BEIJING – Luxshare Precision Business Co Ltd, an Apple Inc provider, stated on Monday it goals to lift as much as 13.5 billion yuan ($2.13 billion) to fund six tasks, together with constructing a manufacturing line for wearable units.
The corporate plans to situation as much as 2.1 billion shares to as much as 35 buyers at a worth that might be disclosed at a later stage, Luxshare stated in a submitting to the Shenzhen inventory alternate.
The transfer got here as Luxshare pushed to “enhance the corporate’s manufacturing capability in downstream functions corresponding to shopper electronics and good automobiles,” it stated within the submitting.
The six tasks included the development of manufacturing strains of good wearable units, good cell terminal precision elements, and high-voltage connection techniques for brand spanking new power automobiles, based on its submitting.
Based in 2004, Luxshare has lately turn into a fast-growing provider for Apple. It has steadily moved up the hardware big’s worth chain, from making connector cables for the iPhone and Macbook to manufacturing Airpods.
In 2020 the corporate acquired two iPhone meeting crops from Taiwan-based Wistron Corp.
That transfer is seen by analysts as an indication of extra indigenous Chinese language corporations making deeper inroads into Apple’s provide chain.
($1 = 6.3352 Chinese language yuan renminbi)
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