New Stock News | LONGSYS Hong Kong Stock IPO Prospectus Invalid

Shenzhen LONGSYS Electronics Co., Ltd. (LONGSYS, whose Hong Kong IPO application submitted on March 21 has expired after 6 months on September 21, with Citigroup and CITIC Securities as its joint sponsors at the time of application). According to the prospectus, LONGSYS is a global leading independent brand semiconductor memory manufacturer, providing complete storage value chain solutions. The company designs, produces, and sells NAND Flash and DRAM storage products for consumer, enterprise, and industrial applications. According to data from ZhiShi Consulting, based on revenue from storage products in 2023, LONGSYS is the second largest independent memory manufacturer in the world and the largest independent memory manufacturer in China. Among them, based on B2B storage product revenue in 2023, the company's FORESEE brand ranks fifth among global independent brands; based on revenue in 2023, the company's Lexar brand ranks second among global independent storage product consumer brands; based on revenue in 2023, in the storage product market in Latin America and Brazil, LONGSYS's Zilia brand ranks first among independent memory manufacturers