Although its name is barely known in the West, this company is worth more than $70 billion, and its founding story is particularly fascinating.
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Wang was a production line worker at the Chinese company Foxconn.
The company is famous as one of Apple's largest iPhone assembly contractors, but it is also notorious for its extremely harsh working conditions.
Wang worked at the factory for ten years, during which she advanced rapidly and reached significant management positions. During this time, she closely observed the various processes on the assembly line, acquiring invaluable knowledge on how to build one of the world's most highly coveted technological devices.
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Wang and her brother left Foxconn, and in 2004 they founded a new company called Luxshare (Luxshare Precision Industry).
The company initially manufactured cables for Foxconn itself, and later for Apple. It then moved on to manufacturing AirPods, and since 2020, it has been competing directly with Foxconn with its own iPhone assembly plants.
The crowning achievement came with the launch of Apple's Vision Pro headset, when the company was selected as the sole assembly contractor for the product.
The Apple Vision headset is the most complex device Apple has ever manufactured, as it packs a massive number of components and sensors into a relatively small, asymmetrical package. The fact that the company was chosen to assemble it is a testament to the technological sophistication and precision of its production lines.
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The company has been traded on the Shenzhen Stock Exchange since 2010, and this week it also began trading on the Hong Kong Stock Exchange, raising over $3 billion.
The massive demand for its stock stems from its expansion into the server farm sector, which has become the market's most pressing need due to the artificial intelligence revolution.
The company specializes in manufacturing optical communication equipment and advanced cooling technologies for AI server computing clusters, a field experiencing record-breaking demand right now.
The secondary offering in Hong Kong allows capital to flow in from Western investors, who avoid investing through Chinese stock exchanges due to concerns over the Chinese government's involvement in the private market.
The company plans to use the raised capital to expand its operations and break free from its dependence on Apple as a primary client, with its main focus being on the server farm sector and the automotive industry, which has been booming in China recently.
Pictured: Luxshare headquarters in Shenzhen.
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