflecting the high demand for labor [9][11]. - Recruitment agencies indicate that the demand for workers in the iPhone assembly departments is particularly high, with many workers able to secure stable 10-hour shifts daily [4][11]. Group 2: Wage Trends - The recruitment incentives at Foxconn have seen significant fluctuations, with the return fee for workers increasing from 5,500 yuan in mid-July to 8,000 yuan by the end of July, along with additional bonuses and subsidies [7]. - Compared to previous years, the current return fees are lower, with last year's peak reaching 8,500 yuan and hourly wages in 2022 hitting 31 yuan, indicating a potential decline in labor costs as the peak season ends [11]. Group 3: Market Performance and Strategy - Global smartphone shipments saw a slight decline in Q2 2023, with Apple experiencing a 2% drop in shipments, while Samsung's shipments grew by 7%, maintaining its market leadership [11]. - Apple has implemented strategic price adjustments for the iPhone 16 series, with discounts reaching up to 1,400 yuan in some channels, aimed at mitigating the decline in sales volume [11]. - Analysts speculate that Apple is preparing to launch a foldable smartphone, which could revitalize sales through innovation in smartphone design [12].

Core Viewpoint - Luxshare Precision's secondary listing process in Hong Kong has advanced, with the company submitting its main board listing application to the Hong Kong Stock Exchange on August 18, 2023 [1][3] Group 1: IPO Details - The IPO is expected to raise over $1 billion, primarily for global strategic expansion [3] - Luxshare is the last among the three major "fruit chain" giants in A-shares to initiate a Hong Kong listing, following Lens Technology and GoerTek [3] - The joint sponsors for the listing are CITIC Securities, Goldman Sachs, and CICC [3] Group 2: Financial Performance - Luxshare's revenue is projected to grow from 214.03 billion yuan in 2022 to 268.80 billion yuan in 2024, with a compound annual growth rate exceeding 10% [4] - Net profit attributable to shareholders is expected to rise from 9.16 billion yuan in 2022 to 13.37 billion yuan in 2024, an increase of 45.8% [4] - In Q1 2025, the company reported revenue of 61.79 billion yuan, a year-on-year increase of 17.90%, and a net profit of 3.04 billion yuan, up 23.17% [4] Group 3: Business Structure and Strategy - Consumer electronics remain the core business, projected to generate 224.09 billion yuan in 2024, accounting for 83.37% of total revenue [4] - The automotive electronics sector, viewed as a key growth area, is expected to achieve revenue of 13.76 billion yuan in 2024, a growth of 48.69% [4] - Luxshare has initiated a global expansion strategy in the automotive sector, acquiring a 50.1% stake in Leoni AG, a leading automotive wiring company [5] Group 4: Customer Concentration - Luxshare's top five customers accounted for 78.5% of total sales in 2024, with Apple being the largest customer, contributing 70.74% of total sales [6]

Core Viewpoint - Apple is entering its production peak season for new iPhone models, leading to increased hiring and wage incentives at Foxconn's Zhengzhou facility [1] Group 1: Production and Hiring Trends - Apple typically launches its latest iPhone models during the September fall event, marking the start of the production peak [1] - Foxconn's Zhengzhou facility has announced a hiring surge, with base salaries for workers in the A business group starting at 2,100 yuan per month, plus overtime pay and additional bonuses [1] - The estimated total earnings for workers completing three months of employment can range from 19,200 yuan to 23,000 yuan [1] Group 2: Wage Structure and Incentives - Hourly workers at Foxconn can earn up to 26 yuan per hour, with an additional 2 yuan per hour subsidy and an extra 800 yuan in bonuses [1] - The high wage rates are applicable only from Sunday to Wednesday for four days a week [1] - In Shenzhen, hourly wages for workers in the iDPBG department also reached 26 yuan per hour, indicating a competitive labor market [1] Group 3: Labor Market Dynamics - The current hiring peak at Foxconn is expected to see thousands of new workers entering the facility daily [1] - The A business group, previously known as the iDPBG group, is primarily responsible for iPhone assembly operations [1]

Core Viewpoint - Luxshare Precision's application for H-share listing on the Hong Kong Stock Exchange marks a significant step in its globalization strategy, aiming to enhance its financing capabilities and governance transparency [1][2]. Group 1: Company Overview - Luxshare Precision is a leading precision manufacturing technology company, providing integrated development and manufacturing solutions across various sectors, including consumer electronics, automotive electronics, and data centers [1]. - The company's products are widely used, with projections indicating that by 2024, one in every two smartphones, one in every three wearable devices, and one in every five smart cars will utilize its products [1]. Group 2: Financial Dependency - The revenue from Luxshare Precision's largest customer, identified as Apple, accounted for 73.3%, 75.2%, and 70.7% of total revenue in 2022, 2023, and 2024, respectively, indicating a heavy reliance on a single client [1]. Group 3: Listing and Fund Utilization - The application for H-share listing is part of a broader strategy to deepen global expansion, with the net proceeds from the offering intended for expanding production capacity, investing in R&D, and acquiring quality targets in the supply chain [2]. - The company plans to use part of the funds to repay bank loans and supplement working capital [2]. Group 4: Business Growth - Luxshare Precision's automotive electronics business has shown a compound annual growth rate of 49.6% from 2022 to 2024, with revenue reaching 13.8 billion yuan in 2024, representing 5.1% of total revenue [3]. - In Q1 2025, the automotive business revenue growth accelerated to 98.9% year-on-year [3]. Group 5: Global Production Strategy - The company has established manufacturing bases in various countries, including China, Vietnam, Thailand, Indonesia, Malaysia, Romania, Morocco, India, Mexico, and Germany, to optimize its global market layout and enhance responsiveness to customer demands [4]. - In China, Luxshare has set up bases in multiple provinces, leveraging local resources and talent to create a hub for precision manufacturing [4]. - The Southeast Asian and Eastern Asian operations benefit from lower labor costs and favorable policies, while the European and American bases allow for closer proximity to local markets, improving delivery times and market responsiveness [4].