China memory module giant’s first-half profit set to jump more than 600-fold

One of China’s biggest memory module makers is forecasting a more than 600-fold surge in first-half profit, highlighting the boost to the mainland’s downstream storage companies from the global memory-chip upcycle. Shenzhen Longsys Electronics said on Friday evening that the net profit attributable to shareholders was expected to reach between 9.2 billion yuan (US$1.36 billion) and 11 billion yuan for the six months ended June 30, compared with just 14.8 million yuan a year earlier. That would..