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joined discussion · Sep 8 08:11

IPO Pricing | Jiangbolong lists today, receiving 40.32x subscription; priced at HK$236 per share, with a 2.85% allotment rate for one lot.

Futu News, September 8:$LONGSYS (09976.HK)$Announced allotment results: priced at HK$236 per share, with a total issuance of 29.9894 million shares. Each lot consists of 50 shares, and the stock officially lists today.
During the public offering phase, Jiangbolong received 40.32x subscription. The final number of shares offered publicly was 2.6078 million, accounting for approximately 8.7% of the total offering. A total of approximately 36,285 valid applications were received, with about 10,568 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 2.85%.
In addition, the international placement tranche for Longsys received 3.88x subscription. The final number of shares offered internationally was 27.3816 million shares, accounting for 91.3% of the total shares offered. Futu has compiled the relevant data in the table below:
Futu News, September 8:$LONGSYS (09976.HK)$Announced allotment results: priced at HK$236 per share, with a total issuance of 29.9894 million shares. Each lot consists of 50 shares, and the stock officially lists today. During the public offering phase, Jiangbolong received 40.32x subscription. The final number of shares offered publicly was 2.6078 million, accounting for approximately 8.7% of the total offering. A total of approximately 36,285 valid applications were received, with about 10,568 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 2.85%. Additionally, during the international placement phase, Jiangbolong received 3.88x subscription. The final number of internationally placed shares was 27.3816 million, equivalent to 91.3% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Longsys is an independent brand semiconductor memory manufacturer. The company purchases memory wafers and controller chips from IDMs and controller chip suppliers, and does not engage in wafer fabrication. Leveraging its capabilities in controller and memory chip design, firmware development, and backend manufacturing (including system-in-package, testing, and assembly), Longsys designs, develops, manufactures via backend processes, and sells a complete portfolio of storage products for consumer, enterprise, and industrial applications. The company's founding team recognized the huge potential of the global semiconductor storage market early on. Through persistent efforts and strategic development...
Futu News, September 8:$LONGSYS (09976.HK)$Announced allotment results: priced at HK$236 per share, with a total issuance of 29.9894 million shares. Each lot consists of 50 shares, and the stock officially lists today. During the public offering phase, Jiangbolong received 40.32x subscription. The final number of shares offered publicly was 2.6078 million, accounting for approximately 8.7% of the total offering. A total of approximately 36,285 valid applications were received, with about 10,568 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 2.85%. Additionally, during the international placement phase, Jiangbolong received 3.88x subscription. The final number of internationally placed shares was 27.3816 million, equivalent to 91.3% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Longsys is an independent brand semiconductor memory manufacturer. The company purchases memory wafers and controller chips from IDMs and controller chip suppliers, and does not engage in wafer fabrication. Leveraging its capabilities in controller and memory chip design, firmware development, and backend manufacturing (including system-in-package, testing, and assembly), Longsys designs, develops, manufactures via backend processes, and sells a complete portfolio of storage products for consumer, enterprise, and industrial applications. The company's founding team recognized the huge potential of the global semiconductor storage market early on. Through persistent efforts and strategic development...
Company Overview
Longsys is an independent brand semiconductor memory manufacturer. The company purchases memory wafers and controller chips from IDMs and controller chip suppliers, and does not engage in wafer fabrication. Leveraging its capabilities in controller and memory chip design, firmware development, and backend manufacturing (including system-in-package, testing, and assembly), Longsys designs, develops, manufactures via backend processes, and sells a complete portfolio of storage products for consumer, enterprise, and industrial applications.
Futu News, September 8:$LONGSYS (09976.HK)$Announced allotment results: priced at HK$236 per share, with a total issuance of 29.9894 million shares. Each lot consists of 50 shares, and the stock officially lists today. During the public offering phase, Jiangbolong received 40.32x subscription. The final number of shares offered publicly was 2.6078 million, accounting for approximately 8.7% of the total offering. A total of approximately 36,285 valid applications were received, with about 10,568 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 2.85%. Additionally, during the international placement phase, Jiangbolong received 3.88x subscription. The final number of internationally placed shares was 27.3816 million, equivalent to 91.3% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Longsys is an independent brand semiconductor memory manufacturer. The company purchases memory wafers and controller chips from IDMs and controller chip suppliers, and does not engage in wafer fabrication. Leveraging its capabilities in controller and memory chip design, firmware development, and backend manufacturing (including system-in-package, testing, and assembly), Longsys designs, develops, manufactures via backend processes, and sells a complete portfolio of storage products for consumer, enterprise, and industrial applications. The company's founding team recognized the huge potential of the global semiconductor storage market early on. Through persistent efforts and strategic development...
The founding team recognized the immense potential of the global semiconductor memory market early on. Through persistent efforts and strategic development, the company expanded from trading semiconductor memory products to developing its own backend manufacturing technologies for storage products, and further evolved to build core competencies in controller and memory chip design, firmware development, and packaging and testing capabilities. This value-chain-integrated capability in semiconductor memory has enabled the company to build a portfolio of high-quality, high-performance products, earning widespread recognition from business partners and users.
Financial Overview
Longsys's total revenue increased from RMB 10,125.1 million in 2023 to RMB 17,463.7 million in 2024, and further to RMB 22,766.2 million in 2025. The company's gross profit rose from RMB 472.0 million in 2023 to RMB 2,759.2 million in 2024, and further to RMB 4,093.2 million in 2025. R&D expenses increased from RMB 593.7 million in 2023 to RMB 910.3 million in 2024, and further to RMB 1,047.8 million in 2025.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Longsys expects the net proceeds from the global offering to be approximately HK$6.02 billion (assuming the over-allotment option is not exercised, based on an offer price of HK$236). According to the prospectus, Longsys intends to use the funds raised from the global offering for the following purposes:
Approximately 78.3% will be used to enhance the Company's independent R&D and innovation capabilities in key areas (including chip design and advanced storage product development), for projects other than those funded by the proceeds from the 2025 A-share issuance; approximately 11.7% will be allocated for strategic investments and/or acquisitions to further consolidate the Company's overall competitive position; and approximately 10% is expected to be used for working capital and other general corporate purposes.
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Futu News, September 8:$LONGSYS (09976.HK)$Announced allotment results: priced at HK$236 per share, with a total issuance of 29.9894 million shares. Each lot consists of 50 shares, and the stock officially lists today. During the public offering phase, Jiangbolong received 40.32x subscription. The final number of shares offered publicly was 2.6078 million, accounting for approximately 8.7% of the total offering. A total of approximately 36,285 valid applications were received, with about 10,568 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 2.85%. Additionally, during the international placement phase, Jiangbolong received 3.88x subscription. The final number of internationally placed shares was 27.3816 million, equivalent to 91.3% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Longsys is an independent brand semiconductor memory manufacturer. The company purchases memory wafers and controller chips from IDMs and controller chip suppliers, and does not engage in wafer fabrication. Leveraging its capabilities in controller and memory chip design, firmware development, and backend manufacturing (including system-in-package, testing, and assembly), Longsys designs, develops, manufactures via backend processes, and sells a complete portfolio of storage products for consumer, enterprise, and industrial applications. The company's founding team recognized the huge potential of the global semiconductor storage market early on. Through persistent efforts and strategic development...
Edited by Vincent
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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