Victory Giant Technology completes $1.9 bn private placement

Victory Giant Technology (Huizhou) Co., Ltd. has completed a targeted share issuance on the Shenzhen GEM. A total of 7,660,672 shares were issued at a price of CNY 248.02 per share, raising gross proceeds of CNY 1,899,999,869.44. After deducting issuance expenses, the net proceeds amounted to CNY 1,876,386,754.11. The newly issued shares are expected to begin trading on October 20, 2025, with a six-month lock-up period for the 10 subscribing investors.

The issuance was approved by the China Securities Regulatory Commission and followed a comprehensive pricing process involving 27 qualified investors. Guosen Securities Co., Ltd. served as the sponsor and co-lead underwriter. The capital injection increased the company's total share capital from 862,688,641 shares to 870,349,313 shares.

The proceeds will be invested in the Vietnam Shenghong AI HDI project and the Thailand High-Layer Printed Circuit Board project, with remaining funds allocated to working capital and bank loan repayment. This strategic move aligns with the company's focus on high-margin products and international expansion, expected to boost profitability, which has seen a significant increase in 2024 and the first half of 2025.