LUXSHARE ICT's stock price plummeted 5.08% during intraday trading on Monday, extending a period of weakness for the recently listed company.
The decline reflects persistent selling pressure since the company's H-share debut on the Hong Kong Stock Exchange, which marked the largest IPO on the HKEx this year. The stock broke its issue price on the first trading day and has remained below the offering price since. Additionally, the decline in its A-share counterpart, with AH linkage effects, has further weighed on the Hong Kong-listed shares.
Market analysts point to ongoing concerns over the company's high business concentration, with consumer electronics accounting for over 80% of revenue, and significant reliance on Apple as a single customer, which contributed approximately 56.7% of total revenue in fiscal year 2025.
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