靠AI电路板绑定英伟达，胜宏科技暴涨530%

Core Insights - The partnership with NVIDIA has become a core asset for Shenghong Technology, propelling its founder Chen Tao into the ranks of top billionaires in China's AI sector [2][3] - Shenghong Technology's stock price has surged over 530% this year, making it the top performer in the MSCI Asia Pacific Index, with Chen Tao and his wife amassing a combined net worth of $9.1 billion [3][7] - The company faces multiple risks due to its reliance on NVIDIA and geopolitical tensions, but is actively pursuing a global expansion strategy to mitigate uncertainties [3][10] Company Overview - Shenghong Technology, founded by Chen Tao, specializes in the manufacturing of printed circuit boards (PCBs), which are essential components for AI servers [4][8] - The company has become a key supplier for NVIDIA, benefiting from the explosive demand for AI technology [4][8] - As of November 25, Chen Tao and his wife hold a combined 27% stake in Shenghong Technology, significantly contributing to their wealth [7] Financial Performance - Shenghong Technology's stock has outperformed other tech stocks in both China and the U.S., with a projected price-to-earnings ratio of 32 times, which is relatively low compared to other domestic chip manufacturers [4][7] - The company's HDI (High-Density Interconnect) PCB business reported a gross margin of 38.8% in Q1 2025, a substantial increase from 8.3% in the same period last year [11] Global Expansion Strategy - To counterbalance risks associated with geopolitical tensions and reliance on domestic production, Shenghong Technology is expanding its operations globally, with investments in Thailand and Vietnam [10][11] - The company aims to serve Western clients sensitive to export restrictions through its new facilities in Southeast Asia [11] - Management restructuring has been implemented to align with global expansion needs, including the appointment of a new CTO with extensive international experience [11]