Capitalizing on the AI Computing Industry Upgrade Boom: Victory Giant Technology Achieves a Steady Start in Q1 Performance

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Capitalizing on the AI Computing Industry Upgrade Boom: Victory Giant Technology Achieves a Steady Start in Q1 Performance

Published: 12:00am, 30 Apr 2026

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At present, the global wave of AI technological innovation and the computing industry revolution is surging forward, driving explosive growth in data center construction and the demand for high-end hardware. As the “skeleton and nerves” of electronic products, printed circuit boards (PCBs) have already become the core components that determine the performance ceiling of AI computing equipment. The industry is currently embracing historic development opportunities.

As an industry leader, Victory Giant Technology (300476.SZ, 02476.HK) has firmly grasped the opportunities presented by the AI industry upgrades in 2026. Leveraging its forward-looking strategic layout, robust technological capabilities, and sound operational quality and efficiency, the Company delivered an outstanding performance in the first quarter. This solid financial performance validates its formidable strength as the global leader in AI computing PCBs, demonstrating remarkable development resilience and growth vitality.

Data shows that in the first quarter of 2026, Victory Giant Technology achieved operating revenue of RMB 5.519 billion, representing a significant year-on-year increase of 27.99%; net profit attributable to shareholders of the listed company reached RMB 1.288 billion, surging 39.95% year-on-year; and net cash flow from operating activities amounted to RMB 2.117 billion, a substantial increase of 399.38% year-on-year. With both profit and cash flow achieving strong growth and operating quality significantly improved, the company delivered an outstanding performance in the first quarter, laying a solid foundation for steady operations and high-quality development throughout the year.

Continuously Strengthen Technological Innovation and Build a Solid Competitive Moat

As a world-leading core PCB supplier for AI computing power and high-performance computing scenarios, Victory Giant Technology has long focused on high-build-up HDIs and high-layer-count MLPCBs businesses. It can mass-produce ultra-high-layer MLPCBs with over 100 layers, and ranks among China’s first enterprises to realize large-volume mass production of 24-layer HDIs with a 6+12+6 build-up. Deeply embedded in the high-end core supply chains of AI servers, high-speed switches, computing power boards and other key products, the Company continues to strengthen its overall competitive edge across the industry.

In 2026, Victory Giant Technology is actively embracing the AI wave, accurately identifying industry trends such as the evolution of computing power technologies and data center upgrades. Leveraging its leading R&D capabilities, mature and sophisticated manufacturing processes, and a rigorous, comprehensive quality control system, the company continues to seize the high ground in global high-end PCB technology. This drives sustained growth in high value-added product orders, becoming the core engine behind its rapid performance expansion.

Technological innovation is the key factor behind Victory Giant Technology’s continued strong performance. In the first quarter of 2026, the company's R&D expenses reached RMB 295 million, a year-on-year increase of 54.72%.This high-proportion R&D investment is helping the company continuously tackle cutting-edge core technologies in high-end PCBs, and steadily strengthen its technological foundation for next-generation AI computing power and high-speed communications products.

From cutting-edge technology R&D, scaled mass production to global high-efficiency delivery, the Company has built complete end-to-end industry chain competitive advantages. With profound technical barriers, it has established a solid moat, ensuring consistent and stable capture of high-end orders and providing robust technical support for sustained high performance growth.

Sound Financial Structure Consolidates Foundation for High-Quality Development

A healthy and sound financial structure coupled with efficient operations management has reinforced the development foundation for Victory Giant Technology’s sustained rapid expansion. Data shows that as of the end of the first quarter, the company's total assets reached RMB 38.878 billion, representing a 10.31% increase from the end of the previous year; and total equity attributable to shareholders of the listed company amounted to RMB 17.404 billion, a 4.73% increase from the end of the previous year. With both asset scale and shareholder equity steadily expanding, the company's capital strength continues to be reinforced, providing sustained momentum for subsequent R&D efforts, capacity expansion, and global market development.

Overall, in the first quarter of 2026, Victory Giant Technology seized the opportunities arising from the global AI computing power revolution. Grounded in technology, driven by innovation, and committed to quality, the Company achieved breakthrough progress in the high-end PCB manufacturing industry and delivered strong, high-quality operating results.

Looking ahead, the Company will continue to focus on high-potential core sectors such as AI computing power, high-performance computing, and new energy vehicles. It will further increase investment in R&D and capacity expansion, deepen strategic cooperation with high-quality global customers, and consolidate its leading position in the global AI computing PCB market. Moving steadily toward high-quality and sustainable development, the Company aims to generate consistently improving operating performance to reward shareholders and investors, while contributing to the advancement of China’s high-end manufacturing industry onto the global stage.