Chinese AI circuit board maker Victory Giant Technology has received regulatory approval for a Hong Kong IPO that could raise over $2 billion, according to Bloomberg sources.
Chinese AI circuit board manufacturer Victory Giant Technology (Huizhou) Co. is preparing for a Hong Kong listing as early as April 2026 that could raise more than $2 billion, according to sources familiar with the matter cited by Bloomberg.
The company, which specializes in printed circuit boards for artificial intelligence applications, has received approval from Chinese regulators for the initial public offering, the sources said. Victory Giant Technology is now working with financial advisers to prepare for the listing.
This IPO comes amid growing demand for AI infrastructure components in China, as the country continues to develop its domestic AI capabilities despite ongoing technological restrictions from Western governments. The timing suggests Victory Giant sees strong market appetite for AI hardware suppliers as Chinese tech companies expand their AI operations.
Circuit boards are essential components in AI servers, data centers, and edge computing devices. Victory Giant's focus on AI-specific circuit board manufacturing positions it to benefit from the broader AI hardware boom in China, where companies are racing to build domestic alternatives to US-designed AI chips and systems.
The potential $2 billion+ raise would make this one of the larger technology hardware IPOs in Hong Kong this year, reflecting investor interest in the AI supply chain beyond just chipmakers and software companies. The IPO could also signal growing confidence in Hong Kong's ability to attract major Chinese technology listings amid ongoing geopolitical tensions.
Details about Victory Giant's financial performance, valuation expectations, and specific use of proceeds from the IPO were not disclosed in the Bloomberg report. The company's decision to list in Hong Kong rather than mainland China or the United States reflects the complex regulatory environment for Chinese technology companies seeking public market access.
This development follows a broader trend of Chinese AI hardware companies seeking public market funding to expand production capacity and develop next-generation products as the country aims to reduce dependence on foreign technology suppliers.
For more information, see the original Bloomberg report: Bloomberg: Sources: Chinese AI circuit board maker Victory Giant plans a Hong Kong IPO as soon as April that may raise $2B+; Chinese regulators approved the IPO last week
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