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South Korea Unemployment Rate (SA) (Nov)--
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Shenzhen Longsys Electronics said its Hong Kong subsidiary signed a binding memorandum of understanding with US storage company Sandisk Technologies.
The partnership aims to develop high-performance universal flash storage products tailored for mobile and internet-of-things markets, according to a Monday filing with the Shenzhen bourse.
Shares of the digital storage product manufacturer closed 7% higher Tuesday.
Shenzhen Longsys Electronics swung to 2024 net profit attributable to shareholders of 498.7 million yuan, or 1.20 yuan per share, from a loss of 827.8 million yuan, or 2.01 yuan per share, the previous year.
The digital storage products manufacturer's revenue jumped 72% year over year to 17.5 billion yuan from 10.1 billion yuan, according to a Friday filing with the Shenzhen bourse.
Shares of the company were down 5% in recent trade.
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