Victory Giant Technology

Victory Giant Technology (HuiZhou) Co., Ltd.
Native name
胜宏科技(惠州)股份有限公司
FormerlyShenghua Electronics
TypePublic
SZSE: 300476
SEHK: 2476
IndustrySemiconductor
Founded2003; 23 years ago (2003)
FounderChen Tao
HeadquartersHuizhou, Guangdong, China
Key peopleChen Tao (Chairman)
Zhao Qixiang (President)
RevenueIncrease CN¥10.73 billion (2024)
Increase CN¥1.15 billion (2024)
Total assetsIncrease CN¥19.18 billion (2024)
Total equityIncrease CN¥8.93 billion (2024)
Websitewww.shpcb.com Edit this at Wikidata

Victory Giant Technology (HuiZhou) Co., Ltd. (VGT; Chinese: 胜宏科技; pinyin: Shènghóng kējì) is a publicly listed Chinese company that engages in the provision of printed circuit boards (PCB).

It is known to be Nvidia's leading supplier of PCB for AI servers and graphics cards.

Background

VGT was founded in 2006 by Chen Tao, a former soldier and civil servant who was previously a salesperson at a Taiwanese-owned PCB factory.

In 2015, VGT held its initial public offering and became a listed company on the Shenzhen Stock Exchange.

In 2019, Chen made the decision to establish VGT's High Density Interconnect (HDI) division. It was a bet on the complex, high-end boards needed for gaming graphics cards. The bet paid off as Victory Giant became a core supplier of Nvidia which included supplying its H-series AI accelerator cards.

In 2024, Victory Giant acquired Taiwanese competitor APCB's business in Thailand. Less than a year later, it was reported that VGT was on track to have its second factory up and running in Thailand.

In March 2025, VGT started constructing a factory in the Bac Ninh province of Vietnam. The project's estimated cost is $520 million.

In July 2025, VGT announced it planned to hold a secondary listing on the Hong Kong Stock Exchange.

In November 2025, Bloomberg News reported that shares of VGT had risen nearly 600% that year due to its ties with Nvidia and AI. VGT emerged as top in sales for AI and high-performance computing during that year.

On 21 April 2026, VGT listed on the Hong Kong Stock Exchange.

References

  1. 1 2 3 Li, Diana (26 November 2025). "Couple Rakes in $9 Billion as AI Circuit Board Shares Soar 530%". Bloomberg News.
  2. ↑ Kang, Janet (26 September 2024). "APCB's exit from Thailand and Taiwan worry smaller PCB makers amid industry shakeup". DigiTimes. Retrieved 14 March 2026.
  3. 1 2 Li, Lauly (3 September 2025). "Thailand carves out a less-glamorous AI niche: printed circuit boards". Nikkei Asia. Retrieved 14 March 2026.
  4. ↑ Ha, Thai (31 March 2025). "Two high-tech projects worth $640 mln break ground in northern Vietnam". theinvestor.vn. Retrieved 14 March 2026.
  5. ↑ Zhang, Julie (30 July 2025). "Nvidia's printed circuit board supplier Victory Giant plans Hong Kong IPO". South China Morning Post. Retrieved 14 March 2026.
  6. ↑ Cha, Sangmi (2 November 2025). "Victory Giant Tops Asia Stocks as Nvidia Link Fuels 600% Surge". Bloomberg News.
  7. ↑ Cha, Sangmi (21 April 2026). "Victory Giant Surges in Debut After Biggest Hong Kong Listing This Year". Bloomberg News.