New Stock News | Profit of hundreds of millions, gross profit margin recovery "Fruit Chain" giant Luxshare Precision (002475.SZ) to list in Hong Kong again

GKFX Financial APP learned that, according to the Hong Kong Stock Exchange disclosure on February 27, Lixun Precision Industry Co., Ltd. (Ticker: Lixun Precision (002475.SZ)) has submitted an application to the Main Board of the Hong Kong Stock Exchange, with CITIC Securities, Goldman Sachs, and China International Capital Corporation serving as joint sponsors. The company previously submitted a listing application to the Hong Kong Stock Exchange on August 18, 2025.

The prospectus reveals that Lixun Precision is a leading global innovative technology company specializing in precision manufacturing. It is dedicated to providing cross-industry, vertically integrated development and manufacturing solutions—from precision components and modules to systems—for customers in consumer electronics, automotive electronics, communications, data centers, and other terminal markets. Based on 2024 sales, one in every two smartphones, three in every four smart wearables, and one in every five smart vehicles worldwide use products from Lixun Precision.

According to Frost & Sullivan data, in 2024, Lixun Precision ranked fourth globally and first in Mainland China in the Precision Intelligent Manufacturing Solutions (PIMS) industry. It is also a leader in key business lines such as consumer electronics, automotive electronics, and communications & data centers.

In 2024, the company ranked second globally and first in Mainland China in the PIMS market for consumer electronic components and modules, with an 11.3% global market share; fourth globally and first in Mainland China in the automotive wiring harness PIMS market, with a 12.2% global market share; and fourth globally and first in Mainland China in the copper interconnect PIMS market for communications and data centers, with a 4.4% global market share. Through consistent outstanding performance, Lixun Precision has been listed on the Fortune Global 500 for three consecutive years from 2023 to 2025.

Revenue

For the nine months ending September 30, 2023, 2024, and 2025, the company achieved revenues of approximately RMB 231.905 billion, RMB 268.795 billion, and RMB 220.915 billion, respectively.

Annual/Period Profit

For the nine months ending September 30, 2023, 2024, and 2025, the company recorded profits 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, 2023, 2024, and 2025, the company’s gross profit margins were 11.1%, 10.1%, and 11.8%, respectively.

PIMS refers to customer-centric, technology-driven manufacturing services that integrate advanced processing, rapid prototyping, automation control, and intelligent systems to deliver high-precision components, functional modules, and system integration. These solutions go beyond standardized production, featuring deep customization aimed at transforming breakthrough product concepts into mass-producible, high-technology-standard products. Their products are widely used in advanced consumer electronics, smart vehicles, and communication & data centers—high-tech and innovation-driven fields.

Global Precision Manufacturing Solutions Market Size

Based on 2024 global revenue market share, the group ranks 4th among global PIMS providers, the highest among companies headquartered in Mainland China. In the global PIMS market, the top five companies in 2024 are Company A, Company B, HH Company, this 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 Development

Driven by increasing demand for AI technology, the total shipment volume of smart wearables (including AI glasses/XR devices, smartwatches, and fitness bands) exceeded 169 million units in 2024, a significant year-over-year increase. Benefiting from the deep integration of AI, IoT, and emerging consumer electronics, products such as smart acoustic terminals, smart home devices, and outdoor electronics show strong development potential due to expanded functions, upgraded interactive experiences, connectivity, and enhanced smart features. In 2024, shipments of smart acoustic terminals, smart home devices, and outdoor electronics reached 330 million, 903 million, and 58 million units, respectively. It is expected that innovative consumer electronic designs combined with AI applications will further drive product upgrades.

Board of Directors Information

The board consists of eight directors, including five executive directors and three independent non-executive directors.

As of the latest practical date, the company is owned approximately 37.49% by (i) Lixun Limited (a company equally owned by Ms. Wang and Mr. Wang, each holding 50%) and (ii) approximately 0.27% by Mr. Wang.

Joint Sponsors: CITIC Securities (Hong Kong) Limited, Goldman Sachs (Asia) Limited, China International Capital Corporation Hong Kong Securities Limited

Legal Advisors: Ouyang & Partners, Han Kun Law Offices

Legal Counsel for Joint Sponsors: Smith Fiel LLP, Zhong Lun Law Firm

Reporting Accountants and Auditors: Hong Kong Lixin Dehao Certified Public Accountants Limited

Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch

Compliance Advisor: Fubi Capital Limited