Hosin shares flat in Hong Kong trading debut

Shares of memory manufacturer Hosin Electronics Co. Ltd. (2681.HK) opened lower in their Hong Kong trading debut on Thursday, before regaining most of their losses to close down 0.04% at HK$72.80 by the midday break.

The company announced it sold 14.7 million shares for HK$72.83 each, near the bottom of the indicative range of HK$72.29 to HK$82.90, raising net proceeds of HK$993.5 million ($127 million). The Hong Kong public offering for local investors was 1.37 times oversubscribed, while the international offering was 1.45 times subscribed. Its seven cornerstone investors included Transsion International and Longsys Investment.

Hosin primarily supplies embedded memory, solid-state drives and DRAM products. It was the world’s fifth-largest independent memory manufacturer by revenue in 2025. In the first four months of this year, its revenue rose 185.7% year-on-year to 8.01 billion yuan ($1.2 billion), while its net profit surged about 3,000% to 3.84 billion yuan.

The company plans to use 40% of the IPO proceeds for the development and commercialization of memory products, 35% for research, development and iteration of controller chips, and 15% to enhance its wafer and controller chip validation and testing capabilities. The remainder will go toward working capital and general corporate purposes.

By Lee Shih Ta

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