Korean Retail Investors Rush to Buy Chinese PCB Leader Victory Giant Technology

Chinese PCB Leader Wins Favor Among Korean Retail Investors

According to data from SEIbro, a platform under Korea Securities Depository (KSD), cited by the Shanghai Securities News, since April (as of April 27), Victory Giant Technology — a leading Chinese PCB manufacturer that recently listed in Hong Kong — has made a rare appearance on Korea's top 50 overseas stock net-purchase leaderboard.

Notably, this leaderboard has long been dominated by U.S. equity ETFs and major American tech stocks such as NVIDIA and Apple. Victory Giant officially debuted on the Hong Kong Stock Exchange on April 21, and within just a few days, it attracted intensive buying from Korean retail investors — a phenomenon rarely seen in Korea's overseas investment market.

AI Computing Boom Drives Explosive PCB Demand

The core reason Victory Giant has drawn significant attention from Korean investors lies in its deep integration with the AI computing supply chain. As a leading Chinese printed circuit board (PCB) manufacturer, Victory Giant holds a notable competitive edge in high-end products such as high-multilayer boards and HDI boards, with applications spanning AI servers, data centers, and other critical infrastructure.

As global demand for AI large-model training and inference continues to surge, GPU server shipments are growing rapidly, driving a corresponding rise in demand for high-end PCBs. AI servers require PCBs with more layers, more complex manufacturing processes, and significantly higher per-unit value compared to traditional servers, creating substantial growth opportunities for top-tier PCB manufacturers like Victory Giant.

Korean retail investors have consistently demonstrated a keen sense for AI supply chain investments. Having already accumulated large positions in AI chip stocks such as NVIDIA and AMD, they are now extending their focus to upstream infrastructure components like PCBs — signaling that market investment logic around the AI hardware supply chain is deepening.

Hong Kong Emerges as New Hub for AI Supply Chain Investment

Victory Giant's timing for its Hong Kong listing has proven highly opportune. Since the beginning of this year, Hong Kong's stock market has attracted substantial international capital inflows, driven by the rise of China's AI industry. From the AI boom triggered by DeepSeek to a wave of AI-related companies listing on the Hong Kong Stock Exchange, the city is rapidly becoming a key gateway for global investors to access Chinese AI assets.

The cross-market buying spree by Korean retail investors into a Chinese PCB leader also reflects an important trend: global investors are reassessing the investment value of China's AI supply chain. Compared to U.S. AI leaders whose valuations are already elevated, Chinese AI hardware supply chain companies are demonstrating stronger appeal in terms of valuation.

Outlook: Long-Term Growth Potential Remains for AI Hardware Supply Chain

Looking ahead, as global AI infrastructure buildout continues to accelerate, PCBs — as foundational components of electronic products — will see their high-end evolution continue. Analysts widely expect the AI server PCB market to maintain rapid growth over the coming years.

The investment moves by Korean retail investors may be just a microcosm of a broader trend. Against the backdrop of the AI technology revolution, Chinese AI hardware supply chain companies with core technological capabilities are gaining increasing recognition and favor from global capital.