A 71,000% Profit Surge Is Taking Longsys to Hong Kong Investors
Shenzhen Longsys Electronics, a Chinese semiconductor company, is seeking up to HK$6.28 billion, or about $800 million, from a Hong Kong share sale.
The company set out the terms in a listing document on Monday. The memory chipmaker already trades in Shenzhen. Its Hong Kong offer price sits well below where the mainland stock trades.
Longsys Sells at a 45% Discount to Shenzhen
Longsys is offering about 26 million shares at a maximum price of HK$240.60 per share. That sits 45% below the 376.88 yuan close in Shenzhen on Friday, Bloomberg reported. The stock has gained nearly 33% in 2026.
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The company expects to set the final offer price on September 4 and publish the allocation results by September 7. Trading of its H shares is expected to begin on September 8.
Upsize options could lift the deal to $1.06 billion. The terms indicate a market value of up to $24.9 billion.
The timing favors the company. Longsys reported half-year net profit growth above 71,000% earlier this month, a jump built on soaring memory prices. Its revenue surged to 24.1 billion yuan.
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