According to a recent filing with the Shenzhen Stock Exchange (SZSE), Shenzhen Click Technology (SCT) said it has completed the closure of several capital-raising accounts after reallocating unused proceeds to its manufacturing project in Vietnam.

$24 million redirected to Vietnam project

In June 2025, SCT shareholders approved the termination of three projects in China, including a magnetic component manufacturing project for EV charging stations in Huizhou, a magnetic component project for solar power and energy storage in Anhui, and an automotive electronics R&D center.

An illustration of the headquarters of Shenzhen Click Technology’s facility in Vietnam. Photo courtesy of the company.

The remaining unused proceeds from these projects, amounting to RMB173.91 million ($24 million), along with all accrued interest, have been transferred to a new manufacturing facility in Vietnam.

According to disclosure documents, the project is being implemented through Hongting Technology (Vietnam) Co., Ltd., a subsidiary established by SCT in Vietnam. The company also opened dedicated project accounts at a Chinese bank’s Ho Chi Minh City branch and established capital monitoring mechanisms involving banks in China and Singapore.

SCT said that to date, the full balance of raised funds and related interest has been transferred to accounts serving the Vietnam project. Accounts associated with the terminated projects in China have also been closed in accordance with regulations.

This marks a clear shift in capital allocation, away from domestic production and R&D projects in China toward the new manufacturing base in Vietnam. The move reflects a broader trend among Chinese electronics and component manufacturers as global supply chains continue to diversify and reduce reliance on single production hubs.

Although the company did not disclose the project’s total investment scale, the additional allocation of nearly RMB174 million ($24 million) suggests that the Vietnam facility is a key priority in its capacity expansion strategy.

What is Shenzhen Click Technology doing in Vietnam?

Founded in 2004 in Shenzhen, Shenzhen Click Technology has been listed on the Shenzhen Stock Exchange since 2015. The company specializes in the research, development and manufacturing of magnetic components, power supplies, power electronics equipment, and energy solutions.

Its products are widely used across AI data centers, servers, telecommunications systems, consumer electronics, renewable energy systems, energy storage infrastructure, and electric vehicles.

In recent years, the company has steadily expanded its international footprint. In addition to facilities in China, it has developed manufacturing networks in Vietnam, Mexico, and other markets to serve global customers.

The Vietnam project is part of its broader strategy to build overseas production capacity, supporting international clients amid a structural shift in the global electronics supply chain toward Southeast Asia.

In a 2025 filing on the revised use of proceeds, SCT said it had established a wholly owned subsidiary in Vietnam to serve as the project investor.

The Vietnam facility officially broke ground on April 22, 2026, at Vietnam-Singapore 3 Industrial Park (VSIP3) in Tai Hoa ward, Ho Chi Minh City. The project has a total investment of $28 million, covers 25,000 square meters of land, and offers a total floor area of 55,000 square meters.

Once operational, Click Vietnam Industrial Park is expected to achieve annual output value of about RMB1.5 billion ($221.58 million), focusing on R&D and manufacturing of chargers, power supplies, and magnetic components. The company also expects to attract supporting enterprises within the power supply and magnetic component supply chain to cluster around the project.

The company said the project represents an important step in its strategy to expand capacity, enhance global delivery capabilities, and strengthen its position within Southeast Asia’s industrial ecosystem.