HONG KONG, Aug 27, 2025 - (ACN Newswire) - Since the second half of last year, the Hong Kong stock market has witnessed a wave of the “A+H” boom, with an increasing number of high-quality mainland companies disclosing plans to list in Hong Kong. Among them, the new energy, technology, and advanced manufacturing sectors have become popular areas of interest. Leading companies with core technologies and industry positions have become hotspots for capital market attention. Recently, another “hardcore” advanced manufacturing player has approached the HKEx. On August 20, Victory Giant Technology (HuiZhou) Co., Ltd. (“Victory Giant Technology”), the global leader in advanced PCB products for AI and high-performance computing, submitted its listing application to the HKEx, marking the beginning of a new stage in its international development.

Public information shows that Victory Giant Technology has been deeply engaged in advanced PCBs, including high-build-up HDIs and high-layer-count MLPCBs, with products widely applied in fast-growing industries such as AI, EV and high-speed telecommunications equipment. Victory Giant Technology ranked first globally in terms of sales revenue in the AI computing power PCB market in the first quarter of 2025.

Explosive Growth in Financial Results Was Recorded, and AI-Driven Demand Is Expected to Drive Increases in Both Volume and Price

In recent years, the AI industry has entered a period of rapid commercialization, driving exponential growth in computing power demand. Strong demand for servers and switches has in turn created unprecedented development opportunities for advanced PCB products, such as high-layer-count MLPCBs and high-build-up HDIs. As a technology leader in the PCB industry, Victory Giant Technology has precisely seized this era’s opportunities, fueling rapid growth in its performance.

From 2022 to 2024, the Company’s revenue increased from RMB7.885 billion to RMB10.731 billion. In the first quarter of 2025, the Company achieved revenue of RMB4.312 billion, representing a year-on-year increase of 80.3%. In terms of net profit, Victory Giant Technology performed even more impressively. From 2022 to 2024, net profit rose from RMB0.791 billion to RMB1.154 billion. In the first quarter of 2025, net profit reached RMB0.921 billion, marking a substantial year-on-year increase of 339.2%.

Behind these impressive figures is the market’s full validation of Victory Giant Technology’s technological advantage in high value-added products, primarily AI servers. Related order volumes have surged, driving an improvement in the Company’s profitability. In the first quarter of 2025, Victory Giant Technology’s gross margin reached 33.4%, up 10.7 percentage points from 2024, while net margin was 21.3%, an increase of 10.5 percentage points compared to 2024.

As AI applications continue to expand, the demand for high-performance PCBs is expected to maintain a rapid growth trajectory. According to Frost & Sullivan, the global AI and high-performance computing PCB market is projected to reach USD15 billion between 2024 and 2029, with a compound annual growth rate (CAGR) of 20.1%, leading other PCB application sectors. At the forefront of industry trends, Victory Giant Technology has established itself as a key partner to numerous global technology leaders through its technological and production advantages in high-build-up HDIs and high-layer-count MLPCBs, maintaining a leading position in the global market. Looking ahead, as key applications such as AI accelerator cards and AI servers continue to scale up, the Company is poised to sustain robust growth momentum, with both volume and price increases reinforcing its growth trajectory.

Production Capacity and Global Layout: Delivery Capability as a Core Barrier

In the high-end PCB sector, “delivery capability” defines competitiveness. Those who can achieve higher yield rates, shorter lead times, and sustainable large-scale production will secure critical influence in the upstream supply chain. Through domestic and global expansion, Victory Giant Technology has built an operational network integrating high-end manufacturing, customer service, and regional collaboration.

The Company’s domestic production hub is located at its headquarters in Huizhou, where it integrates R&D, design, advanced manufacturing and technical support. This production center supports the development and production of a wide range of products including high-layer-count MLPCBs, high-build-up HDIs and other innovative products, while enabling flexible production scheduling and highly efficient capacity coordination. Internationally, the Company has expanded its PCB production capacity in Southeast Asia through the acquisition of APCB Electronics (Thailand), while accelerating the construction of manufacturing bases in Vietnam and Thailand. These efforts enhance both service coverage and delivery resilience for global clients.

With forward-looking capacity planning, Victory Giant Technology has established itself as one of the world’s largest production bases for high-build-up HDIs and high-layer-count MLPCBs. The Company boasts an annual production capacity including 600,000 square meters for HDIs with a build-up of 6+N+6 or above and 5,160,000 square meters for high-layer-count MLPCBs with more than 14 layers, ranking among industry leaders in both scale and technical capabilities.

Furthermore, its smart factories powered by IIoT enable end-to-end automation, full-process traceability, and AI-assisted decision-making. Compared to traditional production facilities, the smart factory has shortened lead times by 3-5 days, increased production capacity by approximately 40%, and reduced manpower needs by approximately 50%. Supported by flexible, automated production lines, data-driven decision-making, and intelligent warehousing, the Company ensures both high yield rates for premium products and timely global delivery.

To further enhance customer satisfaction, Victory Giant Technology has established branches, subsidiaries, and offices across multiple global regions, supported by dedicated technical service teams to provide worldwide sales support and technical assistance. By building localized service networks, the Company effectively addresses diverse client needs while continuously strengthening its influence in international markets.

The Management Team Drives with the “Technology + Globalization” Dual Engines

A company that can continuously navigate through cycles depends on a management team with strategic vision. The growth story of Victory Giant Technology is a reflection of how founder Chen Tao and his team have consistently seized opportunities of the times and dared to push the limits of technology.

Mr. Chen Tao has worked in the PCB field for many years, gradually growing from a technical novice to a widely recognized expert and leader in the PCB industry. Early in his entrepreneurial journey, he led his team to break the foreign monopoly by offering exceptional service commitments — “48-hour proofing and 7-day delivery”. With his strong technical expertise, sharp industry insight, and decisive strategic leadership, he has consistently guided the Company to align with the industry’s development rhythm, making forward-looking layouts at critical moments of industrial transfer trends and downstream structural upgrades.

As early as 2015, Victory Giant Technology became among the first Chinese PCB manufacturers to establish one of the first smart PCB factories. In 2017, Chen Tao proactively focused on the development of GPU and CPU technologies, strategically positioning the Company in core technologies such as high-build-up HDI. Since 2022, the Company has actively entered the field of artificial intelligence and other application areas, leveraging its technological advantages to establish a first-mover advantage in the AI cycle. This forward-looking strategic roadmap has allowed Victory Giant Technology to deeply bind with leading customers, participate in technological pre-research ahead of time, and successfully seize the market opportunity.

Under Chen Tao’s leadership, Victory Giant Technology has attracted over 50 core management and technical professionals from regions such as the United States, Japan, South Korea, and Singapore, building a team that combines a global perspective with local execution capability. The current Vice President and Chief Technology Officer, Victor J. Taveras, has held positions at leading global PCB companies. Under his leadership, we have achieved breakthroughs in frontier technologies such as 30-layer HDIs with a 10+10+10, aligning the Company’s technical pace with the new platform iteration needs of global customers.

It is under the leadership of this management team, driven by the “Technology + Globalization” dual engines, that Victory Giant Technology has been able to continuously stay at the forefront of industry development. In just a few years, it has grown from a regional leader to an important global leader in the PCB industry.

Victory Giant Technology submits its listing application to the HKEx at a pivotal moment, coinciding with the full-scale explosion of the AI industry. As a leading company in the global PCB field for artificial intelligence and high-performance computing, it not only demonstrates strong momentum with high-performance growth but also builds a moat in terms of capacity layout and global delivery capabilities. With the continuous evolution of AI technologies and applications, Victory Giant Technology is expected to occupy a higher position in the global value chain, unlocking greater growth potential.

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