Shenzhen Longsys Electronics seeks $801M in Hong Kong listing as AI-fueled memory boom drives 71,000% profit surge

Shenzhen Longsys Electronics, the company behind a significant chunk of the world’s memory storage products, is preparing to raise roughly HK$6.27 billion ($801 million) through a secondary listing on the Hong Kong Stock Exchange. The move would make it China’s first independent semiconductor memory vendor to achieve a dual A+H listing.

Longsys plans to offer 26.1 million H shares at a maximum price of HK$240.60 each, with final pricing expected on September 4 and trading set to begin on September 8. The company’s onshore shares, listed on the SZSE ChiNext board since August 2022, have already climbed roughly 50% this year.

A profit surge that defies easy description

The company reported a year-on-year increase in half-year net profits of over 71,000% during the first half of 2026, tied directly to the global memory price boom driven by AI infrastructure demand.

Revenue for the first four months of 2026 reached 14.7 billion yuan, representing 1.4 times growth on a year-on-year basis. Longsys is China’s largest independent semiconductor memory vendor and the world’s second-largest by storage product revenue.

Longsys counts Dell, Lenovo, Samsung, and Xiaomi among its clients. About 70% of the company’s revenue comes from outside mainland China.

Where the money goes

Approximately 78.3% of net proceeds from the Hong Kong listing are earmarked for research and development, specifically in advanced chip design and memory products.

Founded in 1999 by Cai Huabo, who retains a significant stake in the firm, Longsys cleared its listing hearing with the Hong Kong Stock Exchange in August 2026, the final regulatory gate before proceeding with the offering.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.