Victory Giant Technology Huizhou Co Ltd

Shengyi Electronics announced on the evening of August 28 that it plans to have its wholly owned subsidiary Ji'an Shengyi Electronics invest in the construction of a high-speed interconnect circuit board manufacturing project called Core Computing Intelligent Connectivity. The total investment is approximately 2.257 billion yuan, of which new investment is about 2.158 billion yuan. The products are positioned as HDI printed circuit boards for AI servers, automotive electronics, and other fields, with a designed capacity of 445,900 square meters per year. In the first half of the year, the company's revenue was 5.784 billion yuan, up 53.46 percent year on year, and net profit attributable to the parent company was 1.111 billion yuan, up 109.36 percent year on year. Gross margin rose to 34.31 percent, a new high since listing. As of the close on August 28, Shengyi Electronics traded at 131.2 yuan per share, with a total market value of about 109.9 billion yuan, and had risen nearly 40 percent during the year. The company noted that project funding will come from its own and self-raised funds, while cash and cash equivalents at the end of the period were only 407 million yuan, and the asset-liability ratio rose to 53.76 percent, creating funding pressure. In the industry, according to CPCA statistics, in the first half of 2026 there were 76 new investment projects in China's PCB industry, with a total investment of about 169.1 billion yuan. Leading manufacturers such as Victory Giant Technology, Avary Holding, and Wus Printed Circuit have all expanded capacity significantly, but the new capacity is expected to be released mainly from the second half of 2026 to 2028, posing a risk of oversupply.

Victory Giant Technology's actual controller Chen Tao transferred 39% of his stake in Shenghua Xinye and 35% of his stake in Hongda Investment to his spouse Liu Chunlan. After the equity restructuring, Chen Tao and Liu Chunlan will hold 51% and 49% of Shenghua Xinye respectively, and each will hold 35% of Hongda Investment. The company said the move is an internal adjustment within the actual controller's family and will not lead to a change in controlling shareholder or actual controller, but the market still speculated it may involve divorce. On August 28, the stock closed down 8.15%. Victory Giant Technology mainly produces automotive powertrain pumps and motor control products. Its share price has risen more than 580% cumulatively in 2025, briefly touching 402 yuan per share in the first half of this year, and falling back to around 240 yuan per share by the close on August 28. The company disclosed its 2026 interim report last night, with first-half revenue of 11.629 billion yuan, up 28.77% year-on-year, and net profit attributable to the parent of 2.857 billion yuan, up 33.30% year-on-year.

Victory Giant Technology released its 2026 interim report. Total operating revenue was 11.629 billion yuan, net profit attributable to the parent company was 2.857 billion yuan, and net cash inflow from operating activities was 2.911 billion yuan. The company's latest asset-liability ratio was 39.85%, and gross margin was 33.22%, down 1.24 percentage points from the previous quarter and down 3.00 percentage points from the same period last year. Latest return on equity was 7.54%, down 12.03 percentage points from the same period last year. Diluted earnings per share were 3.14 yuan. Total asset turnover was 0.24 times and inventory turnover was 1.72 times, both ranking 46th among peers. The number of shareholders was 284,000, and the top ten shareholders held 33.64% of total share capital.

The Shanghai Composite Index closed down 62.58 points, or 1.61%, at 3,814.20 today, after the United States announced new tariffs on 60 countries, with China hit by the highest rate of 12.5%. Technology and semiconductor stocks led the market lower, with Cambricon Technologies falling 1.92%, SMIC down 0.94%, Zhongji Innolight losing 2.43%, Eoptolink Technology dropping 4.28%, and Victory Giant Technology declining 3.73%. For the week, however, the Shanghai Composite Index rose 1.33%.

The global battery electric vehicle market is projected to reach USD 8.6 trillion by 2033, driven by advancements in lithium-ion technology, government incentives, and expanding infrastructure in emerging markets. The Asia-Pacific region is expected to contribute significantly to this growth. In related trading, EcoPro BM rose 9.1% to close at ₩121,600, while Victory Giant Technology (HuiZhou) Ltd fell 8.3% to end at CN¥272.00. Tesla finished at $406.55, up 3.2%.

On July 8, a total of 20 companies were surveyed by institutions, with funds participating in research activities for 15 of them. Tianhao Energy attracted the most attention, with 16 funds taking part in the survey. Four companies saw a cluster of five or more funds conducting research. Greenlink Technology and Qiaofeng Intelligent each received collective research from nine funds. In terms of sector distribution, there were five main-board companies on the Shenzhen Stock Exchange, nine on the ChiNext board, and one on the STAR Market. Companies with a total market capitalization exceeding 100 billion yuan include Victory Giant Technology and Salt Lake Industry. Six companies, including Jiaman Apparel, Tianhao Energy, and Dataway, have a market cap below 10 billion yuan. Over the past five trading days, only Jiaman Apparel and Wasu Media saw their share prices rise, with gains of 4.26 percent and 1.72 percent respectively. As many as 13 stocks declined, with Victory Giant Technology, Salt Lake Industry, and Guoneng Rixin leading the losses. In terms of capital flows, Fenglone Stock led with a net inflow of 429 million yuan in main funds over the past five days, while Suntak Technology and Qiaofeng Intelligent recorded net inflows of 252 million yuan and 200 million yuan respectively. On the earnings front, only Salt Lake Industry released its first-half performance forecast, projecting a median net profit of 6.15 billion yuan, a year-on-year increase of 137.17 percent.

Luxshare Precision Industry has raised HK$24.3 billion, or $3.1 billion, in Hong Kong's largest initial public offering this year. The Chinese components manufacturer and Apple supplier priced 383.5 million shares at HK$63.28 each, the top of the marketed range, representing a 13% discount to its latest Shenzhen closing price. The stock is expected to begin trading in Hong Kong on Thursday. The offering surpasses the HK$23.1 billion raised by Victory Giant Technology Huizhou in April, and investor demand appeared strong enough that Luxshare stopped taking orders early. Cornerstone investors in the listing include Temasek Holdings, GIC and Hillhouse Investment.