Apple supplier Luxshare jumps on upbeat first-half earnings, outlook

Luxshare Precision Industry, an Apple supplier, saw its shares rise on Monday following a strong first-half earnings report and optimistic outlook. The company announced an 18% surge in net profit, totaling 7.84 billion yuan ($1.17 billion) for the six months leading up to June, compared to 6.64 billion yuan in the same period last year.

Revenue also increased by 40.2% to 174.5 billion yuan during the same period. Adjusted net profit rose by 6.5% to 5.96 billion yuan. The Shenzhen-listed company's stock increased by 2.4% to 55.00 yuan by 05:15 GMT.

Luxshare forecasts a 15-25% increase in nine-month net profit, ranging between 13.25 billion yuan and 14.40 billion yuan, alongside an 8.6% rise in adjusted profit to 22.8%. Revenue from consumer electronics grew by 19.3%, while communications and data center revenue surged by 49.7%. Automotive electronics revenue jumped an impressive 274.1%, likely due to the integration of Leoni.

Luxshare attributes its growth to AI-enabled devices, expansion of AI infrastructure, new connectivity, thermal-management, and power-management projects.