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Core Viewpoint - The article highlights the rapid growth and strategic expansion of Shenghong Technology, a PCB manufacturer, which has significantly increased its market value and revenue by closely aligning with major clients like NVIDIA, AMD, and Intel [4][20]. Financial Performance - Shenghong Technology's market capitalization exceeded 187 billion yuan, with a stock price increase of over 10 times since early 2024, particularly a surge of 130 billion yuan since mid-April [4]. - The company's total revenue for 2024 is projected to be over 10.73 billion yuan, a year-on-year increase of 35.31% from 7.93 billion yuan in 2023 [5][27]. - The net profit for 2024 is expected to reach 1.15 billion yuan, reflecting a significant growth rate of 71.96% compared to the previous year [27][28]. Strategic Expansion - Shenghong has initiated an IPO process in Hong Kong to raise approximately 10 billion USD (around 72 billion yuan) to support its expansion plans [5][32]. - The company has made substantial investments in Southeast Asia, including a 2.6 billion USD project in Vietnam and a 3.21 billion yuan project for AI HDI boards [12][13]. - The total financing planned for 2024 exceeds 9 billion yuan, aimed at enhancing production capacity and technological upgrades [13][15]. Client Relationships and Market Position - Shenghong's strategy focuses on deepening relationships with top-tier clients and participating in the development of new products, particularly in AI and data center applications [21][25]. - The company is recognized for its ability to produce advanced HDI boards, which are critical for high-performance computing and AI applications, making it a preferred supplier for major tech firms [22][24]. Founder Background - Chen Tao, the founder of Shenghong, has a background in sales and engineering, having started the company in 2006 to capitalize on the PCB market, which was then dominated by foreign firms [30][31]. - Under his leadership, Shenghong has transitioned from a local player to a significant global competitor, with recent acquisitions and expansions aimed at reducing logistics costs and enhancing market access [31][32].