IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shenzhen (SZSE) |
|---|---|
| Other Market Stock Code | 301308 |
| H-Share Offer Price | HK$ 236.00 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Longsys |
|---|---|
| Stock Code | 09976 |
| Company Full Name | Shenzhen Longsys Electronics Co., Ltd. |
| Industry | Information Technology |
| Principal Activities | An independent-brand semiconductor memory manufacturer that designs, develops, back-end manufactures and sells a complete storage product portfolio, covering controller chip and memory chip design, firmware development, and back-end manufacturing (including system-level packaging, testing and assembly), for consumer-grade, enterprise-grade and industrial-grade applications. |
| Listing Date | 2026-09-08 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國深圳市前海深港合作區南山街道聽海大道5059號鴻榮源前海金融中心二期B座2001、2201、2301 |
| Business Address (Hong Kong) | 中國香港新界沙田安睦街28號永得利中心7樓B室 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | longsys.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | 香港中央證券登記有限公司，香港灣仔皇后大道東183號合和中心17樓1712-1716號舖 |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 236.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 11,800 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-08-31 to 2026-09-03 |
| Global Offering Shares | 26,077,800 shares |
| HK Public Offer Shares (Initial) | 2,607,800 shares (10.0%) |
| Public Offer Lots (Initial) | 52,156lots (Pool A26,078lots，Pool B26,078lots) |
| International Placing Shares (Initial) | 23,470,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 455,745,949 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | CLSA LIMITED CE AAB893 |
| Cornerstone Share | 18.9% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 6,154,360,800 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 11,800 |
| 2 lots | 100 | HK$ 23,600 |
| 3 lots | 150 | HK$ 35,400 |
| 4 lots | 200 | HK$ 47,200 |
| 5 lots | 250 | HK$ 59,000 |
| 6 lots | 300 | HK$ 70,800 |
| 7 lots | 350 | HK$ 82,600 |
| 8 lots | 400 | HK$ 94,400 |
| 9 lots | 450 | HK$ 106,200 |
| 10 lots | 500 | HK$ 118,000 |
| 12 lots | 600 | HK$ 141,600 |
| 14 lots | 700 | HK$ 165,200 |
| 16 lots | 800 | HK$ 188,800 |
| 18 lots | 900 | HK$ 212,400 |
| 20 lots | 1,000 | HK$ 236,000 |
| 40 lots | 2,000 | HK$ 472,000 |
| 60 lots | 3,000 | HK$ 708,000 |
| 80 lots | 4,000 | HK$ 944,000 |
| 100 lots | 5,000 | HK$ 1,180,000 |
| 120 lots | 6,000 | HK$ 1,416,000 |
| 140 lots | 7,000 | HK$ 1,652,000 |
| 160 lots | 8,000 | HK$ 1,888,000 |
| 180 lots | 9,000 | HK$ 2,124,000 |
| 200 lots | 10,000 | HK$ 2,360,000 |
| 400 lots | 20,000 | HK$ 4,720,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 600 lots | 30,000 | HK$ 7,080,000 |
| 800 lots | 40,000 | HK$ 9,440,000 |
| 1,000 lots | 50,000 | HK$ 11,800,000 |
| 1,200 lots | 60,000 | HK$ 14,160,000 |
| 1,400 lots | 70,000 | HK$ 16,520,000 |
| 1,600 lots | 80,000 | HK$ 18,880,000 |
| 1,800 lots | 90,000 | HK$ 21,240,000 |
| 2,000 lots | 100,000 | HK$ 23,600,000 |
| 4,000 lots | 200,000 | HK$ 47,200,000 |
| 6,000 lots | 300,000 | HK$ 70,800,000 |
| 8,000 lots | 400,000 | HK$ 94,400,000 |
| 10,000 lots | 500,000 | HK$ 118,000,000 |
| 15,000 lots | 750,000 | HK$ 177,000,000 |
| 20,000 lots | 1,000,000 | HK$ 236,000,000 |
| 26,078 lots | 1,303,900 | HK$ 307,720,400 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 4.31B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 107,556,043,964 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 6,154,360,800 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | Net profit RMB 1,497.8 million |
| Period-End Cash Balance | RMB 1,468.81 million |
| Listing Expenses | ~HK$ 254,100,000 |
| Listing Expenses / Funds Raised | ~4.0% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 78.3% will be used to enhance independent R&D and innovation capabilities in key areas (including chip design and advanced storage product development), of which approximately 43.2% will be used to expand the R&D team, and approximately 18.9% will be used to purchase R&D equipment, software licenses, and bear tape-out costs. |
Underwriting Syndicate
Joint Sponsors (2)
Sponsor cum Overall Coordinator (2)
Overall Coordinators (3)
Joint Global Coordinators (4)
Joint Bookrunners (7)
Joint Lead Managers (7)
Capital Market Intermediaries (8)
CLSA LIMITED CE AAB893
Citigroup Global Markets Asia Limited CE AAA137
Citigroup Global Markets Asia Limited CE AAA137
中信建投（国际）融资有限公司 CE BAU112
ABCI CAPITAL LIMITED CE AWL249
ABCI Securities Company Limited CE ACX411
Futu Securities International (HONG KONG) Limited CE AZT137
TIGER BROKERS (HK) GLOBAL LIMITED CE BMU940
Stabilizing Manager (1)
CLSA LIMITED CE AAB893
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
瑞生国际律师事务所有限法律责任合伙 Zhong Lun Law Firm Hogan Lovells Cadwalader International LLP |
| Legal Advisor to Sponsors/Underwriters |
凯易律师事务所 竞天公诚律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 灼识行业咨询有限公司 |
| Receiving Banks | 香港上海汇丰银行有限公司 CE AAA523 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 传音国际有限公司 | 25,000,000 USD | 814,950 | 3.13% | 0.18% | 6 months | 2027-03-08 |
| 2 | 裕丰 | 10,000,000 USD | 325,950 | 1.25% | 0.07% | 6 months | 2027-03-08 |
| 3 | 裕丰有限合伙基金 | 10,000,000 USD | 325,950 | 1.25% | 0.07% | 6 months | 2027-03-08 |
| 4 | 中信资管香港 | 150,000,000 HKD | 623,400 | 2.39% | 0.14% | 6 months | 2027-03-08 |
| 5 | AHGO SPC | 12,750,000 USD | 415,600 | 1.59% | 0.09% | 6 months | 2027-03-08 |
| 6 | 联想 | 10,000,000 USD | 325,950 | 1.25% | 0.07% | 6 months | 2027-03-08 |
| 7 | 蓝思科技香港 | 10,000,000 USD | 325,950 | 1.25% | 0.07% | 6 months | 2027-03-08 |
| 8 | 香港君正 | 10,000,000 USD | 325,950 | 1.25% | 0.07% | 6 months | 2027-03-08 |
| 9 | 巨源国际 | 10,000,000 USD | 325,950 | 1.25% | 0.07% | 6 months | 2027-03-08 |
| 10 | 七彩虹科技 | 75,000,000 HKD | 311,700 | 1.20% | 0.07% | 6 months | 2027-03-08 |
| 11 | 香港宏芯宇 | 56,000,000 HKD | 232,750 | 0.89% | 0.05% | 6 months | 2027-03-08 |
| 12 | Huadeng Technology | 5,000,000 USD | 162,950 | 0.62% | 0.04% | 6 months | 2027-03-08 |
| 13 | Wind Sabre | 5,000,000 USD | 162,950 | 0.62% | 0.04% | 6 months | 2027-03-08 |
| 14 | 常青科技 | 5,000,000 USD | 162,950 | 0.62% | 0.04% | 6 months | 2027-03-08 |
| 15 | 华曦达香港 | 20,000,000 HKD | 83,100 | 0.32% | 0.02% | 6 months | 2027-03-08 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 蔡華波 | — |
| Company Secretary | 許剛翎、蔡鳳儀 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | The controlling shareholders, Mr. Cai Huabo and Ms. Cai, together hold approximately 41.14% of the voting rights (approximately 38.79% immediately after completion of the Global Offering). |
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