Victory Giant Tech details prior fund use, eyes new capital

** Victory Giant Technology (Huizhou) (SZSE:300476) has released its report on the utilization of funds from its previous capital raise, alongside announcements concerning its upcoming shareholder meeting and planned A-share offering. The company confirms it has fully utilized the net proceeds of CNY 1,985,343,304.25 from its 2021 offering as of December 31, 2024. These funds were channeled primarily towards the "High-end Multilayer, High-order HDI Printed Circuit Board and IC Substrate Construction Project" (partially terminated), with remaining amounts allocated to perpetual working capital and strategic acquisitions, including Pole Star Limited. The company is now seeking approval at its upcoming annual shareholder meeting on April 18, 2025 for a new A-share offering directed at specific investors. This offering aims to raise no more than CNY 1,900,000,000 to support projects such as the "Vietnam Victory Giant Artificial Intelligence HDI Project" and "Thailand High Multi-layer Printed Circuit Board Project", while also replenishing working capital. Victory Giant emphasizes this move will bolster its financial health and support future strategic growth.