Longsys Electronics has released its mid-year financial report for 2024, showcasing a remarkable business performance with a total revenue of 90.39 billion yuan in the first half of the year, which represents a substantial increase of 143.82% compared to the same period last year. The company's net profit attributable to shareholders has seen a significant turnaround, growing by 199.64% to reach 5.94 billion yuan.

In the second quarter (April-June), Longsys recorded a revenue of 45.86 billion yuan, which is a 106.06% increase year-over-year and a 3% increase from the previous quarter. The net profit attributable to the parent company for the quarter was 2.1 billion yuan, a 166.48% increase year-over-year but a 45.4% decrease quarter-over-quarter.

The company's R&D expenses have also seen a significant year-over-year increase of 92.51%, amounting to 4.75 billion yuan. Longsys's enterprise storage business has experienced notable growth, with revenue in this segment reaching 2.91 billion yuan, a more than 2000% increase year-over-year. The company's self-developed controller chip business continues to show an upward trend, with application volumes exceeding tens of millions of units.

The differentiated competitive advantage of Longsys's small-capacity storage chip business has become more pronounced, with a customer matrix primarily focused on automotive electronics users and supplemented by network and industrial customers. The cumulative shipment volume of this segment has far exceeded 50 million units. The high-end consumer storage brand Lexar has also seen a 70.55% increase in global sales revenue, reaching 16.30 billion yuan.

Longsys completed the acquisition of Yuancheng Suzhou's equity in 2023, securing a leading market position in the storage chip packaging and testing field. The company has advanced process technology capabilities in multi-chip packaging (MCP) and high-stack die integrated packaging, with various packaging specifications such as BGA, wBGA, QFN, and TSOP. The yield rates for DDR products (DRAM category), "1+8" stacked die packaging (NAND Flash), and QFN "4+1" packaging are all above 99.9%.

As of the end of the reporting period, Longsys's inventory amount stood at 88.32 billion yuan, accounting for 69.11% of current assets and 50.11% of total assets, nearly a 50% increase from the end of the previous year. This inventory amount is likely to increase further as the company's operating scale expands.