Chinese memory and storage firm expected to post more than 60,000% jump in profits due to exploding demand — Lexar owner Longsys forecasts nearly $1.5 billion profit for 1H26 compared to $2.1 million last year

Chinese memory and storage firm expected to post more than 60,000% jump in profits due to exploding demand — Lexar owner Longsys forecasts nearly $1.5 billion profit for 1H26 compared to $2.1 million last year

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, accor…