Zhongji Innolight's shares surged after receiving approval for a major Hong Kong listing worth up to $8 billion, potentially the city's largest this year, as the Chinese optical transceivers firm gauges investor interest.
Luxshare Precision Industry, a major Apple supplier, saw its shares end lower on their Hong Kong trading debut Thursday, despite raising $3.09 billion in its IPO, the largest this year. The stock closed down 1.55% after opening lower.
Luxshare Precision Industry's shares dropped over 5% in their Hong Kong trading debut Thursday, following its $3.09 billion IPO, the largest this year. The Apple supplier, already listed in Shenzhen, priced shares at HK$63.28, with the stock trading at HK$60 early on.
中國電子製造大廠、蘋果供應鏈夥伴立訊精密（Luxshare Precision Industry）7日在香港交易所上市，IPO發行價為每股63.28港元，募資242.7億港元。然而，上市首日股價表現不如預期，早盤一度下挫逾9%，顯示市場對其市值與成長空間持審慎態度。
Luxshare Precision Industry, an Apple supplier, saw its shares drop over 5% in its Hong Kong trading debut on Thursday. The company priced its IPO at HK$63.28 per share, raising HK$24.27 billion ($3.09 billion).
Shenzhen-based Luxshare, a key Apple supplier, has secured regulatory approval for a Hong Kong listing after receiving the green light from the China Securities Regulatory Commission. The company reported a 24% revenue surge to 332 billion yuan and a 24% net profit increase to 16.6 billion yuan in 2025.
OpenAI is reportedly collaborating with MediaTek and Qualcomm to develop custom smartphone processors, with Luxshare handling system design and manufacturing. Mass production is anticipated by 2028, signaling OpenAI's ambition to create an AI agent-focused smartphone. This move aims to provide a seamless AI experience by controlling both hardware and software, leveraging the smartphone's real-time user data.
Qualcomm shares rose 7% on Monday after analyst Ming-Chi Kuo reported the company is partnering with OpenAI to develop smartphone processing chips, working alongside Taiwanese semiconductor firm MediaTek and Chinese manufacturer Luxshare. Mass production is expected in 2028. The partnership supports OpenAI's hardware ambitions following its $6.4 billion acquisition of Jony Ive's startup io last year.
Industry analyst Ming-Chi Kuo reports that OpenAI is developing a smartphone in collaboration with MediaTek and Qualcomm for chip development and Luxshare for co-design and manufacturing. The device would use AI agents instead of traditional apps to complete tasks, potentially bypassing restrictions imposed by Apple and Google on app access. Specifications are expected to be finalized by late 2026 or early 2027, with mass production starting in 2028. This aligns with OpenAI's stated goal of announcing its first hardware product in the second half of 2026.
Qualcomm shares rose 12% in premarket trading after reports emerged of a partnership with OpenAI to develop smartphone processing chips. Taiwanese semiconductor firm MediaTek and Chinese manufacturer Luxshare are also involved in the project, with mass production expected in 2028, according to analyst Ming-Chi Kuo. The partnership aligns with OpenAI's hardware ambitions following its $6.4 billion acquisition of Jony Ive's startup io last year.
