On July 31, VGT rose 12.77% in regular trading, trading around HK$188.3/share, with turnover of HK$250 million. The rally came as the PCB sector staged a collective sharp rebound following consecutive sessions of heavy losses, with peers KB Laminates surging 19.29%, CCTC up 15.63%, and Kingboard Holdings gaining 11.33%.

The rebound represents a classic oversold recovery pattern. VGT had previously plummeted over 40% from its July 23 high, pressured by massive leverage fund withdrawals — the electronics sector saw net margin financing repayments topping all industries at RMB 50.68 billion in a single week, with VGT alone seeing over RMB 2 billion in net repayment. Overcapacity concerns and mid-year earnings realization pressure had further weighed on valuations.

On the fundamental side, VGT remains a core high-speed backplane supplier for NVIDIA's Vera Rubin platform, with clients having committed long-term demand extending through 2028. JPMorgan recently reiterated its Overweight rating with a HK$500 target price, noting the market has overreacted to short-term headwinds.

(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.)