New Stock News | Victory Giant Technology submits application to Hong Kong Stock Exchange as a supplier of artificial intelligence and high-performance computing PCB.

According to the disclosure on August 20 by the Hong Kong Stock Exchange, Victory Giant Technology (Huizhou) Co., Ltd. (referred to as Victory Giant Technology) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Morgan Stanley, China Securities Co., Ltd. International, and GF SEC (Hong Kong) as joint sponsors. The prospectus shows that Victory Giant Technology is a global leading supplier of artificial intelligence and high-performance computing PCBs, focusing on the research, development, production, and sales of advanced HDI and high-layer PCBs. With leading technology, high-quality products, and strong production capacity, it has become an important partner for many top global technology companies. According to Frost & Sullivan data, based on the revenue scale of artificial intelligence and high-performance computing PCBs in the first quarter of 2025, the company's market share ranks first globally, with core applications covering AI power cards, servers, AI servers, data center switches, and general boards. As a leader in the PCB industry, Victory Giant Technology has the ability to manufacture PCBs with over 100 layers and was among the first in the world to achieve mass production of 6-order 24-layer HDI products, as well as the ability to produce 8-order 28-layer HDI and 16-layer Any-layer HDI technologies. Its products are widely used in artificial intelligence, new energy vehicles, high-speed network communications, and other high-growth areas, promoting the development of China's high-end PCB industry. In the current explosive growth of artificial intelligence technology, the iteration of AI power hardware has led to structural growth opportunities in the PCB industry. As a critical carrier for core computing components, PCB boards need to meet strict requirements such as high frequency, low signal loss, and high heat dissipation. The value of a single PCB in an AI server is far higher than that in a traditional server. With the continuous expansion of AI applications, the demand for high-performance PCBs is expected to increase significantly. According to Frost & Sullivan data, the global server shipment volume is estimated to be around 16 million units in 2024, with AI servers accounting for approximately 2 million units, or 12.8% of the total server shipments. By 2029, the global server shipment volume is expected to reach 18.8 million units, with AI server shipments reaching 5.4 million units, and a compound annual growth rate exceeding 20%, increasing the proportion of total server shipments to 21.7%. The data center sector is also showing strong growth momentum, with global data center capital expenditure reaching $455 billion in 2024, most of which is invested in artificial intelligence infrastructure, significantly driving demand for PCBs with high requirements for signal transmission speed and frequency. Financially, for the fiscal years 2022, 2023, 2024, and the three months ended March 31, 2025, Victory Giant Technology achieved revenues of approximately RMB 7.885 billion, 7.931 billion, 10.731 billion, 2.392 billion, and 4.312 billion, respectively; during the same periods, the company's attributable net profit was RMB 791 million, 671 million, 1.154 billion, 210 million, and 921 million, respectively.