On September 23, LONGSYS (09976.HK) rose 3.76% in regular trading, trading at 198.7 HKD/share, with turnover of HKD 10.40 million. The rally was driven by the completion of the company's RMB 800 million share buyback program and strengthening AI storage demand prospects.

LONGSYS recently announced that its buyback plan has been fully executed. Between September 8 and September 18, the company repurchased 2.29 million A-shares via centralized competitive trading, representing 0.53% of total A-share capital. The highest transaction price was RMB 365.38 per share and the lowest was RMB 328.04, with total consideration reaching RMB 800 million. The repurchased shares are designated for equity incentive or employee stock ownership plans.

On the industry front, UBS's latest estimates indicate that memory's share of global AI total capital expenditure is projected to rise from 37% to 64% next year, reinforcing the storage sector's bullish outlook. Additionally, recent joint policy guidance on accelerating advanced storage capacity development further aligns with LONGSYS's business positioning as a domestic storage module leader, whose enterprise storage revenue surged 208.80% year-over-year in the first half. The current share price remains at a notable discount to its 236 HKD IPO price, with buyback completion and favorable policy tailwinds providing repair momentum.

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