Hong Kong, 9 March 2026 – China’s printed circuit board (PCB) manufacturer Victory Giant Technology (Huizhou) Co. is reportedly preparing for a major Hong Kong stock listing that could raise more than US$2 billion, with the offering potentially taking place as early as April, according to people familiar with the matter.
The planned listing would mark a secondary share sale for the company, which already trades on the Shenzhen Stock Exchange, and reflects growing investor appetite for companies linked to the artificial intelligence and high-performance computing supply chains.
A Key Supplier to the AI Infrastructure Industry
Victory Giant Technology specialises in manufacturing high-precision printed circuit boards (PCBs) used in AI servers, data centres and advanced electronics systems.
PCBs form a critical component of modern computing infrastructure, connecting processors, memory modules and networking equipment used in large-scale AI systems. Demand for such components has surged globally as companies race to expand computing capacity to support artificial intelligence applications.
The firm has benefited from the explosive growth in AI-related hardware demand, with strong revenue growth driven by the rapid expansion of cloud computing and AI data centres.
Hong Kong Reasserts Role as Tech Fundraising Hub
The potential US$2 billion deal highlights Hong Kong’s renewed momentum as a fundraising centre for technology companies across Asia.
Recent listings and IPO pipelines indicate growing investor interest in companies tied to AI infrastructure, semiconductor manufacturing and advanced electronics, sectors that have become strategically important for both China and global technology supply chains.
Hong Kong’s capital markets have seen a resurgence in activity as Chinese technology firms increasingly seek international investors through the city’s stock exchange.
From Shenzhen Listing to Global Investors
Founded in 2006, Victory Giant Technology went public on the Shenzhen exchange in 2015 and has since grown into one of China’s major PCB manufacturers serving high-tech industries.
The Hong Kong listing would allow the company to broaden its investor base and strengthen its international profile while raising funds to expand capacity and technological development.
People familiar with the matter said the details of the transaction, including timing and size, could still change depending on market conditions.
AI Supply Chain Driving Investor Interest
The global artificial intelligence boom has triggered a wave of investment across the entire semiconductor and electronics value chain, from chip designers and GPU makers to component manufacturers like PCB suppliers.
Printed circuit boards play a foundational role in enabling AI hardware systems by providing the structural and electrical backbone for processors and networking equipment used in high-performance computing clusters.
As AI investment accelerates globally, companies supplying these critical components are attracting strong investor interest.
Strategic Timing for the IPO
If completed, the proposed Hong Kong offering would rank among the larger technology IPOs in Asia this year and signal renewed confidence in the region’s equity capital markets.
For Victory Giant, the fundraising could provide capital to expand manufacturing capacity and strengthen its position within the rapidly evolving global AI supply chain.
For Hong Kong, the listing would further reinforce its status as a gateway for Chinese technology firms seeking international capital while navigating an increasingly competitive global technology landscape.
