Shenzhen Longsys Electronics Co.,Ltd. (09976) has initiated its Hong Kong public offering, with a subscription period running from August 31 to September 3, 2026. The company plans to offer 26.0778 million shares globally, with 10% allocated to the Hong Kong public tranche and the remaining 90% to the international placement. The maximum offer price is set at HK$240.60 per share, with a board lot of 50 shares. Trading on the Stock Exchange of Hong Kong is slated to commence on September 8, 2026.
The company operates as an independent semiconductor memory manufacturer, sourcing memory wafers and controller chips from IDM and controller suppliers without engaging in wafer fabrication itself. Leveraging its in-house capabilities in controller and memory chip design, firmware development, and back-end manufacturing—including system-in-package, testing, and assembly—the firm designs, develops, produces, and sells a comprehensive portfolio of memory products catering to consumer, enterprise, and industrial-grade applications.
In 2025, the company captured a 1.2% share of the global memory product market, a significant figure for an independent memory player given the industry's massive scale. According to CIC Consulting, based on 2025 memory product revenue, it ranks as the world's ninth-largest memory manufacturer, the second-largest independent semiconductor memory vendor among over 100 global participants, and the largest independent memory maker in China among more than 30 domestic competitors.
The company currently owns and operates three primary brands—FORESEE, Zilia, and Lexar—each targeting distinct customer segments and enjoying strong recognition within their respective markets. These achievements, combined with a robust global footprint and a powerful brand and product portfolio, underscore its critical role in the broader semiconductor storage industry.
Assuming the offer price is set at HK$240.60 per share (the maximum level) and that the offering adjustment mechanism and over-allotment option remain unexercised, the company estimates net proceeds from the global offering will total approximately HK$6.02 billion. The intended use of these net proceeds is as follows, subject to adjustments based on evolving business needs and market conditions: (a) approximately 78.3% will be directed toward enhancing independent R&D and innovation capabilities in key areas, including chip design and advanced memory product development; (b) approximately 11.7% is earmarked for strategic investments and/or acquisitions to further solidify its overall competitive position; and (c) approximately 10% will be allocated for working capital and other general corporate purposes.