China's Lingyi iTech Guangdong Co., a key supplier of electronics components for devices like Apple iPhones, successfully raised HK$8.3 billion, equivalent to about $1.1 billion, through its Hong Kong listing. The offering saw its shares priced at the maximum of HK$10.18 apiece, indicating robust investor interest. The company even had to reject more than 100 orders due to the high demand. This listing marks a significant step for Lingyi iTech as it seeks to expand its operations.
The offering involved 811.8 million shares and represents a substantial discount to its existing Shenzhen-listed stock. On June 24, 2026, the Hong Kong offering price was nearly 50% lower than Lingyi's Shenzhen closing price of 17.66 yuan. Earlier in the month, around June 17, 2026, the proposed maximum price of HK$10.18 per share was already noted to be a 44% discount to its Shenzhen stock's trading price of 15.69 yuan.
Lingyi iTech is leveraging this capital injection to diversify beyond its traditional smartphone component business into emerging areas such as AI servers and humanoid robotics. The company has articulated ambitions to become a top-tier global supplier in embodied-intelligence hardware. This strategic shift is underscored by its acquisition of an 80% stake in a joint venture with robot maker Agibot in September and the recent opening of a robotics factory in Beijing with plans to dramatically increase annual production of humanoid robots from 10,000 units this year to 500,000 by 2030. Trading of Lingyi's H shares on the Main Board of the Stock Exchange is anticipated to begin at 9:00 a.m. on June 26, 2026, under the stock code 1688, with each board lot comprising 660 shares.
