(Yicai) June 17 -- Shares of Longsys Electronics rose today after the Chinese manufacturer of flash and dynamic random access memory said it has teamed up with US peer Sandisk to develop high-quality Universal Flash Storage products and solutions.

Longsys [SHE: 301308] closed 6.8 percent higher at CNY76.50 (USD10.65) a share in Shenzhen today, after surging by as much as 7.4 percent at one point.

Longsys' Hong Kong subsidiary and Sandisk inked a binding agreement to make custom high-quality UFS products and solutions for clients in the phone and Internet of Things markets yesterday, the Shenzhen-based parent firm announced late on the same day.

The pair aims to provide customers with a sustainable, commercially competitive advantage by partnering on differentiated and innovative storage products, Longsys said, adding that they plan to support clients from product development to market application, including offering high-value technology and product manufacturing services.

The alliance will leverage the tech expertise of Longsys in main control chips, firmware research and development, packaging, and testing manufacturing, as well as that of Sandisk in NAND flash memory, a non-volatile storage technology, and system design, the Chinese company pointed out.

Longsys is the world's second-largest independent memory supplier and the largest in China and is one of the few Chinese firms with independent brands in the business-to-business and business-to-consumer memory markets, including FORESEE, Lexar International, and Zilia. Its products are used in smart mobile terminals, data centers, vehicles, Internet of Things devices, security monitoring, industrial control, and others.

Longsys' overseas revenue accounted for over 71 percent of its income last year, according to its annual financial report. The company produces high-end memory modules in China and Brazil.

Editor: Martin Kadiev