摩根士丹利：江波龙-2025 年中国国际电池技术交流会 展览会（BEST）反馈

Shenzhen Longsys Electronics Co Ltd | Asia Pacific China BEST Conference 2025 Feedback Key Takeaways Conclusion: We remain OW and continue to like Longsys for its self-help story on enterprise business growth and overseas expansion. It has demonstrated highly efficient synergies across its newly acquired assets. The company is trading at 4.4x 12M Fwd P/B, -1s.d. compared to its historical average, indicating market concerns on the overall NAND cycle amid macro uncertainties. We believe major suppliers' util ...