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Chinese maker of precision connectors, cables and electronics modules; a key Apple supplier for AirPods, cables and now assembly.
Chinese maker of precision connectors, cables and electronics modules; a key Apple supplier for AirPods, cables and now assembly.
Hong Kong-listed H shares of the Shenzhen-listed Luxshare (002475.SZ), the same business. It grew from connectors into assembly by buying plants, including Wistron's iPhone factories in Kunshan in 2020 and Leoni's automotive cable unit in 2024. Orders come device by device from Apple, so a few product programmes set the volume.
In one line: China's Amphenol plus a growing Foxconn-like Apple assembler.
Moat: narrow (customer qualification, scale, process know-how). Deeply qualified into Apple's supply chain, moving up from components to full device assembly.
Headquarters: Dongguan, China · Founded: 2004 · Employees: 416,197
Size Luxshare Precision Industry (2475.HK) is a Hong Kong Information Technology company (Electronic Components) with a market value of $55.2B, the 34th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$49.06 on 6 Nov 2026.
Growth Revenue grew 33.1% over the last twelve months (peer median +37.8%); the operating margin is 3.8% (peer median 17.5%).
Valuation It trades at 15.7× forward earnings against a peer median of 21.6× (4th cheapest of 16).
Capital Return on invested capital runs 6.4 points below its cost of capital (15.7% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$449B | HK$360B | HK$291B | HK$256B | HK$249B |
| Revenue growth | — | +24% | +14% | +3% | — |
| Gross profit | HK$62.9B | HK$39.4B | HK$27.6B | HK$26.9B | HK$28.1B |
| EBITDA | n/a | HK$29.7B | HK$23.5B | HK$23.3B | HK$21.6B |
| Net income | HK$20.6B | HK$18.0B | HK$14.5B | HK$12.1B | HK$10.7B |
| Free cash flow | -HK$11.4B | HK$2.29B | HK$18.0B | HK$18.6B | -HK$389M |
| Capital expenditure | HK$22.5B | HK$19.4B | HK$13.1B | HK$12.6B | HK$15.8B |
| Total debt | HK$174B | HK$117B | HK$71.5B | HK$44.2B | HK$37.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Luxshare Precision Industry 2475.HK | $55.2B | n/a | +33% | 4% | 15.7× | n/a |
| Hon Hai Precision Industry 2317.TW | $95.6B | -3% | +25% | 4% | 10.5× | n/a |
| AAC Technologies 2018.HK | $5.60B | -4% | +16% | 8% | 13.8× | 1.2% |
| Amphenol APH | $184B | +21% | +58% | 29% | 21.6× | 15.7% |
| GoerTek 002241.SZ | $13.1B | 0% | -3% | 2% | 25.5× | n/a |
| Sunny Optical 2382.HK | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2475.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.9% | -38.5% | 2nd highest of 15 |
| Distance from 52-week high | -25.9% | -52.4% | 3rd highest of 15 |
| Revenue growth (TTM) | +33.1% | +37.8% | 6th lowest of 16 |
| Operating margin | 3.8% | 17.5% | lowest of 16 |
| Forward P/E | 15.7× | 21.6× | 4th cheapest of 16 |
| ROIC minus cost of capital | -6.4 pp | +4.7 pp | lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Luxshare Precision Industry 2475.HK | Hong Kong | $55.2B | n/a | +33% | 4% | 15.7× | n/a | n/a |
| Unimicron Technology 3037.TW | Taiwan | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% | +8.3% |
| Corning GLW | United States | $91.4B | -43% | +19% | 17% | 25.4× | 24.7% | +6.7% |
| Suzhou Dongshan Precision Manufacturing 2384.HK | Hong Kong | $29.3B | n/a | +56% | 4% | 14.5× | 45.3% | n/a |
| Celestica CLS.TO | Canada | $26.3B | -44% | +61% | 9% | 11.5× | 11.0% | +17.6% |
| Tdk 6762.T | Japan | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% | +11.1% |
| Ibiden 4062.T | Japan | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% | +5.2% |
| Chaozhou Three-Circle (Group) 300408.SZ | China | $21.6B | -15% | +65% | 34% | 28.1× | 23.7% | +17.7% |
| Wus Printed Circuit (Kunshan) 002463.SZ | China | $21.2B | -29% | +61% | 28% | 18.2× | n/a | n/a |
| Shennan Circuit 002916.SZ | China | $20.4B | -36% | +51% | 18% | 22.6× | n/a | n/a |
| Victory Giant Technology (HuiZhou) 300476.SZ | China | $18.3B | -62% | +38% | 26% | 17.2× | n/a | n/a |
| Largan Precision 3008.TW | Taiwan | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% | +1.8% |
| NVT NVT | United States | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% | +14.3% |
| Nan Ya Printed Circuit Board 8046.TW | Taiwan | $17.1B | -12% | +34% | 12% | 26.1× | 58.7% | +0.8% |
| Amphenol APH | United States | $184B | +21% | +58% | 29% | 21.6× | 15.7% | +21.8% |
| Avary Holding (Shenzhen) 002938.SZ | China | $16.2B | -35% | +8% | 10% | 22.4× | n/a | n/a |