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Makes high-end printed circuit boards (PCBs), including HDI and multilayer boards for telecom, servers and automotive electronics.
Makes high-end printed circuit boards (PCBs), including HDI and multilayer boards for telecom, servers and automotive electronics.
Sells boards made to each customer's design, taking orders from telecom, server and car-electronics makers and qualifying on specific products, so orders come in programs lasting years. These are the Hong Kong H shares of a company whose main listing is in Shenzhen.
In one line: A Chinese TTM Technologies for high-end PCBs.
Moat: narrow (process know-how, customer qualification). High-layer-count, high-frequency PCB manufacturing know-how creates qualification barriers versus lower-end makers.
Headquarters: Huizhou, China · Founded: 2006 · Employees: 17,989
Size Victory Giant Technology (HuiZhou) (2476.HK) is a Hong Kong Information Technology company (Electronic Components) with a market value of $13.6B, the 125th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$108.40 on 6 Nov 2026.
Performance Over six months the shares fell 67.2%, against -27.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 45.0% over the last twelve months (peer median +33.7%); the operating margin is 25.6% (peer median 13.1%).
Valuation It trades at 12.4× forward earnings against a peer median of 20.8× (3rd cheapest of 21).
Capital Return on invested capital runs 9.6 points above its cost of capital (5.2% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$26.9B | HK$20.9B | HK$11.6B | HK$8.76B | HK$9.14B |
| Revenue growth | — | +80% | +32% | -4% | — |
| Gross profit | HK$9.94B | HK$7.21B | HK$2.50B | HK$1.76B | HK$1.58B |
| EBITDA | n/a | HK$6.67B | HK$2.32B | HK$1.59B | HK$1.66B |
| Net income | HK$5.04B | HK$4.68B | HK$1.25B | HK$742M | HK$919M |
| Free cash flow | -HK$10.3B | -HK$2.18B | HK$578M | HK$714M | HK$209M |
| Capital expenditure | HK$16.9B | HK$7.18B | HK$904M | HK$712M | HK$1.23B |
| Total debt | HK$21.9B | HK$11.0B | HK$6.93B | HK$7.78B | HK$5.97B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Victory Giant Technology (HuiZhou) 2476.HK | $13.6B | -67% | +45% | 26% | 12.4× | n/a |
| TTM Technologies TTMI | $7.01B | -58% | +38% | 12% | 8.5× | 24.1% |
| Unimicron Technology 3037.TW | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% |
| Shennan Circuit 002916.SZ | $20.4B | -36% | +51% | 18% | 22.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2476.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -46.9% | -40.0% | 3rd lowest of 21 |
| 6-month return | -67.2% | -27.1% | lowest of 20 |
| Distance from 52-week high | -77.2% | -51.9% | lowest of 21 |
| Revenue growth (TTM) | +45.0% | +33.7% | 9th highest of 21 |
| Operating margin | 25.6% | 13.1% | 5th highest of 21 |
| Forward P/E | 12.4× | 20.8× | 3rd cheapest of 21 |
| ROIC minus cost of capital | +9.6 pp | +3.3 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Victory Giant Technology (HuiZhou) 2476.HK | Hong Kong | $13.6B | -67% | +45% | 26% | 12.4× | n/a | n/a |
| Gold Circuit Electronics 2368.TW | Taiwan | $12.9B | -45% | +68% | 26% | 14.5× | 14.2% | +20.7% |
| Zhen Ding Technology Holding Lt 4958.TW | Taiwan | $12.8B | -12% | +5% | 9% | 18.4× | n/a | n/a |
| Avary Holding (Shenzhen) 002938.SZ | China | $16.2B | -35% | +8% | 10% | 22.4× | n/a | n/a |
| Accelink Technologies 002281.SZ | China | $10.8B | -37% | +32% | 11% | 42.6× | n/a | n/a |
| Nan Ya Printed Circuit Board 8046.TW | Taiwan | $17.1B | -12% | +34% | 12% | 26.1× | 58.7% | +0.8% |
| NVT NVT | United States | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% | +14.3% |
| Kinsus Interconnect Technology 3189.TW | Taiwan | $10.7B | +27% | +34% | 14% | 29.4× | 41.2% | +7.7% |
| Largan Precision 3008.TW | Taiwan | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% | +1.8% |
| Chaozhou Three-Circle (Group) 6951.HK | Hong Kong | $20.2B | n/a | +74% | 34% | 22.3× | 34.2% | +16.8% |
| Shennan Circuit 002916.SZ | China | $20.4B | -36% | +51% | 18% | 22.6× | n/a | n/a |
| Sunny Optical 2382.HK | Hong Kong | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% | +1.9% |
| Wus Printed Circuit (Kunshan) 002463.SZ | China | $21.2B | -29% | +61% | 28% | 18.2× | n/a | n/a |
| Innolux 3481.TW | Taiwan | $8.71B | +32% | +11% | 0% | 62.6× | 37.3% | -3.4% |
| Shenzhen Kinwong Electronic 603228.SS | China | $8.38B | -23% | +33% | 12% | 22.6× | n/a | n/a |
| Ibiden 4062.T | Japan | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% | +5.2% |
| Taiwan Union Technology 6274.TWO | Taiwan | $8.21B | -26% | +87% | 23% | 13.9× | n/a | n/a |
| Shengyi Electronics 688183.SS | China | $7.95B | -44% | +46% | 21% | 19.4× | n/a | n/a |
| Tdk 6762.T | Japan | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% | +11.1% |
| Celestica CLS.TO | Canada | $26.3B | -44% | +61% | 9% | 11.5× | 11.0% | +17.6% |
| TTM Technologies TTMI | United States | $7.01B | -58% | +38% | 12% | 8.5× | 24.1% | +6.7% |