2025.09.24
Victory Giant Technology (Huizhou) Co., Ltd. (Victory Giant Technology, stock code 300476) recently released its 'Report on the Issuance of Stocks to Specific Investors on the Growth Enterprise Market'. The issuance price was RMB 248.02 per share, which was 102.43% of the average trading price of the company's A-shares over the 20 trading days prior to the pricing benchmark date. The total funds raised were approximately RMB 1.9 billion. These funds will be used to enhance the company's competitiveness by focusing on its main PCB business and expanding its high-end HDI and multi-layer board production capacities overseas. JunHe served as the issuer's legal counsel in this transaction.
Deal Highlights
This transaction is notable for being the highest-priced A-share refinancing project since January 1, 2025, to be completed at a premium above the average trading price of the 20 trading days prior to the pricing benchmark date. It is also one of the few transactions that advances financing for both A-shares and H-shares simultaneously, and it's the only A-share listed company to complete A-share refinancing after submitting an H-share A1 application.
Victory Giant Technology was listed on the Growth Enterprise Market of the Shenzhen Stock Exchange in 2015 and it is a global leader in AI and high-performance computing PCB supply. The company specializes in the research, development, production and sales of high-end HDI and multi-layer PCBs. Its products are widely used in high-growth areas such as artificial intelligence, new energy vehicles and high-speed network communications, and it has over 350 large customers around the world. Victory Giant Technology is ranked in the top ten PCB manufacturers worldwide.
JunHe has provided comprehensive legal services for Victory Giant Technology's various domestic and international projects, including mergers and acquisitions, and has served as the company's regular legal counsel. In this transaction, JunHe acted as the issuer's legal counsel. With close cooperation from Victory Giant Technology and the other intermediary institutions, JunHe completed tasks such as issuance plan demonstration, legal due diligence, preparation of application materials and responded to regulatory inquiries. JunHe assisted the company in successfully passing the review by the Shenzhen Stock Exchange and completing registration with the China Securities Regulatory Commission. JunHe's rigorous and efficient work style, meticulous and dedicated service attitude, and professional and high-quality service have earned unanimous recognition and high trust from the client and the other intermediary institutions.
Mr. JIANG, Wenjun (Kelvin) was the lead partner for this transaction and Mr. XIA, Ruhai was the internal review partner.
