VGT(SZ:300476) Chang Jiang Shang Bao·2025-08-22 00:03Core Viewpoint - Shenghong Technology is advancing its IPO process in Hong Kong, aiming to raise funds for global manufacturing expansion and R&D enhancement [1][2]. Group 1: IPO Progress - Shenghong Technology submitted its H-share issuance application to the Hong Kong Stock Exchange on August 20, 2025, marking a significant step in its IPO process [1][2]. - The company aims to utilize the funds raised from the IPO for purchasing equipment, expanding global manufacturing capabilities, and enhancing R&D efforts [2]. Group 2: Financial Performance - Since its A-share listing in 2015, Shenghong Technology has raised a total of 55.58 billion yuan through multiple equity financing rounds [4]. - The company reported a revenue of 79.31 billion yuan in 2023, a slight increase of 0.58%, but its net profit declined by 15.09% to 6.71 billion yuan due to industry challenges [5][6]. - In 2024, the company achieved a revenue growth of 35.31% to 107.31 billion yuan and a net profit increase of 71.96% to 11.54 billion yuan, marking significant milestones [6]. Group 3: Market Position and Strategy - Shenghong Technology is recognized as a leading supplier of AI and high-performance computing PCBs, ranking first globally in AI and computing PCB revenue in Q1 2025 [2][6]. - The company has established long-term partnerships with over 160 top global enterprises, including collaborations with Tesla and BYD in key components for electric vehicles [5][6]. - The company is strategically diversifying into AI computing and new energy vehicles to capitalize on emerging market opportunities [6]. Group 4: Stock Performance - The stock price of Shenghong Technology increased significantly, from 41.79 yuan per share at the end of 2024 to 216.16 yuan per share by August 21, 2025, reflecting a year-to-date increase of 417.25% [6].