Apple Supplier Lingyi iTech Seeks $1.1B Hong Kong IPO for AI Hardware, Robotics Push
Apple supplier Lingyi iTech targets $1.1B IPO to fund robotics, AI servers, and smart glasses expansion.
Lingyi iTech, a longtime Apple supplier based in Jiangmen, China, is launching a Hong Kong IPO of up to HK$8.3 billion ($1.1B) to fund its shift from smartphone components into higher-growth AI hardware, robotics, smart glasses, foldable devices, and AI servers. The company is offering 811.8 million shares at a maximum price of HK$10.18 each, with cornerstone investors including GF Fund, Sunny Optical Capital, and smartphone maker Honor. Already listed in Shenzhen, Lingyi aims to use the fresh capital to become one of the world's top three suppliers of embodied-intelligence hardware, signaling a strategic pivot away from dependence on the iPhone supply chain.
Lingyi's robotics push shows rapid momentum. In September 2025, the company acquired an 80% stake in a joint venture with robot maker AgiBot, and recently opened a robotics factory in Beijing. It plans to ramp annual production from 10,000 units this year to 500,000 by 2030. By end of November, Lingyi had assembled or supplied components for 5,000 humanoid robots and secured leading North American robotics customers plus partnerships with over 20 Chinese robotics firms. For APAC tech buyers, this expansion means more competitive options for AI-related hardware components and manufacturing capacity, but also increased competition for advanced parts and skilled labor in robotics assembly and AI hardware production.
- Lingyi iTech seeks up to $1.1B in Hong Kong IPO with 811.8M shares at max HK$10.18 each to fund AI hardware, robotics, smart glasses, and AI servers.
- Company acquired 80% of AgiBot JV, opened Beijing robotics factory, and plans to scale production from 10,000 units to 500,000 humanoid robots annually by 2030.
- Already assembled components for 5,000 humanoid robots and secured North American robotics customers plus 20+ Chinese robotics partners.
Why It Matters
Apple supplier diversifying into AI hardware signals supply chain shift from smartphones to robotics and AI infrastructure.