By Jason Chau
Smart-device maker Shanghai Longcheer has started taking orders for its secondary listing in Hong Kong, the latest Chinese tech company to tap the city's financial markets amid a fundraising boom.
The company plans to sell 52.3 million shares at a maximum offer price of 31.00 Hong Kong dollars, raising up to HK$1.62 billion, equivalent to US$207.7 million.
The public offering started Wednesday and is due to close Jan. 19. Shares are expected to start trading on Jan. 22, according to a filing.
Longcheer said it intends to use the net proceeds to expand production capacity, bolster ongoing research and development initiatives, improve marketing efforts and support strategic investments or acquisitions globally.
Longcheer said it is the world's largest smartphone original design manufacturer by shipments with a market share of over 32% in 2024, citing data from market research firm Frost & Sullivan.
Founded in 2004, the company offers full-stack research, design, manufacturing and delivery support to established smart-device brands including Xiaomi, Samsung Electronics, Lenovo and Oppo. Its main revenue source is complete device sales, which includes sourcing electronic components and materials, overseeing production and delivering fully assembled devices.
Longcheer first went public in Shanghai in 2024. The company's A-shares were up 1.2% on Wednesday morning.
Chinese technology companies have tapped the Hong Kong market in recent months, including AI startups and chip designers such as MiniMax, Shanghai Biren and GigaDevice, amid optimism around China's technological innovation and Beijing's push to achieve self-sufficiency in key technologies.
Write to Jason Chau at jason.chau@wsj.com
(END) Dow Jones Newswires
January 13, 2026 22:33 ET (03:33 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments