Shenzhen Longsys Electronics, China’s largest independent semiconductor memory vendor, is preparing a secondary listing on the Hong Kong Stock Exchange to raise approximately HK$6.27 billion ($801 million), making it the first independent semiconductor memory vendor to achieve a dual A+H listing. The company reported a year-on-year increase in half-year net profits of over 71,000% during the first half of 2026, driven by the global memory price boom tied to 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 counts Dell, Lenovo, Samsung and Xiaomi among its clients, with approximately 70% of its revenue coming from outside mainland China. Some 78.3% of net proceeds from the Hong Kong listing are earmarked for research and development in advanced chip design and memory products.
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