Hong Kong Listing

Timing is everything in capital markets — and Victory Giant Technology just proved it doesn't always matter. The Chinese PCB manufacturer launched its Hong Kong secondary listing seeking up to $2.2 billion despite what Reuters calls "market turmoil," banking on AI server demand to drive investor appetite. The company's Shenzhen shares have quadrupled over the past year as data centre and 5G infrastructure boom, with nine-month 2025 PCB revenue hitting $1.9 billion. Victory Giant's 273% profit surge and cornerstone backing from Morgan Stanley suggest some deals are too compelling for volatility to derail.