Guangdong-based Victory Giant is negotiating new US orders and expanding AI chip component production, acquiring land in Huizhou for a 3 billion yuan smart manufacturing facility.
Over 20 Chinese PCB companies, including Victory Giant Technology and WUS Printed Circuit, have announced significant capacity expansion plans in the first half of the year, committing hundreds of millions of dollars. This growth phase is primarily driven by the increasing demand for high-end boards used in AI servers.
Hong Kong's stock exchange secured second place globally in H1 2026 for capital raised, with $26.4 billion from IPOs and secondary listings, an 84.3% YoY increase. Mainland Chinese firms dominated, focusing on tech and consumer staples.
Victory Giant Technology's shares surged up to 60% in Hong Kong trading on Tuesday following its blockbuster IPO, the city's biggest listing this year. The Chinese printed circuit board supplier to Nvidia raised HK$20.1 billion ($2.57 billion) at HK$209.88 per share, with shares last trading 46% higher at HK$306.8.
Victory Giant, a Chinese printed circuit board manufacturer for AI and high-performance computing, surged 57.23% in its Hong Kong trading debut on Tuesday, with investors capitalizing on booming demand for AI infrastructure hardware. The retail tranche was oversubscribed 431.15 times. The company rose from seventh place with 1.7% market share in 2024 to lead the market with 13.8% in H1 2025, according to Frost & Sullivan data.
Victory Giant, a Chinese printed circuit board manufacturer for AI and high-performance computing, surged 57.23% in its Hong Kong trading debut on Tuesday, with the retail tranche oversubscribed 431.15 times. The company became the world's leading PCB maker by revenue in AI/HPC in H1 2025 with 13.8% market share, up from 7th place in 2024. Victory Giant entered Nvidia's H-series AI accelerator supply chain in 2023 and was promoted to tier-one supplier in 2024.
Chinese printed circuit board (PCB) suppliers are experiencing a surge in interest and pursuing IPOs, driven by the booming global demand for AI infrastructure. Companies like Victory Giant Technology and Jiangxi Redboard Technology are raising significant capital, with analysts projecting continued growth in the sector.
