VGT shares surged 5.04% during intraday trading on Wednesday, fueled by a broader recovery in the PCB sector after a two-day correction, along with solid fundamental support.

The stock's rally came as the PCB sector stabilized, with peers such as KB Laminates and Kingboard Holdings also posting gains of 6.29% and 3.39%, respectively. VGT had previously run up from around HKD 190 to HKD 280 in a single week before experiencing consecutive pullbacks, and analysts noted that short-term profit-taking pressure has largely been released.

On the fundamental side, the company disclosed that orders in hand continue to grow, with R&D iteration products co-developed with core customers progressing smoothly. Some customers have already released long-term demand forecasts extending into 2027-2028. Additionally, Citi expects major CCL manufacturers to initiate a new round of price increases, as AI-driven demand has pushed glass fiber cloth prices up 118%-165% year-to-date, tightening industry supply and reinforcing the medium-term sector upcycle thesis.