Longsys Debuts on HKEX, Market Cap Tops HK$107.5B: what are the key facts?

Longsys listed on the HKEX Main Board with an opening market cap of approximately HK$107.5 billion.

Longsys Debuts on HKEX, Market Cap Tops HK$107.5B: what are the key facts?

H1 2026 revenue reached RMB 24.088 billion, with net profit attributable to parent growing over 70,000 times year-on-year.

Longsys Debuts on HKEX, Market Cap Tops HK$107.5B: what are the key facts?

The IPO price was set at HK$236, representing a discount of about 44% from its A-share closing price.

Longsys Debuts on HKEX, Market Cap Tops HK$107.5B: what are the key facts?

Having transitioned from storage trading to proprietary chip design, Longsys is now the world's second-largest independent manufacturer.

Physix Frontier · News Briefing Card (enbrief · Sep 9, 2026)

Longsys Debuts on HKEX, Market Cap Tops HK$107.5B

KEY FACTS

Longsys listed on the HKEX Main Board with an opening market cap of approximately HK$107.5 billion.
H1 2026 revenue reached RMB 24.088 billion, with net profit attributable to parent growing over 70,000 times year-on-year.
The IPO price was set at HK$236, representing a discount of about 44% from its A-share closing price.
Having transitioned from storage trading to proprietary chip design, Longsys is now the world's second-largest independent manufacturer.

KEY DATA

HK$107.5BHKEX Market Cap

71528.66%H1 Net Profit Growth

HK$236IPO Price

58.2%H1 Gross Margin

PHYSIX OBSERVATION

Longsys rode the AI storage supercycle to explosive earnings, but high inventory and negative cash flow expose cyclical risks. The steep discount in the HK listing sparked controversy, reflecting market concerns over valuation normalization. This debut aims to leverage capital to extend upstream into chip design, seeking to break free from pure trading dependence by converting short-term profits into long-term technical moats against potential future price declines.

Source: enbrief original report ↗