Lingyi iTech (Guangdong) Company (002600.SZ), a major supplier for Apple and an AI-driven device components manufacturer, is preparing for a secondary H-share listing in Hong Kong aiming to raise around $1 billion USD. The company plans to commence a management roadshow next week, with Guotai Junan International serving as the sole sponsor for the transaction. This move follows the refiling of its dual-listing prospectus on May 20, 2026, and a prior application in November 2025, marking its third attempt at a Hong Kong IPO after an initial filing in June 2021 was terminated.
The capital raised from this equity offering is earmarked for expanding production infrastructure and financing strategic cross-border acquisitions, particularly in high-precision hardware segments like AI servers and humanoid robotics components. Lingyi iTech positions itself as a leading AI-driven intelligent manufacturing platform, providing core materials, high-precision functional components, modules, and precision assembly services to global clients, including the world's largest companies in AI terminal devices, new energy vehicles, and extended reality (XR) industries.
According to Frost & Sullivan, Lingyi iTech ranked first globally in the high-precision functional components market for AI terminal devices by revenue in 2024, holding a 6.7% market share, and third globally in the high-precision intelligent manufacturing platform market for AI terminal devices with a 1.5% market share. The company, which has been listed on the Shenzhen Stock Exchange since 2018 and featured in the Fortune China 500 for eight consecutive years, received approval from the China Securities Regulatory Commission (CSRC) on May 22, 2026, to issue up to 933,583,200 ordinary shares for its overseas listing.
This secondary listing strategy reflects a broader trend among Chinese Mainland industrial leaders to diversify dollar-denominated funding channels and shift corporate capital structures away from domestic retail dependency towards global institutional asset managers, amidst increasing cross-border supply chain integration.
