LONGSYS Raises HK$7.08 Billion from Hong Kong IPO; Trading Starts 8 September 2026

Shenzhen Longsys Electronics Co., Ltd. (“LONGSYS”) has finalised its Hong Kong initial public offering at HK$236.00 per H share, issuing 29.99 million shares after fully exercising a 15.0% Offer Size Adjustment Option. Gross proceeds total HK$7.08 billion, with estimated listing expenses of HK$274.30 million, leaving net proceeds of HK$6.80 billion.

The offer comprised 2.61 million H shares for the Hong Kong Public Offering and 27.38 million H shares for the International Offering, representing 8.70% and 91.30% of the deal respectively. Demand remained solid: the Hong Kong tranche was 40.32 times subscribed from 36,285 valid applications, while the International tranche was 3.88 times covered prior to the upsizing.

An over-allocation of 4.50 million shares was recorded in the International Offering, which may be covered through market purchases or exercise of the Over-allotment Option.

Post-offering, LONGSYS will have 459.66 million shares in issue (pre over-allotment). Trading in H shares is scheduled to commence on 8 September 2026 under stock code 09976 in board lots of 50 shares.

Investor concentration warrants attention: the top 25 placees hold 66.22% of the International Offering, while the top 25 H shareholders will control 4.32% of total issued share capital on listing.

Cornerstone investors—led by Transsion International, CITIC Securities Asset Management (HK) and Lenovo—collectively subscribed 4.87 million shares, all subject to a six-month lock-up expiring 7 March 2027. Controlling shareholders Mr Cai Huabo and Ms Cai Lijiang, holding 35.26% and 3.20% respectively, are locked up for twelve months.

LONGSYS confirms compliance with Hong Kong Listing Rules on public float: at least 300 shareholders will hold shares on listing, free float market capitalisation will exceed HK$7.00 billion, and the three largest public shareholders will control less than 50% of publicly held H shares.

Settlement of share certificates becomes effective at 8:00 a.m. on 8 September 2026; investors trading prior to this time bear settlement risk.