Longsys begins trading in Hong Kong after raising $903M in share sale

Shenzhen Longsys Electronics has officially completed its Hong Kong dual listing, pulling in HK$7.08 billion (roughly $903M) through the sale of approximately 30 million H-shares priced at HK$236 each. The stock is set to begin trading on the Hong Kong Stock Exchange under ticker 9976 on September 8, 2026. The profit growth that turns heads Longsys reported a year-on-year net profit increase of more than 71,000% for the first half of 2026. The company’s revenue for 2025 came in at RMB 22.766 billion. And the first four months of 2026 alone generated RMB 14.7 billion in revenue, reflecting a year-over-year increase of roughly 1.4 times. Longsys ranks as the second-largest independent memory product company globally and the largest in China by storage revenue. The Hong Kong share price of HK$236 came in after the company exercised a full 15% upsizing option on the offering, though the final price landed slightly below the upper target of HK$240.60. The deal was priced at a 45% discount to the latest closing price of Longsys’ Shenzhen A-shares. Where the money is going Approximately 78.3% of the net proceeds from the listing are earmarked for research and development investments, spec...