Apple Supplier Lingyi Seeks $1.1B Hong Kong IPO for AI and Robotics

Lingyi iTech, a component manufacturer based in Shenzhen and a supplier for Apple, is set to raise as much as HK$8.3 billion (US$1.1 billion) through an IPO in Hong Kong. The company will launch on the Hong Kong stock exchange this Friday, offering 811.8 million shares priced at up to HK$10.18 each. Notable cornerstone investors include GF Fund, Sunny Optical Capital, and smartphone manufacturer Honor. Located in Jiangmen, Guangdong province, Lingyi aspires to rank among the top three global suppliers of embodied-intelligence hardware. In September, it acquired an 80% interest in a joint venture with AgiBot. Earlier this month, a robotics factory was inaugurated in Beijing, with plans to boost annual production from 10,000 units to 500,000 by 2030. By the end of November, the company had either assembled or supplied parts for 5,000 humanoid robots, securing key partnerships with over 20 Chinese robotics firms and leading North American clients.