LONGSYS PRICES HONG KONG IPO AT HK$236 PER SHARE

Longsys set the IPO price at the lower end of expectations, according to people familiar with the matter. The chipmaker joins a surge of Chinese semiconductor and AI-related firms seeking Hong Kong listings. The company manufactures memory and storage products, positioning itself within the broader artificial intelligence infrastructure buildout. Hong Kong has emerged as a key listing destination for mainland tech companies, particularly those involved in AI hardware and components. The pricing decision suggests cautious market conditions despite strong sector interest. Several Chinese chipmakers and AI-adjacent businesses have pursued Hong Kong debuts this year, capitalizing on the city's access to international capital and mainland investor bases. Longsys's listing underscores the consolidation of AI supply chain valuations after earlier volatility in tech IPO markets. The company's entry adds to Hong Kong's growing roster of semiconductor-focused public companies.