Sou Hu Cai Jing·2025-08-05 11:58Core Viewpoint - The IPO market is experiencing significant activity, particularly with the "A+H" model, as companies like Shenghong Technology prepare for their Hong Kong IPO, capitalizing on the AI boom and their strong partnerships with global tech giants like NVIDIA [3][12]. Company Overview - Shenghong Technology, valued at over 160 billion yuan, is recognized as a leading player in high-density printed circuit boards (PCBs) and has been a crucial partner for NVIDIA in the AI sector [3][12]. - The company has seen a remarkable stock price increase of over 350% this year, establishing it as a "tenfold bull stock" [3][12]. Partnership with NVIDIA - Shenghong Technology is one of the nine A-share suppliers certified by NVIDIA, noted for its strong technical capabilities in the high-end PCB market [5][12]. - The collaboration has led to significant advancements, including a 15% improvement in GPU power supply efficiency and a 22% reduction in chip power consumption [5][12]. Market Position and Growth - Shenghong Technology holds a 15% share of the global AI server PCB market, benefiting from the increasing demand driven by AI technologies [12][13]. - The company is projected to achieve a revenue of 10.731 billion yuan in 2024, reflecting a year-on-year growth of 35.31%, with a net profit increase of 71.96% [13]. IPO Plans and Market Trends - The upcoming IPO in Hong Kong aims to enhance Shenghong Technology's global brand influence and risk management capabilities, with a focus on international capital access [14]. - The Hong Kong IPO market has seen a surge, with 51 new listings in the first seven months of 2025, raising a total of 128.6 billion HKD, indicating a robust investment environment [14].