Shenzhen Longsys Electronics Co Ltd [Photo/WeChat account: shlgguanweihui]

Shenzhen Longsys Electronics Co Ltd recently established three wholly-owned subsidiaries in the Lin-gang Special Area of the China Shanghai Pilot Free Trade Zone.

The subsidiaries are Shanghai Longsys Storage Technology Co Ltd (Longsys Storage), which has 500 million yuan ($74.55 million) in registered capital, Shanghai Longsys Microelectronics Technology Co Ltd (Longsys Microelectronics), which has 200 million yuan in registered capital, and Shanghai Longsys Digital Sci-Tech Co Ltd (Longsys Digital), which as 100 million yuan in registered capital.

The three companies plan to make full use of Lin-gang's import and export, research and development (R&D) design, offshore resend trading, and other policies to develop an R&D center and a cross-border business center.

The R&D center will focus on integrated circuit (IC) design and storage, and its main products will be SoC (System on Chip), NOR Flash, and NAND Flash for small capacity storage, storage hardware, and development and test services of firmware or software.

FORESEE, an embedded storage brand of Longsys Electronics [Photo/WeChat account: shlgguanweihui]

The cross-border business center, in its early stages, will focus on offshore resale, including international trade, procurement, and sales agencies. It will gradually develop into a global sales and procurement platform and a global warehousing and logistics center for Longsys.

Longsys Storage will manage the Shanghai headquarters and the cross-border business center, while Longsys Microelectronics and Longsys Digital are responsible for R&D in Shanghai.

The business platform in Lin-gang is expected to generate more than 14 billion yuan in sales in the next five years (including 2 billion yuan for R&D and design-related businesses and 12 billion yuan for cross-border trade businesses).