Longsys Raises RMB 3.7 Billion in Share Placement at 45% Premium to Market Price

Longsys Electronics has completed its private placement of shares to specific investors, issuing 6.6071 million shares at an issue price of RMB 560.00 per share. Total proceeds reached RMB 3.7 billion, with net proceeds of RMB 3.668 billion after deducting issuance costs. The final allocation was made to 21 investors, including E Fund, Jin Changjiang, Zhao Qixiang and He Wei, all of whom are subject to a six-month lock-up period.

The pricing benchmark date was the first day of the issuance period, June 29, 2026. The issue price was set at no less than 80% of the company's average share price over the 20 trading days preceding the benchmark date, equivalent to a floor of RMB 452.90 per share. As of Friday's close, Longsys shares traded at RMB 386.60, putting the placement price at a 45% premium to the closing price.