Overview
Lingyi iTech Guangdong Co (HK:1688), an Apple supplier already listed in Shenzhen, made its debut on the Hong Kong Stock Exchange on 26 June 2026 after completing an initial public offering that raised HK $8.3 billion (approximately US $1.06 billion). The shares were priced at HK $10.18 each, which was the top of the marketed price range.
Investors
The offering attracted cornerstone investors GF Fund Management, Value Partners Group and Qube Research & Technologies, as disclosed in the prospectus.
Use of Proceeds
The company said that roughly 37.6 % of the IPO proceeds will be directed toward expanding manufacturing capacity and upgrading processes for AI‑related products, including AI computing servers, optical‑communication infrastructure and humanoid‑robot hardware.
Business Performance
Lingyi iTech reported a 42 % increase in net profit for 2025, reaching 2.6 billion yuan, on a 16 % rise in revenue. First‑quarter revenue continued to grow in the current year despite pressure on earnings from foreign‑exchange movements.
Market Context
The listing is described as one of the largest Hong Kong listings this year and underscores the resurgence of the city’s equity capital markets, where technology and AI‑linked companies have driven a pickup in fundraising activity. It is the biggest offering since April and comes amid expectations of further new listings before companies update their financial statements.