Domestic storage leader Longsys has passed the Hong Kong Stock Exchange hearing, now ranking as the world's ninth-largest memory manufacturer.

According to the Hong Kong Stock Exchange disclosure on August 23, Shenzhen Longsys Electronics Co., Ltd. has passed the main board listing hearing, with CITIC Securities and Citi serving as joint sponsors.

Based on CIC Consulting data, measured by storage product revenue in 2025, Longsys ranks as the world's ninth-largest memory manufacturer, 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.

According to the prospectus, Longsys is an independent brand semiconductor memory manufacturer whose business model differs from traditional IDMs: the company procures memory wafers and controller chips from IDMs and controller chip suppliers, and does not engage in wafer manufacturing itself; for self-designed chips, it procures manufacturing services from wafer foundries.

Leveraging its full-chain capabilities covering controller chip and memory chip design, firmware development, and back-end manufacturing (including system-in-package, testing, and assembly), the company designs, develops, and sells a complete storage product portfolio spanning consumer-grade, enterprise-grade, and industrial-grade applications.

Lexar, the global premium brand acquired by the company in 2017, has sold products to over 60 countries and regions and has won multiple international awards, primarily targeting B2C storage markets such as photography, videography, and gaming.

In the manufacturing segment, Longsys adopts an open and flexible strategy. After procuring memory wafers and controller chips, the company utilizes internal capacity for packaging, testing, SMT placement, and finished product assembly; meanwhile, to balance efficiency and flexibility, the company selectively uses its own capacity at plants in China and Brazil, outsourcing the remaining operations to third-party OSAT service providers, thereby enhancing business replication capability and operational resilience.

The company has established a comprehensive global footprint. During the track record period, revenue from regions outside mainland China accounted for 77.1%, 71.1%, 66.8%, and 69.9% respectively.

Through local subsidiaries and professional teams established in Asia, Europe, North America, South America, and the Middle East, the company stays close to customers and responds quickly to demand, effectively serving global clients, including multiple Fortune 500 companies such as Dell, Lenovo, Mindray Medical, OPPO, Samsung, Transsion, and Xiaomi, demonstrating the breadth and diversity of its customer base across different regions, industries, and product applications.