02476 勝宏科技
VGT
VGT
| Register Close | 2026/04/16 IPO Closing in 2 Days |
| Listing Date | 2026/04/21 |
|
|
|
|
|
|
|
|
|
|
IPO Detail
COMPANY PROFILE
Victory Giant Technology (HuiZhou) Co. is one of the key players in advanced printed circuit board (“PCB”) products for AI and high-performance computing in terms of sales revenue in 2024 and the first half of 2025, specializing in research and development, manufacturing and sales of high-build-up high-density interconnects (“HDIs”) and high-layer-count multi-layer printed circuit boards (“MLPCBs“).
--
According to the report, the Group ranked first globally in terms of sales revenue in the PCB market in the field of AI and high-performance computing in the first half of 2025 with a market share of 13.8% and ranked seventh globally in 2024 with a market share of 1.7%, with key applications covering AI accelerator cards, servers, AI servers, data center switches and UBB.
--
The Group is able to manufacture high-layer-count MLPCBs with more than 100 layers, it also one of the first companies globally to achieve mass production of 24-layer HDIs with a 6 12 6 build-up, as well as the technical capabilities for 30-layer HDIs with a 10 10 10 build-up, and 16-layer any-layer interconnect HDIs. The Group manufactures its PCB products in its production centers in Huizhou, Guangdong Province, PRC, Changsha, Hunan Province, PRC, Yiyang, Hunan Province, PRC, Phra Nakhon Si Ayutthaya, Thailand, and Melaka, Malaysia.
--
The Group’s customers mainly include established global AI technology solution providers, large cloud service providers, data center equipment OEMs, server manufacturers, top-tier EV companies, automotive electronics suppliers, prominent smart device brands and major medical device manufacturers.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Industrials |
| Major Business Area | Asia Pacific |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 83.35M H shares |
| No. of International Offer Shares | 75.01M H shares |
| No. of HK Offer Shares | 8.33M H shares |
| Offer Price | $209.88 |
| Stock Code | 2476 |
| Sponsor(s) | J.P. Morgan Securities (Far East) Limited, China Securities (International) Corporate Finance Company Limited, GF Capital (Hong Kong) Limited |
| Underwriter(s) | J.P. Morgan Securities (Asia Pacific) Limited, China Securities (International) Corporate Finance Company Limited, GF Securities (Hong Kong) Brokerage Limited, ABCI Securities Company Limited, China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited |
TIME TABLE
| Application Period | Apr 13 (Mon) - noon, Apr 16 (Thu) |
| Price Determination Date | Apr 17 (Fri) |
| Result Announcement Date | On or before Apr 20 (Mon) |
| Result Announcement Date | On or before Apr 20 (Mon) |
| Result Announcement Date | On or before Apr 21 (Tue) |
| Dealings in Shares commence on | Apr 21, 2026. (Tue) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $209.88 |
| Capitalization (H Shares) | 17.49B |
| NAV / share ($) | $35.82 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 209.88, the net proceeds raised would be HKD 17.29B, of which |
| 74% : Expand production in Chinese mainland, including the purchase of smart manufacturing equipment and expand market presence |
| 7% : Purchasing smart manufacturing equipment for mSAP and other machines |
| 9% : Strengthen core technological capabilities with a focus on advanced products |
| 10% : Ｗorking capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
Name︰
--
--
--
Subscription --
Result Announcement --
Listing --Offer Price︰--
| Currency | : |
| Listing Price | : |
| Board Lot | : |
| Admission Fee* |
: |
| Subscribing Lot | : |
| Subscribing Fee | : |
| Subscribing Amount | : |
*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).