Longsys (09976) has commenced its public offering from August 31 to September 3, planning to issue 26.078 million H-shares, with 10% allocated for public subscription in Hong Kong. The maximum offer price is set at HK$240.6 per share, aiming to raise up to HK$6.27 billion. Each board lot consists of 50 shares, with a minimum application amount of HK$12,151.3 per lot.

According to market data, as of the September 3 deadline for orders, the public offering tranche has recorded HK$17.05 billion in margin financing subscriptions. Based on the public fundraising amount of HK$630 million, this represents an oversubscription of 26.2 times. The company is expected to list on September 8, with CITIC Securities and Citigroup serving as joint sponsors.

Per the prospectus, Longsys is a leading global independent semiconductor memory manufacturer. Leveraging its vertically integrated capabilities spanning controller chip and memory chip design, firmware development, system-level packaging, and testing, the company designs, develops, manufactures, and sells a comprehensive portfolio of storage products targeting edge AI as well as traditional consumer, enterprise, and industrial-grade applications.

According to CIC Consulting, based on 2025 storage product revenue, Longsys ranks as the second-largest independent semiconductor memory manufacturer among over 100 global market participants and the largest independent memory manufacturer among more than 30 players in China. In 2025, the company held a 1.2% share of the global storage product market—a significant figure for an independent memory enterprise given the industry's massive scale.

The company's brands—FORESEE (primarily serving the B2B market), Zilia (focused on the Latin American B2B market), and Lexar (targeting the high-end B2C market)—collectively drive balanced growth across both enterprise and consumer segments.

Longsys has secured 14 cornerstone investors, including Transsion International Co., Ltd., Yufeng, CITIC Asset Management Hong Kong, AHGO SPC, Lenovo Group (09992), Lens Technology Hong Kong, Hong Kong Ingenic, Juyuan International, Colorful Technology, Hong Kong Hongxinyu, Huadeng Technology, Wind Sabre, Changqing Technology, and Huaxida Hong Kong, with total investment amounting to US$150 million (approximately HK$1.19 billion).