HK Stock Market Move | Shenzhen Longsys Electronics (09976) rose over 7% in early trading, with a net profit exceeding 10 billion in the first half of the year. The company is a leading domestic memory module manufacturer.

Shenzhen Longsys Electronics (09976) rose more than 7% in early trading. As of the time of writing, it was up 7.05%, trading at HKD 224.8, with a transaction volume of HKD 141 million. In terms of news, Shenzhen Longsys Electronics' interim results showed that revenue in the first half of the year reached RMB 24.088 billion, a year-on-year increase of 136.26%; net profit attributable to the parent company was RMB 10.577 billion, a staggering year-on-year growth of 71,528.66%. The net fundraising amount from the H-share listing is approximately HKD 6.020 billion, which will mainly be directed towards the research and development of AI high-end memory, main control chips, and high-end packaging and testing in three key areas. Huatai released a research report stating that the company is a leading domestic memory module manufacturer that fully benefits from the upward cycle of storage driven by AI. Its enterprise-level and overseas business TCM/PTM