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Chinese PCB maker specializing in high-layer-count, high-speed boards used in AI servers, networking equipment and automotive electronics.
Chinese PCB maker specializing in high-layer-count, high-speed boards used in AI servers, networking equipment and automotive electronics.
Sells high-layer-count boards, stacks of many thin circuit layers, to server and network equipment makers on programmes qualified over long periods, so AI server programmes drive its volumes. It is based in Huizhou, Guangdong.
In one line: China's answer to TTM Technologies in high-end AI-server PCBs.
Moat: narrow (process know-how, customer qualification). High-layer-count, high-speed PCB engineering know-how qualified into demanding AI-server and networking programs.
Headquarters: Huizhou, China · Founded: 2006 · Employees: 17,989
Size Victory Giant Technology (HuiZhou) (300476.SZ) is a China Information Technology company (Electronic Components) with a market value of $18.3B, the 122nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥124.31 on 6 Nov 2026.
Performance Over six months the shares fell 62.2%, against -25.7% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 37.8% over the last twelve months (peer median +33.4%); the operating margin is 25.6% (peer median 12.9%).
Valuation It trades at 17.2× forward earnings against a peer median of 21.2× (7th cheapest of 21).
Capital Return on invested capital runs 0.3 points above its cost of capital (13.4% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥23.6B | CN¥19.3B | CN¥10.7B | CN¥7.93B | CN¥7.86B |
| Revenue growth | — | +80% | +35% | +1% | — |
| Gross profit | CN¥8.75B | CN¥6.65B | CN¥2.31B | CN¥1.59B | CN¥1.36B |
| EBITDA | n/a | CN¥6.15B | CN¥2.14B | CN¥1.44B | CN¥1.43B |
| Net income | CN¥4.45B | CN¥4.31B | CN¥1.15B | CN¥671M | CN¥791M |
| Free cash flow | -CN¥8.92B | -CN¥2.01B | CN¥533M | CN¥646M | CN¥180M |
| Capital expenditure | CN¥14.7B | CN¥6.62B | CN¥834M | CN¥645M | CN¥1.06B |
| Total debt | CN¥18.7B | CN¥9.84B | CN¥6.51B | CN¥7.06B | CN¥5.32B |
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) 300476.SZ | $18.3B | -62% | +38% | 26% | 17.2× | n/a |
| Shennan Circuit 002916.SZ | $20.4B | -36% | +51% | 18% | 22.6× | 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% |
| Ibiden 4062.T | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% |
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 | 300476.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.7% | -40.0% | 10th highest of 21 |
| 6-month return | -62.2% | -25.7% | lowest of 20 |
| Distance from 52-week high | -69.1% | -50.8% | 2nd lowest of 21 |
| Revenue growth (TTM) | +37.8% | +33.4% | 9th highest of 21 |
| Operating margin | 25.6% | 12.9% | 5th highest of 21 |
| Forward P/E | 17.2× | 21.2× | 7th cheapest of 21 |
| ROIC minus cost of capital | +0.3 pp | +4.1 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Victory Giant Technology (HuiZhou) 300476.SZ | China | $18.3B | -62% | +38% | 26% | 17.2× | n/a | n/a |
| Largan Precision 3008.TW | Taiwan | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% | +1.8% |
| NVT NVT | United States | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% | +14.3% |
| Nan Ya Printed Circuit Board 8046.TW | Taiwan | $17.1B | -12% | +34% | 12% | 26.1× | 58.7% | +0.8% |
| 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 |
| Avary Holding (Shenzhen) 002938.SZ | China | $16.2B | -35% | +8% | 10% | 22.4× | n/a | n/a |
| Wus Printed Circuit (Kunshan) 002463.SZ | China | $21.2B | -29% | +61% | 28% | 18.2× | n/a | n/a |
| Ibiden 4062.T | Japan | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% | +5.2% |
| Tdk 6762.T | Japan | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% | +11.1% |
| Gold Circuit Electronics 2368.TW | Taiwan | $12.9B | -45% | +68% | 26% | 14.5× | 14.2% | +20.7% |
| Celestica CLS.TO | Canada | $26.3B | -44% | +61% | 9% | 11.5× | 11.0% | +17.6% |
| Zhen Ding Technology Holding Lt 4958.TW | Taiwan | $12.8B | -12% | +5% | 9% | 18.4× | n/a | n/a |
| Suzhou Dongshan Precision Manufacturing 002384.SZ | China | $26.9B | -57% | +56% | 11% | 18.0× | n/a | n/a |
| Accelink Technologies 002281.SZ | China | $10.8B | -37% | +32% | 11% | 42.6× | n/a | n/a |
| Kinsus Interconnect Technology 3189.TW | Taiwan | $10.7B | +27% | +34% | 14% | 29.4× | 41.2% | +7.7% |
| Unimicron Technology 3037.TW | Taiwan | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% | +8.3% |
| Sunny Optical 2382.HK | Hong Kong | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% | +1.9% |
| 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 |
| Taiwan Union Technology 6274.TWO | Taiwan | $8.21B | -26% | +87% | 23% | 13.9× | n/a | n/a |