VGT Shares Slide Over 4% as Company Dismisses "Price Negotiation Failure" Rumors

Stock News05-15

Shares of printed circuit board (PCB) concept stocks have seen consecutive adjustments over the past two days. Victory Giant Technology (02476) experienced another decline today, dropping over 6% at one point. As of this writing, the stock is down 4.35%, trading at HK$339, with a turnover of HK$1.078 billion.

Market sentiment was influenced by recent rumors suggesting a "major PCB manufacturer failed in price increase negotiations," which were linked to Victory Giant Technology's significant stock price drop yesterday, drawing market attention. In response to an inquiry, a company representative stated: "That online rumor is false information. There are many factors affecting stock price fluctuations; you can observe that the entire PCB sector is experiencing a certain degree of correction today."

Regarding market concerns about cost pressures from upstream raw material prices, the representative added that although prices for upstream materials such as copper foil, resin, and glass fiber cloth have seen some increases, the profitability of high-frequency and high-speed materials within the copper-clad laminate (CCL) segment itself is relatively strong, which allows for better absorption of these cost pressures.

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