Luxshare Gets Lenient Antitrust Fine Over Wingtech Deal
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China's antitrust regulator fined Apple Inc. supplier Luxshare Precision Industry Co. Ltd. a lenient 900,000 yuan ($132,442) for failing to seek regulatory approval before completing part of its acquisition of a U.S.-sanctioned peer’s assets.
The State Administration for Market Regulation announced Wednesday that the electronics manufacturer violated anti-monopoly laws by not declaring the initial phase of its buyout of Wingtech Technology Co. Ltd. The regulator applied a reduced penalty because Luxshare self-reported the oversight and the transaction did not restrict market competition.
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- December 2024：
- Wingtech Technology Co. Ltd. was added to the U.S. Commerce Department's Entity List, restricting its access to American technologies and causing it to lose orders.
- Later that month (December 2024)：
- Wingtech agreed to sell nine subsidiaries related to its product integration business to Luxshare Precision Industry Co. Ltd.
- January 2025：
- Luxshare bought three Wingtech units for 616 million yuan without prior antitrust clearance.
- February 2025：
- Luxshare self-reported the oversight to the regulator after realizing it failed to seek approval for the first phase.
- Later that year (2025)：
- The regulator initiated an investigation into Luxshare's acquisition.
- June 2025：
- The subsequent acquisition of six more Wingtech subsidiaries and additional assets, valued at 4.39 billion yuan, received unconditional regulatory approval.
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