Longsys Shares Fall Below IPO Price on Hong Kong Debut; 2024 Net Profit Surges 715-Fold
Longsys, a Chinese memory and storage products maker, saw its shares drop below the initial public offering price on its first day of trading on the Hong Kong Stock Exchange. The company reported a 715-fold increase in net profit for 2024, reflecting a sharp earnings rebound.
Longsys, a memory and storage solutions provider, experienced a weak market debut on the Hong Kong Stock Exchange, with its shares falling below the offering price on the first trading day.
The company's net profit for 2024 surged by 715 times compared with the previous year, underscoring a dramatic improvement in its financial performance.