Core Viewpoint - The article highlights the booming IPO market, particularly the upcoming IPO of Shenghong Technology, a leading PCB manufacturer, which is set to benefit from its close ties with Nvidia and the growing demand in the AI sector [4][20]. Group 1: Shenghong Technology's IPO and Market Position - Shenghong Technology has announced its IPO plan in Hong Kong, following the trend of major A-share companies entering the Hong Kong market [4]. - The company has a market capitalization exceeding 160 billion yuan and has seen its stock price surge over 350% in the current year, establishing it as a "tenfold bull stock" [4][20]. - Shenghong Technology is recognized as a key supplier to Nvidia, contributing significantly to the latter's success in the AI market [7][19]. Group 2: Founder’s Background and Company Development - The founder, Chen Tao, transitioned from a military career to sales and eventually to technology, establishing Shenghong Technology in 2003 [9][13]. - Initially lacking a technical background, Chen Tao self-studied PCB technology and became a senior engineer, leading to the establishment of Shenghong Technology in 2006 [13][14]. - The company has developed a strong reputation in the PCB market, particularly in high-end applications, and has established a smart factory ahead of competitors [15][16]. Group 3: Financial Performance and Future Outlook - Shenghong Technology's revenue for 2024 is projected to reach 10.731 billion yuan, a year-on-year increase of 35.31%, with a net profit of 1.154 billion yuan, up 71.96% [20]. - The company derives approximately 60% of its revenue from exports, with major clients including Nvidia, Tesla, AMD, Intel, and others [21]. - The global PCB market is expected to reach 94.661 billion USD by 2029, with Shenghong Technology positioned as a major beneficiary of this growth [20].

Core 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].