Shenzhen Longsys Electronics, the Chinese parent company of Lexar, announced that it’s expecting a net profit of $1.36 to $1.62 billion (or 9.2 to 11 billion yuan) for the first half of 2026, smashing its year-ago profit of just $2.2 million. This represents an incredible jump of 61,818% to 73,636%, and it comes on revenue forecasts of $3.24 to $3.68 billion (22 to 25 billion yuan) — more than double the $1.5 billion it achieved last year, according to the South China Morning Post (SCMP).
This massive growth is attributed to the increased demand for—you guessed it— memory and storage chips due to the global AI infrastructure buildout, and all that demand is competing for limited memory wafer capacity. Longsys says that it has signed long-term agreements and memoranda of understanding with global memory wafer suppliers to ensure supply stability.
