External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

Luxshare Precision Industry / Equity Bottom-Up

<ul><li>We raise TP to RMB75.55 (25% upside) to reflect our more positive view on iPhone 17/ foldable cycle, stronger synergy from Leoni/ODM integration, and AI server component pipeline (connectivity/thermal/power).</li><li>We raise FY25-27E EPS by 0-19% to reflect FY25 guidance, enhanced synergy and better margin.</li><li>We expect Luxshare to deliver 27% earnings CAGR over 2025-27E, driven by 9%/54%/47% FY25-27E revenue CAGR from consumer electronics/automotive/ communication segments. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We raise TP to RMB75.55 (25% upside) to reflect our more positive view on iPhone 17/ foldable cycle, stronger synergy from Leoni/ODM integration, and AI server component pipeline (connectivity/thermal/power).We raise FY25-27E EPS by 0-19% to reflect FY25 guidance, enhanced synergy and better margin.We expect Luxshare to deliver 27% earnings CAGR over 2025-27E, driven by 9%/54%/47% FY25-27E revenue CAGR from consumer electronics/automotive/ communication segments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Luxshare (002475 CH) - Stronger Outlook in Apple Upgrade Cycle and Leoni/ODM Synergies...

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Luxshare Precision Industry / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:12310:1" rel="noopener">Luxshare Precision Industry (002475 CH)</a> (LP), a precision intelligent manufacturer, aims to raise around US$2bn in its H-share listing.</li>
<li>LP provides cross-sector, vertically integrated development and intelligent manufacturing solutions—from components and modules to systems—for global clients across consumer electronics, automotive electronics, communication and data centers, and other end markets.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Luxshare Precision Industry (002475 CH) (LP), a precision intelligent manufacturer, aims to raise around US$2bn in its H-share listing.
LP provides cross-sector, vertically integrated development and intelligent manufacturing solutions—from components and modules to systems—for global clients across consumer electronics, automotive electronics, communication and data centers, and other end markets.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Luxshare Precision A/H Listing - Earnings Growth and Stock Have Been Rebounding

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>Apple suppliers shifting focus to India and China for iPhone production growth, adapting supply chains to changing markets.</li><li>Jensen Huang boosting AI chip production by visiting SPIL's new Taiwan factory; Huawei's Mate X6 smartphone making global comeback in EMEA markets.</li><li>TSMC forecasting 5% revenue decrease in 1Q25, setting record capex for 2025; India-US tech ties in jeopardy due to export controls on AI chips.</li></ul>

Apple suppliers shifting focus to India and China for iPhone production growth, adapting supply chains to changing markets.Jensen Huang boosting AI chip production by visiting SPIL's new Taiwan factory; Huawei's Mate X6 smartphone making global comeback in EMEA markets.TSMC forecasting 5% revenue decrease in 1Q25, setting record capex for 2025; India-US tech ties in jeopardy due to export controls on AI chips.

Tech Supply Chain Tracker (17-Jan-2025): Apple's supply chain shifts to India and China.

<ul><li>Infineon expands presence in Southeast Asia with new fab in Thailand for backend operations, strengthening its manufacturing capabilities in the region.</li><li>Biden's AI rules emphasize closed models, sparking discussion about the importance of open-source technology development in the industry.</li><li>EU urges Trump to lift AI export ban affecting 17 member states, imposed by Biden, to facilitate international cooperation in the field of artificial intelligence.</li></ul>

Infineon expands presence in Southeast Asia with new fab in Thailand for backend operations, strengthening its manufacturing capabilities in the region.Biden's AI rules emphasize closed models, sparking discussion about the importance of open-source technology development in the industry.EU urges Trump to lift AI export ban affecting 17 member states, imposed by Biden, to facilitate international cooperation in the field of artificial intelligence.

Tech Supply Chain Tracker (16-Jan-2025): Infineon builds new fab in Thailand

<ul><li>TSMC ends partnership with PowerAIR in Singapore over Huawei worries, impacting supply chain in tech industry. </li><li>China retaliates against US with customs actions; CXMT starts manufacturing DDR5 chips, meeting demand for next-gen technology.</li><li>India plans display fabrication facility, offering growth potential but encountering challenges. Luxshare's purchase of Wingtech ODM to enhance design capabilities, reduce reliance on Apple, and boost tech industry prowess.</li></ul>

TSMC ends partnership with PowerAIR in Singapore over Huawei worries, impacting supply chain in tech industry. China retaliates against US with customs actions; CXMT starts manufacturing DDR5 chips, meeting demand for next-gen technology.India plans display fabrication facility, offering growth potential but encountering challenges. Luxshare's purchase of Wingtech ODM to enhance design capabilities, reduce reliance on Apple, and boost tech industry prowess.

Tech Supply Chain Tracker (14-Jan-2025): TSMC ends PowerAIR Huawei partnership.

China

Luxshare Precision Industry Co., Ltd. researches, manufactures and sells connectors. The Company's products are widely used in computers, communication devices, consumer electronics products and automobiles.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Luxshare Precision Industry (002475 CH)

Luxshare (002475 CH) - Stronger Outlook in Apple Upgrade Cycle and Leoni/ODM Synergies...

We raise TP to RMB75.55 (25% upside) to reflect our more positive view on iPhone 17/ foldable cycle, stronger synergy from Leoni/ODM integration,...

CMB International

Luxshare Precision A/H Listing - Earnings Growth and Stock Have Been Rebounding

Luxshare Precision Industry (002475 CH) (LP), a precision intelligent manufacturer, aims to raise around US$2bn in its H-share listing. In this...

Sumeet Singh

Tech Supply Chain Tracker (17-Jan-2025): Apple's supply chain shifts to India and China.

Apple, Huawei, TSMC, and Acer make moves in the tech industry while US-India tech ties face challenges and Trump's response to economic crisis...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (16-Jan-2025): Infineon builds new fab in Thailand

Infineon expands in Thailand, Biden's AI rules spark discussion, EU urges Trump to lift export ban, Indichip & Yitoa to build SiC fab in India, CES...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (14-Jan-2025): TSMC ends PowerAIR Huawei partnership.

TSMC severs relationship with PowerAIR over Huawei worries, China responds to US with customs actions, CXMT starts DDR5 production; India plans...

Tech Supply Chain Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)