HONG KONG (Economic Information Agency, October 16) — Longsys (09976) is up 5.3%, currently trading at HK$158, with approximately 40,000 shares traded, involving a turnover of HK$6.02 million.
Longsys announced that it expects its third quarter profit, excluding non-recurring gains, for the period ending September 30 to range between RMB 3.753 billion and RMB 4.753 billion, representing an increase of 7.4 to 9.6 times year-on-year. Operating revenue is projected to be between RMB 13.9 billion and RMB 15.9 billion, up 1.1 to 1.4 times.
The group stated that its profit for the first nine months is expected to range between RMB 14 billion and RMB 14.9 billion, an increase of 18 to 19.9 times year-on-year. Profit excluding non-recurring gains is projected to be between RMB 13.8 billion and RMB 14.8 billion, up 27.8 to 29.9 times, with operating revenue rising to between RMB 38 billion and RMB 40 billion.
The group indicated that in the third quarter, various operational indicators further improved, especially with storage wafers at high prices and the asset-liability ratio at the end of the reporting period remaining below 50%. The overall supply-demand structure of the global memory market remained relatively tight during the third quarter. However, due to the high price base in earlier periods, the price increases for DRAM and NAND Flash significantly narrowed compared to earlier periods. The marginal contribution of rising storage prices to profitability has notably slowed. The storage industry is transitioning from a consumer-driven price cycle to an AI-driven technology cycle.
Currently, the Hang Seng Index stands at 24,315, up 253 points or 1.1%, with turnover on the main board nearing HK$4.9 billion. The Hang Seng China Enterprises Index is at 8,183, up 79 points or 1%. The Hang Seng Tech Index is at 4,126, up 65 points or 1.6%. (vs)
Longsys announced that it expects its third quarter profit, excluding non-recurring gains, for the period ending September 30 to range between RMB 3.753 billion and RMB 4.753 billion, representing an increase of 7.4 to 9.6 times year-on-year. Operating revenue is projected to be between RMB 13.9 billion and RMB 15.9 billion, up 1.1 to 1.4 times.
The group stated that its profit for the first nine months is expected to range between RMB 14 billion and RMB 14.9 billion, an increase of 18 to 19.9 times year-on-year. Profit excluding non-recurring gains is projected to be between RMB 13.8 billion and RMB 14.8 billion, up 27.8 to 29.9 times, with operating revenue rising to between RMB 38 billion and RMB 40 billion.
The group indicated that in the third quarter, various operational indicators further improved, especially with storage wafers at high prices and the asset-liability ratio at the end of the reporting period remaining below 50%. The overall supply-demand structure of the global memory market remained relatively tight during the third quarter. However, due to the high price base in earlier periods, the price increases for DRAM and NAND Flash significantly narrowed compared to earlier periods. The marginal contribution of rising storage prices to profitability has notably slowed. The storage industry is transitioning from a consumer-driven price cycle to an AI-driven technology cycle.
Currently, the Hang Seng Index stands at 24,315, up 253 points or 1.1%, with turnover on the main board nearing HK$4.9 billion. The Hang Seng China Enterprises Index is at 8,183, up 79 points or 1%. The Hang Seng Tech Index is at 4,126, up 65 points or 1.6%. (vs)
