IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Sigenergy 06656.HK	New energy and environmental protection	324.2	100	32,746.96	2026/04/13	2026/04/15	2026/04/16
Manycore Tech 00068.HK	Advanced hardware and software	6.72-7.62	500	3,848.43	2026/04/14	2026/04/16	2026/04/17
Gpixel 03277.HK	Electronic Equipment & Instruments	39.88	100	4,028.23	2026/04/14	2026/04/16	2026/04/17
Youzan Tech 06051.HK	Application Software	N/A	4,000	N/A	N/A	Not applicable	2026/04/17
Victory Giant Tech 02476.HK	Printed Circuit Boards	N/A	100	21,199.67	2026/04/16	2026/04/20	2026/04/21

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Sigenergy
06656.HK

New energy and environmental protection

324.2

100

32,746.96

2026/04/13

2026/04/15

2026/04/16

Manycore Tech
00068.HK

Advanced hardware and software

6.72-7.62

500

3,848.43

2026/04/14

2026/04/16

2026/04/17

Gpixel
03277.HK

Electronic Equipment & Instruments

39.88

100

4,028.23

2026/04/14

2026/04/16

2026/04/17

Youzan Tech
06051.HK

Application Software

N/A

4,000

N/A

Not applicable

2026/04/17

Victory Giant Tech
02476.HK

Printed Circuit Boards

N/A

100

21,199.67

2026/04/16

2026/04/20

2026/04/21

Summary

We are 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“). Our technologies, product quality and robust production capabilities position us as a crucial supplier to leading global technology companies. According to Frost & Sullivan, we 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 by the same metric in 2024 with a market share of 1.7%, with key applications covering AI accelerator cards, servers, AI servers, data center switches and UBB. We are able to manufacture high-layer-count MLPCBs with more than 100 layers. We are 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, demonstrating our capability to deliver ultra-complex, high-density PCBs widely used in cutting-edge AI and high-performance computing applications at scale, reinforcing our industry leadership. Our technologies support the evolving needs of fast-growing industries such as AI, EV and high-speed telecommunications equipment, contributing to the advancement of China’s high-end PCB manufacturing industry. The proliferation of AI is driving advancements in AI-related hardware, creating structural growth opportunities for the PCB industry. As a key component supporting computing systems, PCB must meet increasingly stringent standards, including high frequency and speed, low signal loss and enhanced heat dissipation. The PCB content value per unit in AI servers is notably higher than that in traditional servers. As AI applications continue to expand, the demand for high-performance PCBs is expected to grow substantially. According to Frost & Sullivan, the global AI server shipments reached approximately 2.0 million units in 2024 and are projected to grow at a CAGR of over 20% to approximately 5.4 million units by 2029, with their share of total server shipments increasing to approximately 29.0%. Accordingly, we were among the first PCB manufacturers in China to establish smart factories, adopt green manufacturing practices, and expand into emerging sectors. These initiatives increase production output, shorten delivery cycles, reduce energy consumption and lower the labor intensity, ultimately enhancing our overall competitiveness. As we continue to strengthen our core capabilities, we have seized the growth opportunities driven by the development of AI and EV, built a global delivery network to meet rising demand worldwide and rose to the top tier of advanced PCB manufacturers globally. Our Product Portfolio We offer a comprehensive range of products used in a variety of applications. We have expanded our presence in the following key sectors including AI and high-performance computing, smart devices, automotive electronics, telecommunications and medical devices, with a focus on technologies supporting AI computing such as GPUs and CPUs: (i) AI and High-performance Computing: We have developed technologies for applying low-loss materials and optimizing signal integrity to support AI and high-performance computing. Our products center on high-build-up HDIs and high-layer-count MLPCBs supporting high-frequency and high-speed signal transmission. They are primarily used in AI accelerator cards, servers (including AI servers), data center switches and high-speed optical modules; (ii) Smart Devices: We focus on the key technological requirements of smart devices, including high integration, slim design and high-speed computing performance. Our products include HDIs and FPCs used in AI-powered PCs, wearables and AR/VR devices; (iii) Automotive Electronics: Our products are designed to meet the requirements of automotive-grade reliability, thermal resistance and signal integrity. Our products include HDIs, high-layer-count MLPCBs and FPCs, which are widely used in EV electrical systems, intelligent driving systems, vehicle body control modules and smart cockpits; (iv) Telecommunications: We focus on the application of materials that support high-frequency, high-speed transmission and technologies to ensure signal integrity. Our products include high-layer-count MLPCBs and high-build-up HDIs designed for use in 5G base stations, optical communication equipment and data center optical modules; and (v) Medical Devices and Other Applications: Our products include MLPCBs, HDIs and FPCs, which are primarily used in advanced medical devices, industrial automation control systems and core control modules of humanoid robots. Our PCB products for humanoid robots have entered production and sales. Source: Victory Giant Tech (02476) Prospectus (IPO Date : 2026/04/13)
Listing Market	MAIN
Industry	Printed Circuit Boards
Background	Others
Major Business Area	Global

Corporate Information

Substantial Shareholders	Chen Tao (Total share: 28.25%)
Directors	Chen Tao (Chairman and Executive Director) Zhao Qixiang (President and Executive Director) Chen Yong (Vice President and Executive Director) Wang Haiyan (Executive Director) Liu Chunlan (Non-Executive Director) Wong Ting Chung (Independent Non-Executive Director) Xie Lanjun (Independent Non-Executive Director) Xie Lingmin (Independent Non-Executive Director) Zhang Jihai (Independent Non-Executive Director)
Company Secretary	Lin Sio Ngo Zhu Xiyao
Principal Bankers	Industrial Bank Co., Ltd
Solicitors	JunHe LLP Jun He Law Offices Robin Lynn & Lee CHP LAW LLC DFDL (Thailand) Limited Cleary Gottlieb Steen & Hamilton (Hong Kong)
Auditors	BDO Limited
Registered Office	40/F, Dah Sing Financial Centre, 248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://www.shpcb.com
Email Address	sales@shpcb.com
Tel No	(86 0752) 372-3205
Fax No

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