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Longsys Achieves New Breakthrough in International Compliance and Steadily Expands Global Market
2024.04.25
On 24 April, Longsys received an official letter from the U.S. Department of Justice ("Termination Letter"), clearly indicating the full termination of all compliance obligations requested by the Committee on Foreign Investment in the United States (CFIUS) due to the successful acquisition of the Lexar brand in 2017. This milestone development signifies the complete removal of compliance obligations that Lexar's U.S. business has been required to undertake for nearly seven years, creating vast development opportunities for Lexar's global business.
This significant progress not only means that Lexar's business operations will become more free and flexible but also that its products and services will be more efficient, innovative, and better able to meet consumer needs, further enhancing user experience. Additionally, this important development fully demonstrates the remarkable achievements of Longsys in international compliance and has gained widespread recognition in the international market.
Looking back, Longsys has gone through the entire process of compliance obligations arised, negotiation, fulfillment, and termination. Since Longsys officially obtained CFIUS approval for the acquisition of the Lexar brand in 2018, it has strictly fulfilled the obligations outlined in the Letter of Assurance (LOA) for its operations in the United States. During this period, the company, with its outstanding compliance performance, gradually lifted phase-specific restrictions, which has not only accumulated valuable international compliance management experience, but also provided strong support for the company's international customer cooperation.
In recent years, Longsys has accelerated its global business layout by acquiring storage packaging and testing manufacturing companies such as Longforce Suzhou and Zilia Technologies, effectively expanding its overseas market for storage. Longsys has also collaborated with industry chain partners to jointly create an innovative TCM business model, deeply engage in international business cooperation, and actively practice the dual-cycle strategy of domestic and international circulation, continuously enhancing its international operational capabilities.
The exemption of compliance obligations is not the end but rather a new starting point for branded semiconductor memory enterprises to conduct international business operations steadily. In the future, Longsys will continue to uphold the concept of compliance operations, continuously optimize its business structure, improve product quality and service standards, and provide comprehensive compliance guarantees for global customers and consumers.
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