Shenzhen Longsys Electronics is seeking up to HK$6.28 billion in a Hong Kong share sale, with the deal potentially reaching about HK$7.14 billion if upsize and over-allotment options are exercised. The memory-chip maker is offering about 26 million H shares at a maximum HK$240.60 each, roughly 45% below its Shenzhen closing price of 376.88 yuan on Friday. Longsys expects to set the final price on September 4, publish allocation results by September 7 and begin H-share trading on September 8. About 78.3% of net proceeds will support research and development. The offering comes after first-half net profit rose more than 71,000% and revenue reached 24.1 billion yuan as higher memory prices and competition for supply from data-center operators boosted the sector. Cornerstone investors, including Lenovo, Transsion International, CITIC Securities Asset Management and Lens Technology, have agreed to take 18.89% of the shares. The deal follows major memory-sector fundraisings including CXMT’s 66.6 billion yuan listing and SK Hynix’s roughly $26 billion Nasdaq-receipt issuance, while a July selloff in SK Hynix highlighted investor concerns over artificial-intelligence capital spending.