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The move comes after rival Foxconn halted production lines in Zhengzhou following protests over China’s stringent Covid measures over a month ago.
The Financial Times reported Luxshare has already produced “small amounts” of the iPhone 14 Pro Max since November to make up for Foxconn’s lost production.
Apple and Luxshare did not immediately respond to CNBC’s request for comment.
The rise in Luxshare’s Shenzhen-listed stock on Thursday comes after it dropped nearly 10% on Wednesday. That decline followed a Nikkei Report that Apple asked multiple suppliers to build fewer components for its products – including AirPods, the Apple Watch and MacBooks for the first quarter due to weakened demand.
Luxshare was founded in 2004 and became an Apple supplier in 2011.
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