Apple supplier Blue Technology listed on the Hong Kong Stock Exchange on Wednesday (July 9) to raise funds for expansion into Southeast Asia. Additionally, two other major Apple suppliers, Luxshare Precision and GoerTek, are also planning to go public in Hong Kong. Experts point out that amidst Trump’s tariff war targeting the Communist Party of China, Chinese fruit chain companies are forced to rely on Apple to survive and are diversifying their production bases in Southeast Asia.
Blue Technology’s founder and chairman, Zhou Qunfei, stated during the listing ceremony on Wednesday that the Hong Kong listing marks a milestone for the company’s international leap in development.
The purpose of Blue Technology’s listing is to diversify its production base and expand into Southeast Asia. The company announced that a portion of the funds raised will be used to increase investment in its factory in Vietnam. Furthermore, Blue Technology plans to allocate procurement funds to a new factory in Thailand, scheduled to officially start production in 2026, which will cater to the production of display “cockpits” used for various information.
Founded in 2003, Blue Technology specializes in the development and manufacturing of touch screens and camera peripherals for electronic products such as smartphones and tablets. Since 2005, Blue has established a cooperative relationship with Apple in product development.
According to Nikkei’s Chinese website, most of Blue Technology’s production bases are located in mainland China. As Apple expands its production bases to India and Southeast Asia, Blue Technology needs to adjust accordingly to meet the demands of its customers. In the escalating U.S.-China trade tensions, the risks of exporting Chinese products to the U.S. have increased. On the other hand, Vietnam reached an agreement with the U.S. on July 2 to reduce tariffs to 20%, less than half of the original plan.
Chinese media refer to Blue Technology, electronic contract manufacturer Luxshare Precision, and GoerTek, engaged in headphone business, as the “three major Apple suppliers” in China.
Blue Technology is not alone in diversifying its production base; Luxshare Precision and GoerTek are also seeking to list on the Hong Kong Stock Exchange.
Luxshare Precision announced on July 3 that the company is planning an overseas H-share issuance and seeks to list on the Main Board of the Hong Kong Stock Exchange.
Luxshare Precision stated that through the Hong Kong stock issuance, the company can further diversify its capital market financing channels, providing more financial security for overseas business expansion, new technology research and development, and global production capacity layout. The flexibility and diversity of Hong Kong’s stock market ownership incentive tools, as well as the influx of high-precision talent from overseas, inject innovative energy and expertise into the company’s global development.
According to public information, Luxshare Precision’s manufacturing bases are spread across various countries, including Vietnam, Thailand, India, Mexico, and Germany.
On January 20, GoerTek announced its intention to spin off its subsidiary Goer Micro for a listing on the main board of Hong Kong Exchanges and Clearing Limited. Although GoerTek has not disclosed the purpose of the listing, these companies are closely following existing major customers while exploring new sales channels.
Dr. Wang Xiouwen, Assistant Researcher at the Institute of Communist Party-Military Relations and Operational Concepts at the Taiwan Institute for National Defense and Security Research, stated to Epoch Times that large companies like Apple are now clear that Trump’s tariff war “targets the Communist Party,” and “Apple, of course, needs to swiftly remove its supply chain from China securely, otherwise iPhones produced in China will greatly lose market share in the U.S., which will severely impact future revenue, a cost that cannot be compared with the relocation of the supply chain.”
The Securities Times recently cited industry insiders’ views, stating that Luxshare Precision, GoerTek, and Blue Technology, as tightly bound “fruit chain” leading companies with Apple, face prominent client reliance issues that are not easily reversed in the short term. The escalating uncertainty of global trade tensions (U.S.-China tariffs war) forces fruit chain enterprises to accelerate their presence in North America and Southeast Asia.