Longsys completes 800 million yuan A-share buyback after Hong Kong listing
Longsys Electronics (301308.SZ) announced on September 21 that it completed an 800 million yuan A-share buyback between September 8 and 18, repurchasing 2.29 million shares at prices between 328.04 and 365.38 yuan per share. The buyback, proposed by chairman Cai Huabo in late July, was intended for equity incentives or employee stock ownership plans. The company's A-share price had fallen from a high of 749.88 yuan on June 30 to 347.79 yuan by September 21. Longsys listed on the Hong Kong Stock Exchange on September 8 at 236 Hong Kong dollars per share.
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- Summary covers the current reports
Cross-source coverage
Common ground
- Longsys is a strategically important company in China's semiconductor sector, operating under US export controls.
- The 25.7 billion yuan inventory is a major risk, potentially leading to large write-downs if memory prices fall.
- The buyback had minimal impact on the stock price, which stayed near 350 yuan after the purchase.
- The company's negative operating cash flow and high debt raise concerns about financial discipline.
Points of contention
- Eastern Agent sees the buyback as a strategic signal of confidence and national resilience, while Neutral and Regional Agents view it as a panic-driven damage control move.
- Neutral Agent argues the buyback was a tactical error with poor execution, but Eastern Agent claims it prevented a worse stock collapse.
- Regional Agent emphasizes the human cost for small investors and engineers, while Eastern Agent dismisses this as not unique to China.
- Neutral Agent's theory about pre-empting an H-share lockup expiration is rejected by Eastern Agent as too early and by Regional Agent as financially reckless.
Blind spots
- All agents initially overlooked that the inventory buildup was forced by US export controls, not just poor planning.
- The debate ignored the role of state-backed loans in funding the buyback, which Eastern Agent later admitted undermines claims of independent strength.
- No one quantified the potential inventory write-down impact relative to the buyback size until late in the debate.
WorldAttention’s read
Longsys is a strategically important Chinese memory chip company caught between US export controls and Beijing's expectations. Its 800 million yuan buyback, funded by state-backed loans, failed to lift the stock price and was likely a rushed attempt to stabilize sentiment after a 50% drop. The real risk is the 25.7 billion yuan inventory, a result of forced stockpiling at peak prices due to supply chain disruptions. While Eastern Agent frames the buyback as a long-term resilience signal, the financial data—negative cash flow, high debt, and minimal price impact—suggests a company in survival mode, not strategic strength. The debate shows that the buyback is a distraction from the inventory time bomb, and the human cost falls on retail investors and employees caught in a geopolitical trap.
Reporting timeline
Longsys completes 800 million yuan buyback; Hong Kong shares fall 19% from IPO price
Longsys (301308.SZ) announced on September 21 that it completed an 800 million yuan A-share buyback between September 8 and 18, repurchasing 2.29 million shares at prices between 328.04 and 365.38 yuan per share. The buyback, initiated by chairman Cai Huabo in late July, was intended for equity incentives or employee stock ownership plans. The company's A-share price had fallen from a high of 749.88 yuan on June 30 to 347.79 yuan by September 21. Longsys, which listed on the Hong Kong Stock Exchange on September 8 at 236 Hong Kong dollars per share, saw its Hong Kong shares drop 18.81% to 191.60 Hong Kong dollars. Despite strong financial performance driven by AI-related demand—with first-half 2026 revenue up 136.26% to 240.88 billion yuan and net profit surging over 715 times to 105.77 billion yuan—the company faces risks including high inventory of 257.77 billion yuan (60.12% of total assets), negative operating cash flow of 31.51 billion yuan, and long-term borrowing of 104.93 billion yuan, up 311.67% year-on-year.
Read sourceMemory Module Leader Longsys Completes $800M Buyback in 11 Days, Reports Strong H1 2026
Longsys (301308), a leading memory module company, announced on September 21 that it completed a share buyback program in just 11 trading days, from September 8 to September 18. The company repurchased 2.29 million A-shares for approximately 8 billion yuan ($1.1 billion), at prices between 328.04 and 365.38 yuan per share. The buyback, funded by self-owned or self-raised funds including stock repurchase special loan funds, was for employee stock ownership or equity incentives. Separately, Longsys listed on the Hong Kong Stock Exchange on September 8, raising net proceeds of about 68.03 billion Hong Kong dollars. The company reported strong financial results for the first half of 2026, with revenue of 240.88 billion yuan, up 136.26% year-on-year, and net profit of 105.77 billion yuan, a surge of 71,528.66%. Huatai Securities forecasts that while memory price increases may moderate in the second half of 2026, AI demand will keep the market tight, supporting the company's business trends.
Read sourceLongsys completes $800M share buyback in 11 days, reports strong H1 2026 earnings
Longsys (Jiang Bo Long), a leading memory module maker, announced on September 21 that it completed a share buyback program in just 11 trading days, from September 8 to September 18. The company repurchased 2.29 million A-shares (0.53% of total A-share capital) for approximately 8 billion yuan ($1.1 billion), with prices ranging from 328.04 to 365.38 yuan per share. The buyback, funded by self-owned or self-raised capital including stock repurchase special loan funds, was intended for equity incentives or employee stock ownership plans. Longsys also listed on the Hong Kong Stock Exchange on September 8, raising net proceeds of about 68.03 billion Hong Kong dollars, with 78.3% allocated to R&D in chip design and high-end storage products. For the first half of 2026, the company reported revenue of 240.88 billion yuan, up 136.26% year-on-year, and net profit of 105.77 billion yuan, a surge of 71,528.66%. Huatai Securities forecasts that while memory price increases may moderate in the second half of 2026, AI demand will keep the market tight, supporting Longsys's business trends. As of September 21, Longsys had a total market capitalization of 154.4 billion yuan.
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Chinese Memory Chip Leader Longsys Completes 800 Million Yuan Share Buyback Plan
Longsys, a leading Chinese memory chip company listed on the A-share market, announced the completion of its share buyback plan. The company repurchased 2.2906 million A-shares, representing 0.53% of its total A-share capital, between September 8 and September 18, 2026. The total transaction amount was 800 million yuan (including transaction fees), reaching the upper limit of its previously announced buyback plan of between 400 million and 800 million yuan. The buyback price did not exceed the set limit of 735 yuan per share. The repurchased shares are intended for equity incentives or employee stock ownership plans. As of the close on September 21, Longsys's stock price stood at 347.79 yuan, giving it a market capitalization of 154.4 billion yuan. The stock has fallen over 50% in the past 60 trading days. The article notes that the content is for reference only and does not constitute investment advice.
Read sourceChina's memory chip leader Longsys completes 800 million yuan share buyback plan
Longsys, a leading A-share memory chip company, announced the completion of its share buyback plan. The company had previously planned to repurchase shares worth between 400 million yuan and 800 million yuan at a price not exceeding 735 yuan per share, for use in equity incentives or employee stock ownership plans. According to the announcement, from September 8 to September 18, 2026, the company actually repurchased 2.2906 million A-shares, accounting for 0.53% of total A-share capital, with a total transaction amount of 800 million yuan (including fees). As of the close on September 21, Longsys shares were trading at 347.79 yuan, giving it a market capitalization of 154.4 billion yuan. The stock has fallen more than 50% over the past 60 trading days. The article notes that the content is for reference only and does not constitute investment advice.
Read sourceLongsys Completes A-Share Buyback, Repurchasing 2.29 Million Shares
Longsys (09976) announced the completion of its A-share buyback program, which was executed between September 8 and September 18, 2026. The company repurchased a total of 2,290,604 A-shares, representing 0.53% of its total A-share capital, through a centralized bidding process on its dedicated securities account. The highest purchase price was 365.38 yuan per share, and the lowest was 328.04 yuan per share, with a total transaction amount of approximately 799.97 million yuan (including transaction fees). The company stated that the actual funds used met the lower limit of the buyback plan and did not exceed the upper limit, and that the buyback was conducted in compliance with its approved plan and relevant regulations. No differences were reported between the actual buyback and the board-approved plan.
Read sourceLongsys Completes Share Buyback of 2.29 Million Shares for 800 Million Yuan
On September 21, Jin10 reported that Longsys (Jiang Bo Long) announced the completion of its share buyback plan. The company had previously authorized a buyback of shares worth between 400 million yuan and 800 million yuan, at a price not exceeding 735 yuan per share, for use in equity incentives or employee stock ownership plans. Between September 8 and September 18, 2026, Longsys repurchased 2.2906 million A-shares, representing 0.53% of its total A-share capital, at a total cost of approximately 800 million yuan (including transaction fees). The buyback plan has now been fully implemented.
Read sourceLongsys Completes Share Buyback Plan with Total Transaction Amount of About 800 Million Yuan
Longsys (301308.SZ) announced on September 21 that its share buyback plan has been fully implemented. The company had previously planned to repurchase shares worth no less than 400 million yuan and no more than 800 million yuan, at a price not exceeding 735 yuan per share, for use in equity incentives or employee stock ownership plans. Between September 8 and September 18, 2026, the company actually repurchased 2.2906 million A-shares, representing 0.53% of its total A-share capital, with a total transaction amount of 800 million yuan (including transaction fees). The buyback plan has now been completed.
Read sourceLongsys Completes 800 Million Yuan Share Buyback, Repurchasing 2.29 Million Shares
On September 21, 2024, Longsys (stock code 301308) announced the completion of its share buyback plan. Between September 8 and September 18, 2026, the company repurchased 2.2906 million A-shares through a dedicated securities account via centralized竞价 trading, representing 0.53% of its total A-share capital. The buyback price ranged from a high of 365.38 yuan per share to a low of 328.04 yuan per share, with a total transaction amount of 800 million yuan (including transaction fees). The buyback plan was fully executed as of September 18. The announcement was sourced from Securities Times and published on East Money's A-share company news section.
Read sourceLongsys Completes 800 Million Yuan Buyback; A-Share Price Halves From July Peak
On September 21, Longsys (301308.SZ) announced the completion of an 800 million yuan share buyback program, repurchasing 2.29 million A-shares between September 8 and 18 at prices ranging from 328.04 to 365.38 yuan per share. The buyback, proposed by controlling shareholder Cai Huabo in July, was intended for equity incentives. The company's A-share price has fallen nearly 50% from its July 6 high of 749.88 yuan to 347.79 yuan by September 21. Despite strong first-half 2026 results—revenue of 24.09 billion yuan (up 136.26% year-on-year) and net profit of 10.58 billion yuan (up over 715 times)—the article notes risks including inventory of 25.78 billion yuan (60.12% of total assets) and negative operating cash flow of 3.15 billion yuan. Longsys is the first independent semiconductor company to achieve an A+H dual listing.
Read sourceA-Share Memory Leader Longsys Completes 800 Million Yuan Share Buyback Plan
Longsys, a leading A-share memory company, announced the completion of its share buyback plan. The company repurchased 2.2906 million A-shares, representing 0.53% of its total A-share capital, between September 8 and September 18, 2026. The total transaction amount was 800 million yuan (including fees), with the buyback price not exceeding 735 yuan per share. The buyback was intended for equity incentives. As of the close on September 21, Longsys' stock price stood at 347.79 yuan, giving it a market capitalization of 154.4 billion yuan. The stock has fallen over 50% in the past 60 trading days. The report is sourced from 21st Century Business Herald.
Read sourceLongsys Completes Share Buyback Worth About 800 Million Yuan, Repurchasing 2.29 Million Shares
Longsys (Jiang Bo Long) announced the completion of its share buyback program. Between September 8 and September 18, 2026, the company repurchased 2.2906 million A-shares through a dedicated securities account via centralized bidding, representing 0.53% of its total A-share capital. The buyback price ranged from a high of 365.38 yuan per share to a low of 328.04 yuan per share, with a total transaction value of approximately 800 million yuan (including transaction fees). The company stated that the buyback plan has been fully implemented as of September 18, 2026. The report was sourced from Shanghai Securities News and China Securities Network.
Read sourceLongsys (301308.SZ) Completes Share Buyback, Repurchasing 2.29 Million A-Shares
Longsys (301308.SZ) announced on September 21 that its share buyback plan has been fully implemented. The company repurchased 2.29 million A-shares, representing 0.53% of its total A-share capital, through a centralized竞价 trading on its dedicated buyback securities account. The buyback period ran from September 8 to September 18, 2026. The highest purchase price was 365.38 yuan per share, and the lowest was 328.04 yuan per share, with a total transaction amount of approximately 799.97 million yuan (including transaction fees). The company stated that the buyback complied with its established plan and relevant legal requirements.
Read sourceLongsys completes 8 billion yuan stock buyback in 11 days after Hong Kong listing
Longsys (Jiang Bo Long) announced on September 21 that it completed a share buyback program between September 8 and September 18, repurchasing 2.29 million A-shares for approximately 8 billion yuan (including transaction fees). The buyback, funded by self-owned or self-raised capital including stock repurchase special loan funds, was intended for equity incentives. The highest repurchase price was 365.38 yuan per share, and the lowest was 328.04 yuan per share. On September 8, Longsys listed on the Hong Kong Stock Exchange, becoming an 'A+H' listed independent semiconductor company. The global offering raised net proceeds of about 68.03 billion Hong Kong dollars, with 78.3% allocated to enhancing chip design and high-end storage product development. For the first half of 2026, Longsys reported revenue of 240.88 billion yuan, up 136.26% year-on-year, and net profit of 105.77 billion yuan, a surge of 71,528.66%. Huatai Securities forecasts that storage price increases may moderate in the second half of 2026, but AI demand will keep the market tight, supporting the company's business trends. As of September 21, Longsys' A-share price closed at 347.79 yuan, H-share at 191.6 Hong Kong dollars, with a total market capitalization of 154.4 billion yuan.
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