Movement Alert｜Victory Giant Technology Falls 3.28% in Regular Trading, Nomura Cuts Target Price to HK$447 Amid Lingering Negative Rumors

Market Focus07-15 09:47

On July 15, Victory Giant Technology (02476.HK) fell 3.28% in regular trading, trading at HK$239.0/share, with turnover of HK$227 million.

On the news front, Nomura Securities released a report cutting its target price on the company from HK$479 to HK$447, while lowering FY2026-2028 revenue forecasts by 7% to 13% and earnings estimates by 7% to 14%, reflecting potentially lower-than-expected short-term HDI revenue contribution. Although Nomura believes the company can maintain its leading supplier position for GPU clients and expects its expansion into ASIC and optical transceiver markets to drive sustainable growth through H2 this year into next year, the forecast downgrade weighed on market sentiment.

The decline also comes against a backdrop of unresolved negative market rumors regarding product quality, market share loss, and project delays related to NVIDIA's Rubin platform. The company issued a formal clarification on July 13 denying all allegations as severely inaccurate, stating that orders from major AI clients continue to grow with demand visibility extending through 2027-2028.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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