Longsys Electronics raised approximately $903 million through its Hong Kong IPO, which concluded on September 8, 2026. Founder Cai Huabo, who retains a 39% stake in the company, plans to allocate 78% of these proceeds, or about $704 million, toward research and development for AI memory chips.
The company reported revenue of ¥24.1 billion for the first half of 2026, marking a 136.3% year-over-year increase. Net profit for the same period reached ¥10.7 billion, representing a growth of more than 260 times compared to the previous year. Longsys is currently listed under the ticker 301308.SZ.
Longsys is transitioning from a memory module assembler to a semiconductor brand. The firm claims to be the second-largest independent memory manufacturer globally by revenue. Its product portfolio includes the WM8500 Storage Processing Unit and DRAM-less PCIe Gen5 SSDs, which are designed for edge AI workloads.
The company has shipped over 280 million units of its proprietary controller chips. Its operations cover firmware development, system-in-package testing, and manufacturing at facilities in Suzhou and Brazil. The firm also owns the Lexar brand, acquired in 2017, alongside its Foresee and Zilia product lines.
