Shenzhen Longsys Electronics Co. has priced its Hong Kong listing at HK$236 ($30.10) per share, according to sources familiar with the matter. This figure is below the maximum price of HK$240.60 and represents a significant discount of approximately 44% compared to its closing price of 359.63 yuan ($53.52) on Thursday in Shenzhen, where it has been listed since 2022. The memory chipmaker aims to sell about 26 million shares, with an option to increase the deal size by up to 15%. Trading in Hong Kong is expected to commence on September 8th.
Longsys's offering contributes to a growing trend of Chinese companies within the artificial intelligence (AI) supply chain debuting in Hong Kong. The city has seen over $45 billion in listing proceeds so far in 2026, positioning it to potentially surpass its 2010 record. This surge in listings, particularly from firms perceived as beneficiaries of government policy supporting the semiconductor ecosystem, is attracting onshore retail investors. Longsys itself generated over double its revenue to 24.1 billion yuan in the first half of 2026, with net profit soaring more than 700-fold to 10.6 billion yuan, driven by strong demand and tight wafer supply that bolstered memory prices.
The company, founded in 1999 by Cai Huabo, held a 1.2% share of the global memory products market in 2025, with about 70% of its revenue derived from overseas markets. Its customer base includes major technology companies such as Dell Technologies Inc., Lenovo Group Ltd., Samsung Electronics Co., and Xiaomi Corp. Proceeds from the Hong Kong listing will be allocated towards research and development in chip design and advanced memory technologies. Cornerstone investors, including Transsion International Ltd., CITIC Securities Asset Management, and Lens Technology HK, have committed to purchasing 18.89% of Longsys shares.
