On May 22, Shenghong Technology (02476.HK) rose 5.49% in regular trading, trading at 371.0 HKD/share, with trading volume of approximately 137 million HKD.
On the news front, NVIDIA released its FY2027 Q1 earnings on May 21, reporting revenue of $81.6 billion, up 85% year-over-year and beating market expectations across all metrics. Q2 revenue guidance of $91 billion also exceeded consensus estimates. The strong results reinforced confidence in sustained AI infrastructure spending, directly benefiting upstream PCB suppliers.
Nomura has previously identified Shenghong Technology as one of NVIDIA's most important PCB suppliers, projecting the company will capture approximately 50%-55% share in NVIDIA's next-generation Rubin platform. Per-unit PCB value is expected to rise from $400 for Blackwell to over $1,000 for Rubin Ultra, driving Shenghong's NVIDIA revenue contribution from 9% in 2024 to an estimated 38% by 2028. The stock had also recently benefited from inclusion in the Stock Connect program effective May 18.
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