HK Stock Market Move | At the end of trading, Victory Giant Technology (02476) fell more than 13%. The company stated that cooperation with core customers is smooth and orderly.

Victory Giant Technology (02476) fell by over 13% at the close of the market, dropping by 13.1% to HKD 229.6 as of the time of writing, with a turnover of HKD 2.271 billion. On the news front, Victory Giant Technology responded to investor concerns on the interactive platform on July 10. There have been recent rumors from foreign media that Nvidia's Rubin server architecture launch may be delayed. In response, the company stated that its cooperation with core customers is smooth and orderly, with capacity construction and product delivery progressing as planned. Due to commercial policy restrictions, they are unable to discuss specific customers and business details. In addition, the company has properly and orderly passed on the cost pressures from rising raw materials to downstream customers. It is worth noting that on June 12, Victory Giant Technology disclosed an announcement stating that, in order to fully utilize the company's idle own funds and further improve fund utilization efficiency, the company and its subsidiaries plan to increase up to HKD 18 billion (or equivalent foreign currency) for cash management.