Shenzhen Longsys Electronics has completed its dual listing on the Hong Kong Stock Exchange, raising HKD 7.08 billion, equivalent to $903 million. The company sold 30 million H-shares at a price of HKD 236 per share, with trading scheduled to commence on September 8, 2026, under the ticker 9976.
The final offering price was set after the company exercised a 15% upsizing option, landing just below the target of HKD 240.60. This price represents a 45% discount compared to the closing price of Longsys A-shares on the Shenzhen market.
Longsys is currently the largest memory product company in China by storage revenue and the second-largest globally. Cornerstone investors in the offering included Lenovo Group and Ingenic Semiconductor.
Financial reports indicate that the company generated RMB 22.766 billion in revenue in 2025. In the first four months of 2026, revenue reached RMB 14.7 billion, a 1.4-fold year-over-year increase, while net profit for the first half of 2026 grew by over 71,000%.
The company plans to allocate approximately 78.3% of the net proceeds from the listing to research and development, focusing on chip design and advanced memory products.
